OREANDA-NEWS. July 07, 2011. Tashkent International Business Center hosted the forum of business circles of Uzbekistan and Germany.

The event, organized by the Ministry for foreign economic relations, investments and trade and the Chamber of commerce and industry of Uzbekistan, focused on expansion of Uzbek-German economic, trade and investment cooperation.

Deputy minister for foreign economic relations, investments and trade Shavkat Tulaganov highlighted the active development of mutual relations between Uzbekistan and Germany in all fields, including financial and technical areas.

Germany is one of the important trade partners of Uzbekistan in Europe and an active investor in the Uzbek economy. Numerous investment projects worth over EUR 1 billion were realized in Uzbekistan with the participation of German investors. Relations between the two countries are based on more than 100 documents of interstate, intergovernmental and interdepartmental levels. Among them are agreements on cooperation in investment, financial and technical spheres, privatization and state property management, as well as personnel training.

In 2010, mutual trade exceeded USD 483 million, and in January-April 2011 the figure made up USD 184.4 million. There are 116 joint ventures created with participation of German investors, and 50 representative offices of German companies in Uzbekistan. They operate in areas like light industry, medicine and pharmaceuticals, scientific research, trade, agricultural processing, transportation of passengers and goods, automotive services, etc.

In various sectors of economy of Uzbekistan, large investment projects with participation of German banks are implemented. The universities and research institutes of the two countries have established a mutually beneficial partnership. Joint research is conducted in industry, agriculture, natural resource management and other areas.