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19 May 2009 / 05:54

Given the support of the American-Uzbek Trade Chamber (AMCHAM) along with the Embassy of the Republic of Uzbekistan to the United States the book by President of the Republic of Uzbekistan Islam Karimov “The global financial and economic crisis, ways and measures to overcome it in the conditions of Uzbekistan” has been republished in English.

“The American-Uzbek Trade Chamber believes that the book by President of Uzbekistan is a mandatory for any reader who remains in the search for answers for today’s complex economic challenges. It represents a special view for the readers of the West in terms of how a particular country successfully tackles many of those problems now faced by many economically developed states,” reads the foreword to the American edition of the book by Islam Karimov.

Honorable Sir Richard Needham, who for over the span of many years served as a minister in the government of former British prime-ministers Margaret Thatcher and John Major, wrote as follows (given in excerpts) in the introduction to the book:

“This well-reasoned and substantial book reflects the views of the President of the Republic of Uzbekistan Islam Karimov on the current economic crisis, mitigation its consequences in the conditions of Uzbekistan, as well as the prospects of economic and social policies in this country.

President Islam Karimov clearly shows how to avoid the previous course of financial catastrophes and in this regard notes the sustainability of the Uzbek banks that have obtained the rating of “stable” on the part of International Credit Agencies. This is a key foundation on which the construction of the state’s future may be based. The author thoroughly and meticulously unveils the strategy of comprehensive development based on economic and financial growth, bettering the transport and energy infrastructure, as well as raising the level of technical and higher education.

At the same time, the book notes the significance of supporting the small businesses by way of decreasing the tax burden and rendering financial assistance on the part of “Micro-Credit Bank”. President Islam Karimov conducts a consistent course towards production of high value added goods thanks to introducing the innovations and latest technologies, while cutting down the commerce with raw and agricultural products. He understands and insists on the need to grant farmers the freedom of action, bettering their funding, increasing the farmlands and more introducing the mechanized labor.

At these difficult times President reminds his readers about very important stage which the country has overcome for over the past years. He rightly points to the solidity and firmness of positions of commercial banks and fairly underscores that the volumes of implemented foreign investments have grown for over the last two years for 2,5 times. It is observed the growth of net share of finished products in the structure of exports and trade with Asian states.

The Anti-crisis program is based on the five principles which predetermine the nature and direction of the socially-oriented and free market economy from the onset of Independence. At the moment, these principles have acquired yet bigger significance. Ensuring success in de- ideologization, pragmatism, implementation of the principles of rule of law, strong social policy (especially at this time) and consistency of implementing the reforms are a guiding star for Uzbekistan’s success.

In the beginning of the book President states: “Each of us must realize the very fact that today Uzbekistan is an integral part of the world community and global financial-economic market” and one should not suppose that the current crisis will sideline the country. At the same time, in his book President has reminded about the strengths of the Uzbek economic model, has honestly pointed to the vulnerabilities of state and explained the threats. But most importantly, he has precisely formulated the available favorable opportunities. President has elaborated the plan by following which the country may consolidate the growth and influence not only in Central Asia, but also far beyond its limits.

The integration of these strong political initiatives and principles into a united system even in the current conditions of heightening the control over the direct foreign investments in the world will allow Uzbekistan to well consolidate its reputation and increase its share in the world trade.”

Information Agency “Jahon” with Ikboljon Soliev contributing in English