Trade turnover between Uzbekistan, U.S. reaches almost $300M

12 September 2018 17:16 (UTC+04:00)

By Kamila Aliyeva

A meeting with U.S. Principal Deputy Assistant Secretary of State for Economic and Business Brian McFeeters, who arrived in Tashkent today, was held at the Uzbek Foreign Ministry on September 12, 2018.

An exchange of views on the state and prospects of building up trade, economic and investment ties between the two countries was held in the context of the implementation of the agreements reached during the official visit of Uzbek President Shavkat Mirziyoyev to the U.S. on May 15-17 this year and his talks with President Donald Trump.

The parties noted positive dynamics in bilateral trade. For eight months of 2018 mutual trade reached almost $ 300 million, while for the whole of 2017 it amounted to $ 210.2 million.

At the same time, it was confirmed that there is a significant potential for further building up mutually beneficial cooperation in this area and the sides stressed the mutual interest in this.

The parties also discussed other issues on the Uzbek-American agenda, including preparations for the American Business Week in Uzbekistan.

The Uzbek president, during his visit to New York, held a series of meetings with representatives of American companies and took part in a bilateral business forum. During the visit, over 20 major business deals between Uzbekistan and U.S. companies were signed, which, if fully implemented, will be worth more than $4.8 billion and could sustain more than 10,000 US jobs and open opportunities for billions of dollars in future contracts.

The United States also ranked first among the countries in investing in Uzbekistan's economy in the first quarter of 2018, according to the Central Bank.

In 2017 the volume of trade turnover between Uzbekistan and the United States amounted to 210.2 million dollars. In the structure of Uzbek exports, the main share falls for services - 71.4 percent, mechanical equipment - 15.7 percent, dried pepper - 3.3 percent and fruit and vegetable products - 3.1 percent. In turn, pharmaceutical products, mechanical and electrical equipment, plastic products, optical instruments and devices, rubber, rubber products, vehicles, artificial fibers are imported from the U.S.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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