American-Uzbekistan Chamber of Commerce
BUSINESS NEWSLETTER
 
Week in Review:
October 5, 2012 - October 12, 2012

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In This Issue:
AUCC IN BRIEF
Central Asian gas export potential
Programme of visit of Uzbek President to Azerbaijan revealed
Access to goods and services markets at WTO accession discussed in Tashkent
OSCE Project Co-ordinator in Uzbekistan holds seminar on international transport law
Tashkent hosts conference on renewable energy trends
Uzbekistan's economy to grow by 7.4 percent in 2012: IMF

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://www.energyglobal.com   

 

Wood Mackenzie has presented its long-term forecast for potential gas exports from Central Asia; Turkmenistan, Kazakhstan and Uzbekistan. The region has significant long-term export potential into multiple markets, however, its export outlook remains uncertain due to political, financial, competitive and technical challenges.

In order for Central Asia to realise its long-term potential of total exports of over 120 billion m3 by 2020, multiple phases of the giant South Iolotan (Galkynysh) project in Turkmenistan must be developed efficiently.  Delays to the production ramp-up at the South Iolotan field will have a substantial impact on the global gas market.

Stephen O'Rourke, Senior Gas Supply Analyst for Wood Mackenzie, said, "Central Asia's geographic position and production potential makes it a possible supplier to multiple markets. Of all of the export markets available to Central Asia, Wood Mackenzie believes that the one with the greatest potential is China via the Trans-Asian pipeline. Our view is that China will require additional imports over and above Central Asia's current contract of around 45 billion m3 by 2015.  We forecast that China will have around 50 billion m3 of gas demand in 2020 that needs to be satisfied by additional imports and Central Asian gas could play a key role is meeting this demand."

http://en.trend.az   

 

During the upcoming official visit to Azerbaijan on October 11-12, President of Uzbekistan Islam Karimov will discuss the entire range of bilateral relations, including enhancing political dialogue, cooperation in regional security, broadening and deepening of trade and economic cooperation and expanding relations in the humanitarian sphere, a diplomatic source told Trend.
Talks between the heads of the two countries will be held at the Palace of the President of Azerbaijan Zugulba on October 12.

The sides are expected to sign a number of documents as a result of the negotiations.

The visit of President Karimov also includes a visit to the Alley of Honours, where a wreath will be laid at the tomb of national leader Heydar Aliyev. A wreath will also be laid at the memorial to the Eternal Flame at the Alley of Martyrs.

Diplomatic relations between Uzbekistan and Azerbaijan were established on October 2, 1995.

There were five high level visits during the time - two visits to Azerbaijan (1998 and 2008) and three to Uzbekistan (1997, 2004 and 2010).

Relations between the two countries are based on deep historical roots, community and proximity of national traditions, customs, language, culture and religion. They have well-defined strategic priorities and guidelines. This in turn creates an opportunity for long term cooperation based on mutual trust and mutual assistance.

Uzbekistan has always supported and continues to support a peaceful political solution to the Nagorno-Karabakh conflict and believes that one of the main provisions of the settlement should be to ensure the territorial integrity of Azerbaijan. In turn, Azerbaijan supports practical steps and Uzbekistan's approach to topical regional issues in Central Asia.

The relations between Uzbekistan and Azerbaijan have rapidly developed in recent years up to a level of strategic partnership.

Close and trusting dialogue between the leaders of Uzbekistan and Azerbaijan became a key factor in enabling them to increase bilateral relations to higher level.

Intensification of trade, economic and investment relations is a priority area of bilateral cooperation.   

The upcoming visit will give a new impetus to further expansion and deepening of mutually beneficial cooperation between Uzbekistan and Azerbaijan.

http://uzdaily.com   

 

On 4-5 October 2012, the UN Development Programe in Uzbekistan in cooperation with the representatives of the World Trade Organization (WTO) and United Nations Conference on Trade and Development (UNCTAD) organized a workshop on issues of access to goods and services market at accession to the WTO.

The seminar was organized in order to strengthen capacity on holding negotiations within the process of the WRO accession.

The seminar became an important event in the context of intention of Uzbekistan to further deepen integration into world economic system. Organization of the seminar for representatives of inter-agencies working group of Uzbekistan on issues related to WTO accession allowed to raise their potential on holding negotiations and preparing documents in process of WTO accession.

One of the key tasks of the workshop is to improve knowledge of the participants on activities of the WTO and use of this mechanism as a tool of promotion of economic interests of Uzbekistan.

At the seminar, the participants studied international experience on preparation of tariff proposals on goods and table of specific commitments in service sector. Along with the benefits, which the country receives after joining to the WTO, the participants discussed selection of accession strategy to maximize benefits and avoid negative impact to Uzbekistan.

Taking into account that large number of issues considered at the WTO accession, the seminar attracted over 60 representatives of various ministries and departments of Uzbekistan.

Participants will use their new knowledge obtained during the workshop for preparation of documents, necessary for the accession to the WTO, including development of tariff offers, table of specific commitments on services, action plan on harmonization of national legislation framework to the WTO rules.

The organizers of the event decided that they will continue joint work in this direction.

This event was organized within plan of activities of joint project of the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan and UNDP "Support to Foreign Trade and Investment Promotion in Uzbekistan". The project focuses on strengthening the institutional capacity of government agencies responsible for trade facilitation and investment promotion.

http://uzdaily.com   

 

A training course on international transport law organized by the Project Co-ordinator in Uzbekistan started in Tashkent today.

Some 30 representatives of companies dealing with international transportation matters are taking part in the two-day course aiming at deepening their understanding of the role and principles of international conventions, bilateral and multilateral agreements, environmental laws and International Commercial Terms published by the International Chamber of Commerce (ICC). The training course is delivered by an international trainer in the field of international transport law and logistics.

A similar course will be held in city of Bukhara on 11-12 October.

Since 2008, the OSCE Project Co-ordinator has contributed to the development of transport sector in Uzbekistan and in particularly to the elimination of non-physical barriers during border crossing. The Project Co-ordinator co-operates both with the government in support to the improvement of the legislation and with private sector in raising the awareness on international transport regulations.


Tashkent hosted an international conference titled "Recent Trends and Prospects for Renewable Energy: From low-dimensional functional materials to innovation management".

The event was organized by Physics Union of Uzbekistan in cooperation with Turin Polytechnic University in Tashkent and Uzbekistan National University.

Scientists, specialists and experts from Japan, Italy, United States and Uzbekistan participated at the work of the conference.

The main focus of the workshop is to isolate and discuss less-explored aspects and prospects for the development of renewable energy from the viewpoint of advanced technology, resource-saving materials and innovations with special focus on Uzbekistan.

During the conference, the participants considered such issues as third generation solar cells on the basis of low-dimensional materials, thermoelectricity on nanomaterials, biomass energy conversion, etc.

Alternative energy is becoming priority direction in global economy. It is expected that renewable energy can become one of key factors for sustainable development.

Uzbekistan also faces problems on creation of high effective sources of renewable energy. The Government of Uzbekistan directed in this area. The volume of investments is increasing.

At the conference, the participants considered priority directions, problems and perspectives of alternative energy sources, as well as effective management of innovation in this area.


The International Monetary Fund (IMF) forecasts that Uzbekistan's gross domestic product (GDP) could grow 7.4 percent this year, 0.4 percentage point higher than its April projection.

The IMF said in the October edition of its World Economic Outlook that the inflation rate in Uzbekistan for 2012 could stand at 12.9 percent.

According to the report, the global economy would grow 3.3 percent in 2012 instead of the previously estimated 3.5 percent, as the IMF believes the world economy has weakened further despite its continued recovery.

Earlier this month, the Asian Development Bank (ADB) maintained its forecast of Uzbek economic growth at 8 percent for the current fiscal year ending next June.

Uzbekistan has averaged 8 percent in GDP growth since the mid-2000s.  Read full report here.   


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