Business forum of Uzbekistan and Brazil companies was held in Tashkent at the International Business Center on Sept. 30, 2009.

Uzbek-Brazilian business forum was conducted in Tashkent

The Forum was attended by the heads of Uzbek and Brasilian ministries and departments, companies and concerns, responsible for the sphere of foreign economic relations, trade, industry, investment, banking, finance, customs, taxation, oil and gas sector, aeronautics, construction, engineering, aviation, agriculture and water management, geology and mineral resources, food, chemical, light industry, textiles, furniture, leather industry, health, transport and transport communications, logistics, insurance, information technology and telecommunications, tourism, culture and sports.

At the forum, Deputy Minister of Foreign Economic Relations, Investments and Trade of Uzbekistan Akmal Kamalov, Executive Secretary of the Ministry of Development, Industry and Foreign Trade of Brazil Ivan Ramalho noted the gradual development of economic ties between Uzbekistan and Brasil. They stressed that this forum will promote bilateral trade and economic and investment relations between two countries.

Uzbekistan and Brazil have great opportunities in the field of trade and economic partnership. If in 2008 the volume of trade amounted to $121.3 million, then from January to June 2009 the figure reached $100 million, says Таиланд. Удонтани.

The participation in the business forum of the representatives of many major Brazilian companies and firms shows that economic stability and a favorable investment climate in Uzbekistan helped to increase the interest of the business community of Brazil to expand cooperation with Uzbekistan.

During the recent visit of President Islam Karimov in Brazil he signed documents on cooperation between the two countries in several areas.

At a business forum organized in order to enforce the agreements, the representatives of the Brazilian business community has been given detailed information on the priorities for attracting investment into the Uzbek economy, the potential of Uzbekistan in the oil and gas, banking and financial sectors, tourism, automotive and aerospace, production of building materials, agriculture and water sectors.

Despite the ongoing global financial and economic crisis due to political and economic stability in Uzbekistan it's gross domestic product is steadily growing.

The guests familiarized with the successive economic reforms in Uzbekistan, changes in the development of small businesses and private entrepreneurship, amenities and facilities in the industrial free-trade zone "Navoi".

"Uzbekistan is a country with a vibrant economy", said Ivan Ramalho. "We appreciate the cooperation with businessmen in your country. The increasing volume of bilateral trade, despite the ongoing global financial and economic crisis, shows the great interest in Uzbekistan and Brazil to cooperate with each other. Our goal is to expand and strengthen trade and economic ties between our countries, greater use of existing capacity".

The business forum was also fully discussed involvement of Brazilian companies in the privatization process in Uzbekistan.

At the end of the business forum it was held a Cooperation Exchange with a number of companies and enterprises of Uzbekistan and representatives of business circles of Brazil. The event's participants familiarized themselves with the possibilities of the parties, exchanged views on the development of mutual relations, joint development and implementation of bilateral mutually beneficial projects.

The event was organized by the Ministry of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan and the Ministry of Development, Industry and Foreign Trade of Brazil.

Source: UZA