The fourth meeting of the German-Uzbek Business Council today in Tashkent. As reported earlier one of the biggest ever delegation including 70 German business executives is visiting Uzbekistan between May 14-16.

"We propose cooperation to our German partners in implementing joint projects, which will elevate our trade-economic ties to a new level'' the Uzbek PM Abdulla Aripov said in his opening remarks at the council.  

"The Government of Uzbekistan is taking serious steps to build an open market-based economy. I am pretty sure that Uzbekistan will make a "major leap forward" in the next two years," he added. 

"We propose to set up a special German industrial zone in Tashkent ... We are ready to hand over this zone for management to a German company", - said the head of government. The industrial zone is to be located on 16 hectares at the former Algoritm plant.

"I am sure that the creation of such a zone - the only one of its kind in Uzbekistan - will attract more German businesses into Uzbekistan", - said Abdulla Aripov.

He added that Uzbekistan was ready to significantly step up cooperation with German companies in provinces, to the existing 14 free economic zones, where investors enjoy long term tax and customs privileges, and there are also 80 small industrial zones, where investors can obtain production facilities at zero rate with investment obligations.

In addition, German businesses were proposed to consider the possibility of establishing of the German-Uzbek foreign trade chamber in Tashkent, which would be representing interests of German companies in Uzbekistan.

The first meeting of the German-Uzbek Business Council, established by more than 50 German companies and  banks, took place in Berlin in February 2015.