INTERNATIONAL RELATIONS President Islam Karimov sends condolences to President Barack Obama

President of the Republic of Uzbekistan Islam Karimov has sent a condolence note to President of the United States of America Barack Obama following the large-scale natural disaster in the eastern states of the US that has claimed numerous human lives and wide-ranging devastation (Press-service of the President of the Republic of Uzbekistan)

UK parliament delegation in Uzbekistan

A meeting with the chairman of the UK-Uzbekistan All-Party Group of the British Parliament Lord V. Waverley was held at the foreign policy committee of the Senate of the Oliy Majlis of the Republic of Uzbekistan. The issues of further developing parliamentary ties were discussed in detail during the meeting at the Senate of the Oliy Majlis of the Republic of Uzbekistan.

Uzbek-British business session

On October 25, Tashkent hosted 19-th session of the Uzbek-British Council on trade and industry. During the session participants discussed the investment climate in Uzbekistan and promising areas of cooperation with British companies.

According to Peter Lilley, the co-Chairman of the Uzbek-British Council on trade and industry, Uzbekistan is clearly demonstrating the dynamic pace of economic growth, makes a kind of a new industrial revolution.

At present cooperation between the two states is based on such agreements as \\\\\\\"On avoidance of double taxation and prevention of evasion of taxes on income and capital gains\\\\\\\", \\\\\\\"On cooperation in the spheres of education, science and culture\\\\\\\", \\\\\\\"On economic cooperation\\\\\\\", \\\\\\\"On encouragement and mutual protection of investments\\\\\\\", \\\\\\\"On air communication\\\\\\\", \\\\\\\"On cooperation in the field of tourism\\\\\\\".

By the end of 2011 the bilateral trade amounted to $177.5 million, and in January-August of the current year - $116.1 million.

Uzbek-German political consultations

A regular round of Uzbek-German political consultations was held at the Ministry of Foreign Affairs of Uzbekistan on 30 October 2012. The delegation of the Ministry of Foreign Affairs of the Federal Republic of Germany was led by Antje Leendertse, special representative for Eastern Europe, Central Asia and Caucasus.

The state and prospects of bilateral relations, including within the “Uzbekistan-EU”, “Central Asia-EU” cooperation framework, the issues of interaction within international organizations, global and regional problems, situation in Afghanistan, and other issues of mutual interest were discussed. Cooperation in trade-economic and financial-technical areas was the focus of the consultations.

Germany is one of the largest investors to Uzbek economy. At present 116 joint ventures with German capital operate in Uzbekistan.

ECONOMY

Draft State Budget for 2013

The Government of Uzbekistan held a session on 25 October 2012, which was dedicated for discussion of main macroeconomic figures, concept of tax and budget policies, draft of the State Budget of Uzbekistan and a program on creation of new jobs and employment of population for 2013.

It was noted that tax policy in 2013 will be directed at further decreasing tax burden to business entities and population, simplifying taxation system, strengthening income part of local budgets and improving tax administration.

it is planned to cut minimal rate of income tax for individuals on first scale from 9% to 8%, which will allow population to keep about 186 billion soums (over US$95.25 million).

Main direction of budget policy and project of the State Budget for 2013 will focus to social support of expenses, further growth of income level and well-being of population, strengthening material-technical base and equipment of educational and healthcare, as well as active investment policy. Over 59% of all expenses will be directed to finance social sector.

The 6th International industrial fair and cooperation exchange, Throughout the Fair from 23 to 27 October 2012 economic entities concluded contracts on export of products from Uzbekistan in the amount of $5 billion

For 5 days it was visited by more than 1200 representatives of foreign companies from USA, Great Britain, Italy, Germany, Spain, Portugal, Korea, Japan, China and others. Tashkent International Tourism Fair

Tashkent International Tourism Fair “Tourism on the Silk Road” (TITF) started its work in capital city of Uzbekistan on Wednesday, 31 October 2012.

The fair was organized at the official support of the UN World Tourism Organization (UNWTO). The TITF was included to calendar of international tourism exhibitions of the UNWTO.

About 700 companies, including 145 companies from 40 countries are represented in fair. Some 70 foreign companies are participating with unique stands.

This year, TITF will focus on Medical Tourism, which currently covers all types of treatment and rehabilitation. Currently, number of people, who combine tourism or business tourism with medical tourism, is increasing.

GM Uzbekistan plans to export half of its products

GM Uzbekistan, an Uzbek-US carmaker, is planning to increase its export volume up to 51.82% of its total production in 2013, representative of Uzavtosanoat said.

According to him, GM Uzbekistan plans to produce 274,000 automobiles in 2013 and export 142,000 cars (51.82% of total production) and realize 132,000 (48.13%) in internal market.

Uzavtosanoat’s representative said that GM Uzbekistan is planning to produce 235,000 automobiles in 2012. Some 117,500 cars or 50% of total production will be exported and other part will be realized within internal market.

In 2011, the Uzbek carmaker produced 222,000 automobiles, of which 108,000 were exported. Other part (114,000 units) were realized in internal market in Uzbekistan.

SOCIETY

Uzbek scientists develop bio fuel from cotton bushes A group of scholars from Karshi engineering-economic institute developed and introduced to practice a technology on production of bio fuel from cotton bushes, UzA reported.

The advantage of technology is that it is wasteless technology. By vacuum heating 100 kg of cotton bushes, 20% coal, 30% natural gas, 50% of the liquid fuel can be received.

Technology also allows to receive bio fuel from other plants, including sunflower and leafy tops of carrot. The region has enough raw materials to production of bio fuel, which will help to save natural resources.

New technology was developed by Rakhim Rabbimov and Gulom Uzaqov and tested at Mubarek-based Issiqlik elektr markazi. (Source: UzDaily.com)