Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan plans to establish Eximbank, the National Export Promotion Agency and the Export Credit Insurance Agency.

Minister of Foreign Trade Jamshid Khodjaev, during a meeting with the World Bank mission headed by Stefka Slavova, senior specialist in finance, competition and innovative development of the World Bank, said that the ministry is developing a concept for the creation of the Eximbank, the National Export Promotion Agency and the Export Credit Insurance Agency in Uzbekistan.

According to him, these organizations will stimulate foreign trade activities in Uzbekistan.

During the meeting, the Minister of Foreign Trade spoke about the work carried out by the Ministry to improve the current system of supporting exports and expanding the country’s export potential on the basis of international experience of such countries as China, Japan, South Korea, the United States and other major players in world markets.

In turn, members of the delegation of the World Bank noted the important role assigned to export-import financing in the process of promoting exports and increasing trade.

"Practice shows that no other state has been able to achieve significant results in promoting its exports without using tools to promote domestic products in foreign markets, including through lending and insurance of export operations," World Bank expert Thomas Vis said.

Representatives of the bank expressed their readiness to provide technical assistance in the development of the concept, structure and strategy of the Eximbank of Uzbekistan.