Uzbekistan,EU enjoy huge untapped potential in trade
The European Union and Uzbekistan plan to create a Council on foreign investments and trade in the first half of 2016, Head of the EU Delegation in Uzbekistan Yuri Sterk said.
“Uzbekistan and the EU have huge untapped potential. The sides are negotiating to create a council on investments and trade for the use of this potential,” said Sterk adding that it was discussed at the level of ministers for several times.
He noted that the creation of the Council will expand mutual beneficial cooperation between Uzbekistan and the EU in trade-economic, investment and financial-technical cooperation.
The council could help to solve concrete projects, and offer proposals to improve business climate in Uzbekistan, he added.
The envoy said that it is necessary to establish a mechanism of interaction of private businesses and state bodies of the EU and Uzbekistan to efficiently solve problems of businesses and eliminate barriers.
Uzbekistan and the EU signed an Agreement on partnership and Cooperation in 1996.
In July 2015, the EU approved the amount of aid to Uzbekistan for 2014-2020 in the amount of 168 million euros.
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