“We are just starting to explore opportunities for economic ties with Qatar. As a first step we have prepared some 13 documents for setting up cooperation relations at inter-governmental, inter-ministerial and other levels which will be submitted to Qatar during President Islam Karimov’s visit to Qatar next month, Tulyaganov told The Peninsula here yesterday

A 17-member delegation from Uzbekistan led by the Deputy Minister for Foreign Economic Relations, Investments and Trade held a meeting hosted by the Qatar Chamber of Commerce and Industry (QCCI) with Qatari businessmen to explore avenues for cooperation. Tulyaganov said the objective of the visit was to study various sectors of the industry in which the Qatari and Uzbek sides could set up partnerships.

“We are interested in attracting Qatari investments in those areas where it has rich experience like in petrochemical, oil and gas, production of polymers, polyethylene and polypropylene,” he said.

“Besides, we have new projects in the chemical industry which can be of interest for Qatari investors and we are also interested in establishing joint investment funds for project financing. At present we can see opportunities for cooperation in the financial sector and in petrochemical industry.” He said economic relations with Arab countries are steadily developing and Uzbekistan is keen to strengthen ties with Qatar.

Tulyaganov said since its independence in 1991 after the collapse of the Soviet Union, Uzbekistan embarked on modernisation. The country embarked on economic reforms with priorities set on the creation of a competitive economy. With its rich in natural resources, it offers broad investment opportunities in production of goods with state-of-the-art facilities.

Uzbekistan is rapidly developing its mining, aviation and machine-building industries with its own aircraft manufacturing facilities and the largest production facilities for cars, buses and trucks in Central Asia.

Reports show that the inflow of foreign investments into Uzbekistan’s economy in 2009 increased by 68% to US$3.5 billion. In addition, the country’s investment plans provide for implementing more than 320 projects worth at least US$43 billion in the next five years.

Today, more than 4,200 joint ventures and foreign companies, including multinational corporations, operate in Uzbekistan.

Later during a meeting between Qatari businessmen and the visiting delegation from Uzbekistan, QCCI Vice Chairman Mohammed bin Towar Al Kuwari assured the support of the Qatari private sector and said it would exert all its efforts to strengthen the anticipated economic cooperation between Qatar and Uzbekistan.

Al Kuwari said the visit of the delegation from Uzbekistan would contribute to strengthen economic and trade cooperation between the two countries, The Peninsula newspaper of Qatar reported.

He noted that Qatar’s vision of development is based essentially on economic diversification and the public-private sector partnership, giving greater role to the private sector in achieving the objectives of economic development.

This, he said, contributes in encouraging active and effective cooperation between Qatari businessmen and their counterparts from different parts of the world.