Greeting the guests, the head of Uzbekistan expressed appreciation of the steadily enhancing business ties among leading companies of the two countries, and characterized the successful business forum organized by the American-Uzbek Chamber of Commerce as a positive indication. The forum was attended by some eighty business people from among the leaders of twenty-five prominent US corporations, transnational by and large.

The meeting at the Oqsaroy has served as a good opportunity to discuss the current state and priority aspects of economic and investment cooperation aimed at further consolidation of mutually advantageous business relations between eminent US companies and their Uzbek partners, and at the establishment of joint enterprises to produce goods with higher added value in demand in domestic and foreign markets.

As a bright example of the fruitful interaction was cited the long-standing cooperation with American giants like General Motors, Boeing, Lockheed Martin and many others. 241 enterprises instituted with participation of US investors are registered in Uzbekistan. The volume of direct investments has exceeded two billion dollars.

Carolyn Lamm and other representatives of American business expressed gratitude to the leader of Uzbekistan for attention and the business-friendly environment created in our nation for US firms. The guests highlighted the extensive prospects for ever expanding presence of investments, technologies and the goods of US hi-tech companies in the Uzbek market.

As an evidence of US business circles attaching keen significance to Uzbekistan, the Chair of the American-Uzbek Chamber of Commerce cited the enthusiastic participation by such foremost corporations as General Motors, Boeing, General Electric, Lockheed Martin, Merсk, Rio Tinto, White and Case, Anadarko, Case New Holland, Nukem, Solar Turbines, Caterpillar, Zeppelin in the business forum.

It was noted that such an interest is rooted in the macroeconomic and political stability, the mounting opportunities for the implementation of wide-ranging investment schemes in Uzbekistan with the involvement of cutting-edge American technologies, as well as the strategic importance of the country as the biggest market in Central Asia.

In addition, the successful joint projects are made possible thanks to Uzbekistan’s richest mineral resource potential, the advanced industrial and transport infrastructure, the highly qualified specialist pool, along with the reliable system of privileges, preferences and guarantees of protection of foreign investors’ rights.

In this regard, the US delegation conveyed a high appreciation of the decrees signed by the President of Uzbekistan on July 16 and 18, and designed to cardinally refine the business environment, grant more freedom to entrepreneurship, and cut the list of requirements assigned to business in terms of reporting, licensing and clearance.

It was stressed with delight that during the last business forum, Uzbek and American companies reached deals to run twenty-one projects totaling some 2.8 billion dollars in a broad range of industries like mechanical engineering, metal processing, energy, oil and gas extraction, oil and gas chemistry, electro-technical and mining, pharmaceuticals, consumer goods production.

In conclusion, President Islam Karimov wished the American-Uzbek Chamber of Commerce and the representatives of US business a prolific and mutually beneficial cooperation with their Uzbek partners.