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Foreign minister Urmas Paet: we wish to improve Estonian entrepreneurs’ opportunities in Central Asia

31.03.2014

Foreign minister Urmas Paet who is on a visit to Uzbekistan with an Estonian business delegation, said today in opening the Estonian-Uzbek business seminar and introducing our businesses in Tashkent, that the goal is to find new ideas to increase the volume of trade between the two countries and to establish direct contacts to develop economic relations between businesses.

"We see transport and logistics, as well as oil shale and the timber industry, as possible cooperation fields, but also information technology solutions and the food industry," Paet said. "Estonia is offering a stable economic environment and trustworthy, top-quality and competitive conditions, which are necessary for ensuring regular product flow," he added.

In 2013, Uzbekistan was 61st among Estonia's trading partners and trade turnover amounted to 10 million euros, of which the majority or 9,9 million euros, was from export. At the end of 2013, the volume of Uzbek direct investments into Estonia totalled 3.2 million euros.

Paet reiterated that the agreement on the avoidance of double taxation between Estonia and Uzbekistan came into force at the end of last year. "We hope to sign an agreement on the protection of investments as soon as possible and are also ready to enter into an international trucking agreement," Paet said at a meeting with Uzbekistan's Minister of Foreign Economic Affairs, Investments and Trade Elyor Ganijev in Tashkent.

In Paet's view, Uzbeskitan's integration with the World Trade Organization (WTO) is important and would positively affect the economic development of the country. "We are ready to share our experiences of joining the WTO with Uzbekistan," Paet said during his meeting with Ganijev.

Representatives of the following Estonian businesses are accompanying foreign minister Paet on his visit to Uzbekistan: the Port of Tallinn; EVR Cargo Ltd., which is Estonia's largest and the oldest railway freight company; Andmevara Ltd., which deals with registries, databases and information systems development, as well as the development of integrated IT solutions; alcohol producer Liviko Ltd.; Repo Vabrikud Ltd., which manufactures components for the furniture industry (veneer, plywood, panels and boards); FE Metal Works LLC, which manufactures metal constructions for mechanical engineering and building; Morbela LLC, which supplies Mobil lubricants for vehicles; real estate firm Port Arthur Group LLC and Neiser Group LLC, in furniture sales.

Members of the Estonian Chamber of Commerce and Industry and Enterprise Estonia are also part of the delegation.

Foreign minister Paet will also meet with Uzbekistan's Foreign Minister Abdulaziz Kamilov in Tashkent.


PRESS DEPARTMENT
press@mfa.ee
www.vm.ee

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