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By Kamila Aliyeva

The first meeting of EU-Uzbekistan subcommittee on cooperation for development was held on April 27.

The parties plan to include projects in the energy sector and the mining industry in the renewed Partnership and Cooperation Agreement (PCA), RIA Novosti reported.

“We very much hope that the dynamics of such support will continue and we will expand not only the volumes, but also the areas of cooperation with the EU,” Shukhrat Vafayev, co-chairman of the subcommittee, deputy chairman of the Uzbek State Committee for Investments, said while addressing the opening of the meeting.

He noted that Uzbekistan and the EU should establish cooperation in attracting European companies to the development of mining deposits, as well as new European technologies to the country’s energy sector after 2020.

Currently, the EU actively supports the agricultural sector of Uzbekistan.

The co-chairman recalled that in June 2017, Uzbekistan and the European Investment Bank (EIB) established cooperation which should become an important contribution to increasing the interest of European companies in Uzbekistan.

He noted that EIB delegation will visit Uzbekistan next month and the sides will be able to sign a number of agreements.

Co-chairman of the subcommittee, representative of the European Commission Directorate for Development of Cooperation Raffaella Iodice noted that it is necessary to launch a dialogue for further development of cooperation at this meeting.

“We would like to open a window for financial investments in a bilateral and regional format. Investing in energy is very important,” she added.

Uzbekistan as the most populous country in the very heart of Central Asia is an important partner for the EU.

The EU mainly focuses on the projects on the development of rural areas in Uzbekistan, in particular, improving irrigation infrastructure, introducing renewable energy in agribusiness, as well as assisting program on creation of jobs in the country's regions.

Relations between the EU and Uzbekistan are based on the Partnership and Cooperation Agreement (PCA) which entered into force in 1996. Since this time, the EU has allocated considerable amount of money to develop the domestic industry of the country.

Financial aid in the amount of 168 million euros was approved for this Central Asian country for 2014-2020. These funds will be used to improve the irrigation infrastructure, introduce renewable energy sources in agribusiness, and promote a program to create new jobs in the regions.

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

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