Uzbek Minister of Investment Stresses Uzbekistan's Keenness to Enhance Trade Cooperation with Qatar

Doha, November 10 (QNA) - HE Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov praised the distinguished relations between his country and the State of Qatar and their keenness to strengthen these ties across various fields.
In his speech during his meeting with representatives of the Qatari Businessmen Association (QBA) on Sunday, in the presence of HE QBA Chairman Sheikh Faisal bin Qassim Al-Thani, he called for intensifying Qatari-Uzbek business forums to present investment opportunities, discuss facilitating the exchange of investments, and discuss other matters that contribute to increasing trade cooperation between the two countries.
HE the Minister of Investment, Industry and Trade of the Republic of Uzbekistan reviewed the investment climate in Uzbekistan and the positive developments that the Uzbek economy has witnessed in recent years, pointing out that many major companies from various countries of the world have begun to come to Uzbekistan and invest in various sectors, with direct investments reaching about USD 22.4 billion in 2023.
The Minister also reviewed his country's vision for the year 2030, which aims to attract about USD 250 billion in foreign direct investments, as the economy is witnessing significant growth rates of 7 percent, stressing the need to exploit the proportion of youth and the workforce trained in various fields.
He also stressed the attractive incentives that Tashkent offers to foreign investors, including tax exemption in free zones, in addition to a free market of 300 million people in neighboring countries, urging Qatari companies to invest in his country and export products to the Gulf market with complete freedom, in addition to nearby neighboring markets since Uzbekistan is located in the heart of Central Asia.
In turn, HE QBA Chairman Sheikh Faisal bin Qassim Al-Thani stressed that the high-level visits represented an important step towards establishing a new phase of joint economic and trade cooperation between the two countries. He pointed to the increase in the pace of joint coordination between Doha and Tashkent to encourage the private sector between the two sides to launch investment projects, which contributes to increasing the volume of trade exchange and supports bilateral relations in common areas.
His Excellency said that QBA encourages Qatari businesspersons to explore the investment climate in Uzbekistan and invest in potential opportunities, especially in the sectors of agriculture, mining, energy, and others. He also stressed the importance of strengthening cooperation between Qatari and Uzbek companies and establishing trade and investment alliances that contribute to enhancing trade exchange between the two countries, which is still modest and below the level of ambitions. (QNA)