The first phase of the International Industrial Fair and Cooperation Exchange launched in Uzbekistan.

The Government of Uzbekistan has adopted the proposal of the Ministry of Economy and Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan for an International Industrial Fair and Cooperation Exchange 2012 on a two-stage basis.

The first stage of the fair includes regional and sector industrial fair held in March-June 2012, and the second stage will be the International Industrial Fair and Cooperation Exchange to take place on October 23-27, 2012.

In preparation for the fair, the focus will be made on creation of long-term cooperative relations, increasing the number of participants and projects of localization of finished products, components and materials based on local raw materials and industrial cooperation, involvement enterprises of small business and entrepreneurship in commercial cooperation.

It is planned that within the regional and sector fairs enterprises in 2012 will conclude at least 15% more purchase and export agreements in addition to already concluded ones and not less than by 25% more at the International Industrial Fair and Cooperation Exchange in 2013.

Also, before the end of March the government is expected to approve comprehensive measures for the development of new types of import substituting and localized products, involvement of small businesses and private entrepreneurship, expansion of stable cooperative ties between enterprises.

Last year’s International Industrial Fair and Cooperation Exchange attracted over 850 representatives of foreign companies from 58 countries and more than 1,000 domestic enterprises and companies.

During the presentations of industries and enterprises, foreign and local guests were introduced to their technical and technological capabilities. The last year’s fair introduced each region of the country separately.

An annual increase in the number of participants and concluded contracts speaks about a success and effectiveness of the event. If in 2010, the fair presented 715 businesses, in 2011 there were over 1,030. In 2010 the volume of contracts reached 2.6 trillion soums (Exchange rate of CB 1USD-1839,40 soums), in 2011 it exceeded 3.5 trillion soums.

Foreign participants also showed enthusiasm in export contracts concluded with local suppliers. For example, last year they signed contracts worth more than $3.9 billion, while in 2010 this figure was $2.7 billion. (Source: Uzbekistan Today Newspaper)