The delegation of General Motors – Daewoo Auto & Technology (GM Daewoo or GMDAT) led by its president Michael Grimaldi met with the Deputy Prime Minister, Finance Minister of Uzbekistan Rustam Azimov in Tashkent on 1 May, UzA reported.

During the meeting the sides exchanged opinions on the issues of further strengthening ties between UzDaewooAuto and GMDAT, expansion within the cooperation framework of the manufacture of products meeting world standards, development and realization of bilateral mutually beneficial projects.

Today the automobile production industry of Uzbekistan has several enterprises equipped with modern technologies. The cars Lacetti, Nexia, Matiz and Damas produced by UzDaewooAuto are enjoying great consumer demand not only in Uzbekistan, but also abroad.

UzDaewooAuto production output was more than 140,000 cars in 2006 and it is planning to produce some 170,000 cars this year. In 2008 the plant will work for its full project capacity which will allow manufacturing up to 200,000 automobiles annually.

"I've once again witnessed that the Uzbek car production industry is developing gradually and Uzbekistan has vast potential in this sphere," Michael Grimaldi said. "Our visit is aimed at further expansion of cooperation with UzDaewooAuto".

Uzbekistan and GMDAT signed a Strategic Cooperation Agreement on results of the negotiations. The document envisages further increase of car production in Uzbekistan and integration of UzDaewooAuto in the global system of GMDAT.

Several contracts and arrangements on new projects between UzDaewooAuto and GMDAT have been reached and signed within the framework of this agreement. The contracts cover cooperation in deed of modernization of Matiz and Nexia cars in compliance with the Euro III standard requirements, training of automobile industry specialists, localization of production.