BAKU, Azerbaijan, June 19. Uzbekistan and JPMorgan Chase discussed economic reforms, privatization efforts, and opportunities to expand cooperation with international financial markets
This was reflected in the statement by the Ministry of Economy and Finance of Uzbekistan, following a meeting held on June 18.
The talks brought together Maria Glukhovsky, Managing Director and Global Head of Public Sector at JPMorgan, and Jamshid Kuchkarov, Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance. The meeting was also attended by Timur Kunanbayev, Managing Director, Senior Country Officer for CIS countries and Head of Investment Banking at JPMorgan, as well as officials from Uzbekistan’s Ministry of Economy and Finance.
During the meeting, the parties exchanged views on Uzbekistan’s ongoing economic reform agenda, including the privatization and transformation of state-owned enterprises and banks, the development of the capital market, and efforts to strengthen engagement with international investors.
"The meeting focused on elevating practical cooperation to a new level, strengthening effective dialogue with international financial institutions and investors, and exploring opportunities to utilize advanced international experience." the ministry said.
The discussions also focused on reforms aimed at transforming state-owned banks and enterprises into more efficient, transparent, and competitive organizations operating on market principles. Participants reviewed opportunities to attract strategic investors and accelerate the commercialization of key sectors of the economy.
Another key topic was the development of Uzbekistan’s capital market. The parties explored measures to increase market liquidity and attractiveness, expand the use of modern financial instruments, improve the country’s sovereign credit ratings, and strengthen investor confidence.
The meeting comes as Uzbekistan continues to pursue market-oriented reforms designed to attract foreign investment, deepen financial sector development, and integrate more closely with global capital markets.
At the conclusion of the talks, both sides expressed their commitment to maintaining regular dialogue and further expanding mutually beneficial cooperation in the areas discussed.
