Co-chair of the Uzbek-British Trade and Industry Council (UBTIC) Barbara Hay has visited our country to participate in the 23rd meeting of the board.

The delegation headed by Barbara Hay included representatives of more than 30 British companies operating in the oil and gas industry, energy, mining, food, pharmaceutical, finance, consulting, auditing and education sectors.

The arrival of so distinguished a group of British business circles, according to the cooperation-chair of UBTIC, is indicative of the practical interest and desire to expand mutually beneficial cooperation with Uzbekistan, primarily in the trade-economic, investment and technological spheres.

Participants of the meeting got familiar with the proposals of British and Uzbek companies. Emphasis was placed on promising areas, including oil and gas, energy, mining, pharmaceuticals, education and tourism.

Speaking of the Uzbek economy, the head of the British delegation praised reforms aimed at diversifying the manufacturing sectors and industrial modernization. She said she was particularly impressed by the favorable investment climate and opportunities for successful activities of businesses.

The meeting was preceded by a meeting in the Commerce and Industry Chamber of Uzbekistan. Its chairman and the UBTIC co-chair discussed the joint development and implementation of mutually advancement projects, issues related to boosting the volumes of trade, creation of new joint ventures and expanding the range of their products.

A number of intergovernmental and interdepartmental agreements are signed between Uzbekistan and Great Britain, including those on the avoidance of double taxation from income taxes and prevention of income tax evasion, on mutual encouragement and protection of investments, and on economic cooperation. The United Kingdom is one of Uzbekistan’s major trade partners in Europe.

OPINION:

Pal Singh, director of British Pharma company:

“We have been working in the Uzbek market since 2013. Today we discussed our next steps, including the establishment of an Uzbek-British joint venture for the production of pharmaceutical products in this country. We plan to sign a memorandum of understanding on the establishment of pharmaceuticals production, which will allow us to realize the available potential in the field of management and marketing.”