President of Uzbekistan Islam Karimov on 26 October at his Oksaroy residence received Vice-President and Prime Minister of the United Arabic Emirates (UAE) and Ruler of Dubai Shaikh Mohammad Bin Rashid Al Maktoum, UzA reported.

Welcoming the guest, the Uzbek leader noted that the similarity of views of the two sides at many international political issues, and the consequently expanding scales of economic ties were the evidence of all-round development of mutual cooperation, and that Uzbekistan paid special attention to the relations with the United Arabic Emirates.

The volume of commodity turnover between Uzbekistan and the UAE made up US$112.4 million in 2006. Uzbekistan exports to the UAE mainly non-ferrous metals, silk, fabrics, carries out air transportation of cargoes and passengers. The UAE in their turn import rubber, garments, household electronic appliances, building materials, furniture and vehicles.

66 joint ventures are operating in Uzbekistan with the UAE investments. Almost half of them have been created with the 100% capital from the UAE enterprises. Uzbekistan and the UAE have vast experience of activity in the oil and gas industry, petrochemistry and have capacities to develop cooperation in these spheres.

During the meeting at Oksaroy residence Shaikh Mohammad Bin Rashid Al Maktoum thanked the President of Uzbekistan for warm reception, noted that the UAE support expansion of wide scale collaboration with Uzbekistan that plays important role in the development of Islamic civilization and has huge economic potential.

During the talks, the sides exchanged opinions on the issues of further strengthening cooperation between the Republic of Uzbekistan and the United Arabic Emirates, as well as full use of available capacities.