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Uzbekistan, Oman to hold intergovernmental commission meeting

Oman-Uzbek Economic Cooperation

Share on Facebook September 9, 2014, Reporter : Trend, Reader : 592

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Tashkent, Uzbekistan, Sept. 8 By Demir Azizov- Trend: The second session of the Uzbek-Omani intergovernmental commission for economic cooperation will be held Sept. 2014 in Muscat, Oman Embassy in Uzbekistan told Trend.

Business forum of entrepreneurs of Oman and Uzbekistan will also be held within the framework of the meeting of the intergovernmental commission, where it is planned to discuss the issues of investment cooperation.

In particular, it is planned to consider the possibility of establishing of a number of joint ventures in various sectors of the economy and, above all, within the framework of the project on creation of Uzbekistan-Turkmenistan-Iran-Oman transport corridor.

The first session of the Uzbek-Omani intergovernmental commission on economic cooperation and business forum of business circles took place in March 2013.

At the time the sides discussed specific areas of joint projects in the sphere of economy, investment, trade, logistics, small business and private entrepreneurship, motor-car construction and agriculture.

In particular, the opportunities of Uzbekistan's Navoi free industrial economic zone and the Angren free industrial zone were of special interest for Omani entrepreneurs.

During the business forum a preliminary agreement on the allocation of $100 million by UzOmanCapital in 2013 for the implementation of joint projects in Uzbekistan in the field of textile, electrical engineering, construction materials, the total project cost of which is about $300 million.

At present, a solid legal basis for bilateral cooperation, including inter-governmental agreements on avoidance of double taxation and prevention of tax evasion on income and capital, on encouragement and mutual protection of investments is formed between Uzbekistan and Oman.

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