{"id":20337,"date":"2021-07-01T09:00:48","date_gmt":"2021-07-01T04:00:48","guid":{"rendered":"http:\/\/evu.uz\/?p=20337"},"modified":"2021-09-01T19:08:44","modified_gmt":"2021-09-01T14:08:44","slug":"english-uzbekistan-germany-new-horizons-for-economic-cooperation","status":"publish","type":"post","link":"https:\/\/evu.uz\/uz\/magazine\/english-uzbekistan-germany-new-horizons-for-economic-cooperation.html","title":{"rendered":"(English) Uzbekistan – Germany: New Horizons for Economic Cooperation"},"content":{"rendered":"

Bunaqa til mavjud emas \u201cEnglish<\/a>\u201d. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language.<\/p>

\u00a0 \u00a0 \u00a0The Federal Republic of Germany was one of the first countries of the European Union to recognize the independence of the Republic of Uzbekistan on December 31, 1991. In March of the following year, diplomatic relations were established between our countries.
\r\n\u00a0 \u00a0 \u00a0As one of the leading powers in the world with a huge economic, scientific and technological potential, Germany occupies an important place among the main trade and economic partners of Uzbekistan.
\r\n\u00a0 \u00a0 \u00a0The exchange of high-level visits in January and May 2019 demonstrated the beginning of a new stage in relations between our countries. The talks of the heads of state gave a significant dynamism to bilateral cooperation in all areas, which is evidenced by statistical indicators. Thus, over the past 2-3 years, the trade turnover between Uzbekistan and Germany has grown by almost 60 percent. In terms of the growth rate of mutual trade, this is one of the highest indicators in the statistics of trade between Germany and the countries of Eastern Europe and the CIS.
\r\n\u00a0 \u00a0 \u00a0At the same time, it is important to note that recently the export of domestic products to Germany has also grown significantly: by the end of 2020, this indicator, despite the quarantine restrictions, increased by more than 30 percent. Products of the textile, agricultural, chemical and metallurgical industries are exported to Germany from our republic. The basis of imports from Germany is traditionally made up of advanced innovative technologies and equipment necessary for the re-equipment of the domestic industry and modernization of Uzbek enterprises.
\r\n\u00a0 \u00a0 \u00a0The new policy of openness of Uzbekistan contributed to the revival of investment activity, the readiness of the business circles of our countries to conduct joint business. Central Asia has always attracted the attention of Europe. The huge changes taking place in the political and economic life of the region in recent years have been enthusiastically received by the world community. These transformations and reforms, initiated and successfully implemented by the President of Uzbekistan Sh. Mirziyoyev, raised the importance of the republic, and it took its rightful place in the world economy and politics. The voice of Uzbekistan is being listened to and reckoned with. The countries of Europe supported the initiatives of the Uzbek leader, and Germany, like thirty years ago, was among the first to lend a hand to the new Uzbekistan.
\r\n\u00a0 \u00a0 \u00a0Demonstrating huge potential in almost any area of the economy, creating a favorable business climate and preparing a reliable legal framework for the protection of foreign investments, the country thereby opened up the opportunity for foreign investors to take an active part in the development of its economy within the framework of mutually beneficial partnerships. The German investments made yesterday in the economy of Uzbekistan are yielding very positive results today. So, at present, there are 193 enterprises in Uzbekistan with participation of investors from Germany, including 67 enterprises with 100% foreign capital, and representative offices of 31 companies.
\r\n\u00a0 \u00a0 \u00a0In 2020, within the framework of about 110 investment projects, the volume of utilized German investments, despite the global economic crisis that developed as a result of the spread of the coronavirus, increased by 25% compared to the prosperous 2019, exceeding USD 710 million. Thus, by the end of 2020, Germany became one of the leaders among investors in the economy of Uzbekistan after Russia and China, – its share amounted to about 14% of the total volume of attracted foreign investments. In 2021, it is planned to utilize USD 879.1 million within the framework of joint projects in the field of textile and food industries, pharmaceuticals, agriculture, production of building materials and others.
\r\n\u00a0 \u00a0 \u00a0Examples of successful cooperation in the investment sphere are projects for production of modern trucks with the MAN company, agricultural machinery with the Claas enterprise and Lemken, building materials with Knauf, cable and wire products with Deutsche Cable and many others.
\r\n\u00a0 \u00a0 \u00a0In order to activate trade, economic and investment ties, as well as maintain a regular dialogue between the Government of Uzbekistan and the business circles of Germany, the German-Uzbek Business Council (GUBC) was created, the next, 5th meeting of which is planned for Autumn this year. The German part of the GUBS includes the heads of more than 50 large German companies, such as MAN, Airbus, Claas, Siemens, Wiessmann, Deutsche Bahn AG, Lemken, Commerzbank and others.
\r\n\u00a0 \u00a0 \u00a0The evidence of the significant interest of German business in investment cooperation with Uzbekistan is the opening in 2020 in Tashkent of the offices of the German Development Bank KfW, the Representative Office of the Association of Chambers of Commerce and Industry of Germany and the Federal Association of Small and Medium Businesses.
\r\n\u00a0 \u00a0 \u00a0Through the Institute for Financial and Technical Cooperation, the German Federal Government provides Uzbekistan with multifaceted assistance. Within the framework of these programs, since 1993, Germany has provided the Republic of Uzbekistan with about 500 million euros in the form of grants and soft loans. At the expense of these funds, many projects in the field of health care, vocational education, agriculture and water management, ecology and other areas have been implemented in the republic.
\r\n\u00a0 \u00a0 \u00a0In accordance with the new \u201cStrategy 2030\u201d adopted by the Federal Ministry of Economic Cooperation and Development of Germany, Uzbekistan is defined as the only partner country in Central Asia, which is also a recognition of the reform process being carried out in our country.
\r\n\u00a0 \u00a0 \u00a0The online talks held on March 12, 2021 between President of Uzbekistan Shavkat Mirziyoyev and Chancellor of the Federal Republic of Germany Angela Merkel became a logical continuation of the consistent development of Uzbek-German cooperation and testify to Germany\u2019s continued support for a new course of democratic and economic transformations in Uzbekistan, and bringing of bilateral relations to a qualitatively new level.<\/div>\r\n
\u00a0<\/div>\r\n
\u00a0<\/div>\r\n
Gayrat FAZILOV, <\/em><\/strong>
\r\nDeputy Minister of Foreign Affairs of the Republic of Uzbekistan<\/em><\/div>\r\n