American-Uzbekistan Chamber of Commerce
BUSINESS NEWSLETTER
  
Week in Review:
 
May 1, 2015 - May 8, 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. 

 

Sincerely, 

 

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 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:

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.

Azernews

May 7, 2015 

 

A mission of the International Monetary Fund and Uzbekistan's State Tax Committee have discussed the process of carrying out reforms in the country's tax administration and demand for IMF's assistance in this sphere.

The IMF mission was led by Daniela Gressani, deputy director of the organization's Middle East and Central Asia Department, according to the Committee.

The sides discussed the issues related to improving the tax administration, reformation of the tax policy, reducing the tax burden, expanding the tax base and the measures to create new jobs, according to the message.

They also discussed the issues of rendering interactive services by the Uzbek State Tax Committee and their role in the tax administration and expanding the taxable basis, according to the message from the State Tax Committee.

A representative of Uzbekistan's financial circles told Trend that the IMF mission arrived in the country on Apr.29 and the visit will last till May 14.

During the visit, meetings will be held in Uzbekistan's Central Bank, Ministry of Finance and other ministries. These meetings will focus on the issues related to the recommendations of IMF as part of rendering technical assistance.

Moreover, the IMF representatives intend to hold meetings with the government members, representatives of the civil society and private sector of Uzbekistan.

Uzbekistan became a member of IMF in 1992. IMF's representative office started operating in Uzbekistan from 1993.

 

 

Energy saving and increasing energy efficiency help to save significant volumes of primary energy resources, first of all natural gas, said participants of the recent press conference on the transition to a low-carbon development strategy of Uzbekistan's economy, Novosti Uzbekistana (http://nuz.uz) reported.

Experts say that energy saving is 2 to 5 times more profitable than construction of new generating facilities producing electricity and heat by burning fossil fuel.  

Uzbekistan's total energy saving potential is estimated at 23 million tons of oil equivalent a year, which would allow reducing greenhouse gas emissions by 40 million tons. According to Uzbek experts, introduction of energy efficiency measures in the most energy intensive sectors of the Uzbek economy would save 30%-40% of primary energy resources or 16 billion-21 billion cubic meters of natural gas per year.    

The United Nations Development Programme in Uzbekistan and the Ministry of Economy have jointly prepared a draft Strategy of low-carbon development for the three most energy intensive sectors of the national economy and a roadmap with measures and target indicators for the periods until 2030 and 2050.

According to preliminary calculations, construction of solar power plants combined with traditional sources of electricity generation will allow saving up to 1.5 billion cubic meters of natural gas per year during the first stage (until 2030), and generating an additional 5 billion kilowatt-hours of solar energy per year.

 

Azernews

May 4, 2015 

 

Uzbekistan plans to increase gold production by 20-30 percent, up to nearly 120-130 metric tons per year in 2015-2019, representative of the State Committee on Geology and Mineral Resources of Uzbekistan told Trend/

The increase in gold production is planned to be achieved through the development of new deposits.

Uzbekistan has achieved these objectives by the introduction of new gold deposits - thus the results of 2014 increased gold production by 4% to 102 tons compared to the year 2013, referring to materials USGS (United States Geological Survey).

Uzbekistan is ranked fourth in the world for gold reserves of after South Africa, the USA and Russia and the second place among CIS countries after Russia.

The main producers of gold in Uzbekistan are Navoi and Almalyk Mining and Metallurgical Combine.

Navoi MMC is one of the largest gold producers in Central Asia. The main base of the company is a gold deposit "Muruntau" (Central Kyzylkum), which improvement has been conducted since 1967. As part of the plant there are two gold processing plants HMP-2 Zeravshan and HMP -3 Uchkuduk.

The share of the Almalyk MMC accounts for up to 20 percent of gold production in the country. Fields "Kyzyl Olma" and "Kochbulak" in the Tashkent region are the major mining base of Almalyk MMC.

Within five years in its projects to increase gold production at Navoi and Almalyk, MMC plans to invest more than $ 1.1 billion.

Furthermore, Navoi MMC plans to build four new gold mines for a total value of 330 million dollars, as well as modernize the existing career "Muruntau" and "Zarmitan" with a total project value of $ 485 million.

By 2020 Almalyk MMC plans to complete the construction of two underground mines based on deposit "Kyzyl Olma" worth 185 million dollars.

The projects will be financed through the company's own funds, banks and loans from the Uzbek Reconstruction and Development Fund of Uzbekistan.

 

 

AUCC

May 8, 2015 

 

INVITATION TO ATTEND

 

2015 U.S.-UZBEKISTAN ANNUAL BUSINESS FORUM 

 

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

 

UZBEKISTAN KEYNOTE SPEAKER:

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

 
US SPEAKERS:

 
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 info@aucconline.com

 

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.    
AGENDA:

 

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 info@aucconline.com 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. 
 
Sincerely,

 

The American-Uzbekistan Chamber of Commerce
202-509-3744
 

 


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

www.aucconline.com