Thursday, 20, January, 2022

Economy

South Korea and Uzbekistan agreed Friday to expedite efforts to clinch a bilateral free trade agreement and to boost cooperation on stable supply chains of key industrial items, Seoul's finance ministry said.

Deliveries of pipeline gas from Uzbekistan to China in January-October topped 2.57 million tons, TASS reported by with reference to the China’s General Customs Administration (GCA).

Uzbekistan has become the first beneficiary of the UK's GSP Enhanced framework. This was announced during a press conference held in Tashkent with the participation of representatives of the Ministry of Investment and Foreign Trade and the British Embassy in Uzbekistan.

At a government meeting on Monday, the President Shavkat Mirziyoyev spoke about the goals for 2022 to reduce poverty and create jobs, as well as measures to effectively organize the activities of mayors’ assistants, the President’s spokesman Sherzod Asadov said.

The conclusion of the Accounts Chamber of the draft State budget of the Republic of Uzbekistan for 2022 Law and the budget message for the next year was published.

The volume of electricity production at hydropower plants (HPPs) in Uzbekistan decreased by 23% due to low water this year, the Ministry of Energy said.

The President Shavkat Mirziyoyev chaired a government meeting on the privatization of state-owned enterprises in Uzbekistan on November 8, the presidential press service said.

The speed of recovery makes Uzbekistan the fastest growing economy in Central Asia, the European Bank for Reconstruction and Development (EBRD) says in its latest Regional Economic Prospects report, published today.

In January-September 2021, Uzbekistan exported 25,171 vehicles worth US$ 242.5 million, the State Statistics Committee said in a report on Monday.

The 22nd meeting of the intergovernmental commission on economic cooperation between Uzbekistan and Russia took place in Moscow on Wednesday, the press service of the Ministry of Investment and Foreign Trade reported.

In January-September 2021, Uzbekistan's international trade topped to US$ 28.2 billion, an increase by US$ 680.4 million (+ 2.5%) to the same period last year, the State Statistics Committee said in a report. But this is still below the pre-COVID period in 2019 - US$ 31.6 billion.

The Uzbekistan Finance Minister Timur Ishmetov in an interview to Ryan Chilcote, on the sidelines of the Uzbekistan Economic Forum, spoke about Uzbekistan’s privatization program and its goals.

On October 25, the Deputy PM/Minister of Investment and Foreign Trade Sardor Umrzakov and Deputy Prime Minister of the Republic of Korea/Minister of Economy and Finance Hong Nam Ki held online talks, the Uzbek Ministry of Investment and Foreign Trade said.

Uzbekistan exported 1.1 million tons of fruits and vegetables worth USD 624.9 million in January - September 2021, the State Statistics Committee said in a report Monday.

On October 6, the President Shavkat Mirziyoyev signed the Measures to further stimulate exploration and improve taxation procedure for subsoil users Decree.

On October 6 was successfully completed the three-year modernization of the Syrdarya TPP with the connection of the 9th power unit of the station to the Common power system.

Uzautosanoat and Turkmenistan-Motors companies signed a memorandum of intent to launch the production of automotive, agricultural and trailer equipment in Turkmenistan. The signing ceremony was held on October 4 as part of the Uzbek-Turkmen Forum.

According to the new edition of the World Bank's Economic Report for Europe and Central Asia, the economic growth in Uzbekistan is expected to rebound in 2021 as the country strengthens its pandemic management.

Yesterday, Tashkent hosted the Uzbek-Turkmen economic forum, the Uzbek Ministry of Investment Foreign Trade reported. The Turkmen government delegation was headed by the Deputy Prime Minister E. Orazgeldyev, and the Uzbek delegation was headed by the Deputy Prime Minister/Minister of Investments and Foreign Trade S. Umurzakov.

By 2025, Uzbekistan plans to conduct IPOs at 30 of the country's major companies, said the Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov at the Tashkent Economic Forum.