February 19, 2011
Meeting in Oqsaroy residence
President of the Republic of Uzbekistan Islam Karimov received the delegation of the American-Uzbek Chamber of Commerce headed by its chairwoman Carolyn Lamm at Oqsaroy residence in Tashkent on 18 February.
Carolyn Lamm said during the meeting that the American-Uzbek Chamber of Commerce assigned an honorable award to President Islam Karimov for ensuring a stable transformation of Uzbekistan’s economy into an effectively run market economy.
She stressed that the decision – taken by the chamber whose membership includes such leaders of global industry as Boeing, Honeywell, General Electric, Exxon Mobil, General Motors, Sikorsky Aircraft, Zeppelin International, Nobel and others – was indicative of the international recognition of the concept of gradual transition to market economy, elaborated by President Islam Karimov and acknowledged across the world as the Uzbek model of development.
The management of Boeing and Honeywell who participated in the meeting noted that the Uzbek model of economic reforms, built on the five principles of transition worked out by President Karimov, had ensured a shock-free macroeconomic stability and profound structural transformations, and create an environment facilitating a smooth shift to market relations in the country.
The works by President Karimov on the concepts of transition from the administrative command economy to the market system and the Anticrisis Program have confirmed their high effectiveness in practice. These concepts have an important practical significance in the elaboration and implementation of macroeconomic policy in transitional economies and can serve as a good starting point for both the developing and developed nations.
In a relatively short period of time, Uzbekistan ensured a transition from an economy based on raw materials to a diversified industrial one, building on modernization, technical and technological renewal of industry and agriculture based on an active investment policy, manufacture of competitive export-oriented goods, as well as an accelerated development of small business and private entrepreneurship.
It is worth noting that the International Monetary Fund considers Uzbekistan the most dynamically developing economy among the CIS countries and one of the five most rapidly growing economies in the world.
The well thought-out, targeted and long-term concept of the Anticrisis Program became a logical continuation of the economic reforms in Uzbekistan. Its effective implementation has helped maintain macroeconomic and financial sustainability, stable development of the real sector, and lay a solid ground for the subsequent steadily high rates of economic growth for years to come.
Thanks to this, US companies like the General Motors, Texaco, Chartis and a number of others have already been successfully realizing major investments in Uzbekistan, while such renowned high-tech leaders as Honeywell, Sikorsky Aircraft, Exxon Mobil and General Electric are in the process of commencing their investment activities in the Uzbek economy.
The representatives of the American-Uzbek Chamber of Commerce highlighted the macroeconomic indicators of Uzbekistan, in particular high GDP growth rates, stable budget surplus, balance of payments and trade, steady growth of the gold and currency reserves and the low level of the state debt.
During the meeting, President of Uzbekistan Islam Karimov expressed confidence that the American-Uzbek Chamber would continue to be an instrument of expansion of trade-economic and investment cooperation between the two nations.
The members of the American-Uzbek Chamber of Commerce thanked the head of Uzbekistan for the warm welcome.
Prospects of further development of Uzbek-American relations in the economic and investment spheres were discussed at the conversation. It was stressed that both sides were interested in attracting advanced US technologies and investments in the dynamically developing economy of Uzbekistan, and that the efforts would be continued to create a favorable environment for such interaction on the basis of strategic partnership.