Saturday, 27, April, 2024

Economy

The Uzbek Embassy in Beijing organized an online Uzbek-Chinese business forum. According to the Embassy, the event featured a major presentation on Uzbekistan’s large deposits of precious metals and rare minerals.

On February 23, the Deputy Transport Minister Jasurbek Choriev hosted the Airbus Group Vice President for Eastern Europe and Central Asia Jacques Garrigue and discussed the ties and perspective plans of cooperation, the Ministry of Transport said.

Moody's Investors Service says in a new report that the structural reforms that the Government of Uzbekistan (B1 stable) has undertaken since 2016 have addressed many inefficiencies in the economy, but the most difficult reforms, which carry significant political and execution risk, are still ahead.

As part of the two 280 MW-each-capacity combined cycle gas plants project, the second combined cycle power plant at the Takhiatash TPP has reached full capacity, with functional tests underway, the press service of Thermal Power Plants JSC said in a statement.

On February 22, President Shavkat Mirziyoyev familiarized himself with hydropower projects. Note: The hydropower sector development program for 2017-2021 was adopted in May 2017, which included US$ 3.4 billion 65 projects worth, 34 of them are aimed at creating new capacities, 31 - for modernization.

In 2020, Uzbekistan imported US$ 566.8 million worth of timber and wood products from 50 foreign countries, which is US$ 45.1 million less than in 2019, the Statistics Committee said in a report.

A new automobilу plant for trucks and minibuses is under construction in Jizzakh province. The plant’s project was presented to Shavkat Mirziyoyev on Monday.

A meeting with the Swiss Ambassador to Uzbekistan Olivier Chave was held at the State Customs Committee. According to the committee, official documents on Uzbekistan’s accession to the Global Trade Facilitation Program were signed at the meeting.

This program provides support for countries seeking assistance in aligning their trade practices with the World Trade Organization Trade Facilitation Agreement. The program is funded by the Swiss Confederation.

During his visits to Uzbekistan in March and November 2019, the Secretary General of the World Customs Organization Kunio Mikuria offered to join the Global Trade Facilitation Program.

For information, in 2020, Uzbekistan joined the internationally recognized documents in the field of foreign trade - the Kyoto Convention on the simplification and harmonization of Customs procedures and the Istanbul Convention on Temporary Import.

Earlier, it was reported that the Uzbek government will develop a program to apply the preferences of the GSP + system, which will allow to export about 3,000 items to the EU market without customs duties and 3,200 types of products at reduced rates by June 1, 2021.

It is also planned to introduce 5,200 new standards in Uzbekistan, bring 1,723 national standards and 12 technical regulations in line with international requirements.

In 2020, Uzbekistan exported US$ 459.3 million worth of ready-made garments which is by 30% more than in 2019, the State Statistics Committee said.

On February 11, the President Shavkat Mirziyoyev signed the Measures to Further Expedite the Privatization of State-Owned Assets Decree.

Uzbekistan's international trade topped US$ 36.3 billion in 2020, with a trade deficit at US$ 6.04 billion (in 2019, US$ 41.8 billion and US$ 6.8 billion, respectively), the Central Bank's said in its monetary policies review.

The Minister of Agriculture Jamshid Khodjaev hosted the Secretary General of the Cooperation Council of Turkic-Speaking States (CCTS) Baghdad Amreev, the mInistry said in a statement.

On February 12, the Minister of Industry and Infrastructure Development of Kazakhstan Beibut Atamkulov met with the Uzbek Ambassador Saidikrom Niyazhojaev.

The President signed the Measures to Further Expedite Privatization of State-Owned Assets Decree. According to the Decree, when organizing the processes of putting up for public auction and selling the state-owned assets:

At the Wednesday government meeting, Shavkat Mirziyoyev instructed the Deputy PM/Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov and Director of the State-Owned Assets Management Agency (SAMA) Akmalkhon Ortikov to expedite the privatization of companies where the state owns stakes.

In 2020, the total amount of tax revenues topped 103.6 trillion soums, or US$ 10 billion, with 67.7 trillion soums, or 63.3% paid by large taxpayers.

The chief of the Pension Fund, Abdulaziz Khaydarov, at a press conference held on January 29, briefed about the planned changes in the pension system.

The Cabinet of Ministers issued Measures to Support Local Producers Resolution. Norma reports that the document has approved:

Tomorrow, on February 2, Tashkent will host the high-level Uzbek-Afghan-Pakistani talks with the participation of heads of key international financial institutions over the implementation of the Mazar-i-Sharif-Kabul-Peshawar railway project.

A regular meeting of the Eurasian Intergovernmental Council (EIGC) will take place in Almaty on February 5, the Kazakh Foreign Ministry said.