BAKU, Azerbaijan, June 19. Uzbekistan and the
United Kingdom discussed expanding cooperation in investment,
capital markets, and infrastructure development.
This was reflected in the statement by the Ministry of Economy
and Finance of Uzbekistan, following the high-level meeting held on
June 18.
The talks were led by Jamshid Kuchkarov, Uzbekistan’s Deputy
Prime Minister and Minister of Economy and Finance, and a British
delegation headed by UK Minister of State for Investment Lord Jason
Stockwood.
The meeting was attended by British Ambassador to Uzbekistan
Timothy Smart, UK Export Finance (UKEF) Chief Executive Tim Reid,
London Stock Exchange Group Chief Executive Julia Hoggett, Standard
Chartered Bank Chief Executive for UK, Europe and the Americas Saif
Malik, and other officials.
A key focus of the discussions was the development of
Uzbekistan’s capital market and the expansion of cooperation with
the London Stock Exchange. The parties exchanged views on
Uzbekistan’s participation in international capital markets, the
issuance of sovereign and corporate securities, and the
continuation of privatization efforts, including initial public
offerings (IPOs) of state-owned enterprises.
The talks also covered cooperation in urban planning, regional
development, and master plan preparation. It was noted that
projects involving British companies are contributing to the
introduction of modern urban planning practices, the development of
sustainable infrastructure, and the creation of more comfortable
living environments across Uzbekistan.
Another important topic was the expansion of collaboration with
UK Export Finance (UKEF). The parties discussed opportunities to
make greater use of UKEF financing instruments, accelerate the
preparation of joint projects, and strengthen coordination between
relevant government agencies and institutions.
In addition, discussions with Standard Chartered Bank focused on
supporting Uzbekistan’s access to international capital markets,
sovereign bond issuances, improvements to capital market
regulations, and efforts to attract foreign investment.
The meeting reflects the deepening economic relationship between
Uzbekistan and the United Kingdom as Tashkent continues to pursue
market reforms, expand privatization programs, and seek greater
integration with global financial markets. British financial
institutions and development partners have become increasingly
involved in supporting the country's efforts to modernize its
economy and attract international capital.
At the conclusion of the talks, both sides agreed to continue
constructive dialogue aimed at expanding investment, financial, and
infrastructure cooperation, accelerating ongoing initiatives, and
developing new joint projects.
