Azernews.Az

By Abdul Kerimkhanov

While U.S.-Uzbek relations in economic sphere experience a rise in 2018, another important visit of American official is planned for October.

U.S. Commerce Secretary Wilbur Ross will visit Uzbekistan for the first time, Uzbek media outlets reported.

During the visit, several large contracts in the sphere of economy and trade will be signed.

A visit by an American official is scheduled for this month. The exact date of Wilbur Ross’s visit to Uzbekistan is not reported yet. It is noted that the U.S. Commerce Secretary will take part in the U.S. and Uzbekistan Business Week scheduled for October 15-19.

For the eight months of this year, the countries' trade reached almost $ 300 million, while for the whole of 2017 this figure reached only $ 210 million.

The “U.S. Business Week” will be organized for the first time in Uzbekistan.

During this week, a meeting of the Council of the Framework Agreement on Trade and Investment between the United States and the States of Central Asia (TIFA), the Central Asian Trade Forum and the Uzbek-American Business Forum will be held.

This year, the focus of the Central Asian Trade Forum is on innovations and reforms in Central Asia, including e-commerce, rural development and policy reform.

The Uzbek president, during his visit to New York on May 15-17, 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 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.

---

Follow us on Twitter @AzerNewsAz