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On April 3, the International Business Center in Tashkent hosted a session of the Uzbek-Bulgarian intergovernmental commission for trade-economic and scientific-technical cooperation.
The event, which was organized by the Ministry for Foreign Economic Affairs, Investment and Trade of Uzbekistan and the Ministry of Regional Development and Public Works of Bulgaria, was attended by the representatives of a number of ministries and establishments, firms and companies working in spheres such as energy, financing, banking, transport, tourism, agriculture, pharmaceuticals, food and others.
The Minister of Foreign Economic Affairs, Investment and Trade of Uzbekistan and Co-Chairman of the Joint Commission Elyor Ganiyev, noted in his speech that the Republic of Bulgaria is an important partner of Uzbekistan in Europe. He also underlined the successive development of the bilateral relations in all spheres. The agreements reached during the meetings of the heads of both states form an important legal foundation for this process.
Asen Gagauzov, head of the Bulgarian delegation, Minister of Regional Development and Public Works and Co-Chairman of the Joint Commission said that the traditional cooperation in the political, trade-economic, public and cultural spheres between our two states is developing successively and is based on the principles of friendship, mutual respect, trust and interest.
The potential of our countries in terms of the development of mutual trade and economic relations is big. However, it is believed that the existing potential is not being utilized fully. In 2006 the commodity turnover between the two states totaled US$ 4,13 million.
The export of Uzbekistan to Bulgaria is primarily composed of cotton fiber, yarn, non-ferrous metals, mechanical equipment, chemical and petrochemical products. Bulgaria, in turn, exports to Uzbekistan medication, plastic, essential oils, confectionary and haberdashery.
Uzbekistan has around twenty joint ventures established with the participation of Bulgarian investments and six offices of Bulgarian companies. Bulgaria is home to around twenty Uzbek-Bulgarian joint ventures.
The mutual relations between our two countries are based on almost thirty documents signed at intergovernmental and interdepartmental levels. Among them are agreements on mutual stimulation and protection of investments, and those on economic and scientific cooperation.
The session of the Joint Commission discussed perspectives of further development of trade and economic and scientific cooperation of the two states and determined possible spheres of cooperation. The Commission also discussed issues of increasing the number of joint ventures and commodity turnover. The two parties exchanged opinions on the problems relating to the development and implementation of mutually beneficial joint projects.
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Date: Apr 05, 2007
Source: Uzbekistan Today |
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