His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, returned home yesterday after a two-day official visit to Uzbekistan.

Earlier, Shaikh Mohammad had held talks with Uzbek Prime Minister Shavkat Mirziyayev on various political and economic issues. They discussed relations between the UAE and Uzbekistan and ways to enhance them in various spheres.

Mirziyayev expressed his hope the visit would contribute to bringing the relations between the two countries to the highest levels for the benefit of the two nations and their people.

Following the talks, Shaikh Mohammad and Mirziyayev attended the signing ceremonies of a number of cooperation agreements that pave the way for further economic and investment cooperation.

The agreements were signed in the presence of Shaikh Mohammad and the Uzbek Premier. The first agreement provides for encouragement and protection of mutual investments by creating encouraging conditions and an adequate and proper atmosphere for investment and capital movement between the two countries.
The agreement was signed by Dr Mohammad Khalfan Bin Kharbash, Minister of State for Financial and Industrial Affairs, and Ganiev Elyor Majidovich, Uzbek Minister for Foreign Economic Relations, Investments and Trade.

A double taxation waiver agreement was also signed between the two countries. According to the agreement, government institutions and national carriers of both countries will be exempted from income taxes.

The agreement also fixed a five per cent reduction on revenue tax on the share profits of Emirati and Uzbek citizens.

A memorandum of understanding on political consultations between the foreign ministries of both countries was also signed by Mohammad Hussain Al Sha’ali, Minister of State for Foreign Affairs, and Uzbek Deputy Foreign Minister Shah Azim.

Shaikh Mohammad and Mirziyayev exchanged traditional mementoes.