ADB President Reaffirms Support to Central Asia Regional Economic Cooperation; Uzbekistan and Italy discuss development of trade-economic ties; Minister for Foreign Trade hold talks with ITFC Chief Executive Officer; EBRD mission pays visit to Central Bank;
ADB President Reaffirms Support to Central Asia Regional Economic Cooperation
Finance ministers and senior government officials from 11 countries in Central and West Asia gathered in Ashgabat today for the 17th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference. The high-level strategy and policy body serves as a platform to discuss and debate important issues of regional relevance.
The Deputy Chairman of the Cabinet of Ministers of Turkmenistan Mr. Gochmyrat Myradov chaired the conference and committed Turkmenistan’s support to strengthening economic cooperation in the region. Asian Development Bank (ADB) President Mr. Takehiko Nakao delivered the special address. The meeting was co-chaired by ADB Vice-President Mr. Wencai Zhang.
In his remarks, Mr. Nakao reaffirmed ADB’s support for CAREC and announced $2 billion in new assistance for regional projects in CAREC countries in 2018. The funding is the start of $5 billion in financial support over 2018–2022 that ADB committed last year to support the CAREC 2030 strategy. The new assistance “will be dedicated to regional cooperation projects to improve connectivity, promote electricity exports, and strengthen trade facilitation,” said Mr. Nakao.
Uzbekistan and Italy discuss development of trade-economic ties
Deputy Minister of Foreign Trade of the Republic of Uzbekistan Sahib Saifnazarov met with Deputy Minister of Foreign Affairs and International Cooperation of the Italian Republic Di Stefano Manlio on 14 November 2018. This was reported by the press service of the Ministry of Foreign Trade.
The Uzbek side proposed to jointly develop the institute of the Uzbek-Italian intergovernmental working group, as well as holding business forums and exhibitions to establish and strengthen relations between representatives of the business circles of the two countries.
“Now it is a very important moment for Uzbekistan; the country has embarked on the path of very important political and administrative innovations and changes. In this regard, there is an increase in demand in know-how, – said Di Stefano Manlio. “Italy can offer many opportunities for cooperation in a number of areas, including the textile industry, fruit and vegetable processing, tourism, information technology and communications, telemedicine and other areas.”
Minister for Foreign Trade hold talks with ITFC Chief Executive Officer
The Minister for Foreign Trade of the Republic of Uzbekistan Jamshid Khojayev received the Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) Hani Salem Sonbol.
Hani Salem Sonbol spoke about the activities of the International Islamic Trade and Finance Corporation as an autonomous organization within the Islamic Development Bank group. It was stressed that the main task of ITFC is to stimulate trade between the member countries of the Organization of Islamic Cooperation, to assist companies in gaining access to trade finance, as well as provide the necessary tools to increase trading potential in the global market.
It was also noted that according to the new strategy, the corporation will pay more attention to the development of the private sector, especially small and medium-sized businesses, and cooperation with local banks. In this regard, ITFC is interested in expanding cooperation with financial organizations of the Republic of Uzbekistan.
EBRD mission pays visit to Central Bank
A mission of the European Bank for Development and Reconstruction (EBRD) headed by Mrs. Karin Geno de Lamarlier paid a visit to the Central Bank of Uzbekistan on 16 November 2018, the regulator said in a statement.
During the meeting, the sides discussed issues on assessment of the potential readiness of the market for the new program “Women in Business”, which the EBRD is considering to launch in Uzbekistan.
The parties paid special attention to prospects for development of financing small and medium-sized businesses, especially women entrepreneurs, to the regulation of the credit sector, as well as to financial affordability.