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Uzbekistan: CLDP Outlines Next Steps in Legislative Reform Project

On Tuesday, March 31, 2020, CLDP met via videoconference with Atabek Nazirov, Director of Uzbekistan’s Capital Markets Development Agency; Amir Sultanov, Deputy Chief of Mission at the Uzbek Embassy in Washington D.C., and Rick Stoddard, Senior Central Asia Advisor in the Office of the Coordinator of U.S Assistance to Europe and Eurasia in the U.S. Department of State. The videoconference resumed a series of live and telephonic meetings CLDP has been convening since January 2020 to coordinate a legislative reform project which will produce new draft laws “On the Regulator” and “On the Capital Markets” in Uzbekistan. In February 2020, Secretary Pompeo announced that the U.S. Government was allocating $1 million to the legal reform effort; CLDP was chosen to implement the project. In addition to outlining CLDP’s progress to date in setting up the unique mechanism for funding parts of the law drafting team, Mr. Cofield outlined the next steps each party was to take in developing the project further. CLDP will next develop a comprehensive checklist of key elements for a successful regulatory regime in a developing market such as Uzbekistan’s. The Embassy of the Republic of Uzbekistan to the United States posted favorable reports on the meeting, with video screenshots, to its accounts on Facebook, LinkedIn, and Twitter.

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