Uzbekistan’s Ministry of Investments, Foreign Trade opens first foreign representative office
By Trend
The representative office of Uzbekistan’s Ministry of Investments and Foreign Trade was for the first time established abroad - in the United Arab Emirates, Trend reports citing Uzbekistan’s legislation database - Lex.uz.
It is planned that the representative office will carry out system monitoring and promote specific projects and programs of trade, economic, investment, financial and technical cooperation with the UAE, which are included in the roadmaps following the results of visits at the highest and highest levels.
Uzbekistan’s President Shavkat Mirziyoyev paid an official visit to the UAE in March 2019. The parties agreed to implement joint projects and agreements worth more than $10 billion. These include the development of the land port and the Navoi Free Economic Zone, an increase in hydrocarbon production, the construction of solar power plants, as well as an ammonia and urea plant in Uzbekistan’s Syrdarya region.
In accordance with Mirziyoyev’s Decree “On Measures to Improve the Management System in the Sphere of Investments and Foreign Trade”, the Ministry of Investments and Foreign Trade of Uzbekistan was created by merging Uzbekistan’s State Committee on Investments and the Ministry of Foreign Trade.
The Ministry is the authorized state body responsible for the implementation of a unified state investment policy, coordination of attracting foreign investment, primarily direct, cooperation with international financial institutions (manager's offices) and foreign government financial organizations, as well as the formation and coordination of a unified state policy in the field of foreign trade and international economic cooperation.
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