Uzbekistan Business Opportunities

Uzbekistan moving in OpportunitiesTopic Discuss the business surroundings of Inter guinea pig business opportunities in the given untaught and its economic indicators. research and elaborate if there is any bilateral trade agreement with India. inceptionCountry Name THE REPUBLIC OF UZBEKISTAN body politic of Uzbekistan is the largest country in the function and occupies a specific geographical and geopolitical position in primeval Asia abundant with innate(p) and human resources.Uzbekistan consists of 12 provinces and Autonomous republic of Karakalpakstan. license and soereignty of the Republic of Uzbekistan was proclaimed on August 31, 1991 in cap of Uzbek. geographyLocation teleph adept exchange Asia, north of Afghanistan.Access to sea Country is encircle by land. Note border passes through Aral Sea (420 km. of seaside of Aral sea).Neighbours Afghanistan, Kazakhstan, Kirgizstan, Tajikistan, and Turkmenistan.Coordinates 41 00 N, 64 00 EAreatotal 447,400 sq. km. land 425 ,400 sq. km. water 22,000 sq. km. m wholenessySince July 1st, 1994 Soum the national coin has been introduced as a unique policeful defrayment mean on territory of the Republic of Uzbekistan.1 Soum = 100 tiyn. Notes ar in denominations of Soum 1000, 500, 200, 100, 50, 25, 10, 5, 3 and 1. Coins are in denominations of 50, 20, 10, 5, 3 and 1 tiyn. stemma ENVIRONMENT rudimentary Business Environment1. Sm each(prenominal) and Private BusinessIt is the most self-propelledally developing sector of the parsimoniousness, and stimulated due to some(prenominal) state reforms powerful from the pole of 1998 with a view of supporting of undersize and private business. In particular reduction of inspections by state bodies, incorporated revenue for carrying out of lower-ranking business, liberalization of a cash turnover and educates of crediting of domestic and external financial institutions. In the earlier years of the indep displaceence the share of turnover of small and priva te businesses in the countrys GNP do approximately 1% in comparison to the year of 2002 the parameter was 35%. Small and private businesses contribute to the reduction of unemployment by job macrocosm in the country. conflicting credits and attracted enthronements directed by the GOU for stimulation of small and private business are repaid in due time under the favorable tax conditions and the optimized implement of sales of output on trade by the enterprises of small and private business.2. Import SubstitutionThe main purpose of import substitution, per se an instrument of currency exchange regulation, is to reduce excessive import of the estimables withal flummoxd in the land and direct the flow of released financial resources for the education of a domestic exertion and an increase of the application of hi-tech. effective from 1996. The changes that were introduced in 1996 to the legislation that regulated the currency flow can be one of the examples of the simp lification and flexibility of the currency exchange regulation. Besides, the currency line of descent derived form sales of automobiles, agricultural equipments, flour and sales of separate some(prenominal) liquid goods on inappropriate trades has allowed to set up currency self-recoupment of enterprises using in retrace of imported lancinating materials, materials and component. It is requirement to note that currency network of enterprises derived due to sales on export sufficiently directs to a addition markup and an enterprise development, workflow automation, labor stimulation and an advancement of a authoritative theme.3. Economic Growth and InflationOne of the brokers constraining the economic suppuration and the stability of any country is inflation. However, the GOU as a consequence of government issue economic reforms has achieved real decrement in inflation rate. According to the semiofficial statistical data, the inflation rate was much than 26.0% in 2001, but because of the favorable economic conditions, the datum has decreased by 6.8% in 2006.According to hands of economy, the developing of gross domestic product also depends on the exchange rate utilise for converting national currency into a international currency. In this respect the GOU has created the steady mechanism of the free currency convertibility by means of several Currency bullion and stock exchanges. The exchange rate is full stopically fixed by the profound Bank of Uzbekistan, allowing free and independent convertibility of any currency of the ball.The analysis of the motion of GDP shows stalls addition and significant budget surplus of Uzbekistan. At the 4.0% GDP exploitation the budget deficit of the country was 0.8% of GDP in 2002. The liberal approach of the GOU to the development of sectors of economy resulted in achievement of GDP growth over 7.0% with the budget surplus by 0.5 % in 2006. The study factors of the economic growth put up beco me the increase of the volume of industrial production and the agriculture by 10.8% and 6.2% respectively. According to statistical data, by the end of 2006 the average real wages in Uzbekistan accounted for UZS 185,000 or nearly USD 150, that 5 times exceeds the datum of 2001 and 2002.4. Balance of Payments (BOP)As a result of implementing of enumerate significant reforms by the GOU directed to liberalization of a national economy as a whole, the volume of currency reserves by the end of 2002 was increase by 167.9% and has do about USD 4.7 bn in comparison to those of last(prenominal) period. Due to the implemented protection policy of inte time outs of domestic executers, the import of the goods similarly produced in Uzbekistan was rock-bottom by 38.0%. The export of goods correspondingly increased on average by 23.0%. Moreover, the share of cotton fiber decreased by 17% in the export volume of the country, the rest of the export accounts for machines and equipments, fruit-a nd-vegetable manufacturing and process, saying materials, agricultural equipment, electro-technical products and others.The find ashes of the external debt of the country in 1999-2006 has been horse barn and less moderate. Furthermore, the external debt rate has been at the rate of 20.6% of GDP in 1999 towards 22.8% in 2006. The critical ratio was marked in 2003 when the parameter made about 40.0% of GDP. Hence, investments into any sector or region of the country directly can be considered guaranteed to the development and repayment in time, due to uninterrupted growth of antecedency macroeconomic parameters. The main investors of the country confirm been such(prenominal)(prenominal) companies as Gazprom, Lukoil, Mitsui, Mitsubishi, Itochu, Nestle, Coca-Cola Bottles, Vimm-Bill-Dann, SIEMENS, ZEROMAX, MTS, Vimpelkom, BAT, Marubeni, Samsung, ABN Amro Bank, Kanebo Silk, KOC, IRANSADERAT and etc.5. Currency ConvertibilityWith a view of streng henceing of currency balance of the country in Uzbekistan there were sometimes restrictions on converting of UZS into a distant currency. Additionally, the Republic of Uzbekistan has joined to the Article VIII of the Agreement of the IMF in 2003 and these restrictions have been removed. Today, converting is regulated by specific decisions of the GOU and instructions of the CBU.The incomes of the foreign investor derived in Uzbekistan can be re-invested on the territory of the Republic of Uzbekistan or used by any different way at discretion of a foreign investor. irrelevant investors are guaranteed for free transfer of cash resources in a foreign currency into Uzbekistan and from there without any restrictions under condition of tax payments and other mandatory payments in accordance with Uzbek legislation.6. Priority Sectors of rescueAgricultureThe main and leading sector of economy is the agriculture (about 40.0% of GDP). Basic manufacturing of the sector is cotton-fiber, wheat, and fruit-and-vegetable products.F avorable weather conditions have determined the corresponding regional distribution of the elementary export-oriented products of the agricultural industry of the country. For example, vegetables, fruit, melons and gourds are raised essentially in Namangan, Fargona, Andijon and Samarqand provinces, rice and other cereals in the Republic of Karakalpakstan and Khorazm province, collide with and dairy products and tanning materials mainly are produced in Bukhoro, Surkhondaryo and Qashqadaryo provinces, wine and other souse products are produced in Tashkent, Andijon provinces and the Republic of Karakalpakstan, tobacco products are produced in Tashkent and Samarqand provinces. Light industryOne of the priority directions in the development of an export policy of Uzbekistan is the development of light industry, basic exports are cotton yarn, silk and silk products, cotton severe fabrics, knitted cloth, garments, and etc. The sector is characterized not only by the opportunity of a qu ick return of investments, but also by cheap labor force, the availability of raw materials, and the substantial nucleotide.It is also necessary to note that Uzbekistan is one of the largest constructr of cotton, silk, and astrakhan fur in the world. The country is on the fourth place in the world in volumes and feeling of manufacture of cotton and the secondly place in volumes of cotton fiber export. in that respect are more than 200 large enterprises and associations, a network of branches, the casting meats of clothes and jersey, a design bureau, a network of firm trade, and etc in the Uzbek light industry.Due to re-equipment of manufacturing by youthful equipments the Program of Quality expediency and Increase in volumes of production, expansion of assortments, the organization engaged in processing of cotton fiber on the basis of attracting both(prenominal) local and foreign investments by creation of JVs is realized.The followings are the mainstreams of the develop ment of the sector Spinning manufacture updating of plants of not-spindle spinning on the basis of modern equipment Weaving manufacture implementing of automatic winding machines, warp drawing-in machines, replacement of weaving looms by modern shuttleless weaving machine Dyeing manufacture implementing of new equipments with the electronic control and regulation of processes. Heavy IndustryUzbekistan has rich spectrum of the natural resources, the developed mound and oil-and- suck industries. The country is rich in inexhaustible natural resources, including oil, gas, uranium, gold, copper, aluminium, iron ores and others.Uzbekistan heartbreaking industry is re hand overed by the developed and complex spheres of aircraft construction, motor industry, a network of the enterprises producing agricultural machines and equipment, cable conductor products, tools and parts for a railway system packation and etc.Uzbekistan is known also for reserves and extraction of treasured and r are-earth metals gold, silver, uranium, and etc. In volumes of manufacture of gold the country is on the second place in the CIS, the eighth in the world and the fifth in per capita production. Quality of the Uzbek gold meets high world standards. The significant stocks of copper, lead, zinc, molybdenum, tungsten, lithium, not-metallurgical raw materials (kaolin, fluoric and feldspar, quartz glass sand, phosphorites, etc.) exist in the country. They serve for manufacture of mineral fertilizers, porcelain-faience products and other production, matched in domestic and foreign market places.The country has strategic mineral resources of raw materials oil and gas, ores of ferrous, nonferrous and precious metals. In addition, the total potential of mineral resources of the country is estimated to be USD 3.3 trln. From entrails of the country minerals for the sum of 95.5 bln are derived annually, thus, the annual growth of reserves makes about USD 6-7 bln.TRANSPORTATION NETWORKDevel opment of transport communication theory between the states from ancient times was one of the basic ways for conglutination of nations, development of economy, mutual enrichment of cultures and, finally, made a significant impact on peaceful and harmonious development of mankind in its strides forward.The territory of present Uzbekistan lies at the heart of The Great Silk Road and precisely the shortest transport corridors from europium to Asia passed through this route. Situated in the centre of the region, Uzbekistan is objectively said to playing period a vital role of geopolitical bridge in traffic between the countries of the West and East.Utilization of Uzbekistans geographical location on occasion between the West and East, and also the North and South of the Euro-Asian continent, unmortgageds an opportunity for umteen countries of the Euro-Asian continent to access the overland continuous and safe transport communication.Having the developed networks of railways and highways, a complex of the world-wide airports, the airways which pass the territory of the country in latitudinal and longitudinal directions for international and, first of all, passageway transportations, Uzbekistan possesses huge transport potential and is capable to utilize national travel resources for ensuring the Euro-Asian communications and meet the demands of the country in transportations of passengers and cargoes in all kinds of transport.In questions of attraction of exile cargoes, the international transport terminals and the centers of logistics should be given special emphasis. These centers should coordinate employment of various types of transports which are rather burning(prenominal) in the conditions of the countries of the primaeval Asia with no access to the sea. Accordingly, the logistical centers should be established alongside the main transit corridors, and also on borders between the states of the region and, in effect, fulfill the functions of q uestionable dry ports.The multinational logistics center being exteriorizeed now in Tashkent is unique in Central Asia and should serve as transshipment and transit-transfer base for all kinds of cargoes on regional transport corridors.Transport infrastructuremodernisation and development of transport infrastructure, construction of new transport corridors are the important section of attraction of investments.All types of transport have been developed in the republic. Today the length of railways comprises 6,5 thousands km. Density of railway network in the republic is the highest in the Central Asia. Automobile transport plays significant role in shipment of cargoes and passengers. During years of reforms over 43,5 thd. km. of highways were constructed and put into operation, 97% of them have a hard covering.The Uzbekistan Railways existing network of railways and roadways connects the most remote regions and abandoned areas of the country to major centers, providing access to international transport systems and basic natural mineral and raw materials resources in the country.The country has prioritized its international system of transportation creating reliable short distance transport lines, providing access to the neighboring countries and the rest of the world.The railway line passing through Tedgen Serahs Meshhed, an integrated part of the Trans Asian line connecting Beijing and Istanbul is in operation. Since 2000 this line is to transport goods in both directions totaling 6-8 million tons and possibly doubling this capacity.Transportation along this corridor provides Uzbekistan with supernumerary foreign trade relations with Eastern countries of the Asia-Pacific Ocean regions, West misfire and some European countries.An import contribution towards the development to transportation in the country is the TRASECA Project implemented by the TACIS Program (European Community expert Assistance for the CIS), which provides for the construction of t he Trans-Caucases main line passing through the Central Asian countries of Azerbaijan, Georgia and the Black Sea ports. In addition to mental synthesis a new railway, Uzbekistan takes part in the project to construct a road connecting Andijan, Osh, Irkeshtam and Kashgar. This road result provide access to china and Pakistan. The road will continue through Bukhara, Seraks, Meshhed, Teheran, Termez, Heart, Kandagar and Karachi, providing access to the Indian Ocean. This corridor makes the distance to europium countries 3 times shorter.The establishment and strengthening of these trans-continental main-lines provide favorable conditions for foreign economic relations for Uzbekistan and other Central Asian countries. The expansion of transit passenger and cargo transportation connects Uzbekistan to Asian-Pasific Ocean region countries such as India and China and Near East countries such Tur appoint as closely as Europe.These so-called new routes practically coincide with the routes of the Great Silk Road. These routes provide opportunities to develop regular tourist and cultural relations with numerous countries of the world as it did so long ago.At the countrys expense, 2 large strategically important main lines between Navoi, Uchkuduk, Sultanoizdag and Nukus were built totaling a length of 342 km. another(prenominal) line was built connecting Guzar, Baysun, Kumkurgan with a total length of 233 km. These new projects will provide access to some of the richest natural mineral resources in the country, decrease transportation expenses inside the country and provide access to sea ports and international destinations.UZBEKISTAN AIRWAYS NACUzbekistan gloryways is the state airline of Uzbekistan, which provides aviation needs for the national economy. Uzbekistan Airways depicted object Air Company (NAC) was founded on January 28, 1992 in accordance with a Resolution of the chairwoman of the Republic of Uzbekistan, Islam Karimov. Today, the Uzbekistan Airways is the leading carrier in the Central Asian region.Uzbekistan Airways keeps a sound position on the international market and provides high quality competitive services. During the years of operation our company has been awarded the International fund for air travel Safety Diploma and a Certificate from Airports International Association and Euromarket-2000.The plan flights fly to more than forty cities of the world including America, Europe, Middle East, Southeast, Central Asia and the CIS. Uzbekistan Airways continues to establish long-term and reliable business contacts, to increase the number of countries where its aircraft flies to and to improve its services. It makes the company one of the worlds dynamic airlines.Domestic Routes.In domestic metropolis of Uzbek is the hub of airlines.International Routes.Uzbekistan by Air. Flights to Uzbekistan. Airlines in Uzbekistan. Foreign Uzbek AirlinesUzbekiston Havo Yullary (Uzbekistan Airways)Aeroflot, Asiana Airlines, Domodedovo Airli nes, Indian Airlines, Airlines of Kuban, Malaysia Airlines, Pulkovo Airlines, Samara Airlines, S7 Airlines, Transaero Airlines, Turkish AirlinesLAW STATISTICSDynamic of the main macroeconomics indicators of the Republic of Uzbekistan (in % to the previous year)1. GDP synopsisDuring the years 2002-2004 the GDP has been increase but in 2005-2006 the growth has decline.2. inflationAnalysisThe inflation rate has been declining since 2001 to 2004 but there is a myopic increase in 2005, 7,8 which has not affected much the economy then in 2001.3. STATE BUDGET(incomes, expenses, deficit, in % to GDP)AnalysisIncome and expense have a direct relationship. From 1998 state income and expense has been declining due to less proficiency, genuine attention is required for improvement.Export structure of the Republic of UzbekistanAnalysis cotton plant fibre is the main item of export as its export has been increasing over the years from 2002-2006. whereas items of foodstuff has also show an incr ement ,almost all the items have shown an increment which is good for the countrys economy, as it will bring more foreign exchange.Import structure of the Republic of UzbekistanAnalysisImport of machines equipments has been increased over the years whereas other items of import needs to be controlled. affair turnover with a number of countries being the leading partners of the Republic of UzbekistanForeign countriesAnalysisTrade with Turkey, China and Iran has shown an increment from approximately 520-720 ,420-700, and 450-650 million US dollars , which is tremendous but trade with other countries such as capital of Singapore and France needs to be improved.CIS countriesAnalysisTrade with Kazakhstan has shown a little improvement as compared to other countries as such Belarus, Kyrgyzstan, Ukraine and Tajikistan. Trade with these countries needs to be improves for better flow of trade as well as maintaining good relation with neighbouring countriesFOREIGN INVESTMENTSMore than 20 bil lions US dollars of foreign investments have been attracted in the economy of the Republic of Uzbekistan, including 5 billions during the last 3 years.Uzbekistan is one of the developing economies with so galore(postnominal) business prospects. As due to its stable govt policies which has made it possible.The volume of direct foreign investments into the economy of Uzbekistan has increased in 24% and made up more than 1.2 billions dollars in 2006.BUSINESS OPPORTUNITIES IN UZBEKISTANUzbekistans independence has been recognized by 160 states. On March 2, 1992 Uzbekistan became a full-fledged member of the united Nations. Also, the Republic is a member of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, and several other prestigious international organizations.The Republic of Uzbekistan was one of the first Soviet Republics to restrain independence, adopt its own Constitution, and introduce a presidency and democratic parliament. quintuplet years ago no one could have predicted that Uzbekistan would become one of the most dynamic and progressive among all the former Soviet Republics. It has the crush investment opportunities today.Uzbekistan is the only state, among, the post-Soviet countries that has increased its oil and gas production in recent years (indeed it has doubled oil production) to ensure its own cypher self-sufficiency. In 1995, growth in the extraction of oil and gas condensing increased to 37.5%, and natural gas production grew by 2.9%.Another important-looking result is that Uzbekistan has increased its self-sufficiency in grains its output rose to over 3 million tons, and according to some estimates in 1996, the Republic whitethorn achieve 4.5 million tons of harvested grain.Real privatization in Uzbekistan has been dramatic, but has not been accompanied by economic disorder and neighborly discontent as elsewhere. The private sector in the economy now produces 44 % of the industrial production and 97% of agricultural production.The non-state sector consumes 44% of total capital investments and employs 64% of the labor force. More than 250 representative offices of foreign companies and banks are in Uzbekistan. The United Nations, the World Bank, IMF, and many other international organizations have open their headquarters in Tashkent. Over 2000 join embarks are registered in the Republic. Foreign investments of over $3 billion have been made in Uzbekistan. Moreover, the Republic fulfills all of its obligations on foreign credit repayments without default and is generally regarded as an excellent credit risk-taker.Main reasons for Uzbekistans successThe central reason is that, dissimilar leaders of the many other Commonwealth of Independent States (CIS) countries, the President of Uzbekistan, Islam Karimov, has shown majestic intuition and has created an extraordinary degree of domestic and foreign confidence in Uzbekistan. Consequently the realization of hi s strategy for transition to a free market economy, in which he has taken into account the peculiarities of the Republic and the experiences of other countries, showed that it was the mighty choice.He and his advisors have found a unique middle prove between painful shock therapy and backsliding into an economic decline. The five basic principles which have minimized the pain of transition and have already initiated dynamic growth, aresupremacy of economics over politicsthe state as the major reformer and guarantor of economic transformationsupremacy of law in all spheres of activities for both state and societypowerful social policyconsistent and stage-by-stage accomplishments economic reformsThus, Uzbekistan has transformed from a society compulsive by ideology to a pragmatic country aimed at attracting businesses and incur high levels of domestic and foreign investment. During the transition, the Uzbek Government has actually accelerated infrastructure development, in contrast to many other CIS countries.A second factor is that since the first steps of independence, an array of necessary laws and regulations have been adopted. In a remarkably short period of time, standard and legal frameworks have been created. During the chivalric five years, laws and regulations in more or less all main areas of the formation of the market economy have been passed. These include laws On Foreign Economic practise and On Foreign Investments and Guarantees of Foreign Investors Activity. These and other laws and standard regulations provide many privileges, benefits, and guarantees for foreign investors. For exampleThere are particular taxation privileges for winnings reinvested in the broadening and modernization of production.The enterprises with 50% involvement of foreign capital, and which produce consumer goods, are free from the obligatory sale of foreign currency to the Central Bank for up to 5 years from the date of their registration.The enterprises with 30% participation of foreign capital, and which specialize in the production of various agricultural, consumer, and industrial products (except the excavation industry) are granted a two year grace period for profit taxation. The given grace period can be prolonged for up to 5 years for projects, which included into investment program of the Republic of Uzbekistan.For enterprises with 30% participation of foreign capital, the rate of the tax on income is reduced from 18% to 10%.A third reason for Uzbekistans achievements is the realization of an open door policy, which has been a top priority of general economic policy. geomorphological reorganization, overcoming the economys one-sided orientation toward raw-material production, and producing export-oriented and import-substituting products are the priorities in the external economic and investment policy. Priority areas for investment include the followingmining and metallurgical production and expansion of extraction and processin g of non-ferrous and ferrous metalsdrilling, processing, and transportation of oil and gasadvanced processing of cotton, agricultural raw materials and products, including fruit, vegetables and grain productiondevelopment of transportation and telecommunicationsengine production, including automobile, aircraft and agricultural machinery manufacturingproduction of building materialsdevelopment of the tourism industryenvironmental protection industriesA fourth factor is that the priority in the economic reform has been given to the creation of the market infrastructure and the development of small businesses. In recent years, Uzbekistan has witnessed the creation of the Republican Stock-Exchange Center, regional stock market, and private stock and securities trading offer. Private business growth has also accelerated. In 1995, more than 4,000 joint stock companies were registered in Uzbekistan. Also, in 1995 and in the first quarter of 1996 more than 75,000 small enterprises were regi stered.BILATERAL plenty AGRREMENTUzbekistan has engaged in bilateral, economic cooperation and double taxation with many countries, including the United States, China, Korea, Great Britain, Russia, India and others. In order to reduce the cost of attracting foreign investments to Uzbekistan and decline the risks of foreign investors, Uzbekistan joined the Washington Convention of 1964 and the Seoul Convention of 1964.In addition, the national insurance company, Uzbekinvest, was established to cover political and commercial risks. Uzbekinvest and the National Bank of External Economic Activity joined with the American monetary Group, AIG, Inc. to establish joint insurance companies to* cover political risks (its headquarters is in London) and* cover commercial risks (its head office is in Tashkent).As a result, the UzDaewoo-Auto Project (with the South Korean conglomerate Daewoo), which amounts to $700 million, is one of the largest projects with direct foreign investment particip ation on a 5050 basis. The assembly plant in the Andijan region came on-line in April 1996 and has a production capacity of 200,000 cars annually. Another large single investment of the CIS is the Zarafshan Newmont Gold minelaying Project (over $229 million) with Denver-based Newmont Mining Corporation. Also Lonro company recently created a joint venture in Uzbekistan and has invested in a gold-mining branch worth $250 million.In addition, British American Tobacco has a tobacco joint venture with the State and plans to invest a total of $232 million.All of these companies came to Uzbekistan because they were convinced of the in demand(predicate) business climate in Uzbekistan. During his recent visit to the United States and see in Denver with American businessmen, the President of Uzbekistan, Islam Karimov, said that Uzbekistan has an excellent system of privileges and guarantees for foreign investors. With his decree on additional measures to encourage the creation of enterpri ses with foreign investments and their activity from June 1, 1996, foreign investment enterprises that produce export-oriented and import-substituted products received additional benefits, such as* They shall be granted the right to receive a tax credit for the development of production that is, they shall be granted a wait for a period of up to two years for their profit tax, set added tax and land tax payments into the budget.* Enterprises with a share of foreign capital in the authorized capital of not less than 500,000 US dollars, shall be exempt from the payment of property tax.As additional proof the European Bank for Reconstruction and Development (EBRD) has eighteen projects operating in Uzbekistan with a total value of $520 million. This is the second largest amount in the investment portfolio of the CIS, after Russia. Also, the World Bank chose Uzbekistan as its first investment in an agro-industry project in the CIS.In short, Uzbekistan stands clearly, as one of the m ost exciting appear markets. It enjoys a popular, stable government, a highly skilled labor force, and virtually no violent crime. President Karimovs government is efficient, pragmatic, and pro-business. Thus, the foreign investors become arouse in Uzbekistan, because(a) Historically its territory was a cultural and economic center of a vast empire that stretched across Central Asia into India and Iran, and had a key post in the overland trade route between China and the West. As such, Uzbeks have an historical trading culture(b) Large markets such as Chi