News article

Uzbek-British Trade and Industry Council meeting held in Tashkent

The 23rd session of the Uzbek-British Trade and Industry Council took place at the International Business Centre in Tashkent on 17 November.

The annual UBTIC plenary session brought together representatives of the Government of Uzbekistan and British companies to help further develop trade and investment relations between the 2 countries.

Plenary session

The plenary session was chaired by the British and Uzbek Co-Chairs of UBTIC - His Excellency Mr Elyor Ganiev, the Minister of Foreign Economic Relations, Investments and Trade of Uzbekistan and Dame Barbara Hay DCMG LVO MBE.

During the session the sides talked about socio-economic developments in Uzbekistan and the UK, prospective investment projects in different sectors of the economy of Uzbekistan and participation of the British companies in those projects.

The British side highlighted the opportunities which could be explored with the support of the UK Export Finance, British companies also made presentations focused around the goods and services they would like to offer in Uzbekistan.

UBTIC 2016 Plenary Session
UBTIC 2016 Plenary Session

Opportunities in Uzbekistan

During the UBTIC plenary session, the Uzbek delegation outlined the potential for developing bilateral trade with the emphasis on the following sectors:

  • oil and gas
  • energy
  • mining
  • pharmaceuticals
  • education
  • tourism

The Uzbek delegation also explained to representatives, from over 30 British companies, potential for the investment in Uzbekistan and recent developments within the framework of Uzbekistan’s privatization programme.

Background

UBTIC is a trade promotion body which:

  • was established under a bilateral agreement in 1994
  • supports and assists UK businesses currently operating in Uzbekistan, or wishing to do business in the country
  • offers an annual forum for promoting the development of trade and investment relations between Uzbekistan and the United Kingdom
  • alternates between Tashkent and London
  • is jointly chaired by representatives of the 2 sides