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Uzbekistan and Germany will hold a constituent meeting of the Uzbek-German Business Council in late February, the ministry of foreign economic relations, investments and trade of Uzbekistan reported.

The Council will be established in order to develop trade, economic and investment cooperation between the two countries. It will operate on a permanent basis.

As one of its tasks will become promoting the investment potential of Uzbekistan in Germany, the Council will organize presentations, business forums of business circles, as well as protect the interests of companies operating in the republic in the government and parliament of Germany.

The initiative of establishing a council belongs to the representatives of German companies, which proposed the creation of this structure following the completion of the presentation of economic and agricultural potential of Uzbekistan, held in Berlin within the framework of the international agricultural fair “Green Week 2015,” the ministry reported.

It was earlier reported that Uzbekistan signed contracts and agreements for export of horticultural and textile products totaling more than $130 million to European countries within the framework of the “Green Week”.

In 2014, the Uzbek-German turnover increased by 10 percent compared with 2013 and totaled 461.2 million euros, according to the German Embassy.

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