On July 30 this year, there was a video-conference with the top officials of the Federal Association of Small and Medium-Sized Enterprises of Germany (BVMW) and the European Union of National Associations of Small and Medium-Sized Enterprises (CEA-PME), as well as representatives of German industrial, transport and logistics companies.

The event involved Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov, heads of sectoral ministries and departments from Uzbek side, heads of 38 German companies, such as Schneider Group, Durum, RSP International, Medikos Cosmetic representing ICT, electrical engineering, medical cosmetics, construction materials and other sectors from the German side.

The video-conference involved discussion of the progress and prospects in the development of investment cooperation, as well as new areas of mutually beneficial partnership.

Representatives of German business presented materials on the operation of the companies and the implementation of joint projects in Uzbekistan. Foreign entrepreneurs positively assessed the efforts of the Government of Uzbekistan to improve the investment climate, regulatory framework, develop infrastructure, fight corruption, and expressed their willingness to expand their operation in the Republic.

The video-conference also provided Q and A session related to the fuel and energy, banking sector, tariff and non-tariff regulation, tax administration. Here, the foreign entrepreneurs and potential partners received detailed information from representatives of ministries and sectoral departments of Uzbekistan.

The event resulted in identification of further steps to enhance cooperation, including the visit of the working group of the Federal Association of Small and Medium-Sized Enterprises of Germany to Uzbekistan. It was emphasized that the common priority was the search for promising points of growth of cooperation between the German and Uzbek business communities, and the joint elaboration of specific proposals for the development of new areas of industrial interaction.