A business forum of Uzbek and Japanese business circles was held at the international business centre [in Tashkent] on 14 November.

The forum, which was organized by the Uzbek Ministry of Foreign Economic Relations, Investments and Trade, the centre for political researches and the Japanese Ministry of Economy, Trade and Industry, focused on further developing trade and economic, and investment cooperation. The event was attended by the heads of the ministries and agencies, companies and concerns, which are in charge of foreign trade relations, finance, oil and gas, and energy sectors, construction, machine-building, chemical and light industry, information technologies, transport and transport communications, agriculture and water resources, and tourism.

During the forum, Rustam Azimov, the Uzbek finance minister and a deputy prime minister, especially noted that the agreements reached during the meetings of the two countries’ leaders had become an important legal foundation for developing relations in all spheres, in particular, in the trade and economic, and humanitarian spheres. At present, bilateral relations are developing in accordance with a joint statement on friendship, strategic partnership and cooperation [between Uzbekistan and Japan] signed during Uzbek President Islom Karimov’s official visit to Japan in July 2002. It was stressed that the current business forum would become an important factor in further expanding and strengthening cooperation in the social and political, trade and economic, and humanitarian spheres, as well as tourism.

During the forum, the Japanese businessmen learned about the priority areas of investing in the country’s economy, as well as about the processes of privatization, consistently reforming the economy, developing small business and private entrepreneurship being carried out [in Uzbekistan].

Nine Uzbek-Japanese joint ventures operate in Uzbekistan; over 10 large joint projects are being implemented.

"Uzbekistan is a country with big economic potential," Toshihisa Takata, deputy director-general of the Trade Policy Bureau at the Japanese Ministry of Economy, Trade and Industry, has said. "Japan considers Uzbekistan as a close and reliable partner. Cooperation between our countries has a great future. We are the supporters of further carrying out mutually beneficial projects not only in the trade and economic, and investment spheres, but in other areas as well. We are sure that in cooperation with Uzbekistan we will achieve great successes and significant results in all sectors of the economy."