Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, DP World signed a Framework Agreement that will enable it to expand its presence in Uzbekistan, boosting global trade flow and supporting the development of digital infrastructure.
The Framework Agreement was signed by Shukhrat Vafaev, Deputy Minister of Investments and Foreign Trade, Republic of Uzbekistan DP World’s Chairman, Sultan bin Ahmed Sulayem, in the presence of Sardor Umurzakov, Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan.
The agreement covers a broad areas of cooperation, all which will boost Uzbekistan’s trade networks, and position DP World as a strategic partner in boosting international trade. Prioritising the flow of trade in the country, the agreements include the establishment of a new inland logistics network, supporting the expansion of the Navoi Free Economic Zone (FEZ), and the cargo terminal at Navoi International Airport, launching new consumer e-commerce and fintech platforms in the country, and streamlining customs operations.
DP World will also deploy its advanced Port Community System by CARGOES, to provide stakeholders in trade and logistics with seamless, paperless access to services including dry ports, logistics parks, ICDs, railway stations and depots.
Sultan bin Ahmed Sulayem, Group Chairman and Chief Executive Officer of DP World, said: “DP World is committed to being a strategic partner for Uzbekistan enabling trade. Our agreements signed today will help design and shape a world-class trading ecosystem in the country. The Uzbekistan economy continues to grow at a strong pace, making it an attractive destination for long-term investments.”
“We look forward to working with the Ministry of Investments and Foreign Trade to promote economic growth and prosperity for the people of Uzbekistan, leveraging our capabilities across trading, logistics, infrastructure and digital technology.”
The World Bank is predicting that Uzbekistan’s economy will grow by 5.6% in 2022. The country is Central Asia’s largest consumer market, and a leading exporter of cotton and textile, automotive, fruits and vegetables. With its growing economy driving domestic consumption complemented by demand for exports, the country’s trading ecosystem is set to unlock numerous benefits.
Sardor Umurzakov, Deputy Prime-Minister, Minister of Investments and Foreign Trade of Uzbekistan, said: “Uzbekistan is keen to cooperate with DP World on facilitating the development of logistics sector of the country through implementation of portfolio of projects in key regions of the country.
Developing new trade infrastructure
DP World will establish a state-of-the-art, rail-linked and road-linked, inland logistics network offering customers efficient solutions across all major distribution and consumption centers in and around Tashkent. The company will develop a 100-hectare road-and-rail linked greenfield site in Uzbekistan’s recently established Special Economic Zones.
For more information: dpworld.com