The Ministry of Economy and Finance of the Republic of Uzbekistan recently hosted a significant meeting with representatives from Pacific Consultants, a company engaged by the Ministry of Economy, Trade and Industry of Japan. The primary objective of this meeting was to collaborate on reducing greenhouse gas emissions and facilitating international trade for Uzbekistan through the Joint Credit Mechanism (JCM).
The Joint Credit Mechanism is a cooperative system supported by Japan, aimed at curbing greenhouse gas emissions in developing countries by implementing modern technologies, with up to 50% compensation. This mechanism plays a crucial role in promoting sustainable practices and reducing environmental impact.
The meeting saw the participation of specialists from Pacific Consultants, who were appointed by the Ministry of Economy, Trade and Industry of Japan. Ailiya Kali and Nous Daiki represented Pacific Consultants, alongside dedicated experts from the Ministry's Department for the Development of the "green" Economy.
As part of the project, "Identification of JCM projects and holding seminars on JCM," Pacific Consultants will conduct seminars on the JCM mechanism in October and November of this year. These seminars aim to enhance the capacity of public institutions and both public and private organizations in Uzbekistan, fostering a deeper understanding of this critical initiative.
During the meeting, both parties exchanged proposals on organizing these seminars at a high level and successfully resolved various organizational matters. Following these productive discussions, an agreement on cooperation under the co-financing mechanism in Uzbekistan was reached, signaling a significant step forward in the nation's commitment to environmental sustainability and international collaboration.
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