Saturday, 23, November, 2024

Economy

In 2020, Uzbekistan purchased 5 BCM of gas from Lukoil at a negotiated price, the Deputy Energy Minister Bekhzot Normatov announced at a press briefing on Friday.

The value of Uzbekistan’s gross foreign exchange and gold reserves as of October 1 topped US$ 33.4 billion, decreasing by US$ 1.15 billion to the last month, the Central Bank said in a report.

Cement prices at exchange trades slightly increased due to the failure of furnaces at Akhangarancement and Jizzakh cement plant, the Antimonopoly Committee said.

The Russian GAZ Group’s commercial vehicles will be assembled in Uzbekistan. This became known during the 21st meeting of the Intergovernmental Commission on Economic Cooperation between Uzbekistan and Russia in Bukhara.

The Tashkent-based enterprise MS RemTex, which is part of the State Defense Industry, plans to organize the assembly of Russian Ural trucks.

On October 12, Bukhara hosted the twenty-first meeting of the Uzbek-Russian Intergovernmental Commission (IGC) on economic cooperation, the Ministry of Investment and Foreign Trade.

On October 12, Bukhara will host a meeting of the intergovernmental commission on economic cooperation between Uzbekistan and Russia, the Russian Ministry of Economic Development said.

In 8 months of 2020, Uzbekistan exported US$ 11.5 million worth of drugs to 11 countries, which is by four times to the last year, the Statistics Committee said in a report.

In 7 months of 2020, Uzbekistan reduced the delivery of fruits and vegetables to China by 44% to US$19 million, EastFruit reported.

The Uzbek First Deputy Minister of Investments and Foreign Trade Laziz Kudratov held online talks with the Turkish Deputy Minister of Trade Gonca Yılmaz Batur, Dunyo reported.

Acwa Power (Saudi Arabia) has installed 10 meteorological masts out of 18 planned to study wind potential research in Peshku and Gijduvan districts of Bukhara province, where the company will build wind power plants (WPPs) with a total capacity of 1000 MW, the press service of the Ministry of Energy said.

At the invitation of the Namangan province governor Khairullo Bozarov, a delegation headed by First Deputy Chairman of the Korean-Uzbek Business Association under the Ministry of Trade, Industry and Energy of the Republic of Korea Kim Chang Keon visited the province to discuss stepping up the implementation of joint projects, Dunyo news agency reported.

The Tajik capital Dushanbe will host a major Uzbek-Tajik business forum which is expected to be attended by Prime Ministers of Uzbekistan Abdulla Aripov and Tajikistan Kokhir Rasulzoda.

More than 200 representatives of the business community of Uzbekistan and Tajikistan are expected to attend the business forum, which will take place in Dushanbe on September 29, Asia-Plus said.

Uzbekistan and Tajikistan businesses will discuss the implementation of joint projects in the fields of industry, trade and tourism.

Last year, 16 documents were signed at the Tajik-Uzbek business forum in Dushanbe, during which multimillion-dollar deals on the export and import of goods and services were inked.

The forum will be held at the Hyatt Regency Dushanbe.

Note: The next meeting of the joint intergovernmental commission of Tajikistan and Uzbekistan on trade, economic, socio-cultural cooperation is also scheduled in Dushanbe on September 28-29.

According to the Tajik Agency of Statistics, over the past five years, Uzbek-Tajik trade figure has grown by almost 3.6 times: from US$ 13 million in 2014 to US$ 362 million in 2019.

However, the coronavirus pandemic has caused a decrease in trade between the two states.

The trade between Uzbekistan and Tajikistan decreased by 11.3% in January-July this year to 2019. The volume of two-way trade YTD has reached US$ 148.4 million.

Uzbekistan exports to Tajikistan natural gas, textile products, mineral fertilizers, plastic, footwear, ceramics, non-ferrous metals, electrical and mechanical equipment and imports primary aluminum, electricity, cotton fiber, ore, cement, raw leather, cocoon, raw silk, various fabrics, alcoholic beverages, carpets and so on.

Uzbekistan's trade in goods in January-August reached US$ 24.5 billion, a 12.7% decrease, or US$ 3.5 billion, compared to the same period last year, the State Statistics Committee said in a report.

Masdar Energy (UAE) has installed four meteorological poles to study wind potential in Tomdi district of Navoi province, the Uzbek Ministry of Energy.

The Uzbekistan Deputy PM Sardor Umurzakov yesterday hosted the Russian Deputy PM Alexei Overchuk at the Ministry of Investments and Foreign Trade.

The Cabinet of Ministers issued the Measures to Improve Activities of Termez Free Economic Zone Resolution creating Termez free economic zone.

The models of cars produced in Uzbekistan are set to be renewed every 5 years. This is provided for by Practical action plan for 2020-2021 to revive economic growth and continue structural changes in Uzbekistan.

Economic growth in Uzbekistan is projected to further decelerate this year as a result of the coronavirus disease (COVID-19) pandemic, weak demand, slowing industrial output, and a decline in services, according to a new report released by the Asian Development Bank (ADB).

Enter Engineering has prepared a schedule for hiring new workers from Uzbekistan’s provinces for the Uzbekistan GTL plant project in Guzar district of the Kashkadarya province. Due to the coronavirus pandemic, the site was practically empty in summer, and many foreign specialists were forced to leave home. Timur Abdullayev, Administrative Director of Enter Engineering, told Kun.uz how the company intends to cope with the pandemic.