American-Uzbekistan Chamber of Commerce
Business Newsletter

 

Week in Review:


November 25, 2011 - December 2, 2011 

 

In this issue
AUCC in Brief
Over 938.8m tonnes of cargo transported from January through September
Uzbekistan to draw a WB loan of $100m in 2012
Uzbekistan to attract $1.145bn from ADB to upgrade transport sector
CAREC 2020 to be supported by development partners
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AUCC Members
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AUCC in Brief 

Established in 1993, the American-Uzbekistan Chamber of Commerce (AUCC) is a private, non-profit trade association representing interests of U.S. businesses ranging in size from small private enterprises to large, multinational corporations conducting business in Uzbekistan.

Our Mission: To advocate the views of the business community to ensure that private sector positions are considered during the development of key policies that impact American businesses and the future of U.S.-Uzbekistan relations.

Our Objective: To serve the needs of its members by strengthening commercial relations between the United States and Uzbekistan. 

Over 938.8m tonnes of cargo transported from January through September

http://www.uzdaily.com of 12/2/2011    

 

Over 938.8 million tonnes of cargo were carried by all types of transport in Uzbekistan in nine months of 2011, which grew by 9.2% year-on-year.

The State Statistics Committee of Uzbekistan said that the freight turnover was 59.4 billion tonnes-km -and rose by 7.1% year-on-year.

Some 850.5 million tonnes of freights were carried by motor transport, which rose by 9.3% year-on-year. The freight turnover has increased by 6% to 18.4 billion tonnes-km.

The freight turnover of motor transport of individual entrepreneurs has exceeded the level of January-September 2010 by 7.1% and reached 13.4 billion t-km. Share of private carriers in total freight turnover of motor transport was 72.5% against 71.7% in January-September 2010.

About 24,400 tonnes of freights were carried by air transport, which is 12.3% more compared to January-September 2010. The freight turnover has decreased by 3.4% and was 124.3 million tonnes-km.

The freight turnover of main pipelines has increased by 11.8% and made up 24.1 billion tonnes-km. 

Uzbekistan to draw a WB loan of $100m in 2012 

http://www.trend.az of 12/1/2011    

 

Uzbekistan will draw a WB loan of $100 million in 2012 to implement an automated electric power metering system project, the WB representative office in Tashkent told Trend today.

According to the information, the government and the bank completed negotiating. The documents are under preparation to submit the project to the WB Board of Directors.

Uzbekistan to attract $1.145bn from ADB to upgrade transport sector 

http://www.timesca.net of 11/27/2011    

 

During 2011-2013 the Uzbek government will attract loans worth $1.145 billion from the Asian Development Bank (ADB) to develop transport projects, according to Uzbekistan's Economy Ministry. 

"Currently, Uzbekistan in cooperation with the ADB is finalizing the development of priority projects under the new program of financial cooperation for 2011-2013. US $1.145 billion will be attracted as part of the program and will go for modernization of the transport infrastructure," according to the Economy Ministry. 

In particular, within three years the Uzbek side will attract ADB loans for a total of $845 million for the construction of the Uzbek national highway worth $2.6 billion.

ADB funds will be directed for the reconstruction of several transit sections of A-380 and A-373 roads. In particular, the loans will be used for the purchase of modern road-building complexes, as well as for the construction work and project management.

During 2011-2013, the Uzbek government will also attract ADB funds worth $300 million for the electrification of the railway in southern Uzbekistan.
Specifically, late in 2011 the Uzbek side will receive a $100 million loan for the electrification of a 140-kilometer long Marokand-Karshi railway section. The project will be completed within four years. A $146 million project will be financed through the ADB loan and Uzbekiston Temir Yullari's own funds.
A loan worth $200 million for the electrification of a 250-kilometer long Marokand-Navoi-Bukhara railway section in the central part of the country will be given in 2013. The project worth $250 million will be implemented during 2012-2016. 

It is planned that ADB's funds will be allocated from ordinary resources of the bank for 25 years, including a five-year grace period at the bank's standard incentive rate, based on the LIBOR rate.   
Uzbekistan is a member of ADB since 1995, and is today the largest loan recipient of this financial institution in Central Asia. Since 1995, ADB has provided $1.95 billion to Uzbekistan to implement 35 projects in education, agriculture, transport infrastructure and energy sector modernization, and $43.2 million in technical assistance grants.

CAREC 2020 to be supported by development partners 

http://www.uzdaily.com of 11/25/2011    

 

Ministers and senior representatives of development agencies met in Baku to discuss support for the new 10-year strategy for the Central Asia Regional Economic Cooperation (CAREC) Program.

Established in 2001, CAREC brings together Afghanistan, Azerbaijan, the People's Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan. It promotes regional projects in energy, transport, and trade facilitation.

Six multilateral institutions (MIs) support the work of CAREC: the Asian Development Bank (ADB), European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme, and World Bank.

"ADB has allocated $4.7 billion over the next three years to support CAREC 2020's goals of trade expansion and improved competitiveness," said ADB President Haruhiko Kuroda. "We stand ready to assist in accelerating the development of physical infrastructure connectivity, the development of economic corridors, and the improvement of the knowledge base needed to support CAREC's priorities."

President Kuroda made the announcement at the Development Partners' Forum on the third day of the 10th CAREC Ministerial Conference. The forum was chaired by ADB Vice President Xiaoyu Zhao.

MIs at the forum echoed their support for the work of CAREC and some also offered substantial financial assistance over the next decade. Senior representatives of bilateral agencies from France, Germany, Japan, the United Kingdom, and the United States also attended the forum and supported CAREC 2020.

To date, member governments, the ADB, and other MIs have approved over 100 CAREC-related projects worth about $17 billion. These projects include six land transport corridors that cover 3,600 kilometers of roads and 2,000 kilometers of railway. They traverse the CAREC region north-south and east-west, linking Europe, East Asia, South Asia, the Middle East, and beyond.

The three-day conference wrapped up with a ministerial retreat where participants discussed how CAREC countries could individually and collectively contribute to a prosperous Asia by mid-century. 

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Contact Information

 

The American-Uzbekistan Chamber of Commerce
1300 I Street, N.W., Suite 720W
Washington, DC 20005
phone: 202.509.3744
[email protected]
www.aucconline.com  

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