Amazon talks entering Uzbek market

By Azernews

By Kamila Aliyeva

One of the largest online retailers in the world – American corporation Amazon – is preparing to enter the Uzbek market.

This became known following the visit of Uzbek President Shavkat Mirziyoyev to the United States. Minister of Foreign Trade Jamshid Khodzhaev, who was part of the Uzbek delegation, informed about the next steps of the parties to develop a mutually beneficial partnership.

“For the first time this company showed interest in our market. We have already made some progress in cooperation on this issue. Negotiations with the leadership of Amazon are currently underway and draft memorandums that envisage the joint development of a roadmap for entering the Uzbek market are being worked out,” he said.

In addition, the ministry intends to prepare road maps for the development of electronic commerce in Uzbekistan and expand access of Uzbek entrepreneurs to global trading platforms and electronic payment systems. To this end, during the visit, a memorandum on mutual understanding and cooperation was signed with the internet payment company Openbucks Corp, which will help with the development of electronic commerce in Uzbekistan.

To ensure uninterrupted access of Uzbek products to the U.S. market, an agreement was also reached with the American company WCC International on the implementation of a special project for the certification of Uzbek textile and other products in accordance with international norms and standards. Within the framework of the agreement on cooperation, the issue of introducing an international program for the provision of organic cotton production is also being considered.

The Uzbek president, during his visit to New York, held a series of meetings with representatives of American companies and took part in a bilateral business forum. During the visit, over 20 major business deals between Uzbekistan and U.S. companies were signed, which, if fully implemented, will be worth more than $4.8 billion and could sustain more than 10,000 US jobs and open opportunities for billions of dollars in future contracts.

In 2017 the volume of trade turnover between Uzbekistan and the United States amounted to 210.2 million dollars.

In the structure of Uzbek exports, the main share falls for services - 71.4 percent, mechanical equipment - 15.7 percent, dried pepper - 3.3 percent and fruit and vegetable products - 3.1 percent. In turn, pharmaceutical products, mechanical and electrical equipment, plastic products, optical instruments and devices, rubber, rubber products, vehicles, artificial fibers are imported from the U.S.