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The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.

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2014 US-Uzbekistan Annual Business Forum: An Impetus for Increased US Technologies, Exports and Investments in Uzbekistan

www.aucconline.com
17 November 2014

On November 11, the American-Uzbekistan Chamber of Commerce (AUCC) and its' member-companies participated in the 2014 US-Uzbekistan Annual Business Forum in Tashkent, Uzbekistan.  Hosted by the Uzbek Ministry of Foreign Economic Relations, Investments and Trade (MFERIT) that oversees trade and economic activities by the US businesses, the forum was a call for increased bilateral trade agenda and expanded participation of US companies in sectors such as oil and gas, electrical engineering, pharmaceuticals, tourism, food processing, etc.  Opening the forum, MFERIT's Minister Elyor Ganiev urged American companies to consider Uzbekistan's eagerness to introduce the latest and the most advanced US technologies to domestic industries and create value-added processes that can help capture external markets.  As a key speaker representing the US Government, US Ambassador George A. Krol highlighted several areas of the US technical assistance and involvement in Uzbekistan that have promoted deeper cooperation at the social, trade, healthcare and science and technology levels.  Chairperson Carolyn Lamm acknowledged the chamber's members ambitious plans for Uzbekistan and expressed hope that the forum will help address an underutilized business potential and initiate more "win-win" projects that are in the interest of the American and Uzbek people.  "We hope for our governments' support in helping us multiply our achievements and generate more projects and contracts that will make our nations achieve greater prosperity, stability and higher rates of development", concluded the AUCC Chairperson who led a delegation of the most senior business executives representing AUCC member-companies, such as: The Boeing Company, CNH Industrial, The Coca-Cola Company, FMN International, GE, GM, Honeywell, Lockheed Martin, Cameco Corporation and Nukem, Inc., Rio Tinto, White & Case LLP and Zeppelin International AG. 

In recognition of the chamber's efforts to increase bilateral trade, Chairperson Lamm and its' members were received by President of the Republic of Uzbekistan Honorable Islam A. Karimov.  The Head of State noted the AUCC success in representing the world's leading US companies in the Republic of Uzbekistan and welcomed all of the company representatives to Uzbekistan. The President emphasized his encouragement of US investment in Uzbekistan particularly for those projects that could provide Uzbekistan with cutting edge technology and provide jobs, management and technical training for the Uzbek people. The AUCC presented the President with an award for his Global Business Leadership. The president noted his vision to encourage the bilateral trade and investment relationship and highlighted that now every student from first grade on is learning English as a second language to be ready for expanded global business.  The Uzbek leader also noted that today's Uzbekistan has resources and capacity and financial independence to implement large-scale infrastructure projects and welcomes US technological advancements to help the country's educated workforce take the global lead.  At the request of President Islam A. Karimov, AUCC members also had the honor of meeting with 1stDeputy Prime Minster and Minister of Finance of the Republic of Uzbekistan Rustam Azimov who emphasized the country's high GDP growth, reformed educational program and triple surpluses in trade balance, payment balance and state budget which are then transferred to the Uzbek Fund for Reconstruction and Development with total assets of $25b.  American companies were encouraged to become more assertive about their business plans for Uzbekistan as the country has enjoyed years of political stability and macroeconomic prosperity and its' highly skilled workforce are an attraction to international businesses.

The majority of AUCC members have been active in the Uzbek market since the early days of independence and their successes and achievements have served as an impetus for newer businesses and investors to enter the market.  For more than twenty years, the chamber's companies have been the strongest supporters of the expanded bilateral trade relations that create social and economic benefits for the people of the US and the Republic of Uzbekistan and enable them to achieve greater economic stability and financial prosperity. "As Uzbekistan continues to show its strong economic numbers amidst political and financial uncertainties worldwide, this is an excellent time to discuss new avenues for cooperation, attract new members, and expand our outreach", noted AUCC President Tim McGraw during the forum.  In the last few years, the annual trade turnover between the US and Uzbekistan has continued to increase and in 2013 it reached $387 m which demonstrates an immense potential for growth.

The 2015 US-Uzbekistan Annual Business Forum will be held in Washington, DC.  US companies interested in the forum are encouraged to contact AUCC for more information.