TASHKENT, Uzbekistan, November 4. Adviser to
the Minister of Investment, Industry and Trade of the Republic of
Uzbekistan, Abdulla Khashimov, held a meeting with Olivier Grizard
and Olivier Topuz, Regional Directors of Union de Banques Arabes et
Françaises (UBAF), to discuss prospects for expanding the bank’s
operations in Uzbekistan, Trend reports.
The discussions focused on enhancing Uzbekistan’s foreign trade
relations, diversifying export-import routes, and strengthening
cooperation with partner countries across Europe, East and South
Asia, the Middle East, and Africa.
The sides also exchanged views on modern financial instruments
supporting international trade—including documentary letters of
credit, international guarantees, and trade and export financing
mechanisms—as well as opportunities for cooperation with export
credit agencies and multilateral financial institutions.
At the conclusion of the meeting, both sides expressed strong
interest in further developing interbank cooperation, introducing
innovative export financing tools, and improving the skills and
expertise of financial sector specialists.
To note, Uzbekistan maintains commercial relations with 206
nations, with China and Russia as its primary partners. The nation
exhibits a fundamentally adverse trade balance, exporting items
such as non-monetary gold, gas, and machinery, while importing
machinery, chemicals, and foodstuffs. Additional notable trade
partners comprise Kazakhstan, Türkiye, and the Republic of
Korea.
Union de Banques Arabes et Françaises (UBAF), headquartered in
Paris and established in 1970, is a financial institution
specializing in facilitating international trade between Europe,
the Middle East, Africa, and Asia. The bank provides a wide range
of trade finance services, including letters of credit, guarantees,
and structured financing solutions for global commerce.
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