POLITICS

Uzbek Cotton and Textile Fair to take place in October

The International Uzbek Cotton and Textile Fair will be
held on 17-18 October 2012 in Tashkent, the Ministry for Foreign Economic Relations, Investment and Trade of Uzbekistan said.

The main goal of the fair is further expanding long-term cooperation with international and foreign companies, which specialize in cotton processing and consumers, analyzing trends and developments in global cotton market, familiarizing consumers with peculiarities of the Uzbek cotton and news in cotton production, trade and logistics.

During the Cotton and Textile Fair participants will enjoy an opportunity to sign contracts for Uzbek cotton, set up long-term cooperation in cotton trading, as well as to be familiar with the quality of Uzbek cotton and latest innovations in trade and logistics.
Moreover, during the Cotton Fair “round tables” and bilateral negotiations between Uzbek cotton exporters and consumers will be organized.

The guests of the Cotton Fair will have an opportunity to participate in the cotton trading session on Uzbek commodity exchange. (Source: UzDaily.com)

Uzbekistan and Ireland ink double taxation treaty

Uzbekistan and Ireland signed a convention on avoiding double taxation and preventing evasion from payment of income and property taxes, the press service of the State Tax Committee (STC) of Uzbekistan said.

The document was inked within the visit of the chairperson of STC Botir Parpiev to Dublin. The visit took place on 8-13 July 2012 at invitation of the Ireland Finance Minister. Uzbekistan became the first Central Asian nation, which signed such document with Ireland.

At the signing ceremony, the State Finance Minister of Irland Mr. Brian Hayes said that Ireland is interested in boosting relations with Uzbekistan and the signing of the convention is important step in building agreement base, which will help to development of economic cooperation between two states.

The sides underlined importance of the signed convention for expansion of bilateral investment and trade relations.

After the signing ceremony, the sides held negotiations with participation of delegations of both sides, which was also attended by the representatives of Office of the Revenue Commissioners and Ministry of Foreign Affairs of Ireland.

The Uzbek side provided information on priorities of social-economic development of Uzbekistan and created favourable investment climate, including at Navoi free industrial-economic zone and Angren special industrial zone. The Irish side was also briefed about activities of tax body of Uzbekistan and its cooperation with foreign partners.

ECONOMY

Uzbekistan’s GDP hits 41.686 trln. soums in 1H

The volume of gross domestic product (GDP) of Uzbekistan made up 41.686 trillion soums (official exchange rate 1USD=1896,57 UZS) in January-June 2012, which rose by 8.1% year-on-year, the State Statistics Committee of Uzbekistan said.

The growth of industrial output made up 7% and reached 24.119 trillion soums in the reporting period.

Agricultural output of Uzbekistan rose by 7.1% to 9.821 trillion soums. Investments into fixed capital reached 9.979 trillion soums or grew by 7.6%.

The volume of executed construction works rose by 8,6% to 5.353 trillion soums, the committee said.

In January-June 2012, some 607.6 million tonnes of cargo (+4.8%) and 3.182 billion passengers (+5.1) were transported in Uzbekistan. Freight turnover made up 39.838 billion tonnes-km (+9.3%) and passenger transport – 41.156 billion passengers-km (+7.8%).

Retail trade turnover of Uzbekistan made up 16.468 trillion soums in the first six months of 2012, or grew by 12.5% year-on-year.

The volume of paid services, rendered to population of Uzbekistan in the first half of 2012, made up 6.2 trillion soums. The growth rate made up 16.2%.

Export of Uzbekistan grew by 1.1% and made up US$7.165 billion. The foreign trade surplus made up US$1.2 billion. (Source: UzDaily.com)

Uzbekistan exports automobiles for US$401.8m

Enterprises of machinery industry of Uzbekistan produced goods for 3.749 trillion soums (official exchange rate 1USD=1896,57 UZS) in the first half of 2012, which grew by 8.3% compared to January-June 2011, the information service of the State Property Committee of Uzbekistan said.

In the reporting period, the production of automobiles grew by 2.5% year-on-year, including cars (without special cars) – by 2.4%, and cargo vehicles – by 39.2%. In external market, Uzbekistan sold 58,900 cars with the export volume of US$401.8 million (+7.9% year-on-year).
In the first half of 2012, the large enterprises of Uzbekistan started production of such electronics as microwave ovens, washing machines, vacuum cleaners, etc.

The enterprises of industry also increased production of air conditioners (5.9 times), energy saving lamps (5.2 times), tractor ploughs (2 times), tractor seeders (66.6%), lifts (2.5 times), non-isolated wire for air power lines (3.3 times), winding and enameled wire (30.6%), setters (16%), control cables (64.2%), accumulators (7.4%), electric iron (6.7%), refrigerators and freezers (6.5%). (Source: UzDaily.com)

Uzbekistan produces chemical products for 1.276 trln. soums

Chemistry industry of Uzbekistan produced goods for 1.276 trillion soums (official exchange rate 1USD=1896,57 UZS) in the first half of 2012. The growth rate made up 5.2% year-on-year.

In the reporting period, the industry produced 643,000 tonnes of mineral fertilizers, which grew by 3.2% year-on-year, the State Statistics Committee of Uzbekistan said.

In January-June 2012, Uzbekistan increased production of potash fertilizer by 25.5%, nitric fertilizers – by 0.7% and phosphatic manure – by 3.7%.

The industry also increases output of plant protection products by 12.5% year-on-year. The exports of fertilizers made up US$130.7 million, which grew by 19.1%year-on-year.

Chemistry industry also increased production of carboxymethylcellulose (2.8 times), synthetic washing powder (49.4%), polyethylene (4.1%), synthetic ammonia (4.2%), caustic soda (2.4%), hydrochloric acid (4.8%) and polypropylene bags (15.7%). (Source: UzDaily.com)