The UK committed £1.25 billion worth of financing for energy projects in Uzbekistan, in a Memorandum signed between the Uzbekistan Fund for Reconstruction and Development (UFRD) and the UK Export Finance (UKEF) in the framework of the first Uzbek–UK Energy Forum, Understanding the Opportunities in a Rising Uzbekistan Economy held in London Wednesday.
The high-level executive forum to discuss the commercial, trading and partnership opportunities that Uzbekistan offers, with a special focus on the energy sector included presentations, panel discussions and networking events on project/trade financing and investment opportunities, energy efficiency and renewable energy, signing ceremony and etc.
The forum, organized by the Uzbekistan Committee for Investments, UzbekNeftegaz with the support of the Uzbek Embassy in Britain, was attended by the UK Minister for Trade and Export Promotion, Baroness Rona Fairhead, Chairman of Uzbekistan Reconstruction and Development Fund, Shukhrat Vafoev, as well as other officials of government entities, international financial institutions, banks, legal and consultancy firms in Uzbekistan and the UK and others.
It should be noted that the parties agreed to hold the forum on a regular basis, not only in London, but also in Uzbekistan, with the UK and European companies to be invited.
Uzbekistan-UK trade and economic relations are developing dynamically, and boosting bilateral business ties is a priority for both countries. The UK is considered to be one of the leading trading and investment partners of Uzbekistan. UK companies are identified as having strong expertise in energy, education, finance, legal and other relevant sectors, and will find excellent partners to implement current and planned projects in Uzbekistan. This event is aimed at providing British companies with the opportunity to enter the Uzbek market at an early stage and support them to take advantage of the opportunities that are opening up in the country.