Council for Foreign Investors of Uzbekistan Signs Agreement with EUROUZ

Uzbekistan and Turkey have concluded a number of bilateral agreements aimed at strengthening long-term partnership, as well as expanding trade and economic interaction between the two states.

The signing of the documents took place following meetings between the heads of state of Uzbekistan, Shavkat Mirziyoyev, and Turkey, Recep Tayyip Erdoğan, in Ankara.

The presidents of the two countries signed an agreement on the creation of a High Council for Business Support, which is intended to promote the development of business ties between Uzbekistan and Turkey.

In addition, the parties agreed on a package of documents covering various areas of bilateral cooperation. These include a protocol expanding the list of goods covered by the preferential trade agreement, as well as an intergovernmental agreement on social protection and an administrative agreement regulating its application.

An additional protocol was also signed, which amends the protocol of March 29, 2022, regarding the preliminary exchange of information on the movement of goods and vehicles across state borders.

These agreements are designed to further increase economic and trade ties, create more favorable conditions for entrepreneurs, and ensure effective protection of the social rights of citizens of Uzbekistan and Turkey.

The Deposit Guarantee Agency of Uzbekistan and the Italian Fund for the Protection of Bank Deposits (FITD) signed a memorandum of understanding. The goal of this agreement is to strengthen bilateral cooperation in the field of depositor protection and improve national deposit guarantee systems.

The signing took place on October 27 in Berlin during the 25th annual general meeting of the International Association of Deposit Insurers (IADI).

Key Provisions of the Agreement

This memorandum establishes a framework for interaction between the two institutions, with a particular focus on protecting depositors' interests and developing deposit insurance mechanisms.

Under the agreement, the parties plan to exchange experience on organizing compensation payments to depositors, as well as improving methods for calculating deposit insurance contributions based on risk levels.

Other areas of cooperation include developing public awareness strategies, exchanging experience in investment policy, and studying mechanisms for intervening in banking operations.

According to the Deposit Guarantee Agency of Uzbekistan, this memorandum is intended to expand international cooperation and facilitate the study of foreign experience in deposit insurance. Furthermore, the agency noted that the partnership will help further improve Uzbekistan's national deposit guarantee system.

The Uzbekistan Fund for the Development of Culture and Arts and the Parisian Centre Pompidou have signed an agreement on cooperation to establish a long-term partnership and organize an exhibition dedicated to Uzbek art and culture.

The signing took place in Paris on October 21 following a meeting between Gayane Umerova, the fund's chairperson, and Laurent Le Bon, President of Centre Pompidou.

According to the terms of the agreement, the parties intend to hold an exhibition at Centre Pompidou to introduce the international audience to the art and culture of Uzbekistan.

Centre Pompidou is a leading global institution specializing in modern and contemporary art and possesses an extensive collection of works from the 20th and 21st centuries.

This partnership is part of broader efforts to strengthen Uzbekistan's international cultural ties, which are being promoted under the initiative of President Shavkat Mirziyoyev.