OREANDA-NEWS. March 29, 2010. Uzbek-German business forum as well as cooperation exchange were held in Tashkent on 24 March with the participation of the representatives of business circles of two countries.

Delegation of the Federative Republic of Germany was headed by Andreas Neumann, Head of Department for Foreign Economic Relations with CIS countries of the Federal Ministry of Economy and Technology of Germany.

During the business forum participants were informed about the prospects of bilateral cooperation in various sectors of economy, investment capacity of Uzbekistan and investment opportunities within the "Navoi" Free Industrial Economic Zone.

Issues of cooperation in the field of mining and quarrying, and oil and gas, geology, machinery, as well as information technologies, logistic, banking sector and cooperation in the field of small and private business were discussed during the sectional meetings.

Documents, assigning the legal base of economic relations between the two countries, including the Agreement "On the mutual promotion and protection of investments", Agreement "On creation of Fund for scientific researches and experts" were signed during the first visit the President of Uzbekistan Islam Karimov to Germany in March 1993. Uzbek President has made three official visits to Germany – in 1993, 1995 and 2001.

Annually, since 1994, Uzbekistan and Germany concludes Intergovernmental Agreements "On financial and technical cooperation" with the list of specific joint projects to be realized under the preferential loans and grants, provided by the German Government. Currently more than 100 agreements and conventions on interstate, intergovernmental and interdepartmental level are regulates the relations between the Republic of Uzbekistan and Federative Republic of Germany.

Total volume of financial and technical cooperation between Uzbekistan and Germany amounted more than 298 million euros. During the years of cooperation with Kfw Bank the volume of financial assistance made up 240 million euros. These assets were directed for development of public health, agriculture, small and private business, water supply and telecommunications.

6 projects worth 53 million euros in the field of financial sector, professional education, healthcare, and transport infrastructure are currently being implemented. Total assets provided under the technical assistance for Uzbekistan is more than 58 million euros, which are directed for development of education, public health, agriculture, small and private business, public administration, protection of natural environment and others.

In accordance with Agreement "On partnership and cooperation between the Republic of Uzbekistan and EU" in the sphere of trade, Most Favored Nation (MFN) regime is established between the two countries. On the results of 2009 the volume of bilateral trade turnover made up USD 469.4 million.

133 enterprises were established with participation of German investors, 28 of which are with 100% German capital are operates today in Uzbekistan. Their activities are mainly concentrated in the following spheres: light industry, production of medical and pharmaceutical drugs, processing of agricultural production, cargo and passenger transportation and service centers, scientific implementations, trade and others.