In a momentous gathering convened on October 12, the Minister of Digitization of Uzbekistan, in collaboration with the Ambassador of Great Britain to Uzbekistan, explored captivating avenues for collaboration and growth in the domains of digitization and telecommunications within the Central Asian nation.
The British Ambassador, in attendance at the meeting, lauded the transformative changes taking place in the fields of digitization and telecommunications across Uzbekistan. He emphasized the impressive progress being made and expressed optimism about the future possibilities that await in this dynamic sector.
One of the key topics of discussion centered around the potential for cooperation in IT education, the export of IT services, and elevating existing opportunities to new heights. Uzbekistan's commitment to fostering a strong IT ecosystem and nurturing local talent in the technology sphere was met with keen interest by the British Ambassador.
Furthermore, detailed explanations were provided regarding the conducive conditions created in the IT sector in Uzbekistan, including incentives for foreign companies, such as IT visas and other benefits, to foster a favorable investment environment in the nation. This showcases Uzbekistan's openness to international collaborations and the eagerness to welcome foreign expertise and investments.
A special focus was placed on establishing partnerships with prominent foreign IT companies and implementing joint projects with them. The discussion also highlighted the potential for bilateral cooperation in the realm of Business Process Outsourcing (BPO) services, with the British Embassy playing a pivotal role in facilitating such endeavors. This collaborative approach demonstrates Uzbekistan's commitment to forging strategic alliances to further develop its digital landscape.
The British Ambassador's visit and the productive dialogue between the Minister of Digitization and the British Embassy underscore the mutual interest in fostering innovation and digital transformation in Uzbekistan. This meeting has laid the foundation for prospective collaborations that will strengthen the digital infrastructure of the country and create new opportunities for economic growth and technological advancement.
Uzbekistan and UK Cooperation
Central Asia is among the fastest-growing areas globally, and with the expectation of a 5.4% growth rate in the wider Central Asian region in 2024, Uzbekistan presents clear and tangible prospects for UK enterprises.
The United Kingdom has expressed interest in expanding trade and investment ties, particularly in sectors like agriculture, textiles, mining, and renewable energy, while also being involved in Uzbekistan's cotton and mining industries. In August, Lord Offord, the Exports Minister, during his three-day mission, engaged with government officials and industry leaders, with a particular focus on infrastructure and mining ventures to enhance trade ties.
The current total trade between the UK and Uzbekistan stands at a modest £267mn ($325mn), making cooperation between the two nations crucial and beneficial for both. In fact, Uzbekistan was the UK's 121st largest trading partner in the four quarters to the end of Q1 2023 accounting for less than 0.1% of total UK trade.
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