BAKU, Azerbaijan, June 19. Uzbekistan and
JPMorgan Chase discussed economic reforms, privatization efforts,
and opportunities to expand cooperation with international
financial markets


This was reflected in the statement by the Ministry of Economy
and Finance of Uzbekistan, following a meeting held on June 18.


The talks brought together Maria Glukhovsky, Managing Director
and Global Head of Public Sector at JPMorgan, and Jamshid
Kuchkarov, Uzbekistan’s Deputy Prime Minister and Minister of
Economy and Finance. The meeting was also attended by Timur
Kunanbayev, Managing Director, Senior Country Officer for CIS
countries and Head of Investment Banking at JPMorgan, as well as
officials from Uzbekistan’s Ministry of Economy and Finance.


During the meeting, the parties exchanged views on Uzbekistan’s
ongoing economic reform agenda, including the privatization and
transformation of state-owned enterprises and banks, the
development of the capital market, and efforts to strengthen
engagement with international investors.


"The meeting focused on elevating practical cooperation to a new
level, strengthening effective dialogue with international
financial institutions and investors, and exploring opportunities
to utilize advanced international experience." the ministry
said.







The discussions also focused on reforms aimed at transforming
state-owned banks and enterprises into more efficient, transparent,
and competitive organizations operating on market principles.
Participants reviewed opportunities to attract strategic investors
and accelerate the commercialization of key sectors of the
economy.


Another key topic was the development of Uzbekistan’s capital
market. The parties explored measures to increase market liquidity
and attractiveness, expand the use of modern financial instruments,
improve the country’s sovereign credit ratings, and strengthen
investor confidence.


The meeting comes as Uzbekistan continues to pursue
market-oriented reforms designed to attract foreign investment,
deepen financial sector development, and integrate more closely
with global capital markets.


At the conclusion of the talks, both sides expressed their
commitment to maintaining regular dialogue and further expanding
mutually beneficial cooperation in the areas discussed.