American-Uzbekistan Chamber of Commerce
BUSINESS NEWSLETTER
 
Week in Review:
August 17, 2012 - August 24, 2012

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In This Issue:
AUCC IN BRIEF
Uzbekistan, USA to implement projects for US$2.8bn
Uzbekistan's foreign trade turnover grows by 6.6% in 1H
GM Uzbekistan increases car sales in Kazakhstan
Russia, China and Kazakhstan - largest trade partners of Uzbekistan

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.

http://uzdaily.com  

Business circles of Uzbekistan and the United States of America today reached agreements on implementation of 21 projects for total sum of about US$2.8 billion.

UzA said that the business entities of two sides are planning to implement projects in such areas as machinery, metal processing, energy, oil and gas mining, petrochemical, electrotechnical, mining, pharmaceutics, etc.

An Uzbekistan-US Business Forum was held in Tashkent on 17 August 2012 within the Third round of the Uzbek-US political consultations.

Representatives of over 30 US companies participated at the event. Among them were representatives of Boeing, Solar Turbines, General Motors, Merck, General Electric Energy, Anadarko, Zeppelin International, Case New Holland, Nukem and others.

Uzbekistan and the United States established diplomatic relations in 1992. In the same year, the sides inked agreement on investment preferences. In 1993, they signed agreement on trade relations.

Trade turnover between two states made up US$249.9 million. In January-June, the figure made up US$127 million.

Currently, some 241 enterprises with the US investments are registered in Uzbekistan. They work in such areas as automobile, oil and gas, light, food, machinery, construction materials, trade and services, etc. Some 47 US firms were accredited at the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan.

http://uzdaily.com  

Uzbekistan's foreign trade turnover grows by 6.6% in 1H Tashkent, Uzbekistan (UzDaily.com) -- Foreign trade turnover of Uzbekistan grew by 6.6% year-on-year in January-June 2012 to US$13.088 billion, the State Statistics Committee of Uzbekistan said.

According to the committee, exports of Uzbekistan made up US$7.165 billion in the reporting period (+1.1%) and imports made up US$5.923 billion (+14.1%).

At the same time, foreign trade turnover of Uzbekistan with the CIS states reached US$6.137 billion (+21.9%) and other countries - US$6.951 billion (-4%).

Uzbekistan exported goods and services to the CIS states for US$3.842 billion (+33.5%) and other states - US$3.322 billion (-21%). Imports from the CIS states rose by 6.4% to US$2.295 billion and other states - by 19.5% to US$3.628 billion.

Unbalance in foreign trade was 121% versus 136,4% in the reporting period of 2011, the committee said.

Balance of external trade was US$1.242 billion, including US$1.546 billion with the CIS countries and minus US$304.7 million with other foreign countries.

http://uzdaily.com
GM Uzbekistan, an Uzbek-US carmaker, sold 763 automobiles in Kazakhstan in July 2012 against 437cars in the same period of 2011, the consulting company Qncepto said in its report.

The growth of sales made up 74.6%. At the same time, GM Uzbekistan claimed the second place on the volume of sales in July 2012.

Qncepto said that Nexia claimed the fourth place among best selling cars in Kazakhstan in July 2012.

Another model of GM Uzbekistan, Matiz was on the ninth place among best selling cars in Kazakhstan in the reporting period, moving one place up compared to June.

http://uzdaily.com 
Russia, China and Kazakhstan were the largest trade partners of Uzbekistan in the first half of 2012, the State Statistics Committee of Uzbekistan said.

Share of Russia made up 29.5% in the first half of 2012 in total foreign trade turnover of Uzbekistan. According to the State Statistics Committee, trade turnover between Uzbekistan and Russia made up US$3.856 billion in the reporting period, which grew by 28.6% year-on-year. At the same time, export of Uzbekistan reached US$2.674 billion in January-June 2012 (1.932 billion in 1H 2011) and imports - US$1.182 billion (US$1.067 billion).

China was the second largest trade partner of Uzbekistan in the reporting period with the share of 12.3%. In the reporting period, bilateral trade turnover made up US$1.609 billion, which rose by 54.5% year-on-year.

The volume of exports of Uzbekistan to China grew from US$394.3 million in January-June 2011 to US$725.8 million in the first half of 2012. Imports grew from US$647.2 million to US$833 million.

Kazakhstan was the third largest trade partner of Uzbekistan with the share of 10.7%. Bilateral trade turnover between two states rose by 17.9% - to US$1.406 billion in the first half of 2012. Exports of Uzbekistan to Kazakhstan rose from US$643.4 million to US$794.2 million, and imports - from US$548.6 million to US$611.7 million.

Foreign trade turnover of Uzbekistan grew by 6.6% year-on-year in January-June 2012 to US$13.088 billion.

Ten largest trade partners of Uzbekistan
Countries
Share in trade turnover of Uzbekistan. %
Trade turnover between countries (in mln. USD)
 
1H 2012
1H 2011
1H 2012
1H 2011
Russia
29.5
26.1
3855.7
2998.9
China
12.3
7.8
1608.8
1041.5
Kazakhstan
10.7
9.5
1405.9
1192
Republic of Korea
8.8
6.5
1148.7
781.3
Afghanistan
4.6
2.5
604.3
305.6
Turkey
4.3
5.1
559.9
613.2
Ukraine
3.3
2.5
426.6
314.5
Iran
2
1.7

256.6

216.8
Germany
1.8
2.4
239.7
288.2
France
1.5
1.9
191.7
235.9
 

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