Uzbekistan and US to ramp up bilateral trade volume

On October 17, Minister of Investments and Foreign Trade Jamshid Khojayev met US Deputy Secretary of Commerce Marisa Lago to discuss the current state of trade and economic relations between the countries, the ministry’s press service reports.

The politicians agreed to accelerate the process of signing a bilateral investment agreement, attracting American companies and financial institutions to the implementation of joint projects in the mining, chemical and petrochemical industries, agriculture, textile industry and other sectors in Uzbekistan.

The parties noted a positive trend in mutual trade where the number of companies with US capital in Uzbekistan has doubled hitting 315.  This indicator increased by 53% in 2021, reaching almost half a billion dollars, and in January-August 2022.

Additionally, the Uzbek side expressed its gratitude for USAID's comprehensive support in Uzbekistan's accession to the WTO and agreed to maximize the potential of economic cooperation between Uzbekistan and the USA.