The event was organized by the Chamber of Commerce and Industry of Uzbekistan in Cooperation with the Germany Economy in Central Asia and German Economic Club.

Representatives of ministries and departments, companies and firms of Uzbekistan and Germany participated at the forum. Among participating German firms were Claas, Guhring, Papenburg, Siemens AG, BASF, Commerzbank and others.

Speaking at the opening, Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Germany Wolfgang Neuen said: “I am happy to welcome you at the “Day of Germany Economy”, which is conducted for the second time in Tashkent.”

He said that this year “Day of Germany Economy” coincides with the 20th anniversary of establishment of diplomatic relations between Uzbekistan and Germany. In last 20 years, close and friendly relations in economy, cooperation in development area, culture and politics developed between two nations.

Wolfgang Neuen said Germany supports Uzbekistan, which follows its own footsteps in development to legal and democratic state. Currently, development project for 300 million euros were developed in Uzbekistan, he added.

German envoy said that the relations in economy are developing dynamically. Germany is one of key trade partners of Uzbekistan and trade turnover between two states are in stable level despite international financial and economic crisis, he said. He added that the German direct investment into economy of Uzbekistan grew significantly.

“I am sure that relations between Germany and Uzbekistan will develop dynamically in future as well. Uzbekistan is exceptionally hospital country, culture and sights of which annually attract thousands of people worldwide, including Germany,” he concluded.

Chairperson of the Chamber of Commerce and Industry of Uzbekistan Alisher Shayhov said that Germany is strategic partner of Uzbekistan. He said that there is untapped potential between two states despite development of cooperation.

He expressed hope that using this potential, countries will increase trade turnover several times. Shayhov said that Uzbekistan imports German equipment, which used in machinery, production of construction materials, construction of roads, etc.

During the forum, German side familiarized with priority direction of attracting investments into economy of Uzbekistan, conditions created for foreign investors, including Navoi free industrial-economic zone and Angren special economic zone.

They also exchanged opinion on issues of further developing trade-economic and investment cooperation.

Within the event, the cooperation exchange between business circles of two states was held.

According to the state statistics committee, the trade turnover between two states made up US$118.1 million in the first quarter of 2012. Currently, there are 127 joint ventures with German investments and 47 German organizations, accredited in Uzbekistan.