| Sultanate and Uzbekistan ink six pacts and nine MoUs |
MUSCAT The Sultanate and Uzbekistan signed six agreements and nine Memoranda of Understanding (MoUs) in economic, joint investment, tourism, higher education, scientific research, cultural cooperation, air transportation services, energy and petrochemical fields at Al Alam Palace Guest House on Monday.
The agreements executed come within the context of the current visit of President Islam Karimov of Uzbekistan to the Sultanate.
The agreement included on the basis of cooperation and relations between the Sultanate and Uzbekistan, the agreement to establish a joint investment fund between the State Public Reserve Fund and the Construction and Development Fund in Uzbekistan with $500 million licensed capital and $100 million underwritten capital. While the State Public Reserve Fund will own 75 per cent of the fund, which will be based in Tashkent, the Uzbek side will own the remaining part of it.
The agreements were signed on behalf of the Sultanate by HE Ahmed Bin Abdulnabi Macki, Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resources Council and Rustam Azimov, First Deputy of the Prime Minister and Minister of Finance signed for the Uzbek side.
The two sides also signed a funding agreement by which the Sultanate’s government will finance the construction of the library of the Oriental Studies Institute ‘Abu Alraihan Al Bairuni’ affiliated to Sciences Academy in Tashkent. The governments of the two countries also signed a MoU in the field of higher education and scientific research. The agreements and the MoU were signed by Macki on behalf of the Sultanate government and Vladimir Norov, Minister of Foreign Affairs on behalf of the Uzbek side.
Abu Alraihan Albairuni Library includes 26,000 manuscripts and documents, 85,000 messages, most of them in Turkish, Uzbek and Farsi language, as wells as, 10,000 manuscripts in Arabic language of which most of these rare books that date back to the 17th and 18th century. Unesco listed these books in the World Heritage List as there is no similar copies of them in the world.
The agreements and MoUs signed between the Sultanate and Uzbek government included the commercial and economic cooperation agreement, an MoU for cooperation between the National Economy Ministry and the Foreign Economic Affairs, Investment and Trade Ministry of Uzbekistan, a draft MoU for food security cooperation in the economic zone ‘Nawaie’ between Oman Investment Fund and the Foreign Economic Affairs, Investment and Trade Ministry in Uzbekistan, an MoU for cooperation in building a cement plant in Uzbekistan between Oman Investment Fund and the Foreign Economic Affairs, Investment and Trade Ministry in Uzbekistan and Uzbek Oil and Gas company.
The agreements were signed by Macki and Elyor Ganiev, Minister of Foreign Economic Affairs, Investment and Trade of Uzbekistan.
The two countries also signed an additional annex to amend the agreement of avoidance of double taxation and anti-tax evasion related to income tax. The two countries also signed a draft MoU between the Finance Ministry and State Tax Committee of Uzbekistan. The draft MoU was signed by Macki while Botirjon Parpiev, Chairman of the State Tax Committee signed for the Uzbek side.
The two countries also signed an agreement and three MoUs between Oman Oil Company and Uzbek Oil and Gas Company. While the agreement is related to bilateral cooperation, the first MoU covers cooperation in the production of polyethylene and the second MoU relates to studying the possibility of investing in petrochemicals in Uzbekistan while the third MoU is related to the production of polyethylene chloride.
The agreements and the MoUs were signed by HE Maqbool Bin Ali Bin Sultan, Minister of Commerce and Industry and Chairman of Oman Oil Company on behalf of Oman Oil Company and first deputy chairman of Uzbek Oil and Gas Company and Chairman of the Joint Investment Company on behalf of the Uzbek side.
The two sides signed a draft MoU on regularising air transport services between the two countries. The MoU was signed by HE Dr Khamis Bin Mubarak Al Alawi, Minister of Transport and Communications, on behalf of the Omani side while Vladimir Norov, Minister of Foreign Affairs signed on behalf of the Uzbek side.
The MoU signed included an agreement on cooperation in tourism field. The agreement was signed by Her Excellency Dr Rajha Bint Abdulameer Bin Ali, Minister of Tourism, on behalf of the Omani side while Elyor Ganiev, Minister of Foreign Economic Affairs, Investment and Trade signed on behalf of the Uzbek side.
Macki said the agreements signed come as a translation for the desire of the two governments to achieve joint economic and investment cooperation. A joint committee between the two countries has been formed to follow up and implement the clauses agreed upon in these agreements and MoUs. The Omani side at the committee is chaired by the national economy minister.
The talks held between His Majesty Sultan Qaboos Bin Said and President Islam Karimov of Uzbekistan on Sunday have shown the close views and keenness to activate the bilateral cooperation through opening two embassies in Muscat and Tashkent to care for the joint interests, he added.
Macki also said that the Sultanate has good experience in foreign investment through the State General Reserve Fund, Oman Investment Fund and Oman Oil Company.
“Having investment ventures in Uzbekistan has many incentives as the country is located in the heart of Central Asia and is witnessing rapid economic growth. Moreover, it has abundant natural resources such as oil, gas, agricultural resources and human resources,” he said.
“Both the Sultanate and Uzbekistan enjoy political stability, security, distinguished geographic location and encourage investment,” he added.
On his turn, Ahmed Bin Salim Al Wahaibi, CEO of Oman Oil Company, said the company will activate the agreements that have been executed especially by the company that has experience in studying the feasibility of oil and gas ventures it will invest in.
He also said that Uzbekistan has oil resources that are part of the industries in which Oman Oil Company can invest such as polyethylene, propylene, oil and gas pipelines and other petrochemical industries.
The signing of the agreements and MoUs was attended by a number of senior officials at the Finance Ministry, National Economy Ministry, Oman Oil Company, State General Reserve Fund, Oman Investment Fund and HE Mohammed Bin Said Bin Mohammed Al Lawati, the Sultanate’s Accredited Ambassador to Pakistan, Accredited and Non-Resident Ambassador to Uzbekistan.
Oman News Agency
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