The Third session of the Uzbek-Italian Interstate working group on trade, economic and industrial cooperation and export credits met in Tashkent on 13 November.

The representatives of ministries and departments, companies and firms of two states participated at the meeting, UzA reported.

Mr Juraev, deputy minister of foreign economic relations, investments and trade of Uzbekistan, said the relation between two states is developing successfully in many spheres, including trade-economic and humanitarian.

The report said the trade turnover between two states made up US$42.2 million in January-September. It added the exports of Uzbekistan to Italy grew by 37.2% year-on-year. Some 42 joint ventures with Italian investments work in Uzbekistan and seven Italian companies have their offices in the country.

Milos Budin, deputy foreign trade minister of Italy, said Italy is interested in development of cooperation with Uzbekistan. Favourable investment climate in Uzbekistan attracts interests of Italian businesses, he said. He added that the aim of Italy is to further expand and strengthen mutual beneficial cooperation in energy, economy, agriculture, textile, food industry, banking-finance sector and tourism.

The session paid attention to issues on expansion of bilateral trade turnover and expansion of the production range of the ventures. The sides considered economic potential of two states and perspectives of the cooperation, as well as issues on further strengthening of bilateral ties.

On the same day, the business forum of Uzbekistan and Italy took place. The business circles of two state participated in the work of the forum, UzA said.

Italian businesses got acquainted with privatization process, reforms in economy, development of private businesses, potential of machinery, oil, mining, food, light industry and other sectors of Uzbekistan.