Deals worth $2.6 billion signed at Uzbekistan–US business forum

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TASHKENT (TCA) — On September 20, an Uzbekistan–US business forum was held in New York City as part of Uzbekistan President Shavkat Mirziyoyev’s visit to the United States to participate in the 72nd session of the UN General Assembly, the Jahon information agency reports.

The event was attended by more than 100 executives of the leading US companies such as General Electric, Honeywell, ExxonMobil, CNH Industrial, John Deere, Coca-Cola, Boeing, Caterpillar, Citi Group, Visa, AGCO, and Gilead Sciences. It was organized by the State Committee of Uzbekistan on Investments jointly with the American–Uzbekistan Chamber of Commerce (AUCC).

It was emphasized that the business forum, unprecedented in its scope and nature, once again confirmed the aspiration of businessmen of the two countries to expand mutually beneficial practical cooperation. The importance of joint efforts of the two sides for bringing Uzbekistan–US economic partnership to a qualitatively new level, ensuring its sustainable development and growth was noted.

During the panel discussions of the forum, a lively discussion was held on issues of strengthening bilateral economic cooperation, creating a favorable investment climate in Uzbekistan, as well as implementing joint projects and programs in the fields of industry, infrastructure, tourism, science, and education.

US businessmen praised the ongoing large-scale reforms in Uzbekistan, ensuring the introduction of market mechanisms for currency regulation, strengthening the banking and financial system, reducing the tax burden on business and introducing additional benefits and preferences for investors within the framework of newly created free economic zones in Uzbekistan.

As a result of the forum, documents for a total amount of $2.6 billion were signed with US companies. They provide for the implementation of joint projects in the oil and gas and petrochemical sectors with General Electric and Honeywell corporations, in the machine building industry with CNH Industrial, John Deere and Caterpillar, in the electrical engineering industry with OSI Systems and Lutron, and in civil aviation with Boeing.

An agreement was also signed on opening a branch of Webster University in the city of Tashkent, which will become the first full-fledged branch of the American higher education institution in the CIS countries.

Sergey Kwan

TCA