During the meeting with Uzbekistan Minister
On the final leg of their CIS Regional Trade Mission to Kazakhstan and Uzbekistan, the Dubai Chamber of Commerce and Industry organised a strategic business forum as well as a meeting with H.E. Elyor Ganiev, Uzbek Minister for Foreign Economic Relations, Investment and Trade, emphasising on establishing rewarding business partnerships between the two sides.
Also, the delegation had 30 one-to-one meetings on the sidelines of the Uzbekistan-UAE Business Forum ‘Connecting Dubai and the CIS’ held in association with the Uzbekistan Chamber of Commerce and Industry, in the Uzbek capital Tashkent, where over 100 participants from both the sides explored joint cooperation as well as lucrative investment sectors.
In his welcome address, H.E. Dr. Alisher Shaykhov, Chairman, Uzbekistan Chamber of Commerce and Industry, called upon UAE companies to invest in Uzbek markets which he said offered good returns to foreign investors and urged the visiting delegation to work jointly on their common areas of interest.
He further said that his country looked Dubai’s economic growth with admiration and would like to benefit from the emirate’s experience of establishing free economic zones.
In his opening remarks as head of the Dubai delegation, H.E. Abdul Rahman Saif Al Ghurair, Chairman, Dubai Chamber, stated that the trade mission’s objective was to build strong bilateral relationship with the Commonwealth of Independent States and Uzbekistan offered an ideal entry point for connecting with the region.
In his presentation on Dubai’s economic progress, H.E. Hamad Buamim, Director General, Dubai Chamber, highlighted investment opportunities in Dubai, and areas of cooperation between Uzbekistan and Dubai businesses including trade and logistics, construction and real estate, hospitality and tourism, agriculture and food industries, natural resources, energy and financial services.
He also lauded the support and cooperation provided by the UAE Embassy in Uzbekistan in facilitating the delegations’ meetings with Uzbek officials.
Presenting the investment climate in Uzbekistan, Mr. Djamshid Abdurakhimov, Deputy Director, Uzinfoinvest Agency, gave an example of investment in the development of the Navoi Free Zone Airport whose first phase will see the cargo capacity increased to 300 tonnes per day while the second phase will raise the capacity to 1,000 tonnes per day.
During his meeting with the Dubai delegation, H.E. Elyor Ganiev, Uzbek Minister for Foreign Economic Relations, Investment and Trade said that the visit was a milestone in the UAE and Uzbekistan’s bilateral relations as he expressed his country’s commitment and support to UAE businesses.
The Uzbek Minister took the opportunity to highlight the various lucrative sectors including the automotive and pharmaceutical industries, aviation, textiles and agricultural products, and the benefits of investing in the country’s industrial free zones.
On his part, H.E. Buamim informed the Minister about the success of the Uzbekistan-UAE Business Forum which he said led to businesses from both the sides to discuss common areas of investments as he also stressed on the opening of direct flights between Dubai and important cities of Uzbekistan as well as the easing of visa procedures which would allow Dubai companies to share their experiences with their Uzbek counterparts.
The Director General of Dubai Chamber added that Dubai serves as a gateway for Uzbek companies to reach out to clients in Africa while Uzbekistan can be the hub for Dubai companies to trade with CIS businesses.
The Uzbek Minister for Foreign Economic Relations, Investment and Trade stressed on Dubai companies investing in tourism as well as building and managing of hotels in Uzbekistan as he said that there were more Uzbek tourists visiting Dubai than the Emiratis visiting Uzbekistan and that his country was looking forward to accommodate more visitors.
H.E. Hisham Al Shirawi, Chairman, Economic Zones World, called upon Uzbek companies to benefit from Dubai’s experience of managing free zones through short or long-term plans or through bilateral agreements.
The Minister welcomed the proposal as he lauded the achievement of the Jebel Ali Free Zone which he said has become a known name in the global free zone sector.
During a roundtable on Turning Ideas into Actions, the Dubai delegation and Uzbekistan Chamber officials discussed investment opportunities in Uzbekistan where the UAE businessmen enquired about doing business and FDI facilities offered to overseas investors in Uzbekistan.