Uzbekistan signs currency swap deal with China

The People's Bank of China has signed a 700-million-yuan ($106 million) currency swap agreement with the Central Bank of the Republic of Uzbekistan.

The agreement will last for three years and is extendable by mutual consent, according to a statement posted on the PBOC website.

The swap is aimed at promoting bilateral trade, investment and financial cooperation, it said.

The PBOC said Monday that it had signed a 25-billion-yuan currency swap agreement with the Reserve Bank of New Zealand.

Since the onset of the world financial crisis in late 2008, China has also signed currency swap agreements with the Republic of Korea (ROK), Malaysia, Belarus, Indonesia, Argentina, Iceland and Singapore.

The central bank also signed a similar agreement with Hong Kong's monetary authority.

Analysts said the move would encourage traders to invest in the local currency as part of China's efforts to promote cross-border trade settlements in yuan, China's national currency.

By China Daily

Uzbekistan born Nigerian striker targeted fifteen goals in English Premier League

Nigeria striker Peter Odemwingie has targeted a goal tally of fifteen this season for English Premier League club West Brom.

Odemwingie scored his 11th goal in the league in the 3-2 win over Sunderland at the weekend and has now set his sights on a personal record after equalling the club’s mark set by Robert Earnshaw in the 2004-05 season.

"My target is still to beat my best season of fourteen goals. With six games to go still, it is possible to get to the fifteen mark," Odemwingie said to the BBC.

Even though he is in his first season with the Baggies, Odemwingie, a Uzbekistan-born striker has set himself up for legendary status after equalling Earnshaw’s haul. And his performance this season has generated speculation that Juventus could be after his signature.

West Brom lie in a dangerous position in the league table and Odemwingie hopes he can score more goals to help keep his side in the top flight. 

Uzbekistan-China ties will continue to expand

Uzbekistan and China has witnessed consistent development of trade-economic and investment cooperation. Since first years of its independence, Uzbekistan has been developing relations with China.

The amicable ties based on mutual trust, is expected to evolve in the same spirit for the welfare of the two nations, Uzreport.com reported. Both countries have signed 170 documents covering various spheres of bilateral relations.

It was recalled that during the state visit of President Islam Karimov to China in 2005, an Interstate agreement on partnership relations, friendship and cooperation was signed.

The agreement further enhanced mutual cooperation.
Over the last period, a large number of summits and visits of various delegations have been held. The issue of overcoming the ramifications of the global financial crisis was an important aspects of the interstate cooperation. As a result, Uzbekistan and China are paying special emphasis on expanding trade-economic, investment and financial cooperation.

China is also the leading investor in Uzbekistan and second among Uzbekistan’s trade partners.
Last year the volume of bilateral trade amounted to €2.85 billion. Around 347 Chinese firms have invested in Uzbekistan.

Beeline Uzbekistan new service for corporate clients

Beeline Uzbekistan - a leading mobile operator has launched the Permanent PIN-Code service for its corporate subscribers.

Subscribers are offered a PIN code enabling to access DLD/ILD services using any fixed or mobile telephone across the country.

Calls cost US$0.03 per minute withn the country and US$0.14 to Central Asia and the CIS countries. The rate for calls to Europe is US$0.38 per minute. The activation fee for the service is US$20.

Number of plastic cards in circulation nears 8 million in Uzbekistan

Uzbekistan is undertaking active measures on the development of the system of cashless settlements. The number of plastic cards currently in circulation has exceeded 7.9 million and the number of ATMs and terminals in trading points comprised 86,100.

These figures were cited at the expanded meeting of the Board of the Central Bank of Uzbekistan to sum up results of banking system activity in the first quarter of 2011 and discuss priority tasks set before the banking system by the President Islam Karimov at the governmental session on 15 April 2011.

Pakistan seeks agreement to boost trade with Uzbekistan

Uzbekistan, Afghanistan and Pakistan will soon sign a Trilateral Transit Trade and Transportation Agreement (TTTTA) to ensure smooth trade of goods.

Afghanistan will be given transit fee if it ensures smooth supply of goods, said Mohammad Waheed-ul-Hasan, Pakistan's ambassador in Tashkent in an interview with The News.

During the recent visit of Prime Minister Yousaf Raza Gillani to Uzbekistan, Islamabad came up with a proposal for this agreement.

"Under the existing mechanism, the drivers of trucks carrying goods between Pakistan and Uzbekistan brave multiple problems including at various check posts in Afghanistan. If restrictions under the name of scrutiny on the way to Uzbekistan from Pakistan are removed, the trade will flourish."

The ambassador said that under the proposed agreement, these issues would be resolved ensuring the scrutiny of the documents of the drivers of trucks and other supporting staff only at the entry and exit points, not at check posts in Afghanistan.

This will end the delays in the delivery of consignments, he said. To a question, the ambassador said that Pakistan has formally submitted with Uzbekistan the draft for Preferential Trade Agreement (PTA) that will initially help increase the trade to $400 million between the two countries.

"We will be the beneficiary of the PTA being a member of the WTO whereas Uzbekistan still needs to be a WTO member."

During the visit of Pakistan's PM to Tashkent, President of Uzbekistan Islam Karimov extended a special concession under which 100,000 tons of cotton would be directly provided to Pakistan.

Cotton is always exported from Uzbekistan through third party in Dubai. The direct export to Pakistan will reduce the cost of the cotton that will benefit Pakistani textile mills.

By Uzreport.com

Uzbekistan and China sign agreement for pipeline construction

Asia Trans Gas, a joint venture between Uzbekneftegaz and China National Petroleum Company, has been founded to design, construct and operate the Uzbek section of Turkmenistan–China gas pipeline.

The Chinese and Uzbek governments have signed an agreement on the principles of construction and operation of the third stage of the Turkmenistan–China Pipeline, Energy Delta Institute reported.

The third stage involves a spur pipeline located in Uzbekistan, which will supply the existing 1,800 km Turkmenistan–China Gas Pipeline with an additional 25 Bcm/a of gas. Additional information on the project was not disclosed.

Asia Trans Gas, a joint venture between Uzbekneftegaz and China National Petroleum Company, has been founded to design, construct and operate the Uzbek section of Turkmenistan–China gas pipeline.

The Turkmenistan–China pipeline transports gas from eastern Turkmen fields near the border of Turkmenistan and Uzbekistan in the west, through central Uzbekistan and southern Kazakhstan, and enters China at Horgos Port in Xinjiang.

By Uzreport.com

EU delegation visits Uzbekistan

UzA, 27 April 2011, 07:52

The Legislative Chamber of the Oliy Majlis of the Republic of Uzbekistan hosted an international roundtable on “Political and economic development in Uzbekistan and the EU, and prospects of further deepening bilateral partnership and cooperation”. The event was held in the framework of the visit of the European Parliament delegation to the country.

The roundtable was attended by deputies of the Legislative Chamber and members of the Senate, the Ombudsman, members of the EU delegation and representatives of various ministries and departments of Uzbekistan.

Chairman of the Legislative Chamber Committee for International Affairs and Interparliamentary Relations L.Gulyamov noted the consistent development of cooperation between Uzbekistan and the European Union in the economic, social and political spheres, as well as in the parliamentary sphere.

Uzbekistan is working closely with the EU in economic, political and legal areas, in the field of agriculture, energy, transport, education, know-how, standardization and certification, audit, control of drug substances, as well as in the reconstruction of Afghanistan and strengthening regional security and stability.



The European Union pays a particular attention to relations with Uzbekistan. The committee of parliamentary cooperation “Uzbekistan – European Union” was created. Established under the Agreement on Partnership and Cooperation between Uzbekistan and the EU, this committee serves to development of parliamentary relations.

At the regular meetings of the committee held in Tashkent and Brussels issues like relations between Uzbekistan and the European Union, in particular, socioeconomic and financial cooperation, democratization processes, protection of human rights and interests, cooperation in science and technology, education and healthcare, environmental protection and rational use of natural resources are discussed. Along with this, mechanisms of cooperation in the fight against transnational organized crime, illegal drug trafficking, terrorism and religious extremism are considered.

During the round table, Ombudsman S.Rashidova, chairman of the Legislative Chamber Committee for Democratic Institutions, NGOs and Self-Government Bodies A.Saidov, chairman of the Committee for Information and Communication Technologies A.Jurabayev, chairman of the Senate Committee for Foreign Policy Issues S.Safayev and others noted that reforms carried out in Uzbekistan in order to strengthen healthy competition between political parties, improve the activity of civil society and human rights protection have produced notable results.

Members of the European Parliament got acquainted with the ideas and initiatives put forward by President Islam Karimov in his Concept of further deepening democratic reforms and formation of civil society. The concept, in particular, includes priority directions for democratization of state power, improving the legal system, reforming the information sphere, developing electoral law, forming the institutions of civil society and liberalizing market reforms.

“The relations between the European Union and Uzbekistan are developing dynamically,” said the deputy of the European Parliament, head of the delegation Anna Gomez. “At this meeting, we exchanged views on interparliamentary relations, regional security, environmental protection, rational use of water resources, stabilization of situation in the Aral Sea basin, energy, combating illicit trafficking of narcotic substances. The European Union supports efforts and initiatives of Uzbekistan towards important regional and international matters.”

Management Development Institute of Singapore in Tashkent

The Management Development Institute of Singapore (MDIS), founded in 1956, is Singapore's oldest not-for-profit professional institute for lifelong learning.

MDIS provides well-accredited courses, seminars and management services and opportunities for individuals to develop professionally through academic programmes in Business and Management, Engineering, Information Technology, Life Sciences, Mass Communications, Psychology and Travel, Tourism and Hospitality Management. They are offered in collaboration with highly acclaimed universities in Australia, France, the United Kingdom and the United States of America.

Its current student enrolment is approximately 13,000, out of which about 5,000 are international students from 69 different countries. MDIS set up it first overseas campus in Tashkent, capital of Uzbekistan, built in 2008 at a cost of US$20 million. In the capital of Uzbekistan, Tashkent, MDIS has set up remarkable campus stretching to 3.8 hectares with channel nearby. Beautiful scenery combined with full wi-fi enabled campus house student accommodation, sports complex with swimming pool, gym, tennis court, football pitch, basketball court, volleyball court.

At MDIS Tashkent, student from Uzbekistan as well as Korea, China, Singapore, Malaysia, India study for degree from highly ranked universities like University of Wales and Southern Cross University.

It was announced on 28 June 2010 that MDIS would be setting up an S$130 million overseas 30-acre (120,000 m2) campus in Iskandar Malaysia which is expected to start work at the end of 2011. The campus is Malaysia is expected to be five times as big as the MDIS Campus in Singapore.

Westminster International University in Tashkent

Westminster International University in Tashkent (WIUT) is Uzbekistan's first international university. The university is the first in Central Asia to offer a Western education, with UK qualifications. WIUT was established in 2002 in conjunction with the "UMID" Presidential Foundation, the Ministry of Higher and Secondary Specialised Education and the University of Westminster in the United Kingdom. Since its establishment WIUT is widely recognized as one of the best and most prestigious educational institutions in Uzbekistan.

The objective of establishing WIUT was to provide an international standard of Higher Education in Uzbekistan to enable citizens of Uzbekistan and other countries to obtain an internationally recognised Bachelor education in Business Administration, Business Computing, Economics and Commercial Law, all validated by the University of Westminster. From 2005 WIUT has offered the first Internationally accredited Masters of Arts in International Business and Management as well as a professional qualification for teachers, the Post Graduate Certificate in Special Studies - Teaching and Learning. (Adopted from WIUT official site)

WIUT offers an international teaching team with a dynamic student centered teaching and learning philosophy. All teaching and assessment takes place in English. The first intake of students began their studies in October 2002 and the new university premises were inaugurated in spring 2003. WIUT has now an alumni 400 graduates and has established itself as the premier International University in Central Asia. of The university has been developed and is managed on UK/International principles and practices.

WIUT's graduates continue their career/education in top companies and universities of the world.Prince of Kent (UK) has recently paid a visit to University of Westminster. See picture.

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