Government • 21 June, 2018

Kazakh PM meets with Commissioner for Protection of Entrepreneurs’ Rights of Uzbekistan

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Within the framework of the V Congress of the Atameken NCE, Bakytzhan Sagintayev met with the Commissioner for the Protection of the Rights of Entrepreneurs of Uzbekistan, reports

June 21 the Prime Minister Bakytzhan Sagintayev, within the framework of the fifth Congress of the Atameken National Chamber of Entrepreneurs, held a bilateral meeting with the Representative under the President of the Republic of Uzbekistan for the Protection of Rights and Legal Interests of Business Entities, Dilmurod Kasimov.

At the meeting, topical issues of further cooperation in the sphere of business development and protection of entrepreneurs' rights were considered.

As Bakytzhan Sagintayev noted, the interaction of business circles plays the main role in bilateral trade and economic cooperation. To date, over two thousand joint ventures with Uzbekistan are actively operating in various spheres of the economy.

The trade turnover between the Republic of Kazakhstan and the Republic of Uzbekistan last year amounted to $2 billion, which is 31.2% higher compared to 2016. Exports from Kazakhstan to Uzbekistan in 2017 grew by 35% to $1.3 billion. In January-March alone the commodity turnover amounted to 543.109.2 million tenge.

The participants of the meeting noted that the agreement on cooperation on protection of rights and legitimate interests of business entities between Kazakhstan and Uzbekistan, signed June 20, 2012, will positively affect the development of entrepreneurship in both countries.

The Agreement provides for the exchange of experience and information on the protection of the rights of entrepreneurs, assistance in resolving issues aimed at protecting, restoring rights and legitimate interests of business. The importance of investment for the development of business interaction was noted. Over the past year, two major business forums have been held, and commercial agreements worth more than $1 billion have been signed. In May this year, another business forum was held with the participation of more than 600 entrepreneurs of the two countries, following which bilateral agreements worth $62 million were signed.

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