Tashkent, Uzbekistan (UzDaily.com) -- On 15 September, on the eve of the visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the United States of America, the Uzbek-American Business Forum was held in Washington. 

It was attended by heads of key ministries and departments, industry associations, commercial banks and investment structures of the two countries, as well as heads of large US corporations engaged in the fields of ICT, mechanical engineering, agriculture, light industry, transport, banking and other areas.

Speakers at the opening ceremony of the forum were Deputy Prime Minister of the Republic of Uzbekistan Jamshid Khojaev, Minister of Investment, Industry and Trade Laziz Kudratov, Chairman of the Board of the American-Uzbek Chamber of Commerce Carolyn Lamm, President of the US EXIM Bank Reta Jo Lewis and Deputy Assistant Secretary of State Das Mark Pommersheim.

The speeches emphasized the rapid dynamics of development of trade, economic and investment relations between our countries, which was facilitated by the political will of the leadership, as well as the constant interaction of governments and business circles.

The Uzbek side presented key achievements in the development of the economy, trade, industry and improving the investment climate. In particular, along with other facts, the created mechanisms of the free market and healthy competition, active support for entrepreneurship, infrastructure development, availability of energy resources, reduced state participation in the economy and the launch of large-scale privatization processes were noted.

Thanks to the reforms carried out, Uzbekistan has become an attractive destination for investment, including for American business circles. Today, 300 US companies operate in Uzbekistan, which is more than double the figure for 2017. Success stories are seen in a variety of sectors, including automobile manufacturing - General Motors, agricultural machinery - John Deer, CNH, gas production - Air Products, agriculture - Silverleafe and others.

At the same time, the most promising areas for the implementation of joint investment projects were identified, such as the mining, chemical and energy industries, textile industry, agriculture, pharmaceuticals, electronics, and information technology. There are great opportunities in creating joint ventures to produce products with high added value and export them to third countries.

The importance of intensifying business contacts between the two countries and the readiness to provide comprehensive government support in the implementation of all joint projects and initiatives were emphasized.

During the event, separate sessions were held on issues of global competition, ensuring the sustainability of supply chains, developing the business environment, stimulating innovation, strategic forecasting, privatization and financial and technical interaction.

The work of the business forum continued with “G2B” and “B2B” meetings between the heads of ministries, departments, industry associations and leading companies of Uzbekistan and the USA. The participants were able to discuss in detail the issues of creating joint ventures and concluding mutually beneficial trade agreements.

As a result of the event, 12 documents were signed in the fields of energy, mechanical engineering, ICT, agriculture, financial and technical and scientific cooperation, production of medical and pharmaceutical products.