American-Uzbekistan Chamber of Commerce
BUSINESS NEWSLETTER
  
Week in Review:
 
July 18, 2014 - July 25, 2014
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AUCC 20th logo

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 info@aucconline.com.  We invite you to be part of our organization and participate in our activities and events.   

 

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In This Issue:
AUCC IN BRIEF
Ambassador Pamela Leora Spratlen, Nominee for Ambassador to the Republic of Uzbekistan, Department of State
AUCC Member, GM Uzbekistan, increases car production by 6.3 percent in January-June
Uzbekistan's foreign trade turnover grows by over 6% since early 2014
Asian Development Outlook 2014 Supplement: Stable Growth Outlook for Developing Asia
IMF: An Uneven Global Recovery Continues

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.

whitehouse.gov  

 

July 24, 2014

 

Ambassador Pamela Leora Spratlen, a career member of the Foreign Service, Class of Minister-Counselor, is Ambassador to the Kyrgyz Republic, a position she has held since 2011.  Previously, she served as Deputy Chief of Mission at the U.S. Embassy in Astana, Kazakhstan from 2009 to 2011, and as Office Director for Western European Affairs in the Bureau of European and Eurasian Affairs at the Department of State (DOS) from 2008 to 2009.  Ambassador Spratlen also served as Office Director for Central Asian Affairs in the Bureau of South and Central Asian Affairs at DOS from 2006 to 2008, as Special Assistant to the Counselor at DOS from 2005 to 2006, and as Diplomat-in-Residence at the East West Center in Honolulu, Hawaii from 2004 to 2005.  She served as Principal Officer at the U.S. Consulate General in Vladivostok, Russia from 2002 to 2004, as Assistance Coordinator at the U.S. Embassy in Moscow, Russia from 2000 to 2002, as Staff Officer in the Executive Secretariat from 1998 to 1999, and as Special Assistant to the Ambassador of the U.S. Mission to the Organization for Economic Cooperation and Development in Paris, France from 1995 to 1998.  From 1992 to 1994, she was a Special Assistant to the Ambassador/Trade Officer at the U.S. Mission to the Organization of American States from 1992 to 1994, and served as an Entry-Level Officer at the U.S. Embassy in Guatemala City, Guatemala from 1990 to 1992.  Earlier in her career, she was a Principal Consultant for the California Assembly Committee on Ways and Means in Sacramento, California from 1984 to 1989 and a Program Budget Analyst on the Joint Legislative Budget Committee in Sacramento, California from 1981 to 1984.  Ambassador Spratlen received an A.B. from Wellesley College, an M.P.P. from the University of California, Berkeley, and an M.S.S. from the U.S. Army War College. 

trend.az  

 

July 24, 2014

 

"GM Uzbekistan" JV (former "UzDEUAuto" JSC, Asaka city, Andijan region) increased car production by 6.3 percent up to 127,774 in January - June 2014, according to the statistics.

The car plant has produced 29,699 Nexia cars (a 2.4 percent decline), 7,267 Matiz cars (a 58 percent decline), 9,702 - Damas cars (a 14.6 percent decline), 337 Lacetti cars - (40 times less), 14,828 Spark cars (a 2.4 percent decrease) since early 2014.

At the same time, GM Uzbekistan increased Captiva car production by 2.8 times up to 3,476 units, Malibu by 76.2 percent up to 2,309 units, Cobalt by 9.7 percent up to 32,639 and produced 26,953 Gentra cars and 563 - Orlando.

It was reported that GM Uzbekistan started producing Chevrolet Gentra in November 2013, while Chevrolet Orlando - in March 2014.

UzDEUAuto JSC was created in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor Company. Uzbekistan bought Daewoo shares in a joint venture in 2005. Uzavtoprom and General Motors signed an agreement to establish a base for the GM Uzbekistan plant with authorized capital of $266.7 million in 2007. The U.S. side owns 25 percent of the shares plus one share in the enterprise, with the possibility of increasing it to 40 percent. At present, Uzavtoprom owns 75 percent of shares.

Currently, GM Uzbekistan JV produces nine car models. Two of these models, namely, Chevrolet - Captiva and Malibu are manufactured on SDK technology, while others are produced as part of full-scale production.

The automobile plant increased its car production by 4.5 percent (to 246,031 cars) in 2013, compared to 2012.

trend.az  

 

July 18, 2014

 

Uzbekistan's foreign trade turnover increased by 6.3 percent in the first half of 2014 up to $14 billion as compared with the same period of 2013, according to the preliminary data, Uzbek State Statistics Committee said on July 17.  Within the total foreign trade turnover the exports stood at $7.22 billion, or 8 percent more than the figures for the same period of 2013. In turn, the imports increased by 4.6 percent up to $6.74 billion, according to a message from the statistics committee. Uzbekistan's trade surplus in January-June, 2014 stood at $482.1 million compared to $242 million a year earlier, according to the data from the Uzbek statistics committee.  The data on the exports' and imports' commodity structure, as well as, on Uzbekistan's key trade partners in the mentioned period has not been provided in the committee's message.  The State Statistics Committee said that in 2013 the foreign trade turnover of Uzbekistan grew by 9.4 percent up to $28.886 billion, and the exports grew by 10.9 percent up to $15.87 billion, imports - by 7.7 percent up to $13,798 billion, while the trade surplus was $1.288 billion.

adb.org  

 

July 18, 2014

 

Description

Developing Asia's outlook remains on track despite slower-than-expected first quarter growth in the United States. The region is projected to grow steadily at 6.2% in 2014 and 6.4% in 2015, the same rates envisaged in Asian Development Outlook 2014. Slight downward revisions to GDP forecasts for Central Asia, Southeast Asia, and the Pacific are balanced by upward adjustments for South Asia. Relatively stable oil prices and declining food prices are helping to keep inflation in check such that consumer prices in the region are now expected to rise more slowly in 2014 than previously projected.

Highlights

  • Developing Asia remains broadly on track to reach the growth forecasts published in Asian Development Outlook 2014. Despite slower-than-expected expansion in the United States in the first quarter of this year, this Supplement maintains the regional growth forecasts at 6.2% in 2014 and 6.4% in 2015.
  • Growth in the People's Republic of China is moderating in line with earlier expectations and should achieve the forecast 7.5% in 2014 and 7.4% in 2015. East A
    sia as a whole is similarly paced to meet growth projections of 6.7% in both 2014 and 2015.
  • With parliamentary elections over, India is expected to pursue long-delayed reform. India's growth forecast is maintained at 5.5% in fiscal year 2014 but upgraded to 6.3% in FY2015 as expected reform bears fruit. With this improved outlook for the largest economy in South Asia, expansion in the subregion is expected to reach 5.4% in 2014 and pick up to 6.1% in 2015.
  • Growth in Southeast Asia softened in the first half of 2014 largely because of country-specific factors in Indonesia, Thailand, and Viet Nam. The outlook for the subregion's five largest economies is revised down to 4.8% in 2014, dragging the subregional forecast to 4.7%, but should rebound in 2015 to 5.6%, or 5.4% across Southeast Asia.

Declining food prices and relatively stable oil prices are keeping developing Asia's inflation in check at 3.5% in 2014 and 3.7% in 2015.

imf.org  

 

July, 2014

 

[Extract.  Click here for full report]

  • The global growth projection for 2014 has been marked down by 0.3 percent to 3.4 percent, reflecting both the legacy of the weak first quarter, particularly in the United States, and a less optimistic outlook for several emerging markets. With somewhat stronger growth expected in some advanced economies next year, the global growth projection for 2015 remains at 4 percent.1/
  • Global growth is expected to rebound from the second quarter of 2014, as some of the drivers underlying first quarter weakness, such as the inventory correction in the United States, should have only temporary effects, and others should be offset by policies, including in China. But the first-quarter setback will only be partially offset.
  • Downside risks remain a concern. Increased geopolitical risks could lead to sharply higher oil prices. Financial market risks include higher-than-expected U.S. long-term rates and a reversal of recent risk spread and volatility compression. Global growth could be weaker for longer, given the lack of robust momentum in advanced economies despite very low interest rates and the easing of other brakes to the recovery. In some major emerging market economies, the negative growth effects of supply-side constraints and the tightening of financial conditions over the past year could be more protracted.
  • In many advanced and emerging market economies, structural reforms are urgently needed to close infrastructure gaps, strengthen productivity, and lift potential growth.  
    [Extract.  Click here for full report].

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

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