American-Uzbekistan Chamber of Commerce
Week in Review:
April 24, 2015 - May 1, 2015
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Dear AUCC Members and Friends:


Happy Holidays and best wishes for a prosperous New Year! 


We would like to express our gratitude to all AUCC members who, through all these years, have proven to be Uzbekistan's true allies and have been nothing but dedicated, reliable, honest and most conscientious business partners inspired to expand the bilateral relationship, business climate and promote development to enhance the lives of the people of Uzbekistan and the US.  


Our companies recognize that despite the global economic slowdown, Uzbekistan has managed to secure successfully greater macroeconomic stability and growth.  We applaud the Government of Uzbekistan for their continuous process to improve the operating business environment that US companies benefit from and fiscal discipline that has enhanced economic growth.  We greatly appreciate our own US Government for their continuous dialogue with their Uzbek counterparts on how to use trade and investment engagement as a pillar of the bilateral relations.


We stand ready to use our business acumen to facilitate the Uzbek and US Governments' efforts to attract more American companies and helping those who are already here generate even more success stories for the world to hear. We hope for the US and Uzbek Governments' support in helping us multiply our achievements and generate more projects and contracts that will make our nations achieve greater prosperity, stability and higher rates of development. 


Happy Holidays!  May 2015 bring greater prosperity to the American and Uzbek people. 




Carolyn Lamm, AUCC Chairperson

Timothy McGraw, AUCC President


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:

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.


May 1, 2015 


On 30 April 2015, the Second National Millennium Development Goals (MDG) report of Uzbekistan was launched in Tashkent's Wyndham Hotel. The event was attended by representatives of Government ministries and institutions, international agencies, diplomatic corps, experts and the civil society.

This report is a joint effort of the Government of Uzbekistan and the United Nations (UN) agencies in Uzbekistan, and it aims to provide an analysis and assessment of the country's progress towards the attainment of the Millennium Development Goals during 2000-2013. It also identifies key factors that have contributed to the achievement of the goals as well as highlighting the challenges the country will have to address in the years to come.

The report provides a meaningful account of how Uzbekistan has progressed in achieving nationalized MDGs.

As the country embarks on a phase of accelerated transformation processes, the national strategy for maintaining further improvements in sustainable human development will need to be adapted. Therefore, along with the analysis of the achievements, the authors of the report outline key directions for the country's socio-economic development beyond 2015.

Thus, the report marks an important timescale for Uzbekistan to start consultations on how the global post-2015 agenda and the set of SDGs will fit within the country's own development planning and priorities for the next period.

The MDG report is the result of a highly participatory and consultative process: 8 working groups were formed with national experts from more than 15 Ministries and institutions and representatives of eight UN agencies; 4 rounds of working group meetings and round tables were organized to discuss the structure and core content of the document; several international experts were involved in its preparation.

The Center of Economic Research (CER), a coordinating body on preparation of the MDG Report, has made a presentation of MDG Report to highlight the progress towards attainment of MDGs in Uzbekistan. In turn, the UN Office in Uzbekistan has delivered information on key principles and priorities of Sustainable Development Goals (SDG) at the global level.

Minister of Economy of Uzbekistan Galina Saidova said that the level of poverty in Uzbekistan fell twice. Significant progress was also achieved in education, gender equality, healthcare, environment protection and improvement of business climate, she said.

According to national report, the poverty level in Uzbekistan fell 1.9 times in Uzbekistan in 2001-2013 - from 27.5% to 14.1% of population. The figure, as expected, will decrease to 13.7% in 2015.

The poverty level in rural areas fell from 30.5% to 17.3% in the reporting period, and in urban areas - from 22.5% to 10.6%.

Saidova said that the report can became a base for launch of consultations on developing and adaptation of global development programme after 2015 and Sustainable Development Goals (SDG) for Uzbekistan.

Stefan Priesner, the UN Resident Coordinator for Uzbekistan, said that SDG will continue MDG ideas as there are problems in the world, which should be address. He said that the SDGs are more ambitious as their implementation will be global responsibility, which countries will share among themselves. He said that nobody should stay away from this process and rule of law will play key role in this process.

The SDGs will be the second stage of developing cooperation, which was established within cooperation between the Government of Uzbekistan and UNDP Country Office in Uzbekistan on achievement of MDGs in the country, he said. The dialogue with the government to achieve development will be continued.



April 29, 2015 


The World Bank will implement in Uzbekistan a project worth $150 to support the country's agriculture sector.

The World Bank and the Uzbek government signed in early April an agreement for a $150 million loan provided by the IBRD to finance a Horticulture Development Project in Uzbekistan.

The project has been designed in support of the government's five-year Industrial Modernization and Infrastructure Development Program (2011-15) cross-cutting development priorities as enhancing the competitiveness of industries, such as agro-processing and diversifying the economy and thereby reducing its reliance on a few commodity exports, the World Bank said.

The bank said the project will contribute to poverty reduction in the country by assisting horticulture farmers, many of whom are small and comprise the poorest, to increase their farm productivity and incomes, and fostering greater and better rural jobs through: improving access to technologies, knowledge and markets; strengthening technical and managerial capacity in the farming and agri-business sectors; and introducing new financial products in the financial sector. These will bring sustained benefits to the project beneficiaries over the long-term.

At the same time, the project will promote shared prosperity by supporting the growth and development of small and medium enterprises in the rural areas, creating more and better paying jobs in the agro-processing, trading and export sectors, and increasing the value added of the agricultural sector.

"Having more jobs and better paying jobs is critically important for the well-being of people living in the rural areas of Uzbekistan," said Junghun Cho, the World Bank country manager for Uzbekistan.

He said the new Horticulture Development Project will help create much-needed jobs by improving access to technologies, knowledge and markets, strengthening technical and managerial capacity in the farming and agri-business sectors, and introducing new financial products in the financial sector.

The project has three components: agricultural support services, access to credit, and project management, and will be implemented in eight regions of Uzbekistan, namely Andijon, Jizzak, Ferghana, Kashkadarya, Karakalpakstan, Namangan, Samarkand, and Tashkent.

This is the first project in the World Bank Group portfolio in Uzbekistan where the World Bank and the International Finance Corporation will join efforts in implementing the project.

IFC will support local food producers and processors in implementing internationally recognized food safety solutions; help companies along the agribusiness value chain to improve their competitiveness and long-term value chain sustainability; and improve capacity building of commercial banks' staff by promoting of all types of agricultural lending. It ensures access to markets for farmers-producers of supply chains.

The project will bring benefits to farmers, farmer groups, private enterprises, agro-firms, and agro-processing enterprises, involved in the country's horticultural sub-sector.



April 30, 2015 


The board of Uzbekistan's Central Bank decided to keep the refinancing rate at nine percent.

"The decision was made basing on the tasks set in main directions of the monetary policy for 2015, as well as given the actual and expected inflation rate in the current year," the bank reported on April 30.

The refinancing rate was reduced by the central bank from 10 to nine percent from Jan. 1, 2015.

Uzbekistan, since 2000, has applied the floating rate of refinancing, corrected depending on the dynamics of inflation, demand and supply in the money market.

From July 2006 to January 2011, the rate remained at 14 percent, and in 2011-2013 it was at 12 percent. In early 2014, the central bank set the refinancing rate at 10 percent per annum.

Uzbekistan's government plans to keep in 2015 the inflation at 5.5-6.5 percent.

Uzbekistan's banking system is currently represented by 26 commercial banks, including three state-owned, 11 joint-stock, seven private and five banks operating with the involvement of foreign capital.



May 1, 2015 






8.30 am - 4.00 pm

Tuesday, October 13, 2015


Pavilion Room

The Ronald Reagan Building and International Trade Center

1300 Pennsylvania Avenue NW

Washington, DC 20004



Mr. Elyor Ganiev, Minister of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan (confirmed)


Ms. Nisha Biswal, Assistant Secretary of State, South and Central Asian Affairs, US Department of State(invited)

Mr. Michael Lally, Executive Deputy Assistant Secretary, Europe, Middle East and Africa, US Department of Commerce (confirmed)

Mr. Raymond Ellis, Vice President & Manager, Global Business Development Division, Export-Import Bank of the United States (confirmed)

The event will be followed by a reception to welcome members of the official Uzbek delegation and the forum's participants

More information about the forum's speakers and agenda to follow.


Organized by the American-Uzbekistan Chamber of Commerce


Sponsored by The Ronald Reagan Building and International Trade Center



For more sponsorship opportunities, please contact AUCC at 202-509-3744 and


AUCC would like to invite all interested parties to participate in the 2015 US-Uzbekistan Annual Business Forum and hear the Uzbek Government plans and opportunities for our members' increased trade and investment engagement in the market that can help US become a leading business partner.  AUCC members will also share their success stories to encourage more US companies to do business and invest in Uzbekistan.    


The American-Uzbekistan Chamber of Commerce (AUCC) is the only trade association in the United States and Uzbekistan that exclusively represents the business interests of U.S. companies active in the Uzbek market. Established in 1993 and based in Washington, D.C., AUCC is the first bilateral trade organization that successfully promotes trade and investment ties, cultural exchanges and bonds of friendship between the United States and the Republic of Uzbekistan.


In performing its functions, AUCC places primary emphasis on serving the needs and interests of its members, namely:  
The Boeing Company, Case New Holland Industrial, The Coca-Cola Company, FMN International, General Electric, General Motors, Harris Corporation, Honeywell, Indsur Stelcor, Inc., Lockheed Martin, Nukem Inc., Rio Tinto, Solar Turbines, Sustainment Solutions, Inc., White & Case LLP and Zeppelin International AG. These companies are united by one common cause: promotion of trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan.


Today, Uzbekistan represents the largest market in the Central Asia region with a population of almost 30 million people, an annual GDP growth of 8% and a well-established and diversified economy. American companies invested more than $500 million in the Uzbek economy during the period 1992 to 2012.  In addition, U.S. exports to the Republic of Uzbekistan amounted to more than $3.3 billion. The year 2012 is a good example when US exports to Uzbekistan totaled more than $285 million compared to $100 million in 2011 and $101 million in 2010.  In 2013, the trade levels continued to increase reaching a record $386 million.  During the first nine months of 2014, the US-Uzbekistan trade turnover amounted to $281 million.  While this is good news, the volume of U.S. exports and investments in this largest Central Asian market is lower than those of Uzbekistan's near neighbors, including Russia with its' 2013 exports to Uzbekistan reaching more than $7.1 billion; Сhina - $5.2 billion and Korea - $2.1 billion.  


To register and learn more about the forum, please click here.  Seating is limited.  


Please respond by Monday, October 5, 2015 to confirm your participation.


Admission Fee:


$00.00 - AUCC members ONLY and the US Government offices


$100.00 - All other companies and organizations


Cancellations received within 48 hours of the event are non-refundable. 

Click on the link below to register or RSVP.
Register Now!
For more information about the event, please contact AUCC office at or call us at 202-509-3744.  


Thank you for your attention and response.  We look look forward to seeing you on Tuesday, October 13, 2015. 


The American-Uzbekistan Chamber of Commerce


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