Minister Petya Avramova: Our partnership with Uzbekistan is at a good level, but it needs to be expanded

Our partnership with Uzbekistan is at a good level, but it needs to be dynamised, expanded and deepened in all areas. This was commented by the Minister of Regional Development and Public Works Petya Avramova during the fifth session of the Bulgarian-Uzbek Intergovernmental Commission for Economic and Scientific-Technical Cooperation.

Minister Avramova reported that trade between Bulgaria and Uzbekistan has been increasing in recent years, and in 2018 it increased by 1.3% compared to 2017 and reached nearly USD 20 million. For the first five months of 2019, mutual trade increased by 7.3% compared to the same period in 2018 and reached USD 8.4 million USD. There are real prerequisites for good cooperation in the machine building and chemical industries, energy, agriculture, food industry, textile production, construction, transport and information technology, tourism. Growth in trade in pharmaceuticals, agricultural machinery and equipment, machinery and technology for the food industry, IT equipment and software is also expected.

Petya Avramova reminded that Bulgarian companies successfully participate in the economy of Uzbekistan through the establishment of joint ventures in the field of oil refining and chemical industry, textile industry,cosmetics and perfumery.

We would welcome a wider interest of Uzbekistan in our economy, said Minister Avramova and stressed that due to its financial stability, low production costs and favourable business environment, our country is an excellent place for investment in Southeast Europe. The prospects for cooperation and development of textile production, animal husbandry, organic farming, greenhouse production and tourism are great.

Petya Avramova stressed that for her, as Minister of Regional Development and Public Works, it is important to strengthen contacts in the direction of expanding the exchange of information, specialists and experience in the field of construction, energy efficiency and renovation of residential buildings. Bulgarian companies also have significant capacity and could participate in the construction of industrial and infrastructure facilities in Uzbekistan.

Uzbekistan has always seen Bulgaria as a promising partner, said Deputy Prime Minister Elyor Ganiyev. He confirmed that there is an opportunity to expand the level of cooperation and drew attention to the unrealised potential in trade. He stressed that he is interested in importing high quality products from Bulgaria in the field of pharmaceuticals, chemical industry, technology, agriculture and others.

Minister Avramova and Deputy Prime Minister Ganiyev expressed confidence that the meeting of the Intergovernmental Commission will be a step towards the rapprochement of bilateral relations and the promotion of development in accordance with the economic potential. The Deputy Prime Minister invited the Bulgarian side to a next session in Tashkent in 2020.

Minister Petya Avramova and Deputy Prime Minister Elyor Ganiyev, as co-chairs, signed a Protocol from the Fifth Intergovernmental Bulgarian-Uzbek Commission for Economic and Scientific-Technical Cooperation.

In parallel with the work of the commission, a Bulgarian-Uzbek business forum was held. It was opened by Minister Avramova and Deputy Prime Minister Ganiyev. Representatives of the business community, industry and business organisations and administrative structures on both sides also discussed opportunities to expand bilateral co-operation in various sectors of the economy. As a result, agreements were signed for the implementation of projects in the field of pharmaceuticals, food and leather industry and the energy sector. The Chairman of the Bulgarian Chamber of Commerce and Industry, Tsvetan Simeonov, and the Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan, Jahongir Mamadjanov, signed an Agreement on the establishment of a business forum between the two organisations.