BAKU, Azerbaijan, May 3.Uzbekistan and Germany have concluded a package of agreements worth about $9 billion for the implementation of projects in various fields, Trend reports citing the press service of Uzbek president Shavkat Mirziyoyev.
The relevant documents were signed during the Uzbek-German business forum held in Germany's capital Berlin, on May 2.
The newly signed agreements are aimed at straightening cooperation in the fields of green energy, mining, chemical, pharmaceutical, modernization of transport infrastructure, digitalization of agriculture, innovation, as well as trade.
During the forum, to support the projects of German companies in Uzbekistan was reached an agreement on a full-scale partnership of Uzbekistan with KfW Bank, Deutsche Bank, and the German Society for International Cooperation.
Meanwhile, the volume of German investments in the economy of Uzbekistan has reached $5.5 billion, of which $4 billion have been attracted over the past few years.
At the same time, the countries note positive dynamics in trade relations as well.
According to the latest data from Uzbekistan’s State Statistics Committee, Uzbekistan and Germany increased the bilateral trade turnover by more than 1.7 times from January through March 2023, compared to the same period of 2022, from $384.2 million up to $674.2 million. Uzbekistan’s imports from Germany amounted to $654.6 million, while exports – were $19.7 million.
In 2022, trade turnover between Uzbekistan and Germany amounted to $1.1 billion, increasing by 51.4 percent, compared to the figure for 2021 ($765.7 million).