Joint Statement
of Japan and the Republic of Uzbekistan on development of economic cooperation and assistance to economic reforms in Uzbekistan

Tokyo, July 29, 2002

The Prime Minister of Japan Junichiro Koizumi and the President of the Republic of Uzbekistan Islam Abduganievich Karimov,

Welcoming the deepened bilateral relationship and attaching primary importance to the further development of the joint cooperation,

stressing the necessity of development of processes of democratization, transformation to market economy and economic reform in the Republic of Uzbekistan,

recognizing the importance of combining the efforts in strengthening peace, stability and security in Central Asia as a basis of expansion of creative partnership, development of bilateral relationship, which is based on the principles of trust and mutual benefits, and of long-term perspective of close economic cooperation,

understanding that the economic development of the Republic of Uzbekistan and its integration to the world economic community promote not only the development of bilateral trade-economic relations but also the prosperity of Central Asian region as a whole,

taking into account the adherence of the Government of the Republic of Uzbekistan to taking consistent measures in the future to liberalize the economy and the currency regulation, to achieve the convertibility of the national currency on current business in coming months, to raise the potential of export and the competitiveness of the products, to deepen the process of privatization, and to rapidly develop the private sector of the economy,

noting the need for wider and more effective realization of the available potential in the economic sphere,

issued the following statement,

  1. The Uzbek side expressed its expectation towards the economic cooperation by the Japanese side in introducing modern technology to the exploitation of rich natural resources, to the creation of new types of industry, to the modernization and to the improvement of the quality of products in the Republic of Uzbekistan.
    Both sides confirmed that they would promote cooperation in the sphere of energy, based on the discussions held on the occasion of the Silk Road Energy Mission's visit to the Republic of Uzbekistan in mid-July 2002.
    Furthermore, both sides will consider the future possibility of cooperation in introducing and promoting energy conservation and environmentally friendly technologies.
  2. Both sides expressed their intention to unite the efforts to prepare more favorable environment for trade and investment in order to expand economic exchange between the private sectors of the two countries. In this regard the Uzbek side emphasized the importance of development of legal basis between two countries and expressed its desire to sign on or revise the following agreements in the nearest future:
    - Agreement on trade and economic cooperation;
    - Agreement on mutual protection and encouragement of investment;
    - Agreement on avoidance of double taxation;
    - Agreement on air services.
  3. Japanese side expressed its support for the effort made by the Uzbek side concerning the implementation of economic reforms and realization of cooperation programs with International Monetary Fund (IMF), the World Bank Group, Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD). Both sides, taking into account the need for ensuring the stability and social protection of the most vulnerable groups of the Republic of Uzbekistan, pointed out the necessity of assistance by international financial institutions on condition that the most important economic reforms are fulfilled. Meanwhile, the Uzbek side mentioned the possibility of requesting Japanese side to consider co-financing of adjustment loans with international banks of development, aimed at supporting balance of payment and the state budget of the Republic of Uzbekistan.
  4. The Uzbek side highly values the results of ODA programs by the Government of Japan to the Republic of Uzbekistan, especially in the field of structural reforms. Both sides will consider the future possibility of cooperation including:
    (1) assistance to promote the transition to the market economy;
    (2) assistance in necessary infrastructure development;
    (3) assistance in reforming social sector.
    Both sides will examine the following two directions and the possibility in the future, reconfirming the importance of peace and stability of the Central-Asian region including the Republic of Uzbekistan, as well as the solution of problems of global scale:
    (1) Structure of cooperation for redressing regional disparities;
    (2) measures on protection of socially vulnerable classes of population.
    At the same time, the Uzbek side highly values the positive experience and broad activities of the Japan International Cooperation Agency (JICA) and the Japan Bank for International Cooperation (JBIC), which are implementing entities of Japan's ODA in the Republic of Uzbekistan.
  5. The Uzbek side highly values the activities by Japan External Trade Organization (JETRO) to develop the potential of trade and investment of the Republic of Uzbekistan. Both sides emphasized the necessity of strengthening and developing the cooperation with JETRO in order to promote Uzbek products in the world market.
  6. Both sides recognised the importance of making efforts for the expansion of economic relationship between Japan and the Republic of Uzbekistan, and expressed their intention to continue exchange of opinions on various opportunities such as Joint Japan-Uzbekistan Economic Committee, recognising the importance of the activities of Japan Association for Trade with Russia and Central-Eastern Europe (ROTOBO) in expanding the economic relationship between two countries.
    Both sides pointed out that 7th Joint Japan-Uzbekistan Economic Committee is planned in near future.
  7. Both sides, noting the potential for development of scientific-technological cooperation between the two countries, consider the possibility of the realization of joint projects in the sphere of fundamental and applied researches and perspective research and developments.

The Prime Minister of Japan
Junichiro Koizumi

The President of the Republic of Uzbekistan
Islam Abduganievich Karimov

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