Business | Economy

UAE signs economic and financial agreements with Uzbekistan

he UAE and Uzbekistan signed a series of agreements and memorandums of understanding (MoUs) here on Monday.

  • By Ahmed A. ElewaSenior, Business Reporter
  • Published: 00:41 March 18, 2008
  • Gulf News

Abu Dhabi: The UAE and Uzbekistan signed a series of agreements and memorandums of understanding (MoUs) here on Monday.

The two sides signed two agreements In the economic and financial fields. The first, related to cooperation in economic and commercial activities, was signed by Shaikha Lubna Al Qasimi, UAE Minister of Foreign Trade, and Rustom Azimov, Uzbekistan's Deputy Prime Minister and Minister of Finance.

The second agreement related to cooperation in financial and investment issues was signed by Obaid Humaid Al Tayer, UAE Minister of State for Financial Affairs, and Ganiev Elyar, Uzbek Minister of Foreign Economic Relations.

"The agreement we have signed paves the way to enhance the economic and commercial ties between the two countries," Khalid Ganim Al Gaith, undersecretary in the Ministry of Foreign Trade, said.

"The cooperation extends to investment, industry, scientific research, Information Technology (IT), telecommunication, agriculture, transport, and tourism, with the objective to open up investment opportunities for the two countries," he added.

"The agreement also establishes a mutual cooperation committee to follow up the implementation of these guidelines, and explore the opportunities for investment and trade, and the ways of enhancing the economic relations," Al Gaith said.

The Emirates Securities and Commodities Authority also signed a Memorandum of Understanding with the Uzbek stock market authority represented by Azimov.

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