EU to allocate around 70 mln euros to Uzbekistan

By Aynur Jafarova

The European Union (EU) can allocate around 70 million euros to Uzbekistan to support the development of the country in the coming years.

The news was announced by the EU representative office in Uzbekistan, Trend news agency reported.

The EU has provided about 72 million euros to support the development of Uzbekistan in 2007-2013, and this amount can reach 68 million euros in 2014-2020, the representative office said.

The parties intend to continue work on the development and complete implementation of this potential, including the expansion of investment cooperation and attraction of EU investments in the Uzbek economy.

Uzbekistan and the EU signed an agreement "On partnership and cooperation" in 1996.

The EU representative office was opened in Tashkent in 2012.

Currently, cooperation between the EU and Uzbekistan is developing in several directions.

In 2013, the volume of trade between the EU and Uzbekistan amounted to about 1.65 billion euros. Experts believe this figure does not reflect the existing potential for cooperation.