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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