The UAE and Uzbekistan signed an agreement to co-operate on government modernisation, with a focus on 10 sectors to promote the exchange of knowledge and expertise.
Minister of Cabinet Affairs Mohammad Al Gergawi and a UAE government delegation was received by President Shavkat Mirziyoyev in Taskhent at the weekend.
The parties reviewed a partnership between the UAE and Uzbekistan signed in April 2019.
An agreement to extend and expand the partnership was signed by Mr Al Gergawi and Sardor Umurzakov, Deputy Prime Minister and Minister of Investment and Foreign Trade.
Areas of co-operation were updated to include the financial sector; education; economy; government leadership; food security and agriculture, and ports and customs.
The expanded partnership now covers 27 sectors to benefit from the UAE’s experience and promote relations between the two nations.
Uzbekistan is known for its Islamic architectural landmarks and its location on the east-west Silk Road.
It is one of the world's biggest producers of cotton and has substantial oil and gas reserves.
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Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
