Fri 11 2015 10:33:56
Tashkent, Uzbekistan (UzDaily.com) -- The 22nd session of the Uzbek-British Trade and Industry Council (UBTIC) took place at the Royal Over-Seas League in London on 18 November 2015
The primary objective of this UBTIC session was to help take business links between the 2 countries to a new level, and to increase awareness of the business opportunities in both countries.
The meeting was chaired by the British Co-Chair of UBTIC Dame Barbara Hay DCMG, LVO, MBE. The Uzbek First Deputy Minister of Foreign Affairs Mr Javlon Vakhabov represented the Government of Uzbekistan and led a delegation of Uzbek officials representing different sectors of the Uzbek economy.
During the UBTIC plenary session, the Uzbek delegation outlined the current trade and investment situation in Uzbekistan and the potential for developing bilateral trade in diverse sectors such as: oil and gas, chemicals, energy, engineering, mining, pharmaceuticals and food.
The Uzbek delegation also informed representatives from around 80 British companies about the opportunities for foreign investors to participate in a range of investment projects in Uzbekistan.
They also described the efforts of the Government of Uzbekistan to pursue strategic programmes of economic restructuring, modernisation and industrial diversification, as well as infrastructure development and privatisation.
The Uzbek and UK delegations had a chance to build further contacts at a reception hosted by the Embassy of Uzbekistan in London.
On 18 November 2015 the First Deputy Minister Mr Vakhabov held a bilateral meeting with Mr Tobias Ellwood MP, Parliamentary Under Secretary of State at the Foreign and Commonwealth Office
UBTIC is a trade promotion body which was established under a bilateral agreement in 1994 and supports and assists UK businesses currently operating in Uzbekistan, or wishing to invest in the country. It offers an annual forum for promoting the development of trade and investment relations between Uzbekistan and the United Kingdom and alternates between Tashkent and London.
The newly appointed British Co-Chair is Dame Barbara Hay DCMG, LVO, MBE and the Uzbek Co-Chair is H.E. Mr. Elyor Ganiev, Minister for Foreign Economic Relations, Investments and Trade of Uzbekistan.
As Her Majesty’s Ambassador Christopher Allan noted: “UBTIC is an important annual event for the UK and for Uzbekistan. We are looking forward to welcoming the Uzbek delegation to London this week, and to working with them and British business to explore further opportunities for bilateral trade and investment”.
Dame Barbara Hay also expressed her positive views on UBTIC meeting: "This year's annual UBTIC meeting in London comes soon after the important International Investment Conference which I attended in Tashkent earlier this month. The timing could not be better, therefore, for senior Uzbek officials and British companies to discuss both the new opportunities opening up in Uzbekistan and how to strengthen our existing business partnerships.”