May 9, 1998
  1. President Karimov visits Russia May 5-7

  2. Relations with German companies

  3. U.S. business leaders in Tashkent

  4. Indian government delegation visits Uzbekistan

  5. Toyota Chairman in Uzbekistan

  6. Commerce Bank is to open office in Tashkent

  7. Presidential decree

President Karimov visits Moscow May 5-7
    On May 5 President Karimov's official visit to the Russian Federation began. Economic cooperation between Uzbekistan and Russia is broadening. This was confirmed at the talks during the visit of the Russian Prime Minister to Uzbekistan in December. One of the basic conditions of this cooperation is the creation of a strong legal basis between the two countries. The criteria of relations between the two countries was noted in the agreement on basic intergovernmental relations, friendship and cooperation signed in 1992 between Russia and Uzbekistan. It should be noted that after achieving independence, trade, economic and political ties between Uzbekistan and Russia took on a new character. The extent of trade turnover between Uzbekistan and Russia last year was $1.6 billion. Russia is one of Uzbekistan's largest trading partners. In 1997 more than 54% of trade with CIS countries involved Russia. At present there are 350 Uzbek-Russian JVs operating and this number is constantly increasing. In Russia there are almost 100 Uzbek-Russian JVs. Russian entrepreneurs are very interested in Uzbekistan's automotive industry. There are ties with many Russian entrepreneurs in this area. As President Karimov noted, economic advantage is connected with who performs in what market. In this sense, the development of cooperation between Uzbekistan and Russia brings benefit to both sides. There is an effective inter-governmental commission on economic cooperation between Uzbekistan and Russia. In this agreement, in the first half of 1998, contacts between oblasts of Uzbekistan and Russia are to increase, as is the development of cooperation in energy, industry and production. In the second half an inter-governmental information and cultural center will open, and measures for financial cooperation and the widening of ties between entrepreneurs will take place. The present visit of President Karimov brings to a new level cooperation between Uzbekistan and Russia. In Russia there is a new government. In the dialogue between Uzbekistan and Russia these new conditions will attract special attention. On May 7th President of Uzbekistan Islam Karimov completed the state visit to the Russian Federation. There was a confidential talk of the heads of the two countries in the course of the visit. Presidents exchanged opinions of the present state of relations between the states, ways of development of the cooperation, of issues connected with changes in Central Asia and situation in Tajikistan and Afghanistan. The broadened talks were held with the participation of official delegations of the Republic of Uzbekistan and Russian Federation. The talks resulted in signing some documents which will serve the subsequent development of political, economic and cultural contacts between the two countries. In part, the treaty "On the subsequent cooperation in the field of joint making up, cycle production and operation deliveries of the aircrafts IL-76MF and IL-76TF, as well as provision ,of operation and modernization of aircrafts IL-76, IL-78 and their modifications". The document was signed by Presidents Islam Karimov and Boris Yeltsin. Besides Islam Karimov met with Russia's new Prime Minister Sergey Kirienko. He also visited the Russian Plehanov Economic Academy. Last year President Karimov was elected an honorary doctor to the Academy. President Karimov also had a eeting with Moscow's mayor Yuriy Luzhkov.
  Relations with German companies
  The Uzbek-German contacts are widely developed. Today around 600 German firms and companies are functioning in Uzbekistan, Forty of them have their offices here. Some of them are "Deimler-Benz", "Siemens", Alcatel", " Tissen " "Lufthansa " and "Salamander". At present twenty-five projects have been financed with German credits worth 800 million Deutsche marks. Activities of "Deutsche Bank" and "Berliner Bank" are worth-praising in realizing some large investment projects. Such organizations as the Konrad Adenauer and Ebert funds, Goethe institute, "Deutsche Welle" TV and Radio company and Germany-Uzbek friendship society are carrying out significant arrangements.
  U.S. business leaders in Tashkent
  President Karimov received Eugene Bakly, president and executive director of Sikorsky Aircraft and Ruth Harkin, senior vice president of United Technologies on May 4. "We know the potential of Sikorsky Aircraft well," said the President. "During our trip to the USA in 1996, we got acquainted with the activity of this company. I think that your visit opens possibilities for more detailed acquaintance." During the talks, further development of cooperation between Uzbekistan and U.S. companies was discussed. This time Ruth Harkin visited Uzbekistan in a new position. Previously she worked as the president of OPIC, Overseas Private Investment Corporation. Mr. Bakly and Mrs. Harkin also met with Prime Minister Utkir Sultanov.
  Indian government delegation visits Uzbekistan
  A delegation headed by the deputy Minister of Foreign Affairs of India Nareshvar Dail met with Foreign Affairs Minister A. Kamilov. At the meeting, it was noted that an important place in the further development of friendly relations between Uzbekistan and India is occupied by cooperation in international affairs. Cooperation between the two countries was discussed.
  Toyota Chairman in Uzbekistan
  A delegation of the Federation of Economic Organizations of Japan (Keidanren) headed by its chairman and Toyota Corporation chairman Shoichiro Toioda recently visited Uzbekistan. Before leaving Uzbekistan. Mr. Toioda said: "I was deeply impressed from my conversation with President Karimov. I highly evaluate the potential of Uzbekistan and the ongoing reforms. I am convinced that the results achieved by Uzbekistan and its neighbors differ from each other significantly. I am impressed by the culture and national traditions of your people. "It is worth praising the building of the Asaka motor factory in such a short period. Unfortunately, I was not able to go to see it. During my next visit I will certainly go to Asaka." Mr. Toioda said that he would speak with the Japanese Prime Minister about the stable conditions in Uzbekistan and the possibilities to undertake large joint projects.
  Commerce Bank is to open office in Tashkent
  An office of Commerce Bank, one of the largest in Germany is to open in Tashkent soon. The representative office will provide consulting services to clients, provide communications with enterprises, attract clients from Germany and other countries to finance projects here, and inform people about the economy here and the changes in the banking and financial system.
  Presidential decree
  In connection with the 53rd anniversary of victory in World War Two over the German Fascism, President Islam Karimov issued a decree on awarding all the living veterans with 1,500 soums ($17).

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