The meeting was organized by the Shanghai Cooperation Organisation (SCO) Business Council.
The conference was intended to develop the cooperation and mutual consultations, as well as the sharing of information between the insurance companies of the SCO member states with the aim of protecting the socio-economic and property interests of individuals and legal entities in the fields of migration and social protection of the population, transportation of goods and cargo, cooperation in the field of investments and financial resources protection.
During the meeting a presentation was held on the "UzbekInvest Company's experience in investments insurance and the ways of cooperation between the insurance companies of the SCO member states for the integration of the insurance markets."
General agreement on the common conditions of faculty reinsurance and retrocession was signed between the Kafolat (Uzbekistan) and Kyrgyzstan (Kyrgyzstan) insurance companies. This agreement was drawn attention to by the Chairman of the SCO Business Council on the part of the Russian Federation D. Mezentsev and other participants of the conference. They stressed that the agreement represented the actual steps from "words" to real practice.
ALSKOM (Uzbekistan) and Soglasiye (Russia) companies signed an agreement on the Russian party's procurement of a share in the ALSKOM worth US$150,000 within the month of May this year.
Also the managers of insurance companies held a number of bilateral meetings with the heads of state, financial and public organizations of Russia, Kyrgyzstan, Tajikistan and China on the subject of cooperation and experience sharing in the fields of preparation, training and improvement of professional qualities of the insurance companies of the SCO member states, organisation of scientific-practical conferences and seminars on the urgent issues in the insurance sector.
Overall, the conference noted the positive trends in the development of the insurance market of Uzbekistan. The suggestions of the Uzbek part on the creation of the task group to work on the development of recommendations on the insurance of investments, export and import operations with due account to the specific features of the national markets of the SCO member states, as well as cooperation in the field of insurance of migration processes were supported by all parties, participants of the SCO Business Council.
Upon the completion of the conference participants also signed a joint communique that stated the parties' shared interest in the development of the insurance services market, and increase in the scale of the insurance business's contribution to the socio-economic development of the SCO member states. (UzReport.com)
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