Uzbekistan Shows Interest In Attracting Foreign Investments In Agricultural Sector

2023-09-26 07:18:09

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 26. Uzbekistan is interested in attracting $50 billion of foreign investment in the agricultural sector of the country, the Minister of Agriculture of Uzbekistan, Aziz Voitov said at the 2nd Turkic Agro Business Forum in Baku, Trend reports.

The minister noted that the textile industry, gardening, animal husbandry, seed production and others are important and promising sectors in the agricultural sector of Uzbekistan.

He added that the government of Uzbekistan provides subsidies to farmers for the introduction of water-saving technologies and the purchase of seeds.

In addition, Voitov said that this platform provides huge opportunities for negotiating contracts and stimulating business in the field of agriculture.

Uzbekistan has traditionally employed a system of state support and subsidies for its agricultural sector. The Assistant Food and Agriculture Organization of the United Nations (FAO) Representative in Uzbekistan Sherzod Umarov had said that there is a need to align these mechanisms with international trade rules and regulations. This involves ensuring that subsidies provided to agricultural producers are transparent, non-discriminatory, and comply with WTO guidelines.

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