Uzbekistan expands its business contacts

Uzbekistan is demonstrating a strong economic growth and is turning into a promising market for investors in Central Asia. According to Munira Aminova, economist, associate professor of the Vesalius College in Brussels, a series of reforms on financial liberalization are being implemented in the Central Asian republic. Today the country is actively expanding business contacts with other states. The World Bank's Doing Business 2018 confirms the development rates of the state. The republic jumped 13 positions in the ranking and was rated 74th. Uzbekistan is among the world’s ten economies with the highest rates of improving the conditions for doing business.


 - The changes in foreign economic policy in Uzbekistan and foreign policy in general have been very positive. We have also seen that multiple trade agreements have been signed in April 2017. We have seen the 16 bilateral trade agreements with Russia for over US$3.5 billion and there have been some contracts signed with Korea, Iran and other countries. But the main focus of foreign economic policy of Uzbekistan is the Central Asian region and countries and cooperation within Central Asia, five countries and plus Afghanistan.

According to the expert, the Central Asian Regional Economic Forum will promote interaction between Uzbekistan and the countries of the region. The initiative to hold the forum was proposed by Uzbek President Shavkat Mirziyoyev at an international conference in Samarkand. The event will be an informal meeting of the leaders of the Central Asian countries, where topics of further development of the region will be discussed.