A roundtable meeting on "Improvement of the institutional system for export promotion: possibilities and prospects of establishing Eximbank in Uzbekistan" was held on 19 September at Grand Orzu Hotel in Tashkent.

Within the frame of the "Developing the potential and strengthening the institutions for assisting foreign trade and attracting investments to Uzbekistan" Project run by the Ministry of Foreign Economic Relations, Investments and Trade, the UNDP is providing support to the Government of Uzbekistan in strengthening the institutional and regulative environment for further development of foreign trade and strengthening its contribution to sustainable economic growth and improved livelihood of people.

For the purpose of improving the institutional system of export promotion, the project team is developing analytical recommendations relating to the prospects and practical aspects of establishing an export and import bank in Uzbekistan, which would stimulate the country’s export with a high value added through integration of a special set of export financing instruments.

To achieve consensus on the main issues concerning the establishment of export and import bank (Eximbank), the project is actively involving all concerned parties - both in the public and private sector – in the development and discussion of the analytical report. The project’s experts are also examining all the available analytical materials and world best practices and international experience to prevent any mistakes or shortcomings in the foundation and functioning of the Eximbank of Uzbekistan.

Thus, on 15-19 May 2007, the project’s consultants and the representatives of the Ministries and agencies of Uzbekistan went on an introductory trip to the Czech Republic, which has successfully developed and integrated an effective institutional and regulative system of supporting and financing exports.

During the roundtable, a presentation of the report was followed by the discussion of the main conclusions concerning the possibilities and prospects of establishing an Eximbank of Uzbekistan, the international experience in supporting export through the mechanisms and schemes of export financing through eximbanks, and the organizational and legal issues relating to the establishment and functioning of the Eximbank of Uzbekistan.

The representative of the Cabinet of Ministers, the Ministry of Foreign Economic Relations, Investment and Trade, the Ministry of Finance, the Ministry of Economy, the Reconstruction and Development Fund, the Central and the National Banks of Uzbekistan, UzbekInvest Export and Import Insurance Company, the Chamber of Industry and Commerce, and exporting trade companies participated in the meeting.