Sharjah Chamber Commits To Strengthening Economic And Business Ties With Uzbekistan

The Sharjah Chamber of Commerce and Industry (SCCI) has reiterated its dedication to strengthening economic ties, promoting joint investments, and fostering trade missions between Sharjah's business community and Uzbekistan. This includes organising events and forums that bring together entrepreneurs from both regions to explore investment opportunities and enhance collaboration.

During a meeting at SCCI’s headquarters, Abdallah Sultan Al Owais, Chairman of SCCI, met with Abdulaziz Akkulov, Ambassador of Uzbekistan to the UAE. They discussed ways to strengthen partnerships and boost trade exchanges between the two countries. The discussions also covered enhancing communication channels for organising joint events and facilitating reciprocal business delegation visits.

Both sides aim to introduce their business communities to the investment advantages in each country. Entrepreneurs are encouraged to capitalise on available opportunities across various sectors and establish joint ventures. The Sharjah Chamber invited the Uzbekistan delegation to participate in key upcoming events like the Middle East Watch & Jewelry Show and Expo Culinaire at Expo Centre Sharjah.

Abdallah Al Owais warmly welcomed the Uzbekistan delegation, highlighting the strong and growing economic relations between the UAE and Uzbekistan. He noted that bilateral relations are continuously developing, with non-oil foreign trade between the two countries recording a significant 104 percent growth in 2022, reaching USD 993 million compared to USD 487 million in 2021.

The UAE’s non-oil exports to Uzbekistan during this period totaled USD 92 million, marking a growth rate of 190 percent compared to 2021. Al Owais pointed out that these promising outcomes provide a solid foundation for advancing economic and trade cooperation between the two friendly nations.

He affirmed that Sharjah Chamber is ready to offer comprehensive support to Uzbek companies interested in exploring investment opportunities in Sharjah. He also stressed the importance of organising bilateral meetings and opening more communication channels between businessmen and investors from both countries.

Enhancing Economic Cooperation

The meeting underscored the significance of promoting reciprocal visits between private sector representatives from both the UAE and Uzbekistan. They emphasised fostering collaboration to broaden the scope of joint ventures between their business communities. Additionally, they highlighted the need for joint events to showcase investment opportunities available in both countries.

The SCCI's commitment aims at maximising benefits from diverse investment opportunities on both sides. By reinforcing partnerships and fostering trade missions, they seek to create a conducive environment for entrepreneurs from both regions.

The initiatives discussed during this meeting are expected to fuel growth in trade exchanges and strengthen partnerships further. These efforts will help introduce business communities from Sharjah and Uzbekistan to new investment prospects, encouraging them to seize opportunities across various sectors.

With inputs from WAM