Issues of cooperation between Uzbekistan and the London Metal Exchange were discussed

    Finance 12 September 2022 1010

    With the assistance of the Embassy of our country in the UK, online negotiations were held between a member of the Management Board, head of the Marketing Development Department of the London Metal Exchange (London Metal Exchange, LME) Robin Martin and Deputy Chairman of the Board of JSC "Uzbek Republican Commodity Exchange" Nabihon Samatov.

    During the negotiations, the British side was given a detailed presentation on the activities of the Uzbek Republican Commodity Exchange JSC (UzRTSB), 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 the organization of a series of training seminars for Uzbek specialists in such areas as modern hedging technologies, forms of guarantees for the fulfillment of obligations under the contract, futures and the organization of trading, reports news agency "Dunyo".

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