On July 27 this year, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov had a number of meetings with the heads of Turkish companies and commercial organizations during the visit of the Delegation of the Republic of Uzbekistan to Ankara.

Negotiations touched upon current interaction, opportunities for its expansion in the near future, and also elaboration of existing issues under implementation of joint projects and initiatives.

The conversation with Director General of the Turkish Khalk Bank O. Arslan considered prerequisites to open this Bank in the market of Uzbekistan. In particular, the dialogue touched upon the prospects for the participation of Khalk Bank in the privatization of the state share in the commercial banks of Uzbekistan, as well as the opening of credit lines to Uzbek banks to co-finance promising investment projects.

The meeting with Director General of Aksa Energy J. Kazanci involved discussion of current issues related to the project for the construction of 240 MW thermal power plant in Tashkent region worth USD 60 million, and measures to accelerate it. They also considered the prospects to expand investment cooperation by attracting the company to industrial production of power, as well as to participate in accommodation sector projects.  

The meaningful dialogue with Chairman of the Board of Directors of  Cengiz Holding, M. Cengiz provided comprehensive consideration of prospects for investment cooperation in construction, energy, mining, aviation and tourism, as well as in insurance.

The dialogue with with Chairman of the Supervisory Board of the Dal Teknik Makina, D. Dal emphasized successful experience of the Turkish investor in the implementation of high-tech projects in Uzbekistan.

For reference: Currently, Dal Teknik Makina has implemented a metal processing project in the Angren FEZ worth USD 17 million, as well as a project for the production of cement in Jizzakh region worth USD 10 million.

During the conversation, the parties reviewed current activities of these enterprises and agreed to promptly work out measures to resolve them.

The negotiations with the Founder of the textile company Agata Textile, N. Yildiz, provided discussion on the opportunities to establish investment cooperation through the creation of joint ventures in Uzbekistan, which will quickly launch the production of high-quality products under well-known brands that are in stable demand globally.

For reference: Agata Textile was established in 1970. Since 1976 the company has been operating as Hira Textile and cooperates with the largest brand companies in the world, such as Enrico Marinelli, Lacoste, Nautica, Marco Moralli.

There was a fruitful meeting with the Founder of Kahve Diyarı, E. Uzegen, which currently includes 120 franchised coffee houses in 48 regions of Turkey. The Turkish side expressed its willingness to participate in joint projects in Uzbekistan and agreed to establish contacts with potential Uzbek partners.

The meetings with Turkish entrepreneurs resulted in identification of further practical deeds focused on sustainable mutually beneficial cooperation and strengthening of the position of Turkish capital in the Uzbek market.