American-Uzbekistan Chamber of Commerce
Business Newsletter

 

Week in Review:


May 4, 2012 - May 11, 2012  

 

In this issue
AUCC in Brief
Statement at the Conclusion of an IMF Technical Assistance Mission to the Republic of Uzbekistan
SCO Speeding up Establishment of Special Account
Uzbekistan to Get Y202 million in Aid
German Engineering Dobersek signs contract with Uzbek Navoi MMP to Expand Phosphate Complex
Contact Us
aucc logo
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. 

Statement at the Conclusion of an IMF Technical Assistance Mission to the Republic of Uzbekistan

http://www.imf.org of 5/10/2012

   

Press Release No. 12/170
May 10, 2012

At the invitation of the Central Bank of Uzbekistan, a mission of the International Monetary Fund (IMF) visited the Republic of Uzbekistan from April 26-May 3, 2012 to assess technical assistance requirements necessary to support the government's Program for Further Reforms and Sustainability Improvement of the Banking System of Uzbekistan for 2011-2015 and Achievement of High International Ratings.

At the conclusion of the mission, Joseph Crowley, the IMF mission chief, made the following statement:

"The banking sector in Uzbekistan performed well during the recent global financial crisis, and the authorities have been undertaking efforts to further improve banking supervision and reinforce the reliability of the banking system.

"Discussions with the authorities focused on the legislative framework for banking regulation and supervision and its application. The mission noted that the reviewed regulatory documents are largely compliant with international principles and Basel I standards, and will be following their implementation by the off-site and on-site banking supervision staff during the coming year.

"In accordance with a request of the Central Bank, the mission assessed technical assistance needs, including for the transition of the banking supervision regulatory framework to Basel II and Basel III standards as applicable. In addition, the mission will provide recommendations for future assistance in the development and application of a stress-testing methodology and a model for triggering supervisory interventions for banks of Uzbekistan.

"The mission would like to thank the Central Bank for their hospitality and the fruitful meetings during the visit."

SCO Speeding up Establishment of Special Account

http://english.cri.cn/index.htm of 5/5/2012      

  

The Shanghai Cooperation Organization (SCO) will speed up the establishment of a special account and development bank in order to enhance its members' ability to cope with new threats and challenges.

Foreign Minister Yang Jiechi made the announcement at a press briefing on Friday after meeting with his counterparts from the other five SCO member countries -- Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.

Yang said the foreign ministers agreed to improve the organization's ability to warn of potential crises and manage emergencies in order to maintain the sovereignty and security interests of SCO member countries.

The member countries should also make greater efforts to deal with the impact of issues related to finance, energy and food safety, according to Yang.

The foreign ministers will submit a draft regulation on political and diplomatic measures and mechanisms designed to deal with issues threatening regional peace, security and stability to a SCO summit to be held in June in Beijing for approval, according to a press release issued after their meeting.

The foreign ministers reaffirmed their cooperation in fighting terrorism, separatism, extremism, drug smuggling and transnational organized crime, stressing the need for member states to maintain international information security within the SCO framework and in other international organizations and forums, the press release said.

Yang said the foreign ministers agreed that the SCO should continue to deepen relations with its observers and dialogue partners, as well as friendly organizations like the United Nations (UN).

The foreign ministers said the organization should create a bigger role for observers and dialogue partners within the SCO framework, according to the press release.

They vowed to strengthen cooperation with other international and regional organizations on international and regional affairs. The foreign ministers also asked the Council of Heads of State to review the dialogue partner status of Turkey, the press release said.

China's foreign minister said SCO members will pay attention to events currently unfolding in Afghanistan, west Asia and north Africa. They will continue to play a constructive role in promoting the peaceful reconstruction of Afghanistan, appeal for adherence to the principles of the UN Charter and international laws, respect the choices of countries and people in the region and maintain peace, stability, prosperity and progress.

The press release said the SCO is concerned with the situation in Afghanistan, as it is closely related to regional peace and stability. All sides support the United Nations in playing a leading role to find a solution to the violence there, as well as support the efforts of the Afghan people to peacefully reconstruct their country.

The SCO supports Afghanistan's drive to become an independent, peaceful, neutral and prosperous country, the release said.

The foreign ministers will submit Afghanistan's observer status for review during the June summit.

The foreign ministers also voiced support for further cooperation in areas related to technology, culture, health, tourism and disaster relief.

Yang said the next decade is a key period for the development of the SCO. All member countries have agreed to submit a completed strategic plan on the organization's medium-term development to the SCO summit to approve, he added.

According to Yang, the upcoming summit will witness the signing of several agreements concerning politics, security, economics and culture.

He said the member countries will strengthen the construction of the SCO's standing institutions. On Friday afternoon, the foreign ministers unveiled a new building for the SCO Secretariat.

Yang said the SCO is a priority in China's foreign policy. The Chinese side will make joint efforts with other SCO members to make the organization an effective platform for regional cooperation, as well as a strong link for long-lasting friendship among all members, he said.

The meeting of the SCO foreign ministers opened Friday morning in Beijing to review and discuss cooperation among SCO members, formulate further measures and suggestions and prepare for the June summit.

Minister of Foreign Affairs of Kazakhstan Yerzhan Kazykhanov, Minister of Foreign Affairs of Kyrgyzstan Ruslan Kazakbayev, Russian Minister of Foreign Affairs Sergei Lavrov, Minister of Foreign Affairs of Tajikistan Hamrohon Zarifi and Minister of Foreign Affairs of Uzbekistan Kamilov Abdulaziz Khafizovich attended the meeting.

After the meeting, the foreign ministers signed a resolution and held a joint press briefing.

The foreign ministers also attended the opening ceremony for the new SCO Secretariat, located on central Beijing's Ritan road. Yang said the Secretariat has made "special contributions" to the development of the SCO, and all member states desire to see the improvement of the working conditions of the Secretariat.

President Hu Jintao met with all of the foreign ministers on Friday afternoon.

Observers of the SCO include Mongolia, Pakistan, Iran and India. Its dialogue partners are Belarus and Sri Lanka.

Uzbekistan to get Y202 million in aid

http://www.japantimes.co.jp of 5/8/2012

   

Japan will provide 202 million in grant aid to Uzbekistan over three years from this April to help the Central Asian republic develop human resources, the Foreign Ministry said Monday.

The aid will be devoted mainly to covering the expenses of young governmental officials from the country studying in Japan, it said.

Parliamentary Senior Vice Foreign Minister Ryuji Yamane and Uzbek Deputy Prime Minister Abdulla Nigmatovich Aripov signed and exchanged documents for the aid Thursday in Tashkent, it said.

German Engineering Dobersek signs contract with Uzbek Navoi MMP to expand phosphate complex

http://www.timesca.com of 5/5/2012

   

German Engineering Dobersek GmbH has signed a contract worth $35 million with the Uzbek Navoi Mining and Metallurgical Plant (NMMP) to expand the Kyzylkum phosphate complex (KPC) in the Central Kyzylkum, according to the NMMP.

The German company will supply equipment to create additional technological lines to produce enriched phosphorite concentrate with the capacity of 316 tonnes per year. The contract will be implemented within two years.
The project will be financed through the NMMP's own funds worth $20 million and loans from Uzbek banks worth $15 million.
The first turn of Kyzylkum phosphate complex with the capacity of 200,000 tonnes of phosphoric concentrate was commissioned in 1998. In late 2000, the complex began producing 400,000 tonnes of phosphate concentrate and 200,000 tonnes of unenriched ground phosphate rock.
In 2007, the German Engineering Dobersek GmbH spent ten million euros to upgrade the complex.
The Dzheroy deposit in the Central Kyzylkum with reserves of 303.6 million tonnes of ore and 57.7 million tons of phosphate raw materials will ensure agricultural needs in the phosphorous fertilizers for more than 100 years and serves as a raw material base for the KPC.
Today Uzbekistan has three companies that produce phosphate fertilizers: Kokand Superphosphate Plant (Ferghana region), Samarkand Chemical Plant and Ammophos-Maxam (Almalyk, Tashkent region). In 2011, the production of phosphate fertilizers in Uzbekistan decreased by 6.3% to 139,400 tonnes.

aucc logo

Contact Information

 

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

PROUDLY SERVING OUR MEMBERS:

Boeing
CNH


FMN

GE

GM
Harris
HW

Indsur Stelcor, Inc.

 

 

Lockheed Martin small  

 

Nukem 

Rio Tinto
Sikorsky
Solar turbines
White & Case
Zeppelin
Join Our Mailing List