Issues of cooperation between Uzbekistan and the London Metal Exchange discussed

Tashkent, Uzbekistan (UzDaily.com) -- With the assistance of the Embassy of Uzbekistan in the United Kingdom, online negotiations were held between Member of the Board, Head of the Marketing Development Department of the London Metal Exchange (LME) Robin Martin and Deputy Chairman of the Board of Uzbek Republican Commodity and Raw Materials Exchange” Nabihon Samatov, Dunyo reports.

During the negotiations, the British side was given a detailed presentation on the activities of the Uzbek Republican Commodity Exchange JSC (UzEX), efforts to improve the procurement system, modernize exchange trading platforms, support business entities and other aspects of the sphere.

The LME representative highly appreciated the measures taken in Uzbekistan to create free competition, open new markets for entrepreneurs, and reduce the "shadow economy".

During the meeting, issues of cooperation were discussed and agreements were reached on organizing a series of training seminars for Uzbek specialists in such areas as modern hedging technologies, forms of guarantees for the performance of obligations under a contract, futures and organization of trading.

It should be noted that the London Metal Exchange, established in 1867, is one of the largest international commodity exchanges specializing in the trading of ferrous, non-ferrous and precious metals. The LME forms the world price for traded goods (aluminum, copper, zinc, cobalt, nicol, silver, molybdenum).