OREANDA-NEWS. December 31, 2010. Uzbek-British Trade and Industry Council held its plenary session in Tashkent. It drew representatives of state bodies, companies, responsible for foreign economic relations, oil and gas branches, trade and industry, investments, science and education, tourism, chemical and food industries, pharmaceuticals and agriculture.

Elyor Ganiyev, Deputy Prime Minister of Uzbekistan, Minister of Foreign Economic Relations, Investments and Trade, Co-chairman of the Council, stressed that Uzbek-British relations are developing in all spheres, such as economy, light, oil and gas, food industries, production of construction materials, tourism, science and education, agriculture and insurance.

Favorable investment environment, preferences and benefits created in Uzbekistan to stir up foreign partners, continued privatization process increase the interest of British business circles to our country. The announcement of 2011 the Year of Small Business and Private Entrepreneurship is another fact evidencing the high attention paid in our country to development of private sector.

Agreements between Uzbekistan and UK to avoid double taxation and prevention of evasion of income and accretion to the capital taxation, on fostering and mutual protection of investments, on cooperation in economy, education, science and culture, tourism and on air communication became important steps towards the development of mutually beneficial cooperation.

The volume of turnover between our states grew by 12% versus 2009. Presently, 372 joint enterprises established in cooperation with British investors, representations of 109 UK companies and firms operate in Uzbekistan. They focus on such spheres as food industry, production of construction materials, agricultural products processing, insurance and consulting.

The session noted that Uzbekistan achieved high indexes of economic growth due to sociopolitical and economic stability in our country despite the world economic crisis as well as due to timely anticrisis measures is a strong stimulus for foreign investors to cooperate with Uzbekistan.

The participation of a range of large UK companies in the session is an evidence of high interest of this country to development of cooperation with Uzbekistan.

"Uzbekistan and Great Britain are two states with a huge economic potential," said Co-chairman of Uzbek-British Trade and Industry Council Dr. Hartley Booth. "I would like to emphasize the gradual development of trade economic relations and strengthening cooperation between businessmen of two states. Uzbekistan has extensive opportunities in agriculture. We plan to implement a range of new projects in this direction. I have visited your ancient and beautiful cities Bukhara and Samarkand several times. The participation of a number of large tourist companies in this event opens new favorable directions for expansion of cooperation."

The participants exchanged opinions on economic potential of Uzbekistan and UK. Special attention was paid to the increase of the bilateral turnover, the number of joint enterprises and joint projects in Navoi free industrial economic zone.