The Czech Republic is one of Uzbekistan’s most significant European partners

UZA News

A delegation from the Czech Republic headed by Minister of Industry and Trade Jozef Síkela visited Uzbekistan.

Minister of Investment, Industry and Trade Laziz Kudratov and the delegation held the 9th meeting of the Intergovernmental Commission on Economic, Industrial, Scientific and Technical Cooperation between Uzbekistan and the Czech Republic. An Uzbekistan – Czech Business Forum was also conducted.

The parties noted that relations between Uzbekistan and the Czech Republic are progressing and cooperation is entering a new phase. They explored further expansion of mutually beneficial partnerships, the full use of the great potential of countries, the implementation of promising projects, and the intensification of contacts.

It was mentioned that almost 50 joint ventures with Czech capital are currently operating in Uzbekistan. This year, the trade turnover has increased 2.6 times. The Czech Republic is a key partner of Uzbekistan in Europe. In recent years, economic and investment relations have been especially strengthened. In 2022, the trade turnover amounted to $184.8 million, including exports – $30.5 million and imports of $154.2 million.

“We are delighted to meet with representatives of the business community of Uzbekistan and have an open and sincere dialogue”, says Jozef Síkela. – This will help to further strengthen bilateral relations and bring trade and economic partnership to a new level. There are significant efforts being made in Central Asia to develop the economy and improve the region’s standing in the world through the effective use of national resources. We view Uzbekistan as one of the most dependable partners. We discussed investment, sustainable development, and mutually beneficial cooperation at the meeting. This will be beneficial for our countries and people.

At the forum, detailed information was given about the opportunities created in Uzbekistan, natural resources, large-scale reforms in the banking and financial sector, and insurance.

B2B meetings were held with the participation of representatives of the business circles of the two countries. The experience of Czech companies in doing business in Uzbekistan was presented. Issues of creating new joint ventures and developing investment projects were also discussed.


Guzal Sattorova, photos by Muhammad Amin, UzA

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