American-Uzbekistan Chamber of Commerce
Week in Review:
June 6, 2014 - June 13, 2014
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2014 Opens a New Era for the Chamber

Since 1993 the American-Uzbekistan Chamber of Commerce has been at the forefront of advancing trade and business relations between the US and the Republic of Uzbekistan. AUCC prides itself in catering to the needs of our members, providing them with a platform to interact with policy makers in the US and the Republic of Uzbekistan and ensuring that bilateral commercial relations continue to be on the governments' top agenda.   


For the last twenty years AUCC has been a vigorous advocate of the views of the business community to ensure that private sector positions are considered during the development of policies that impact American businesses and the future of U.S.-Uzbekistan relations.  While 2013 concluded our celebrations for the 20th anniversary it also opened a new era for the chamber and our members.


We are delighted that today AUCC continues to be a well-known organization that is recognized for its strength and ability to work closely with a great number of partner organizations. AUCC enjoys excellent working relations with the Embassy of the Republic of Uzbekistan in Washington, D.C., the Government of the Republic of Uzbekistan, Uzbek ministries, associations and organizations as well as the executive and legislative branches of the U.S. AUCC also coordinates its efforts with a great number of international financial institutions, business councils and other professional organizations.


We thank you all for your support and engagement and look forward to another year of progress and business successes.  


If your company is interested in joining AUCC, please contact our office at 202-509-3744 or  We invite you to be part of our organization and participate in our activities and events.   


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In This Issue:
Member News: Timothy McGraw to become President and CEO of NUKEM, a subsidiary of CAMECO CORPORATION
Date of visit of South Korean president to Uzbekistan announced
Uzbekistan to expand co-op with int'l organizations in vegetable production
Uzbekneftegaz opens two new gas condensate fields

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.  


June 6, 2014


AUCC is pleased to announce that Timothy Y. McGraw, NUKEM's executive vice-president since 2008, has been appointed president and CEO effective July 8, 2014. 

Mr. McGraw joined NUKEM in 1995 as director of CIS (Commonwealth of Independent States) affairs, and has since held positions as vice-president international and executive vice-president.  Mr. McGraw will succeed Jeffrey R. Faul who has been NUKEM's president and CEO since 2008 and decided to take early retirement.

"As one of the founding members of the American-Uzbekistan Chamber of Commerce, I have had a great pleasure of working with Tim since the chamber's inception.  I and the AUCC Board of Directors are delighted to hear that he will now lead NUKEM who has been a staunch supporter of AUCC and at the forefront of advocating for stronger business relations between the US and Uzbekistan.  On behalf of all AUCC members, I would like to wish Tim many years of professional achievements and look forward to working with him in his capacity as AUCC President on the US-Uzbekistan business agenda", said Carolyn Lamm, AUCC Chairperson. 

AUCC is honored to have Mr. McGraw as our President.  Our sincere congratulations to Mr. McGraw's family, colleagues and friends!

About the company: NUKEM, a wholly-owned subsidiary of Cameco Corporation, has been an active participant in the civilian nuclear fuel market for more than 50 years, and remains among the top uranium suppliers to nuclear utilities worldwide. NUKEM has 35 experienced professionals and support staff at its offices in Alzenau, Germany and Danbury, Connecticut. 

A founding member of AUCC, NUKEM has served on the chamber's Board of Directors since 1993.  


June 13, 2014


The President of South Korea Park Geun-hye will pay her first state visit to Uzbekistan from June 16 to June 18 at the invitation of the Uzbek President Islam Karimov, an official message said on June 13.

The agenda of the visit includes negotiations between the presidents on the issues related to the development of bilateral cooperation in the political, economic, social, cultural and other spheres, the priorities of the long-term multilateral Uzbek-South Korean cooperation, as well as the topical regional and international issues.

The presidents are expected to sign a joint declaration on the further development and intensification of the strategic partnership.

The two sides also plan to sign a package of interstate and interagency documents on the development of bilateral cooperation.

During the visit, it is expected to hold the Uzbek-South Korean business forum. Moreover, Park Geun-hye will meet with the representatives of the South Korean diaspora.

The South Korean president will visit Uzbekistan's Samarkand city on June 18.

South Korea is one of the largest investment partners of Uzbekistan. Over 200 documents regulate the relations between the two states in various spheres.

Largest investment projects are jointly implemented with South Korean companies. Some $3.9 billion worth project for construction of the Ustyurt GCC at Surgil field, around $150 million worth project for development of the Sautbay tungsten deposit, organization of the textile complex are among such projects.

The trade turnover between the two countries stood at $2.12 billion in 2013.  


June 13, 2014


Uzbekistan is planning to expand cooperation with international organizations, foreign investors, entrepreneurs, banks, scientists and specialists in the field of production of fruits and vegetables.

These remarks were made by Uzbek President Islam Karimov at an international conference on implementation of the food program in the country.

"In accordance with our estimates, in 2020 we are expected to increase production of fruits and vegetables, grape and melons by at least 2.3 times compared to 2014," he said.

The head of state also informed the participants about the unique soil and climatic conditions in Uzbekistan, creating exceptionally favourable conditions for growing fruits and vegetables in a wide range.

"As experts say, the fruits and vegetables which are grown in our country exceed significantly similar production of other regions in terms of natural ingredients including sugar, amino and organic acids, important elements and other biologically valuable substances for health," Karimov added.

Uzbek farmers have cultivated more than 170 varieties of vegetables, melons and potatoes, as well as 175 new varieties of fruit and berry crops and grape so far.

Currently, Uzbekistan exports more than 180 kinds of fresh and processed fruit and vegetable products to 80 countries, and the country is among the ten leading suppliers in terms of the volume of such exports.

Uzbek president also stressed the importance of timely delivery of products from the farm to the consumers' houses and the reduction of loss of times on this route.

At present, the country has more than 1,300 storage facilities for fruit and vegetable production with the capacity of over 630,000 tons per year.

Also, there are facilities in the Navoi free economic zone for the storage of more than 3,000 tons of fresh fruits and vegetables in an appropriated condition for export to the European and Asian markets.

The Uzbek companies will commission Liepaja transport and logistics centre at Baltic port with the daily storage capacity of 1,500 tons in the near future, through which fresh fruits and vegetables will be exported to Northern and Western Europe.

Currently, there are about 400 enterprises with foreign direct investment, working in the areas of production of fresh products and manufacturing of food products on the basis of deep processing. Only in 2013, these enterprises produced goods worth more than $800 million, including exports worth more than $200 million.

Uzbekistan is planning to implement an additional 265 investment projects on the handling and processing of raw fruit and vegetables totalling approximately $150 million within 1.5-4 years in the coming years.

Karimov went on to say that Uzbekistan produces nearly 16 million tons of fruit and vegetable products and over 7.8 million tons of cereals per year.

"As a result of the cardinal reforms carried out in the years of independence, the cereal production has increased from 900,000 tons to 7.8 million tons in the last 22 years, thus turning the country into a main grain exporter. We imported around five million tons of wheat before," Karimov said.

The president also noted despite the population growth by 10 million people, the volume of agricultural production has more than doubled in the period of the country's independence.

Meat consumption per capita has increased by 1.3 times, milk and milk products by 1.6 times, potato by 1.7 times, fruit by almost four times and vegetable consumption has more than doubled.

The country produces nearly 300 kilograms of vegetables, 75 kilograms of potato, 44 kilograms of grapes per capita, which exceeds the optimal consumption rates by nearly three times.  


June 10, 2014


National holding company Uzbekneftegaz opened two fields with hydrocarbon reserves for about 20 million tones of conditional fuel in the first quarter of 2014, according materials of the Uzbek company.

During exploration works, two gas condensate fields - Ahirbulak in Bukhara-Khiva district and Yangi Chibiny in Ustyurt district were revealed. Both fields were included to balance of Uzbekneftegaz.

According to the holding, recoverable hydrocarbon reserves of Uzbekistan makes up over 2.5 billion tones of conditional fuel as of 1 January 2014, of which 65% fell to share gas reserves.

The concept of development of oil and gas sector of Uzbekistan for 2013-2020 envisages to increase hydrocarbon reserves by 24.5% to 3.16 billion tones of conditional fuel. In particular, it is planned to increase gas reserves by 488.5 billion cubic meters and liquid hydrocarbons - by 41.7 million tones.

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