Uzbekistan and Citi Bank discuss priorities of economic cooperation and support for reforms

Deputy Prime Minister of the Republic of Uzbekistan — Minister of Economy and Finance Jamshid Kuchkarov met with a delegation of Citi Bank headed by David Livingston, Director of Customer Relations. The discussion focused on the prospects of bilateral cooperation, assessment of current projects and coordination of key priorities in the context of the ongoing economic transformation in the country.

The parties stressed the importance of consistently implementing large-scale socio-economic reforms, including accelerating privatization, restructuring state-owned enterprises and increasing their competitiveness. Among the key areas mentioned are improving the quality of infrastructure services — in particular, providing the population with a stable electricity supply and access to clean drinking water. The importance of the mechanism of public-private partnership in the implementation of such projects is emphasized.

During the talks, the need for active support of the private sector as one of the engines of sustainable economic growth was discussed. It was noted that further strengthening of market mechanisms and stimulating entrepreneurial activity remain at the center of the Government's current policy.

The participants of the meeting exchanged views on cooperation with international sovereign rating agencies, as well as on promoting Uzbekistan's accession to the World Trade Organization. Approaches to controlling inflation and maintaining macroeconomic stability in the face of global volatility are discussed.

Citi Bank, part of the financial holding company Citigroup Inc., is one of the largest commercial banks in the United States with an active presence in the global capital markets. Within the framework of cooperation with Uzbekistan, the bank provides technical and advisory support on attracting investment and developing financial instruments.

According to the press service of the Ministry of Economy and Finance, the parties expressed mutual interest in expanding the partnership and implementing new projects aimed at strengthening the stability of the national economy and its integration into the international financial system.