PRESS RELEASE : Exports Minister boosts British businesses in Uzbekistan [August 2023]
The press release issued by the Department for Business and Trade on 21 August 2023.
Exports Minister Lord Offord is in Uzbekistan to expand on UK-Uzbek relations and find untapped business opportunities.
- Exports Minister Lord Offord is in Uzbekistan to promote UK exports to Central Asia – one of the fastest growing regions in the world
- Visit aims to grow the existing £267 million total trade between the UK and Uzbekistan
- Government continues to support UK companies like Arup and ERG looking to enter the Central Asian market
Exports Minister Lord Offord is in Uzbekistan to expand on UK-Uzbek relations and find untapped business opportunities. With the wider Central Asian region expected to grow by 5.4 per cent in 2024, Uzbekistan offers clear and tangible opportunities for UK businesses.
During a three-day mission to Uzbekistan, the Minister will meet government counterparts and business leaders and focus on infrastructure and mining opportunities for UK exports to boost our trade relationship.
Lord Offord will also visit Almalyk Mine and gold processing facility to identify areas for UK cooperation and export. Mining in Uzbekistan offers huge opportunities to the UK market with the world’s fourth-largest gold reserves and its position amongst the top 15 countries with the largest copper reserves. The UK’s world-leading expertise in clean energy can help to influence the transition to a cleaner, greener mining future.
In addition to promoting UK exports, a key objective of the mission is to protect free trade and the UK is proud to support Uzbekistan’s accession to the World Trade Organisation.
Exports Minister Lord Offord said:
Uzbekistan is a growing market full of untapped business opportunities. The UK’s total trade with Uzbekistan sits at just £267m, so this visit is our chance to uncover where UK exports can tap into the Uzbek market – driving growth and creating jobs both at home and abroad.
Lord Offord will highlight how UK Export Finance – the UK’s export credit agency – can help mobilise finance and promote the strengths of UK businesses in priority economic and social sectors, supporting critical projects in clean energy, transport, healthcare, education, and manufacturing.
The Minister is set to meet with Uzbek Deputy Prime Minister and Minister for Finance and Economy, Jamshid Kuchkarov Laziz Kudratov, Uzbek Minister of Investment Industry and Trade, Laziz Kudratov, and Uzbek Foreign Minister, Bakhtiyor Saidov.
Lord Offord will also hold meetings with Azizbek Urunov, Special Representative of the President for the WTO, Chief Negotiator and Abdulla Khursanov, Chairman of Almalyk MMC.
Notes to editors
- On 13-16 November 2023, the 27th Uzbek-British Trade and Industry Council (UBTIC) will take place across London and will bring policymakers and business leaders from Uzbekistan and the United Kingdom to network and discuss bilateral trade.
- In 2024 Central Asian economies are set to grow by 5.4 per cent on average according to EBRD forecast.
- UK Export Finance is the UK’s export credit agency and a government department, working alongside the Department for Business & Trade as an integral part of its strategy and operations.
