France will support Uzbekistan's accession to the World Trade Organization (WTO), President Emmanuel Macron said as he visited the Central Asian nation on November 1.
Macron also said: “France stands for the early signing of an Agreement on Expanded Partnership and Cooperation between the European Union and Uzbekistan.”
The portfolio of active and promising investment projects of the two countries recently exceeded €10bn.
A €1bn strategic cooperation programme is being implemented jointly with the French Development Agency.
The countries are also discussing major new projects in the fields of green energy, the extraction and processing of raw materials, agriculture, water supply, logistics, infrastructure development and tourism.
In addition, there are plans to open an Uzbek-French university in Tashkent and a branch of the Alliance Francaise in Samarkand.
Bloomberg earlier described Kazakhstan and Uzbekistan as “Putin’s backyard” and speculated that Macron would seek “new friends and uranium” in the region’s number one and two economies. Kazakhstan is the world’s largest uranium producer and Uzbekistan ranks in the top five.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
Georgia’s TBC Bank weighs up separate IPO for TBC Uzbekistan digital bank
London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more
IndiGo cancels Central Asian flights until late February over Iran tensions
Indian budget carrier IndiGo has cancelled all flights to and from Tbilisi, Almaty, Baku and Tashkent until February 28 due to the developing situation around Iran, the airline announced on February ... more