The Eurasian Development Bank (EDB) and the Ministry of Investment, Industry and Trade of Uzbekistan have signed a memorandum of cooperation under the Technical Assistance Fund (TAF). The document is aimed at supporting exports, product certification and the development of non-financial instruments for Uzbek businesses.
TAF funds will be used for projects that help local producers meet international standards, enter new markets and increase their export potential.
Nikolai Podguzov, Chairman of the EDB Management Board stated: “For Uzbek goods to compete successfully in foreign markets, it is not enough just to produce them. They must meet importers’ requirements – in terms of quality, safety and standards. Our task is to help businesses through this process: from certification to their first export contract.”
Khurram Teshabaev, Deputy Minister of Investment, Industry and Trade of Uzbekistan added: “Cooperation with the EDB is not only financial support but also access to expertise. Technical assistance from the Fund will help us establish systematic work to promote Uzbek products on international markets, including the markets of the Bank’s member states.”
The memorandum provides for joint work on the development of export infrastructure, the introduction of certification and standardisation systems, and the training of specialists.
The document was signed during the official opening of the EDB’s representative office in Uzbekistan earlier this month.
