Issue 856 - 09.04.2021
09.04.2021

President of Uzbekistan receives a delegation of the Parliament of South Korea

On 6 April, the President of the Republic of Uzbekistan Shavkat Mirziyoyev received a delegation from the Parliament of the Republic of Korea, headed by the Speaker of the National Assembly Park Byeong-seug.

The representative Korean delegation, in addition to the speaker, included 6 deputies-members of parliamentary committees in priority areas - public administration, financial policy, industry, trade, energy, transport, agriculture, ecology, health care, labor relations, culture, sports and tourism ...

During the conversation, topical issues of the bilateral and regional agenda were considered. The important role of parliaments in strengthening relations of friendship and special strategic partnership between the Republic of Uzbekistan and the Republic of Korea was emphasized.

The head of our state noted with deep satisfaction the ongoing active exchanges and the dynamic development of the Uzbek-Korean full-scale interaction. At the beginning of this year, an online summit of the leaders of the two countries was successfully held.

Park Byeong-seug, expressing deep gratitude for the warm welcome, conveyed to the leader of Uzbekistan sincere greetings and best wishes on behalf of the President of the Republic of Korea Moon Jae-in.

It was noted at the meeting that in the conditions of a difficult global economic situation, the preservation of the volume of mutual trade is ensured. A portfolio of new investment projects worth more than $ 3 billion has been prepared with the participation of leading Korean companies and banks. In general, the volume of investments from the Republic of Korea exceeded US$7 billion.

They also expressed gratitude for the great practical assistance of Korean partners in the fight against the coronavirus pandemic in Uzbekistan.

The speaker and deputies of the National Assembly sincerely thanked the President of Uzbekistan for active efforts to expand multifaceted cooperation between the two countries, as well as strong support for Seoul's efforts to peacefully resolve the situation on the Korean Peninsula, regional initiatives within the framework of the New Northern Policy.

The importance of continuing a close dialogue within the framework of the "Republic of Korea - Central Asia" Cooperation Forum was reaffirmed.

The issues of implementation of joint programs in the field of health care, education, science and culture, humanitarian exchanges were also considered.

By UzDaily

Uzbekistan General

09.04.2021

Uzbekistan and Switzerland launch 12-year project to support vocational education reform

Uzbekistan and Switzerland are launching a 12-year project to support the reform in the vocational education system in the republic. It is aimed at developing students’ knowledge and skills for successful employment.

According to the press service of the Ministry of Higher Education, the project will be implemented in 2021-2033.

At the...

Uzbekistan and Switzerland are launching a 12-year project to support the reform in the vocational education system in the republic. It is aimed at developing students’ knowledge and skills for successful employment.

According to the press service of the Ministry of Higher Education, the project will be implemented in 2021-2033.

At the...

Finance and Investment

09.04.2021

Uzbekistan, Russia agree on $2.2bn new investment projects

The first International Industrial Exhibition Innoprom held in Tashkent saw the signing of 21 agreements worth $128mn. Uzbek and Russian entrepreneurs have initiated 33 projects in the amount of $2.2bn.

More than 1000 Uzbek, and over 300 Russian companies attended the three-day exhibition.

“The Uzbek-Russian economic partnership can be much larger and...

The first International Industrial Exhibition Innoprom held in Tashkent saw the signing of 21 agreements worth $128mn. Uzbek and Russian entrepreneurs have initiated 33 projects in the amount of $2.2bn.

More than 1000 Uzbek, and over 300 Russian companies attended the three-day exhibition.

“The Uzbek-Russian economic partnership can be much larger and...

09.04.2021

E-AUKSION Marketplace updates its online auction system

The new software has simplified a number of procedures on the E-AUKSION website and made the auction system more transparent.

Today E-AUKSION holds online auctions for the sale and implementation of objects in 16 domains.

In 2020, more than 25.5 thousand properties worth 1 trillion 751 billion soum were sold on the...

The new software has simplified a number of procedures on the E-AUKSION website and made the auction system more transparent.

Today E-AUKSION holds online auctions for the sale and implementation of objects in 16 domains.

In 2020, more than 25.5 thousand properties worth 1 trillion 751 billion soum were sold on the...

09.04.2021

Soylik recreation area put up for auction

Now it is not functioning, so the new owner will have to restore it to work.

The Soilik recreation area in Bostanlyks district of Tashkent region was put up for auction.

Here 5.9 hectares of area, of which 3,525 sq. m. occupy buildings and structures. There is electricity and water supply, but...

Now it is not functioning, so the new owner will have to restore it to work.

The Soilik recreation area in Bostanlyks district of Tashkent region was put up for auction.

Here 5.9 hectares of area, of which 3,525 sq. m. occupy buildings and structures. There is electricity and water supply, but...

09.04.2021

Uzbek head of state urges upgrading mid-ranks of managers

On 8 April, a video conference was held under the chairmanship of President Shavkat Mirziyoyev on the priority tasks of developing entrepreneurship in the regions and ensuring employment of the population.

Entrepreneurship is defined as a priority area for the development of the country’s economy and is supported by the state....

On 8 April, a video conference was held under the chairmanship of President Shavkat Mirziyoyev on the priority tasks of developing entrepreneurship in the regions and ensuring employment of the population.

Entrepreneurship is defined as a priority area for the development of the country’s economy and is supported by the state....

09.04.2021

Greenback continues downfall as US bond support falters

The U.S. dollar traded near its lowest in more than two weeks versus major peers on Thursday, tracking Treasury yields lower, after minutes of the Federal Reserve's March policy meeting offered no new catalysts to dictate market direction.

Fed officials remained cautious about the risks of the pandemic - even as...

The U.S. dollar traded near its lowest in more than two weeks versus major peers on Thursday, tracking Treasury yields lower, after minutes of the Federal Reserve's March policy meeting offered no new catalysts to dictate market direction.

Fed officials remained cautious about the risks of the pandemic - even as...

09.04.2021

Stock markets remain bullish on trust in US policy shift

European stocks hit record highs on Thursday on optimism around a global stimulus-led economic rebound after the U.S. Federal Reserve pledged to keep monetary policy loose.

The pan-European STOXX 600 rose 0.5% by 0720 GMT, adding to gains made earlier this week when the index erased all of its pandemic-driven losses.

Miners,...

European stocks hit record highs on Thursday on optimism around a global stimulus-led economic rebound after the U.S. Federal Reserve pledged to keep monetary policy loose.

The pan-European STOXX 600 rose 0.5% by 0720 GMT, adding to gains made earlier this week when the index erased all of its pandemic-driven losses.

Miners,...

09.04.2021

Eurasian Development Bank predicts economic leap in EAEU

The beginning of the mass distribution of vaccines and the gradual departure from restrictions allowed the world countries to think about economic recovery after the coronacrisis of 2020. On March 31, the Eurasian Development Bank presented a macroeconomic review, in which it assessed the recovery trends in the economies of...

The beginning of the mass distribution of vaccines and the gradual departure from restrictions allowed the world countries to think about economic recovery after the coronacrisis of 2020. On March 31, the Eurasian Development Bank presented a macroeconomic review, in which it assessed the recovery trends in the economies of...

Oil and Gas Sector

09.04.2021

Bukhara refinery temporarily suspends work

The Bukhara oil refinery has suspended work for ten days since April 5, the press service of Uzbekneftegaz reported.

The reason is planned repair work.

During these days, it is planned to put in order the technological units of the main production department, Distillation of oil and gas condensate raw materials under...

The Bukhara oil refinery has suspended work for ten days since April 5, the press service of Uzbekneftegaz reported.

The reason is planned repair work.

During these days, it is planned to put in order the technological units of the main production department, Distillation of oil and gas condensate raw materials under...

09.04.2021

Uzbekneftegaz inks memorandum of understanding with Sovsombank

The Innoprom International Industrial Exhibition: The Great Industrial Week in Uzbekistan in Tashkent has become a successful platform for establishing relations between Uzbekneftegaz JSC and Russian financial institutions.

Thus, the result of the negotiations with PJSC Sovkombank was the signing of a Memorandum of Understanding.

The purpose of the Memorandum is to...

The Innoprom International Industrial Exhibition: The Great Industrial Week in Uzbekistan in Tashkent has become a successful platform for establishing relations between Uzbekneftegaz JSC and Russian financial institutions.

Thus, the result of the negotiations with PJSC Sovkombank was the signing of a Memorandum of Understanding.

The purpose of the Memorandum is to...

09.04.2021

Brent dips below $63/b, US petrol glut blamed

Oil prices fell on Thursday after official figures showed a big increase in U.S. gasoline stocks, causing concerns about demand for crude weakening in the world’s biggest consumer of the resource at a time when supplies around the world are rising.

Brent crude eased 36 cents, or 0.6%, to $62.80 a...

Oil prices fell on Thursday after official figures showed a big increase in U.S. gasoline stocks, causing concerns about demand for crude weakening in the world’s biggest consumer of the resource at a time when supplies around the world are rising.

Brent crude eased 36 cents, or 0.6%, to $62.80 a...

09.04.2021

North Sea natural gas prices hold position as supply nears demand

British wholesale gas prices firmed as cold weather continued to support demand and Norwegian supplies to Britain were slightly lower.

The day-ahead contract was up 0.85 pence at 53.80 p/therm by 1002 GMT.  The within-day contract was flat at 54.50 p/therm.

Lower Norwegian imports to Britain via the Vesterled pipeline and firm...

British wholesale gas prices firmed as cold weather continued to support demand and Norwegian supplies to Britain were slightly lower.

The day-ahead contract was up 0.85 pence at 53.80 p/therm by 1002 GMT.  The within-day contract was flat at 54.50 p/therm.

Lower Norwegian imports to Britain via the Vesterled pipeline and firm...

Trade and Consumer Goods

09.04.2021

Head of Ministry of Trade of Turkey promises to increase trade turnover with Uzbekistan more than twofold

Turkish Trade Minister Rukhsar Pekcan, during a meeting with her counterpart, Deputy Prime Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov, said that the parties are ready to increase trade turnover to $5 billion.

Rukhsar Pekjan recalled that the volume of trade between the country is currently about $2...

Turkish Trade Minister Rukhsar Pekcan, during a meeting with her counterpart, Deputy Prime Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov, said that the parties are ready to increase trade turnover to $5 billion.

Rukhsar Pekjan recalled that the volume of trade between the country is currently about $2...

Agriculture

09.04.2021

FAO and Uzbekistan sign agreement guiding collaboration on food and agriculture through to 2025

A roundtable meeting marked the official launch of the FAO–Uzbekistan Country Programming Framework (CPF), covering the period 2021–2025 and giving impetus and further guidance to their partnership. In line with national sustainability priorities, FAO signed up to support the Government in implementing the 2030 Agenda and help Uzbekistan achieve sustainable...

A roundtable meeting marked the official launch of the FAO–Uzbekistan Country Programming Framework (CPF), covering the period 2021–2025 and giving impetus and further guidance to their partnership. In line with national sustainability priorities, FAO signed up to support the Government in implementing the 2030 Agenda and help Uzbekistan achieve sustainable...

09.04.2021

US wheat contracts appreciate on renewed drought concerns

Chicago wheat futures gained more ground on Thursday as dry weather in several U.S. spring wheat growing regions raised concerns over planting delays and global supplies.

Soybeans fell for a second session while corn slid after closing higher.

"Dry weather is an issue for spring wheat in the U.S. but we have...

Chicago wheat futures gained more ground on Thursday as dry weather in several U.S. spring wheat growing regions raised concerns over planting delays and global supplies.

Soybeans fell for a second session while corn slid after closing higher.

"Dry weather is an issue for spring wheat in the U.S. but we have...

Metals and Minerals

09.04.2021

Bullion, silver gain on depreciating US dollar, other precious metals down

Gold prices rose on Thursday, as yields on longer-term U.S. Treasuries dropped along with the dollar after the Federal Reserve in its latest policy meeting minutes reinforced expectations that interest rates would remain low for some time.

Spot gold gained 0.3% at $1,741.85 per ounce by 0927 GMT. U.S. 

Gold prices rose on Thursday, as yields on longer-term U.S. Treasuries dropped along with the dollar after the Federal Reserve in its latest policy meeting minutes reinforced expectations that interest rates would remain low for some time.

Spot gold gained 0.3% at $1,741.85 per ounce by 0927 GMT. U.S. gold futures rose...

09.04.2021

Copper leads overall base metals appreciation

Copper prices climbed on Thursday as concern about available supplies and a lower dollar reinforced bullish sentiment, but rising inventories capped gains as the market awaited trade data from top consumer China.

Benchmark copper on the London Metal Exchange (LME) was up 1% at $9,004 a tonne by 1230 GMT. Prices...

Copper prices climbed on Thursday as concern about available supplies and a lower dollar reinforced bullish sentiment, but rising inventories capped gains as the market awaited trade data from top consumer China.

Benchmark copper on the London Metal Exchange (LME) was up 1% at $9,004 a tonne by 1230 GMT. Prices...

Manufacturing industry

09.04.2021

Entrepreneurs should have no problems with energy supply and infrastructure in Uzbekistan

Shavkat Mirziyoyev instructed responsible persons to take measures so that entrepreneurs would not have problems with infrastructure and energy supply in industrial zones this year. The business ombudsman is responsible for monitoring the execution of the order. “Kasimov, you must report the perpetrators: who should be fined and who should...

Shavkat Mirziyoyev instructed responsible persons to take measures so that entrepreneurs would not have problems with infrastructure and energy supply in industrial zones this year. The business ombudsman is responsible for monitoring the execution of the order. “Kasimov, you must report the perpetrators: who should be fined and who should...

09.04.2021

New KNAUF plant reduces cost of logistics for building materials in Fergana Valley

At the end of 2021, Knauf will launch a plant for the production of dry gypsum mixtures and gypsum boards in the Fergana Valley.

The international group of companies Knauf has been operating in the Uzbek market for over 20 years. Plaster, putty and gypsum boards are produced according to German...

At the end of 2021, Knauf will launch a plant for the production of dry gypsum mixtures and gypsum boards in the Fergana Valley.

The international group of companies Knauf has been operating in the Uzbek market for over 20 years. Plaster, putty and gypsum boards are produced according to German...

09.04.2021

Uzbekistan steps up acquisition of technologies to upgrade industries

International cooperation plays an important role in the development of many industries. The introduction of foreign technologies into the field, attraction of international experience and specialists helps to achieve good results in the planned work. This was reported by the press service of Uzsuvtaminot.

Uzsuvtaminot in its daily activities pays special...

International cooperation plays an important role in the development of many industries. The introduction of foreign technologies into the field, attraction of international experience and specialists helps to achieve good results in the planned work. This was reported by the press service of Uzsuvtaminot.

Uzsuvtaminot in its daily activities pays special...

Communications and Transportation

09.04.2021

All-season resort and tourist complex to appear in Zaamin, Uzbekistan

President Shavkat Mirziyoyev signed a decree on the creation of a tourist and recreational zone Zomin and an international all-season resort.

According to the document, hotels, cultural and recreational, shopping and entertainment and other facilities will be built on the territory of the zone. The all-season resort Plateau Suffa.2400 and the...

President Shavkat Mirziyoyev signed a decree on the creation of a tourist and recreational zone Zomin and an international all-season resort.

According to the document, hotels, cultural and recreational, shopping and entertainment and other facilities will be built on the territory of the zone. The all-season resort Plateau Suffa.2400 and the...

Regional News

09.04.2021

Russia's reserves fell at record since 2018

March brought the Bank of Russia a record reduction since 2018 in its gold and foreign exchange reserves. Despite the fact that the Central Bank buys foreign currency every day to replenish the National Wealth Fund and last month added $2 billion to the fund, the gold and foreign exchange...

March brought the Bank of Russia a record reduction since 2018 in its gold and foreign exchange reserves. Despite the fact that the Central Bank buys foreign currency every day to replenish the National Wealth Fund and last month added $2 billion to the fund, the gold and foreign exchange...

09.04.2021

Inflation in Russia becomes total

Inflation in Russia at the end of March reached a new record since the end of 2016, Rosstat reported on Tuesday. The consumer price index rose 5.8% yoy after 5.7% in February and more than doubled the figure for the same month in 2020.

For the first time in a year,...

Inflation in Russia at the end of March reached a new record since the end of 2016, Rosstat reported on Tuesday. The consumer price index rose 5.8% yoy after 5.7% in February and more than doubled the figure for the same month in 2020.

For the first time in a year,...

09.04.2021

Russian equity, currency regain earlier losses

The Russian rouble recovered slightly on Thursday, holding near the 77-mark against the dollar, after hitting a five-month low in the previous session amid renewed tensions between Moscow and the Westover Ukraine and other issues.

Largely ignoring a decline in the price of oil, Russia's key export, the rouble was 0.2% stronger at 76.80 against the dollar at 0702 GMT,...

The Russian rouble recovered slightly on Thursday, holding near the 77-mark against the dollar, after hitting a five-month low in the previous session amid renewed tensions between Moscow and the Westover Ukraine and other issues.

Largely ignoring a decline in the price of oil, Russia's key export, the rouble was 0.2% stronger at 76.80 against the dollar at 0702 GMT,...

09.04.2021

Russia, China and expansion of a new order

A new order is expanding, and Russia and China are successfully challenging Western democracies. How does the United States view these challenges, what is the rivalry in the Arctic, how China continues to strengthen its position in such illiberal countries as Iran or Central Asian countries.

The most important challenges to...

A new order is expanding, and Russia and China are successfully challenging Western democracies. How does the United States view these challenges, what is the rivalry in the Arctic, how China continues to strengthen its position in such illiberal countries as Iran or Central Asian countries.

The most important challenges to...

09.04.2021

Chinese equity, currency markets veer up as bug busters score

China shares closed higher on Thursday, with healthcare shares leading the gains as the country ramped up vaccination efforts amid the emergence of a new cluster of infections. At the close, the Shanghai Composite index was up 0.08% at 3,482.55. The blue-chip CSI300 index was up 0.17%, with its healthcare...

China shares closed higher on Thursday, with healthcare shares leading the gains as the country ramped up vaccination efforts amid the emergence of a new cluster of infections. At the close, the Shanghai Composite index was up 0.08% at 3,482.55. The blue-chip CSI300 index was up 0.17%, with its healthcare...

09.04.2021

China makes fiscal moves to cut risks, spur growth

China's fiscal measures will focus on balancing economic growth and preventing risks, with an eye on enhancing fiscal sustainability over the medium term, senior officials from the Ministry of Finance said on Wednesday.

Fiscal policy will be enhanced to stabilize economic growth, with a focus on countercyclical adjustments. At the same...

China's fiscal measures will focus on balancing economic growth and preventing risks, with an eye on enhancing fiscal sustainability over the medium term, senior officials from the Ministry of Finance said on Wednesday.

Fiscal policy will be enhanced to stabilize economic growth, with a focus on countercyclical adjustments. At the same...

Prices and Statistics

09.04.2021

Commodities

Date: April 09, 2021;Source: Bloomberg.com

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Date: April 09, 2021;Source: Bloomberg.com

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09.04.2021

Exchange Rates

Date: April 09, 2021; Source: the Central Bank of Uzbekistan
1 US DOLLAR USD / UZS 10473.07
1 EURO EUR / UZS 12426.30
1 RUSSIAN ROUBLE RUB / UZS 135.81
1 GREAT BRITIAN POUND GBP / UZS  14391.05
1 KAZAKHSTAN TENGE KZT / UZS 24.16

Date: April 09, 2021; Source: the Central Bank of Uzbekistan

1 US DOLLAR

USD / UZS

10473.07

1 EURO

EUR / UZS

12426.30

1 RUSSIAN ROUBLE

RUB / UZS

135.81

1 GREAT BRITIAN POUND

GBP / UZS

 14391.05

1 KAZAKHSTAN TENGE

KZT / UZS

24.16