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Economy 03/11/2023 Uzbekistan is a reliable platform for French business in the new realities of the world economy
Uzbekistan is a reliable platform for French business in the new realities of the world economy

Tashkent, Uzbekistan (UzDaily.com) -- France, as one of the main drivers of European integration, is demonstrating leadership in bringing Uzbekistan’s partnership with the EU to a qualitatively new level.

Evidence of this is the first state visit of President Emmanuel Macron to Uzbekistan, which became a significant event and, in fact, launches a new stage in the further deepening of multifaceted, mutually beneficial Uzbek-French cooperation.

The tone of the negotiations between Emmanuel Macron and the President of the Republic of Uzbekistan Shavkat Mirziyoyev emphasizes their meaningful and constructive nature.

This confirms the French leader’s statement about France’s full trust and support for the reform policy pursued by the Leadership of Uzbekistan. According to Emmanuel Macron, Paris is serious about strengthening relations with Tashkent and is interested in investing in the fast-growing Uzbek economy.

He also highly appreciated the regional course of Shavkat Mirziyoyev, which became a new stage in the history of interstate relations of the Central Asian countries. As the French leader noted, “in recent years, Uzbekistan has been pursuing a policy of openness in Central Asia, as a result of which peace and stability are achieved and sustainable economic development is ensured in the region.” In this regard, Paris is ready to provide broad support in the further implementation of various regional projects.

High recognition from such a world power as France once again emphasizes the effectiveness of Shavkat Mirziyoyev’s course.

For his part, the President of Uzbekistan assured that economic reforms will not be reversed. “There is no way back - only forward. We will continue the policy of an open economy with all opportunities and conditions. We promised this to our people, our entrepreneurs, and we will definitely comply with this course,” said the head of our country.

In this context, the leaders agreed to increase the volume of trade turnover, intensify investment projects, introduce an adaptive mechanism for financing joint projects, and support the initiatives put forward by entrepreneurs.

As a result of the dialogue, 8 agreements were signed in the financial, energy, educational, cultural spheres and other priority areas of interstate cooperation.

If in 2021 the parties signed only an economic roadmap, which made it possible to implement many projects and outlined ways to expand bilateral cooperation, then as a result of the negotiations, the heads of the two states agreed on a new level of interaction - a strategic partnership between the two countries.

The regular business forum, which took place with the participation of heads of large companies and banks in France, became a platform for intensive and constructive dialogue between businessmen of the two countries and the identification of new points of growth. The promotion of business partnership will be facilitated by the agreements reached by the leaders on the creation of the Uzbek-French Chamber of Commerce and the opening of an office of the Business France agency in Tashkent.

The mining industry, processing of strategic raw materials, “green economy”, modernization of water supply systems, introduction of smart agriculture, development of urban and transport infrastructure, tourism, etc. were identified as priority sectors of cooperation.

This will complement the already existing close and dynamic partnership between Uzbekistan and France.

In recent years, a favorable business climate, democratic reforms in Uzbekistan, and Tashkent’s peace-loving policy in Central Asia have contributed to the deepening of bilateral Uzbek-French ties. In particular, thanks to joint efforts, today trade relations between the two countries are at the peak of development.

Thus, since 2017, trade turnover between Uzbekistan and France has increased by 33.1% - from US$257.2 million to US$342.4 million at the end of 2022. The total volume of trade between the two countries during this period amounted to US$1.77 billion.

At the same time, the trend of accelerating growth in trade volumes continues. Only in the first nine months of this year. this figure reached a record level of US$658.7 million. Today, France is one of the five largest trading partners of Uzbekistan in the European Union.

Uzbekistan is discovering the vast French market. For the period January-September of this year, exports of Uzbek goods showed record results - US$307.6 million.

It is gratifying to note that the interest of French business in our country is mutual and is growing steadily. In recent years, the number of joint ventures and projects involving French companies has quadrupled. Their number today is 47, 23 of which are with 100% French capital. Flagship companies are present in key sectors of utilities (Veolia, Suez, Eiffage), energy, including green (EDF, Total Eren, Voltalia, Orano), as well as in the food industry (Lactalis).

France, recognizing the high dynamics of reforms and development prospects of Uzbekistan, is increasing financial and technical assistance. In particular, a Program is being implemented with the French Development Agency for 2023-2025, providing for the implementation of projects worth US$1.17 billion.

In conclusion, it should be noted that the recent visit of the French leader to Uzbekistan and the solid package of documents signed in Samarkand confirmed the thesis that Tashkent and Paris have a mutual desire to increase cooperation. It is obvious that both sides have clear outlines and priorities for interaction.

And we can say with confidence that in the future, closer and targeted cooperation in the most important areas will take on an increasing character not only on a bilateral basis, but also at the level of the states of Central Asia and the European Union.

Shakhnoza Kadyrova,

Chief Researcher at the Institute for Strategic and Interregional Studies at

President of the Republic of Uzbekistan

 

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