American-Uzbekistan Chamber of Commerce

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Russia, Uzbekistan agree on cooperation in military-technical area, culture, sports, trade
April 26, 2016

Russia and Uzbekistan have signed an agreement on cooperation in the military and technical sphere, culture, sports and trade. A total of five documents have been signed following Tuesday's talks between the two countries' presidents Vladimir Putin and Islam Kairmov in the Kremlin.
Director of the Russian Federal Service for Military-Technical Cooperation Alexander Fomin and Uzbekistan's Minister of Foreign Economic Relations, Investment and Trade Elyor Ganiev signed an intergovernmental agreement "on cooperation in exporting military goods to third countries."
Russian Foreign Minister Sergey Lavrov put his signature, on behalf of the Russian side, to a cooperation program between the Russian and Uzbek governments in the cultural and humanitarian area for 2016-2018 and between the two countries' foreign ministries for 2016-2017.
Russia and Uzbekistan have also signed a memorandum on cooperation in physical culture an sports and an agreement on scientific and academic cooperation between the Bauman Moscow State Technical University and the Tashkent Institute of Railway Transport Engineers.

World Bank supports quality improvement for labor force in Uzbekistan
April 29, 2016

The World Bank's Board of Executive Directors on April 27 approved International Development Association credit in the amount of US $42.2 million for the Modernizing Higher Education Project in Uzbekistan. 
The Project will support Uzbekistan in achieving its ambitious goal to become an industrialized high-middle income country by mid-century. This transformation will require the development of a highly skilled workforce that can use its entrepreneurial talent to improve the competitiveness of the economy and catalyze its modernization, the World Bank said. 
"The Project is well-aligned with the World Bank's twin goals of ending extreme poverty and boosting shared prosperity," said Junghun Cho, World Bank Country Manager for Uzbekistan. "Education is a fundamental building block of human capital, and a high-quality education is linked to poverty reduction, productivity growth and economic development more broadly. The higher education in particular, is critical to the supply of innovative ideas, technology development and adoption, as well as preparation of quality graduates to meet the country's economic development objectives."
The Project aims to strengthen the country's higher education system and to improve both the labor market relevance and the learning environment of selected higher education institutions, thus benefiting not only students and teaching staff of technical institutions and government educational agencies, but also employers and industries working in Uzbekistan.
Ministry of Higher and Specialized Secondary Education will be responsible for the implementation of the Project with the technical support from the World Bank from 2016 to 2023.  
The Project consists of four components that are focused specifically on strengthening higher education management, improving the learning environment in higher education institutions, enhancing the relevance of higher education by establishing a Competitive Academic Innovation Fund in the Ministry of Higher and Specialized Secondary Education that will finance innovative projects, as well as the Project's management, monitoring and evaluation, all of which will support operating expenses, as well as technical assistance and outreach activities.

IMF: Regional Economic Outlook Update Caucasus and Central Asia
April 2016

In 2016, low oil prices and deepening conflicts continue to weigh mightily on the economies of the MENAP region. Oil exporters are facing another year of heavily reduced oil export revenues, and require ongoing fiscal consolidation and reforms to cope with these losses and to diversify their economies away from oil. Oil importers are experiencing uneven and fragile growth, and need to adjust to the challenges of spillovers from their oil-exporting neighbors and the threat from conflicts. In the CCA, growth has hit a two-decade low amid a climate of low commodity prices, especially oil, and the spillovers from the recession in Russia and the slowdown in China.  Read full report here.  

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.
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