TASHKENT, Dec 30, (Asia Free Press): The first ever meeting of Council of the Uzbek-Kyrgyz Development Fund was held on Wednesday in a video-conference under chairmanship of Uzbekistan’s Deputy Prime Minister and Minister of Investments and Foreign Trade Sardor Umurzakov.
Issues related to organisation of practical work of the Fund and financing of promising investment projects, were discussed by the said council, Ministry of Investments and Foreign Trade of Uzbekistan said in a statement.
The organisational structure, budget, internal regulations defining the order of work, investment, crediting and accounting policies of the Fund were approved during this meeting.
The priority task of the Fund is financing of investment projects aimed at launch of joint production in agriculture, industry, transport and logistics. Implementation of these projects will facilitate development of industrial cooperation and creation of value-added chains between Kyrgyz and Uzbek producers, it is said.
Besides, the Republic of Uzbekistan and the Kyrgyz Republic have a very strong bilateral diplomatic relations. Also, Uzbekistan dominates southern Kyrgyzstan both economically and politically, based on the large Uzbek population in that region of Kyrgyzstan and on economic and geographic conditions.
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