Fund for Support of Exports of Small Businesses and Private Enterprises of Uzbekistan is getting prepared to open its representative office in China in the near future

This step ranks among the most important areas of the Action Strategy, and is aimed at promoting products of small-scale economic entities in foreign markets.

Specialists of the Fund have already held negotiations with representatives of the Chamber of Importers of Weihai City and ShinDaDong Company, where the Chinese side expressed a special interest in importing food products produced in Uzbekistan.

 “Today, the Fund runs its representative offices in Russia, South Korea, Italy, Bulgaria, Switzerland, Germany and Spain. Aiming to expand the map of exports of small and private businesses of Uzbekistan, the Fund intends to open representative offices in Latvia, Singapore, Portugal, Czech Republic, Luxembourg, Poland, the UK, Kuwait and other countries in the near future,” its press service reported.

Major functions of FSESBPE representative offices abroad include the conduct of market research, search for potential importers of domestic products, promotion of our brands in foreign markets, assistance to Uzbek entrepreneurs with participation in exhibitions, fairs, tenders and other events.

In addition, they organize visits of foreign importers to our country for negotiations with local suppliers of products, assist in obtaining international certificates, licenses and other permits, as well as organize foreign internships for specialists of Uzbek industrial enterprises.

This March, a Fund’s representative in Dresden, Germany, initiated an event on trade, economic and investment capacity of Uzbekistan. It was organized by the Economic Development Agency of Saxony, Commerzbank, and other German organizations.

The guests were detailed on trade and economic potential of Uzbekistan, the conditions for doing business, on the activities of the fund and its services that are aimed at increasing export capacity of small and private business entities and full support for their export activities, as well as on the opportunities of supplies of Uzbek products to the German market.

German companies expressed interest in FSESBPE activities and pre-export financing services for small businesses, assistance to entrepreneurs with participation in exhibitions and fairs abroad and with the implementation of projects aimed at the manufacture of export-oriented products.

The FSESBPE Representative Office in Germany and the German company Orchidee Europe BVBA reached an agreement on the distribution of domestic textile products in an annual volume of $10 million.

The last year’s visit of the delegation of South Korea's largest retail company Lotte Mart to Uzbekistan is another good example of effective operation of FSESBPE representative offices abroad. They hosted meetings in interested organizations and visited the companies engaged in the textile and food industry, as well as alcohol production.

The business relations established during the last visit have brought fruits: a Bofanda textile company is exporting its textile products in Lotte Mart as early as this year. To enable the supplies, the Fund has provided pre-export financing to Bofanda in the form of an interest-free financial loan for the purchase and manufacture of finished textile products, as well as exports to the Republic of Korea.

This suggests that FSESBPE representative offices abroad support export initiatives of domestic business entities.

(Source: «Uzbekistan Today» newspaper)

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