The next meeting of the Uzbek-British Trade and Industry Council (UBTIC) has started in London

    Business 29 November 2023 1277

    On November 28 of this year, the 27th meeting of the Uzbek-British Trade and Industry Council (UBTIC) began its work in London under the chairmanship of Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan Badriddin Abidov and Deputy Secretary of State of the British Parliament, Minister of Export Malcolm Offord.

    The dialogue was attended by the heads of key ministries and departments, industry associations, banks, as well as diplomatic missions, in total over 100 representatives of business circles and officials of the two countries.

    During the speeches, the heads of delegations noted the dynamic, steadily growing nature of the bilateral partnership. The trade turnover between the two countries has more than doubled over the past 5 years, and by the end of 10 months of this year amounted to $ 315 million. 273 enterprises with the participation of British capital operate in Uzbekistan, including 162 joint ventures and 111 enterprises with one hundred percent British capital.

    In this context, proposals were considered and supported to expand the range of exports of Uzbek products to the UK, as well as to deepen investment cooperation.

    Within the framework of the event, panel sessions were also held on the issues of attracting and using finance, education, the textile industry, transport, digital technologies and outsourcing of business processes.

    According to the forum participants, the British Trade and Industry Council has become an effective platform for deepening interaction and cooperation between the two countries.

    As a result of the event, a joint roadmap was signed for the further expansion of Uzbek-British economic, trade and investment relations, as well as a number of agreements and memoranda on the practical implementation of the agreements reached on the sidelines of the meeting.