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Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT CHANGES

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BANKING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. Central Asia Aviation Summit 2026 to Bring Together Key Aviation Stakeholders in Tashkent

   

   The Central Asia Aviation Summit 2026, supported by EUROUZ as an event partner and organised by its member Ato comm, will take place on 17 November 2026 in Tashkent, bringing together representatives of airlines, airports, regulators, leasing companies, technology providers and aviation finance. The Summit will address the development of Central Asia as an aviation hub, regional connectivity and air cargo, digital transformation and AI, aircraft leasing and financing, maintenance readiness, and workforce development. Speakers and panellists will represent organisations including Uzbekistan Airways, IATA, Amadeus, Emirates, Airport Authority Hong Kong, Acron Aviation, Titan Aviation Leasing, FPG Amentum, Etihad Training Academy and TAV Technologies. Through keynote interviews, panel discussions and networking opportunities, participants will explore investment prospects, infrastructure needs and partnerships to support the region’s growing aviation market and connectivity.

   
   Register here

   ---

2. EUROUZ Healthcare and Life Sciences Forum 2026

   

   The EUROUZ Healthcare and Life Sciences Committee will host the forum “Transforming Uzbekistan’s Healthcare: Sustainable Access, Modern Regulation and Safety” on 20 November 2026, from 09:00 to 18:30, at Hyatt Regency Tashkent, bringing together public authorities, healthcare professionals, patient organisations and pharmaceutical industry representatives. The event will explore how public-private cooperation can strengthen access to treatment and support a sustainable, patient-centred healthcare system, with discussions covering health insurance, cancer care, rare diseases, medicine registration and regulation, and healthcare digitalisation. Participants will have the opportunity to exchange expertise, share best practices and identify areas for cooperation.
   
   Register here
   Forum partnership opportunity for EUROUZ members

3. TransLogistica and Securex Uzbekistan 2026 to Showcase Transport and Security Solutions

   

   TransLogistica Uzbekistan 2026 will bring together carriers, freight forwarders and logistics service providers to showcase transport routes, logistics technologies and international freight solutions, creating opportunities to establish partnerships and improve supply-chain efficiency. Meanwhile, Securex Uzbekistan 2026 will present integrated security technologies and services designed to protect people, property and business operations. Both exhibitions will provide platforms for businesses to explore industry developments, connect with potential partners and strengthen commercial ties in Uzbekistan and beyond.
   

   Register here for TransLogistica Uzbekistan
   Register here for Securex Uzbekistan

4. EUROUZ Business Delegation to Davos 2027

   

   EUROUZ invited its member companies to join a business delegation to Davos, Switzerland, from 18–22 January 2027, during World Economic Forum week, offering opportunities to connect with European and international businesses, explore investment partnerships and participate in business meetings, networking events and a planned EUROUZ Business Reception. Three participation packages: GC Gold (fully managed), GC Silver (semi-managed) and GC Orange (self-managed) will be available, with visa support included across all options, alongside sponsorship opportunities. Members are requested to confirm participation by 15 November 2026, finalise Davos registrations by 20 November and initiate visa procedures by 5 December. Participation does not include admission to the official World Economic Forum Annual Meeting.
   
   Register here
   View member participation packages here

   View the delegation presentation here
   For further information, please contact us at info@eurouz.com or +998 95 970 52 77

EUROUZ & MEMBER NEWS

1. Uzbekistan Advances Implementation of National Programme for Safe and Respectful Workplaces

   

   On 15 October 2026, EUROUZ Founder Oybek Shaykhov moderated the conference on Uzbekistan’s National Programme for a Safe and Respectful Working Environment, attended by around 70 representatives, including ministers, ambassadors and international partners. The programme aims to prevent workplace harassment, violence and discrimination through anonymous digital reporting and the training of 700 facilitators across 14 regions, who will support 35,000 public-sector personnel. The event also marked the signing of a cooperation memorandum between the Agency for Management Efficiency and UNFPA.

   ---

2. Official Opening of Belgian Embassy in Uzbekistan

   

   On 16 October, EUROUZ attended the reception marking the official opening of the Embassy of Belgium in Uzbekistan, bringing together government officials, diplomats and business leaders to celebrate bilateral relations. A highlight was the awarding of the Knight’s Cross of Belgium’s Order of the Crown to Pim Sterckx of EUROUZ member Flanders Investment & Trade. EUROUZ looks forward to supporting stronger business ties between Belgium and Uzbekistan.

   ---

3. EUROUZ Holds Quarterly Board Meeting

   

   On 20 October, EUROUZ held its quarterly Board Meeting to review progress and set priorities for the coming quarter, with discussions covering committee structure, member engagement and opportunities to strengthen Europe–Uzbekistan business cooperation. H.E. Toivo Klaar, EU Ambassador to Uzbekistan and non-voting EUROUZ Board member, also joined the meeting for a discussion on upcoming events with the EU Delegation to Uzbekistan.

   ---

4. EUROUZ Attends Uzbekistan International Mining & Metals Forum 2026

   

   On 27–28 October, EUROUZ attended the 8th Uzbekistan International Mining & Metals Forum (UIMF 2026) at Uzexpocentre in Tashkent, organised by Congresses of Central Asia in partnership with EUROUZ member Iteca Exhibitions. Under the theme “From Resources to Global Opportunities”, the Forum brought together over 500 delegates from 19 countries, including government representatives, investors and industry experts, to discuss critical minerals, investment, AI in exploration, advanced mining technologies and the development of value chains through processing and high-tech manufacturing. With 40 speakers and moderators, the event provided a platform for knowledge exchange, international cooperation and new business opportunities in Uzbekistan’s mining and metals sector.

   ---

5. EUROUZ welcomes a new member – BLC Law Office

   

   Operating in Georgia and Uzbekistan, BLC Law Office provides legal services to local and international businesses, helping them navigate the legal and regulatory frameworks of both markets. The firm offers multidisciplinary, business-focused legal solutions tailored to clients’ commercial objectives, with expertise supporting market entry, investment and cross-border projects. We look forward to strengthening connections, supporting European and Uzbek businesses and fostering new opportunities for cooperation across the region.

   ---

6. EUROUZ welcomes a new member – JW Marriott Hotel Tashkent

   

   JW Marriott Hotel Tashkent is Uzbekistan’s first JW Marriott property, combining Uzbek heritage with contemporary luxury next to Tashkent City Park and City Mall. The hotel features 284 guestrooms, 42 suites, three dining venues, La Vallée SPA Switzerland and over 1,693 sqm of event space, including an 818-sqm Grand Ballroom. As part of Marriott International, the hotel contributes to the development of Uzbekistan’s hospitality sector and its growing appeal for international business and tourism. We look forward to welcoming the team to the EUROUZ community and exploring opportunities for cooperation.

   ---

7. EUROUZ welcomes a new member – APRI International

   

   APRI International is the international hub of Italy’s professional system, supporting Italian professionals and companies in expanding into international markets in cooperation with Confprofessioni. Through its global network of Senior Advisors, the organisation provides legal, tax, corporate and business advisory services, while facilitating institutional missions, business forums and knowledge-sharing initiatives. As a EUROUZ member, APRI International aims to strengthen ties with Uzbek institutions and businesses and support Italian companies interested in investing and operating in Uzbekistan.

Did you know that EUROUZ members and ALL their employees can access the Uzbek.Review portal free of charge as long as their organization remains a member?

Not a member yet?

Join EUROUZ to access exclusive market support for your business activities in the country.

1. INTERNATIONAL COOPERATION

1.1 EUROPE

Uzbekistan and France Discuss New Investment Projects

On 26 October, Uzbekistan and France discussed expanding investment and trade cooperation during a meeting between Deputy Minister Ilzat Kasymov and Gérard Wolf, the French Minister for Europe and Foreign Affairs’ special representative for sustainable cities and transport. Representatives of Alstom, SUEZ, Veolia, EDF, IVECO and other French companies explored potential joint projects in energy, transport, water supply, urban infrastructure, digitalisation and tourism, with a focus on introducing French technologies and attracting investment to Uzbekistan.

International Business Forum “Tracks to the Future” Held in Tashkent

On 27 October, the Ministry of Investment, Industry and Trade of Uzbekistan and Global Neighbours organised the international business forum “Tracks to the Future” in Tashkent, bringing together government officials and business representatives. Discussions focused on strengthening trade and investment ties between Europe, Central Asia and China, with particular attention to transport connectivity, industrial cooperation, digitalisation and investment opportunities. The programme also featured a roundtable and B2B and G2B meetings to facilitate direct business contacts and explore joint projects.

1.2 CENTRAL ASIA, CAUCASUS & CIS

Uzbekistan and Georgia Explore Trade and Investment Projects

On 28–29 October, Uzbekistan and Georgia held a joint business mission in Tashkent to strengthen bilateral trade, industrial cooperation and investment ties. Organised with the support of Uzbekistan’s Ministry of Investment, Industry and Trade and Chamber of Commerce and Industry, the mission brought together Georgian companies, including representatives of the Investment Chamber of Georgia and Tbilisi Free Industrial Zone, for B2B and B2G meetings with Uzbek counterparts. The programme also included visits to New Tashkent and IT Park Uzbekistan to explore investment opportunities and potential joint projects.

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Support by Sharing Uzbek.Review

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT CHANGES

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BANKING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. Compliance Champions Forum 2026

   

   EUROUZ is pleased to support the Compliance Champions Forum 2026, organised by EUROUZ member ICCP Central Asia, taking place on 21–23 October 2026 at City Palace Hotel in Tashkent. The Forum will bring together compliance professionals, regulators, business leaders and experts from Central Asia and the Caucasus to exchange experience, discuss key industry challenges and strengthen regional cooperation. The programme will cover compliance, corporate governance, regulatory practice, risk management and ethical business conduct, alongside valuable networking opportunities. EUROUZ encourages members and partners working in compliance, legal, risk management and corporate governance to participate and connect with the wider regional compliance community.

   
   21–23 October 2026
   City Palace Hotel, Tashkent
   

   EUROUZ members can register under the dedicated “EUROUZ member” participation category.

   
   Register here

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2. ABM Technik Open House 2026 | Technologies for Modern Manufacturing

   

   EUROUZ member ABM Technik invites manufacturing professionals and industry partners to its Open House 2026, taking place in Tashkent from 27–29 October. The event will feature live equipment demonstrations and technical consultations covering milling, turning and 5-axis machining, precision gear machining, CAD/CAM and digital manufacturing, mould and die production, as well as equipment servicing and modernisation. Participants will have the opportunity to discuss production challenges with specialists, discover innovative technologies and explore practical solutions for their businesses.
   

   27–29 October 2026 | 10:00–17:00
   Vordek, Kushbegi Industrial Zone, Block 10-B, Tashkent

   Free participation with advance registration.

   A transfer will be available from the main entrance arch of Uzexpocentre. Look for the ABM Technik sign.
   

   Registration and enquiries: +998 55 501 07 02 / +998 97 702 65 55
   Website: www.abm-technik.de

EUROUZ & MEMBER NEWS

1. EUROUZ Re-launches Its ESG Committee for the 2026/27 Cycle

   

   On 30 September, EUROUZ members gathered at the association’s office for the first meeting of the ESG Committee’s new cycle. Roman Dovolnov, Climate Change and Sustainability Services Leader at EY Uzbekistan, was appointed Chairperson, while Tatiana Miroshnichenko, Executive Director of GCF Eurasia, was appointed Co-Chairperson. During the meeting, members approved the Committee’s concept and programme of activities for 2026/27, shaped by a survey conducted among members in August. The Committee will bring together member companies to discuss ESG strategy, governance and reporting, regulatory developments, and their practical implementation in Uzbekistan.

   
   EUROUZ welcomes Roman and Tatiana in their new roles and thanks all participants for their contributions. Members interested in joining the Committee or its thematic working groups are invited to get in touch.
   

   Event photos

   ---

2. Appointment of the EUROUZ Board Leadership for 2026–2028 term

   

   The newly elected Board of Directors of the Europe–Uzbekistan Association for Economic Cooperation (EUROUZ) has confirmed Pierre-Paul Antheunissens, CEO of EDF Central Asia and EDF Power Solutions, to continue serving as Chairman of the Board, and appointed Oybek Shaykhov, Executive Chairman of East-West Group and EUROUZ Founder, as the new Treasurer of the Board. The EUROUZ Secretariat looks forward to working closely with the Board leadership throughout the 2026–2028 term to advance the association’s strategic priorities and strengthen cooperation with its members and partners.

   ---

3. EUROUZ HR & Capacity Building Committee: Growth Without Losing Control

   

   On 6 October, the EUROUZ HR & Capacity Building Committee held its first open event of the season at Swissôtel Tashkent, in partnership with PwC, focusing on how businesses can scale while keeping complexity and costs under control. The programme featured expert sessions by Zhanargul Izimova, Director of the Banking Practice at PwC Eurasia; Tatiana Herman, Senior Manager in Workforce Consulting at PwC Uzbekistan; and Alexandra Morozova, Senior Manager at PwC Uzbekistan, covering organisational design, human capital, and the tax and legal implications of organisational change. The panel, moderated by Venera Erzina, CHRO at Ipoteka Bank OTP Group and Chair of the Committee, brought together Abdulkhamid Muminov of PwC Central Asia and Caucasus, Anvar Isamukhamedov of Paynet, Dr Jon Zaidi of Acwa, and Eugene Antonov of GreenFarm, OTP Group. Discussions explored how organisational structure, human capital and technology can drive efficiency, what businesses should prioritise when scaling, and how to ensure technology does not reinforce existing inefficiencies.

   Event photos

   ---

4. Georgia-Uzbekistan Silk Road Business Forum: Building Bridges for Business

   

   On 7–8 October, EUROUZ supported the Georgia–Uzbekistan Silk Road Business Forum and Exhibition in Tashkent, organised by its member, the Sales Association of Georgia, in partnership with EUROUZ and the Chamber of Commerce and Industry of Uzbekistan. The event gathered 200+ business representatives, showcased 40+ Georgian companies, and facilitated 35+ B2B meetings with leading Uzbek businesses. EUROUZ thanks all partners and participants for strengthening Georgia–Uzbekistan economic ties and fostering new business opportunities.

   ---

5. EUROUZ Strengthens Cooperation with EuroCham Hong Kong and HKGCC

   EUROUZ Founder and Board Member Oybek Shaykhov held meetings in Hong Kong to strengthen international partnerships and exchange best practices. With EuroCham Hong Kong, he presented the EUROUZ membership passport, inspired by its counterpart developed for EuroCham members. Discussions with Ms. Choi Ching Yng, Head of International Relations at the Hong Kong General Chamber of Commerce, explored opportunities for further engagement in 2027. EUROUZ thanks its Hong Kong partners for their hospitality and looks forward to continued cooperation.

   ---

6. Luxembourg–Uzbekistan Business Forum

   

   On 8–9 October, EUROUZ supported the Luxembourg–Uzbekistan Business Forum and B2B Meetings as an event partner, organised by its member, the BeNeLux Chamber of Commerce Uzbekistan, alongside the Luxembourg Chamber of Commerce and the Honorary Consulate of Luxembourg in Tashkent. Held as part of Luxembourg’s business mission to Uzbekistan, the forum connected companies across finance, logistics, ICT and AI, media, consulting, healthcare and pharmaceuticals. Presentations, discussions and targeted B2B meetings enabled participants to exchange market insights, establish contacts and explore partnerships. EUROUZ thanks the organisers and participants for helping strengthen business ties between Luxembourg and Uzbekistan.

   ---

7. EUROUZ welcomes a new member – Sarbon University

   

   Established in 2024 and headquartered in Tashkent, Sarbon University is a higher education institution focused on academic excellence, professional development, research, innovation and the digital transformation of education. Its activities span undergraduate education, international cooperation, research and innovation, digitalisation, and student development, with a growing emphasis on integrating digital technologies and artificial intelligence into the learning process. We look forward to fostering new connections, strengthening international partnerships and creating opportunities for cooperation between academia and the European business community.

   ---

8. EUROUZ welcomes a new member – White Star Real Estate (WSRE)

   

   Founded in 1992, White Star Real Estate (WSRE) is a vertically integrated real estate platform headquartered in Warsaw and Delaware, covering the full property lifecycle. The group has delivered 70+ projects worth over EUR 2.8 billion across multiple real estate sectors and developed more than 150 MW of battery storage, wind and solar projects through White Star Energy. In 2026, WSRE expanded into Uzbekistan and Central Asia, focusing on commercial real estate, energy and infrastructure. EUROUZ looks forward to supporting the group in developing partnerships and exploring opportunities across the region.

   ---

9. EUROUZ welcomes a new member – UzCarlsberg

   

   UzCarlsberg is one of Uzbekistan’s leading brewing companies, producing and distributing beer and other beverages from its modern Tashkent brewery. Part of international beverage group CBC Group, the company produces internationally recognised brands, with the EBRD among its shareholders. Focusing on sustainability, responsible production and operational excellence, UzCarlsberg contributes to local employment and the development of Uzbekistan’s beverage industry. EUROUZ looks forward to supporting the company in strengthening international business ties and exploring new opportunities for cooperation and growth.

Did you know that EUROUZ members and ALL their employees can access the Uzbek.Review portal free of charge as long as their organization remains a member?

Not a member yet?

Join EUROUZ to access exclusive market support for your business activities in the country.

1. INTERNATIONAL COOPERATION

1.1 EUROPE

Uzbekistan and Denmark Discuss Expanding Bilateral Cooperation

On 2 October, President Shavkat Mirziyoyev met with Danish Foreign Minister Lars Løkke Rasmussen to discuss expanding Uzbek-Danish cooperation across political, trade, economic and cultural spheres. Bilateral trade has increased almost fivefold in recent years, with Danish companies involved in projects across mining, chemicals, agriculture, food production and water supply. Both sides highlighted opportunities to increase trade and Danish investment, particularly in energy, pharmaceuticals, transport, logistics and agro-industry, while strengthening cooperation in education, culture and tourism. The meeting concluded with an agreement to reinforce the institutional and legal framework for further bilateral cooperation.

Uzbekistan and the UK Advance Trade and Investment Cooperation
The second meeting of the Uzbek-British Economic Committee, co-chaired by Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov and UK Minister of State for Trade Anas Sarwar, focused on expanding bilateral trade and investment. Trade reached nearly US$250 million in January–August 2026, up 12.6% year-on-year, with discussions covering improved UK market access for Uzbek goods and simplified certification. The sides reviewed 46 joint projects involving UK Export Finance and cooperation in the Tashkent International Financial Centre, critical minerals, pharmaceuticals and engineering. The meeting concluded with a protocol formalising cooperation in trade, investment, industry, digital technologies, finance and healthcare.

1.2 CENTRAL ASIA, CAUCASUS & CIS

World Bank: Middle Corridor Could Triple Trade by 2040
A World Bank report published on 28 September finds that investment in the Trans-Caspian International Transport Route (Middle Corridor) could more than triple trade and create two million additional jobs by 2040. The report identifies US$25.1 billion in priority infrastructure projects and a further US$30 billion in supporting investments across nine countries, including Uzbekistan, to improve transport, logistics and digital systems. It recommends harmonising customs procedures, digitalising trade documentation and strengthening cross-border coordination to reduce costs and transit times. For Uzbekistan, the corridor offers opportunities to expand access to European and Asian markets, attract investment and develop logistics services.

Uzbekistan Proposes New Regional Cooperation Initiatives with Central Asia and Azerbaijan
On 8 October, President Shavkat Mirziyoyev proposed expanding regional cooperation in trade, transport, energy, water management, critical minerals and digital technologies at the eighth Consultative Meeting of Central Asian Leaders and Azerbaijan in Turkmenistan. Key initiatives included a “six economies — one product” approach to joint manufacturing, a Central Asia–Azerbaijan Business Forum in Khiva in 2027, and a proposed Regional Alliance for Critical Minerals. The proposals also covered shared AI infrastructure, low-carbon energy, water efficiency and air pollution. The summit concluded with a Joint Statement and the signing of multilateral cooperation documents.

Uzbekistan and Georgia Target $1 Billion in Bilateral Trade

Uzbekistan and Georgia held the 11th meeting of their Intergovernmental Commission on Economic Cooperation on 13 October in Tsinandali, focusing on expanding bilateral trade to $1 billion and strengthening cooperation in industry, construction, agriculture, energy and finance. The parties highlighted the development of the Trans-Caspian transport route and the establishment of an Uzbek logistics centre at Georgia’s Port of Poti, where the first pilot shipment of Uzbek products to Europe has already been completed. Discussions also covered expanding air connectivity, tourism and interregional cooperation, with the next commission meeting scheduled for spring 2027 in Uzbekistan’s Tashkent Region.

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ADDRESS:  Avenue Louise 65/11, 1050 Brussels, Belgium

EMAIL: info@eurouz.com

COPYRIGHT © 2024 - ALL COPYRIGHTS RESERVED

You may download the PDF report by clicking on the

Read more

Support by Sharing Uzbek.Review

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT CHANGES

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BANKING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. Growth Without Losing Control: Scaling a Business Without Adding Complexity, Cost and Inertia

   

   The EUROUZ HR & Capacity Building Committee, in partnership with PwC, invites members to a focused discussion on one of the key challenges facing growing organizations: how to scale while keeping complexity, management costs, and internal inertia under control. The session will explore organisational design, human capital and technology as interconnected elements of the growth model, with business leaders and HR professionals sharing practical approaches, experiences and lessons learned.

   
   6 October 2026
   09:30–12:30
   Swissôtel Tashkent
   Russian | English

   Places are limited, register now: LINK

   ---

2. Georgia–Uzbekistan Silk Road Business Forum & Exhibition
   

   

   EUROUZ is pleased to invite its members and partners to the “Georgia–Uzbekistan Silk Road” Business Exhibition, organized by its member, the Sales Association of Georgia in partnership with EUROUZ and the Chamber of Commerce and Industry of Uzbekistan. The event will bring together around 40 Georgian companies and representatives of Uzbekistan’s business community, providing a strong platform for direct B2B meetings, networking and new partnerships.

   
   7 October | International Conference | 10:30–14:30

   8 October | Business Exhibition | 10:00–17:00

   JW Marriott Hotel Tashkent

   
   Key sectors include IT, construction and real estate, healthcare, logistics and automotive, FMCG, education and more.

   Registration is mandatory: link

   More information: link

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3. Choose Your Expert Presence at UIMF 2026

   

   The Uzbekistan International Mining & Metals Forum — UIMF 2026 is just a few weeks away and will bring together mining and metals industry leaders, government representatives, major companies and international experts from Uzbekistan and Central Asia. For EUROUZ members looking to strengthen their presence in this growing sector, UIMF 2026 offers an opportunity to participate as industry experts and showcase their expertise to a targeted professional audience.
   
   Members can choose the format of expert presence that best suits their business — from sharing industry insights and presenting solutions to contributing to discussions and engaging directly with key industry and government decision-makers. Secure your place in the Forum programme, raise your company’s visibility and connect with potential clients and partners.
   

   Position your company where the mining and metals industry is scaling up: uimf.uz/en/request-form

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4. Unlock New Business Opportunities in Central Asia: Three Major Industry Exhibitions in Tashkent

   

   From 21–23 October 2026, CAEx Uzbekistan will host three international B2B exhibitions — Automechanika Tashkent, Comtrux Tashkent and Bautrux Tashkent — bringing together the automotive aftermarket, commercial transport and construction machinery industries. Organised by Business Media Central Asia (BMCA), the official representative of Messe Frankfurt in Uzbekistan, the exhibitions will feature 500+ companies from 18 countries, offering industry professionals opportunities to discover new technologies, expand their business networks and connect with potential partners across Central Asia. The business programme will also cover key industry topics including vehicle fleets, OEM and aftermarket, global supply chains, smart logistics, commercial transport, and construction machinery technologies and ownership models. Shell Lubricants will serve as the General Partner of Automechanika Tashkent for the third consecutive year.
   
   21–23 October 2026

   CAEx, Tashkent
   
   Get your visitor badge: automechanika.uz/en

   More information: https://comtrux.uz/en | https://bautrux.uz/eng

EUROUZ & MEMBER NEWS

1. EUROUZ Brings Uzbek Businesses to Brussels for a Three-Day Business Delegation | 23–25 September

   

   The first day of the EUROUZ Business Delegation Programme in Brussels successfully concluded with a visit to the European Parliament, following a day of productive meetings, meaningful discussions and valuable new connections. The programme created new opportunities for deeper dialogue and future cooperation between Uzbekistan and the European Union. We sincerely thank the European Parliament for its warm welcome and hospitality, as well as our EUROUZ members for their continued support and active participation. Each meeting and connection brings European and Uzbek businesses closer together, strengthening the foundation for long-term cooperation.

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2. 35th Anniversary of the Independence of the Republic of Uzbekistan in Brussels | 24 September

   

   On 24 September, EUROUZ, in partnership with the Embassy of Uzbekistan in Brussels, brought together nearly 300 distinguished guests to celebrate the 35th Anniversary of the Independence of the Republic of Uzbekistan. The reception gathered diplomatic representatives, government officials, business leaders, international institutions, and members of the European and Uzbek business communities, providing a valuable platform for dialogue, connection and partnership and reflecting the growing ties between Uzbekistan and Europe.
   

   Press release

   A special thank you to our sponsors of the evening for their valuable support in making this memorable event possible:
   

   Platinum Sponsor: European Investment Bank (EIB Global) | Gold Sponsors: ADM Global, CJ ICM Logistics | Silver Sponsors: Ahlers Logistics, Crowe Uzbekistan, KDB Bank Uzbekistan, Paynet.

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3. EUROUZ Business Breakfast at the Embassy of Uzbekistan in Brussels | 25 September

   

   On 25 September, EUROUZ, together with the Embassy of Uzbekistan in Belgium, hosted a Business Breakfast bringing together key representatives from Uzbekistan and Europe. We were honoured to welcome Myriam Ferran, Deputy Director-General of DG INTPA, and Leon Delvaux, Director at DG TRADE of the European Commission. The breakfast provided a valuable platform for open dialogue on existing projects, B2B meetings held during the business trip, newly established connections and opportunities for further cooperation between Uzbekistan and Europe, with discussions focused on developing joint initiatives and creating new opportunities for businesses through closer engagement with European institutions and partners. Special thanks to H.E. Gayrat Fazilov, Ambassador of Uzbekistan to the Benelux Countries and Head of the Missions and NATO, for hosting the breakfast at the Embassy of Uzbekistan and bringing together such an important group of partners for meaningful dialogue.

   ---

4. Visit to the European Investment Bank with Business Delegation | 25 September

   

   On 25 September, the final day of the EUROUZ Business Delegation Programme took the delegation to Luxembourg and the Headquarters of the European Investment Bank (EIB). The visit provided an insightful opportunity to learn more about the EIB’s role, its impact across Europe, and the opportunities it offers to businesses and institutions, marking a valuable conclusion to an intensive programme of meetings, B2B discussions and new connections. Special thanks to Olivier Kueny, Head of EIB Regional Representation for Central Asia, and Davide Monguzzi, Senior Loan Officer at the EIB, for their warm welcome, support and contribution to making this visit possible.

   ---

5. EUROUZ and Insuco Explore Opportunities for Cooperation

   

   On 25 September, EUROUZ was pleased to meet with representatives of Insuco, including Dr. Pascal Rey, President-Director General and Chief Executive Officer, and Margot Petitpierre, General Director Asia. The meeting provided an opportunity to learn more about Insuco’s activities, regional experience and areas of expertise, as well as its engagement in Uzbekistan. The discussion focused on areas of mutual interest, opportunities for closer engagement with the EUROUZ community, and potential avenues for future cooperation between Insuco and Uzbekistan’s business community.

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6. EUROUZ Board of Directors Monthly Check-In

   

   EUROUZ held its Board of Directors Monthly Check-In to review recent developments, align on upcoming priorities and discuss key areas of activity. The Board also established its leadership for the next term, with Pierre-Paul Antheunissens continuing as Chairman and Oybek Shaykhov appointed as Treasurer. Discussions covered upcoming plans and events, opportunities to strengthen engagement with members and partners, and the recent EUROUZ Business Delegation to Brussels, including its institutional meetings, business engagements and new connections. The meeting provided a valuable opportunity to align on next steps and build on EUROUZ’s growing activities in Uzbekistan and Europe.

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7. EUROUZ Executive & Diplomatic Leaders Club Breakfast | 30 September

   

   On 30 September, EUROUZ hosted an exclusive Executive & Diplomatic Leaders Club Breakfast, bringing together senior representatives of the European Commission, EU Delegation to the Republic of Uzbekistan, and CEOs and senior executives of European member companies. The European Commission delegation was headed by Pēteris Ustubs, Director for Asia and the Pacific, DG INTPA, and Charlotte Adriaen, Head of Unit for Central Asia and Afghanistan, DG INTPA. The closed-door breakfast provided a platform for direct dialogue on European business activities in Uzbekistan, major investment projects, practical challenges faced by investors, and opportunities to strengthen cooperation between EU institutions and the private sector. CEOs and senior executives also shared first-hand market perspectives and discussed how closer engagement could support new investment, stronger partnerships and continued EU–Uzbekistan economic cooperation.

   ---

8. EUROUZ welcomes a new member – ato comm.

   

   ato comm is an international aviation events and communications company focused on connecting aviation stakeholders across Central Asia, the Caucasus, the Balkans and South-East Europe. Through its portfolio of industry platforms, ato comm brings together airlines, airports, regulators, manufacturers, MRO providers, technology companies and other aviation leaders to exchange expertise, explore new partnerships and discuss the future development of the sector. Its flagship events include the Central Asia Aviation Summit, Central Asia Air Cargo Summit, MRO Central Asia, Aero Engines Central Asia, Central Asia: Digital Aviation Forum, as well as aviation-focused summits across the Balkans.

Did you know that EUROUZ members and ALL their employees can access the Uzbek.Review portal free of charge as long as their organization remains a member?

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1. INTERNATIONAL COOPERATION

1.1 EUROPE

Portugal Advances Ratification of EU–Uzbekistan Partnership Agreement
Portugal formally notified completion of its national procedure concerning the EU–Uzbekistan Enhanced Partnership and Cooperation Agreement on 15 September. The agreement was signed in Brussels on 24 October 2025 and has been provisionally applied since 1 March 2026. It provides a broader legal framework for cooperation in trade, investment, transport, energy and regulatory matters. Portugal’s notification represents a further step in the ratification process required for the agreement’s full entry into force.

Team Europe Expands Regional Engagement in Fergana and Namangan
On 15–16 September, Team Europe representatives visited the Fergana and Namangan regions to strengthen cooperation with regional authorities and review EU-supported initiatives. The delegation included the EU Ambassador to Uzbekistan and representatives of Bulgaria, Finland, Greece, Latvia, Poland, Romania, Slovakia and Spain. In Fergana, discussions covered opportunities to attract European investment and expertise and expand business exchanges with EU Member States. The mission also included meetings with beneficiaries and partners involved in EU-funded projects.

Uzbekistan Secures 10,000-Tonne Fertiliser Supply Agreement with France
Uzbek chemical companies participating in the SPACE 2026 exhibition in Rennes on 15–17 September reached a concrete supply agreement with a European buyer. Uzkimyoimpeks and Eudaira agreed on the delivery of 10,000 tonnes of mineral fertilisers to France by the end of 2026. Uzbekistan has also set a longer-term objective of increasing annual fertiliser exports to the European Union to $500 million. EU countries imported $233.5 million of Uzbek fertilisers in 2025, according to UN Comtrade data cited by the government.

Uzbekistan and AFD Outline €1.125 Billion Cooperation Pipeline
Uzbekistan and the French Development Agency agreed key priorities for cooperation during 2027–2030 following annual consultations in Tashkent. An indicative portfolio of 11 projects worth approximately €1.125 billion covers energy and transport infrastructure, irrigation, agriculture, urban development, green economy projects and non-sovereign financing. Nine projects worth €604.2 million are currently under preparation, while AFD’s existing Uzbekistan portfolio comprises 13 projects valued at €1.29 billion. The sides also agreed to accelerate preparation and implementation of ongoing and planned projects.

Uzbek Exporters Secure New Agreements in France and Poland
Uzbek food, textile and electrical companies secured new export agreements during business missions and Made in Uzbekistan roadshows held in France and Poland on 21–26 September. Agreements in France covered specialist training, raisin exports and the first shipment of copper products by Infinity Copper Group. Negotiations in Poland resulted in agreements covering frozen cherries, raisins, ready-made garments, copper and cable products. The missions also focused on expanding storage, distribution and promotion channels for Uzbek products in European markets.

Infinity Copper Group Plans $5 Million Initial Exports to France
Infinity Copper Group reached agreements to expand exports of Uzbek copper products to France and Poland during business missions held on 21–26 September. The company plans initial copper exports worth $5 million to the French market and presented product samples to prospective partners. In Poland, discussions focused on cooperation with importers and distributors and on expanding supplies to Central and Eastern European markets. The agreements provide a concrete commercial channel for increasing Uzbekistan’s electrical engineering exports to Europe.

EU and Uzbekistan Advance Trans-Caspian Corridor Investment and Reforms
The European Union and Uzbekistan convened the second national Trans-Caspian Transport Corridor conference in Tashkent on 30 September to advance investment and reforms supporting connectivity between Central Asia and Europe. Discussions covered railway and road infrastructure, logistics networks, border procedures, transport digitalisation and greater private-sector participation. Government representatives, international financial institutions, development partners and businesses also examined priority investment proposals. The conference forms part of the EU-funded Global Gateway Trans-Caspian Transport Corridor Coordination Platform.

1.2 CENTRAL ASIA, CAUCASUS & CIS

Uzbekistan and Kazakhstan Launch Working Group for Seamless Transit
Uzbekistan and Kazakhstan agreed on 16 September to establish a bilateral working group to implement a “seamless transit” mechanism for international road transport. The initiative will simplify and digitalise procedures, reduce administrative barriers and support a gradual transition to electronic documentation. The two sides also reached a preliminary agreement to introduce electronic permits for irregular international passenger transport from 2027. The measures are intended to increase freight and passenger flows and improve transport connectivity between the two countries.

Central Asian Trade Rises 25.4% to $8.1 Billion
Intra-regional exports among the five Central Asian economies reached $8.1 billion in January–July 2026, an increase of 25.4% year on year. Kazakhstan and Uzbekistan accounted for more than 80% of regional shipments, with Uzbek exports to neighbouring countries rising 34.5% to around $2 billion. Uzbekistan’s trade with Kyrgyzstan increased by more than half, while trade with Tajikistan rose by 45%. The figures indicate continued expansion of regional supply chains and cross-border commercial activity.

Uzbekistan Expands Caspian and Black Sea Logistics Network
Uzbekistan is advancing plans to develop logistics infrastructure at Caspian and Black Sea ports as part of its strategy to diversify international freight routes. Uzbek and Georgian partners have signed an agreement to establish warehousing and transport facilities at Georgia’s Poti port, with a feasibility study planned. Uzbekistan is also examining participation in infrastructure at Aktau, Turkmenbashi and Baku and potential involvement in Georgia’s Anaklia port. The projects would strengthen Uzbekistan’s access to the Middle Corridor and European markets.

Uzbekistan Considers Nakhchivan Railway Link to Turkish Ports
Uzbekistan is considering participation in a railway project through Azerbaijan’s Nakhchivan region that could provide additional access to Türkiye and its ports. The route would support connections towards Samsun and Istanbul and form part of broader efforts to diversify Uzbekistan’s international transport corridors. The proposal was reviewed alongside plans for logistics infrastructure at Caspian ports in Azerbaijan, Kazakhstan and Turkmenistan. Developing alternative routes is particularly relevant for lowering the logistical constraints faced by Uzbekistan as a double-landlocked economy.

ECO States Revive Ministerial Industrial Cooperation After 20 Years
Economic Cooperation Organization member states resumed ministerial-level industrial dialogue at a meeting in Dushanbe on 23 September, the first such gathering in 20 years. Uzbekistan proposed strengthening cooperation through joint industrial projects, investment, technology exchange and deeper production linkages. Uzbekistan’s trade with ECO members exceeded $14.3 billion in 2025 and rose 20.7% year on year to $8.9 billion in the first seven months of 2026. The renewed mechanism provides an additional platform for regional industrial and investment cooperation.

Uzbekistan Steps Up Middle Corridor Freight Cooperation with Azerbaijan
Uzbekistan is increasing freight transport through the Middle Corridor with Azerbaijan as it seeks to strengthen alternative connections with European and Gulf markets. Investment and Industry Minister Laziz Kudratov highlighted transport connectivity, industrial cooperation, green energy and mutual investment during the Azerbaijan International Investment Forum in Baku on 25 September. Uzbekistan is seeking greater use of Caspian infrastructure and stronger coordination with regional partners along the corridor. The route is becoming increasingly important to the country’s trade diversification strategy.

Uzbekistan–Kazakhstan Border Crossing Set for Reopening After Reconstruction
Uzbekistan plans to commission the reconstructed Gishtkuprik border customs post with Kazakhstan in the fourth quarter of 2026, according to information released on 29 September. The crossing has been closed for reconstruction since February 2025, affecting one of the principal road links between the two countries. The upgraded checkpoint is expected to accommodate truck traffic and improve processing capacity at the border. Its reopening should support bilateral freight flows and the expanding trade relationship between Central Asia’s two largest economies.

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Support by Sharing Uzbek.Review

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT CHANGES

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BANKING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. EUROUZ ESG Committee Meeting

   

   The ESG Committee is resuming its work. The meeting on 30 September marks the start of the 2026/27 cycle. In August we surveyed our members to identify the themes they consider most relevant. The findings shape the agenda presented at this meeting, and members will have the opportunity to contribute to the programme from the outset — as speakers, through practical case studies, and by proposing topics for future sessions.
   
   30 September 2026
   14:00–15:30
   ITC / EUROUZ Office
   Hybrid format
   Open to EUROUZ members
   
   Places are limited, register now: LINK

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2. Georgia–Uzbekistan Silk Road Business Forum & Exhibition

   

   EUROUZ is pleased to invite its members and partners to the “Georgia–Uzbekistan Silk Road” Business Exhibition, organized by its member, the Sales Association of Georgia in partnership with EUROUZ and the Chamber of Commerce and Industry of Uzbekistan. The event will bring together around 40 Georgian companies and representatives of Uzbekistan’s business community, providing a strong platform for direct B2B meetings, networking and new partnerships.
   
   7 October | International Conference | 10:30–14:30
   8 October | Business Exhibition | 10:00–17:00
   JW Marriott Hotel Tashkent
   
   Key sectors include IT, construction and real estate, healthcare, logistics and automotive, FMCG, education and more.
   
   Registration is mandatory: link
   More information: link

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3. Central Asia’s Textile Hub Comes Alive: Heimtextil, Texworld And Apparel Sourcing Return To Tashkent This October

   

   The three exhibitions will bring together textile manufacturers, international buyers, sourcing professionals and industry leaders from across Europe, Asia and the CIS, covering fabrics, garments, accessories and home textiles.

   
   Following a strong 2025 edition with 219 exhibitors and nearly 4,000 trade visitors from 42 countries, this year’s events will feature expanded international participation, a Hosted Buyer Programme, SME Pavilion, B2B meetings and an industry conference programme.
   

   12–14 October 2026
   NEC Uzexpocentre, Tashkent
   
   Media Contacts

   +998 55 515 05 22

   📧 heimtextil@bmca.uz | texworld@bmca.uz | apparel-sourcing@bmca.uz

   🌐 www.heimtextil.uz | www.texworld-apparel.uz

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4. TransLogistica Uzbekistan: Where Business Growth Meets Regional Connectivity

   

   On 10–12 November 2026 at Uzexpocentre, TransLogistica Uzbekistan will bring together companies and experts shaping the future of transport and logistics in Uzbekistan and Central Asia. For EUROUZ members, the exhibition is an opportunity to explore the infrastructure behind efficient trade and business expansion: new transport routes, supply-chain solutions, warehousing and distribution, cross-border logistics, digital technologies and potential partners. Whether you operate in manufacturing, FMCG, retail, agriculture, energy, technology or other sectors, understanding how goods move across the region can be critical to reducing costs, improving supply-chain resilience and accessing new markets.

   
   Looking to strengthen your logistics capabilities or position your company within Central Asia’s growing trade network? Reserve your stand at TransLogistica Uzbekistan 2026 https://trans.uz/en/stand-reservation

EUROUZ & MEMBER NEWS

1. EUROUZ Back to Work Jazz Night | 11 September

   

   On 11 September, EUROUZ officially opened the new working season with a memorable Jazz Night, bringing together ambassadors, members, partners, representatives of ministries and the wider business community. The evening was filled with live music, meaningful conversations, laughter and warm reunions - a wonderful opportunity to reconnect with our community after the summer break. We are looking forward to a busy and exciting season ahead, with many more events, initiatives and updates to come.
   
   Event photos
   
   A special thank you to our sponsors of the evening for their valuable support in making this memorable event possible:
   
   Acwa | ALKES |CROWE Uzbekistan | Coca-Cola

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2. EUROUZ and World Economic Forum Explore Business Cooperation in Uzbekistan

   

   On 15 September, EUROUZ was pleased to welcome Marwen Garbaa, Head of Partnership Development, and Dietrich John, Community Lead for Europe and Eurasia, from the World Economic Forum. During the meeting, the WEF representatives presented the Forum’s work with business communities and the different platforms available for companies, associations and other stakeholders to engage in its initiatives. The discussion focused on areas of mutual interest, opportunities to deepen engagement with Uzbekistan’s business community, and the role of international platforms in strengthening dialogue, cooperation and private-sector development.

   ---

3. EUROUZ Welcomes Italian Business Delegation to Strengthen Bilateral Cooperation

   

   EUROUZ was pleased to welcome an Italian business delegation, led by representatives of Italy4Trade and APRI International, to its office in Tashkent. The meeting brought together EUROUZ member Italy4Trade International, represented by Liliana Ursu Pugnetti, and representatives of APRI International to discuss opportunities for closer engagement with the EUROUZ business community. The discussion focused on strengthening Italy–Uzbekistan business cooperation, developing educational and professional initiatives, and exploring opportunities for larger joint events involving companies, entrepreneurs and institutions from both countries.

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4. Strengthening Finland–Uzbekistan business partnerships

   

   EUROUZ was honoured to welcome H.E. Maria Ågren, Ambassador of Finland to Uzbekistan, to our office, together with Tarja Teittinen & Altyn Shakirkhanova of EastCham Finland, our longstanding partners and EUROUZ members. EUROUZ's close cooperation with EastCham provides a strong foundation for new joint initiatives. We discussed opportunities to expand business exchanges, organise company visits and develop sector-focused activities that bring Finnish and Uzbek businesses closer together.

   ---

5. EUROUZ was honoured to meet H.E. Matthias Vollert, Ambassador of the Federal Republic of Germany to Uzbekistan

   

   The meeting provided an opportunity to exchange views on the strong and growing ties between Germany and Uzbekistan and to discuss ways to further strengthen cooperation between the Embassy and EUROUZ.

   ---

6. Uzbekistan and Germany Advance Strategic Raw Materials Dialogue
   Uzbekistan’s Minister of Mining Industry and Geology met a German delegation led by Mangold Consulting GmbH Chairman Klaus Mangold. The Uzbek Technological Metals Complex presented its work on the development and processing of strategic mineral resources, while Mercedes-Benz AG presented proposals under an Uzbek-German raw materials dialogue. The parties discussed industrial cooperation, joint projects and technology and investment partnerships. They agreed to continue cooperation in mining and strategic raw materials and jointly examine prospective areas for further engagement.

   ---

7. EUROUZ Member EY Outlines Uzbekistan’s New ESG Regulatory Model

   On August 18, 2026, EUROUZ member EY published an analysis of Uzbekistan’s transition from green-economy policies toward a formal ESG disclosure framework. The review highlights new requirements linked to IFRS Sustainability Disclosure Standards, corporate governance, climate accounting and investor reporting. From July 2026, companies began adapting internal controls and data systems for sustainability disclosures. The framework links ESG more closely with access to finance, investment and corporate reporting. EY notes that further methodological guidance will be needed for companies implementing the new requirements.

   ---

8. EUROUZ welcomes a new member – ABM Technik

   

   ABM Technik is a Germany-based industrial technology company specialising in advanced machinery, production technologies and engineering solutions for industrial enterprises. The company provides high-quality European technologies for metalworking and mechanical engineering, plastics and polymer processing, as well as other key industrial sectors. Headquartered in Germany and with a regional presence in Tashkent, Uzbekistan, ABM Technik supports customers across Uzbekistan and Central Asia. Its expertise covers the full project cycle, including equipment selection and supply, technical consulting, project development, installation and commissioning, training, spare parts and after-sales support. Through the introduction of advanced European technologies and long-term cooperation with local manufacturers, ABM Technik contributes to the modernisation, efficiency and technological development of industry across Central Asia.

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1. INTERNATIONAL COOPERATION

1.1 EUROPE

Finland’s Institutional Investors Explore Uzbekistan’s Domestic Bond Market
Uzbekistan’s Ministry of Economy and Finance held talks with major European institutional investors, including Finland’s State Pension Fund, Ilmarinen, Elo, Veritas and Aktia Bank Oyj. The investors expressed interest in accessing Uzbekistan’s government treasury bond market and discussed opportunities in the domestic financial sector. Talks also covered sovereign credit ratings, public debt management and expansion of local-currency financing. The discussions support Uzbekistan’s efforts to broaden its institutional investor base and develop domestic capital markets.

Uzbekistan and Switzerland Plan Deeper Intellectual Property Cooperation Uzbekistan’s Minister of Justice Akbar Tashkulov met Switzerland’s newly appointed Ambassador Simone Giger in Tashkent. The sides discussed cooperation in intellectual property, legal education and scientific research. Uzbekistan proposed establishing direct contacts between its Ministry of Justice and the Swiss Federal Institute of Intellectual Property, alongside university exchanges and joint research programmes. The parties agreed to continue developing bilateral institutional cooperation in these areas.

Uzbekistan and France Consider Startup Cooperation Framework
Uzbek officials met La French Tech in Paris during a government delegation visit to France. Discussions focused on connecting the two countries’ startup ecosystems, supporting French technology companies entering Uzbekistan and helping Uzbek startups access French and wider European markets. The parties considered preparing a memorandum between IT Park Uzbekistan and La French Tech and examined the possibility of establishing a La French Tech presence in Uzbekistan. IT Park’s Soft Landing and Startup Exchange programmes were also discussed as potential cooperation mechanisms.

Uzbekistan and Türkiye Discuss Trade and Industrial Project Expansion
On September 12, Uzbek Deputy Minister of Investment, Industry and Trade Akram Aliyev met Türkiye’s Deputy Foreign Minister Berris Ekinci. The sides discussed increasing bilateral trade and advancing joint investment and industrial projects. Transport links, interregional cooperation and preparations for the next Uzbek-Turkish Intergovernmental Commission meeting were also reviewed. Both governments confirmed plans to continue developing their comprehensive strategic partnership through trade, investment and industrial cooperation.

IT Park Uzbekistan Signs Innovation Cooperation Memorandum in Berlin
IT Park Uzbekistan held the Digital Uzbekistan event at the Uzbek Embassy in Berlin, bringing Uzbek startups together with German technology and business organisations. Moneff, Geomotive and OX Group presented their solutions to companies including Deloitte, Delivery Hero, Start2 Group and German Accelerator. IT Park signed a memorandum of understanding with Cambridge Innovation Center to strengthen innovation ecosystem cooperation and international opportunities for Uzbek technology companies. The initiative forms part of Uzbekistan’s efforts to expand technology exports and startup access to European markets.

Team Europe Expands Regional Engagement in Eastern Uzbekistan
On September 15, EU Ambassador Toivo Klaar and representatives of several EU member states began a Team Europe mission to the Fergana and Namangan regions. The delegation met regional authorities and examined opportunities to attract European investment, expertise and stronger business exchanges with EU member states. The mission also reviewed EU-funded projects and engagement with local beneficiaries and civil society organisations. The visit forms part of the EU’s effort to extend economic and development cooperation beyond Tashkent and strengthen links with Uzbekistan’s regions.

1.2 CENTRAL ASIA, CAUCASUS & CIS

Uzbekistan Advances Regional Connectivity Agenda at Bishkek SCO Summit

President Shavkat Mirziyoyev participated in the Shanghai Cooperation Organisation Council of Heads of State meeting in Bishkek, alongside the leaders of Kazakhstan, Kyrgyzstan and Tajikistan. Uzbekistan proposed deeper industrial cooperation, stronger transport connectivity, and joint approaches to food, water and energy security. The summit concluded with the Bishkek Declaration and a package of documents covering economic, transport, environmental and technological cooperation. The outcomes reinforce regional coordination on infrastructure and economic connectivity across Central Asia.

Uzbekistan and Armenia Target Industry and Regional Transport Connectivity
On September 7, Uzbek and Armenian deputy foreign ministers held political consultations in Yerevan covering trade, investment and broader bilateral cooperation. The sides identified industrial cooperation, transport and logistics, agriculture, digital technologies, tourism and education as areas with further potential. They also agreed to expand the bilateral legal framework and maintain closer coordination between their foreign ministries. The talks support Uzbekistan’s efforts to strengthen commercial links between Central Asia and the South Caucasus.

Central Asia and South Korea Establish New Industrial Cooperation Mechanism
On September 14, industry ministers from Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan met their South Korean counterparts in Seoul in a new regional ministerial format. The mechanism will focus on industrial cooperation, trade, technology and stronger links between Central Asian enterprises and Korean companies. Uzbekistan reported that its combined trade with Central Asian countries and South Korea exceeded $10 billion in 2025, rising by almost 10%. The format creates an additional platform for regional production, technology partnerships and investment cooperation.

Uzbekistan and Azerbaijan Extend Cooperation in Digital Public Services
Uzbekistan’s Justice Minister Akbar Tashkulov and Azerbaijani Ambassador Rashad Mammadov discussed further bilateral cooperation in justice and public administration. The sides focused on digitalising public services, introducing modern technologies and exchanging institutional practices. These activities will continue under the 2027–2028 cooperation programme signed in August between Uzbekistan’s Justice Ministry and Azerbaijan’s State Agency for Public Service and Social Innovations. The programme provides an institutional framework for transferring digital-government practices between the two countries.

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Support by Sharing Uzbek.Review

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT CHANGES

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BANKING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. EUROUZ is pleased to present its Events Calendar for September–October 2026

   

   Key Events:
   • 11 September — EUROUZ Annual Back to Work Jazz Evening
   • 15 September — Visit of Italian Business Delegation in partnership with Italy4Trade
   • 24–25 September — Uzbekistan National Day in Brussels: Celebrating 35 Years of Independence of Uzbekistan in the Heart of Europe
   • 06 October — EUROUZ HR & Capacity Building Committee Meeting
   • 7–8 October — Conference & Business Exhibition in Tashkent in partnership with Sales Association of Georgia
   
   EUROUZ looks forward to welcoming its members and partners across these events and continuing to provide a platform for impactful dialogue, international engagement and business cooperation.
   
   Discover the full list of events - eurouz.com

   ---

2. Save the Date 11 September | EUROUZ Annual Back to Work Jazz Evening

   

   EUROUZ is delighted to invite its members to the Annual Back to Work Jazz Evening, an elegant evening bringing together professional networking, live jazz music, and a refined atmosphere. The event will offer members an opportunity to reconnect after the summer season, meet business peers and partners, and enjoy an evening of music, conversation, and informal networking in one of Tashkent’s most atmospheric venues.
   
   Date: Thursday, 11 September
   Time: 18:30–21:30 UZT
   Venue: Intercontinental - 3rd floor Terrace
   Register here
   Sponsorship opportunities
   
   Spaces are limited. Early registration is highly recommended.

   ---

3. ITALIAN BUSINESS EVENING | TASHKENT

   

   On 15 September 2026, EUROUZ will host the Italian Business Evening, organized by Italy4Trade International together with APRI International and Confprofessioni. The event will open the Tashkent stage of an Italian business mission, bringing together around 17 Italian companies and professional firms for a week of institutional and business meetings in Uzbekistan.
   
   The evening will feature a short institutional opening introductions from the Italian delegation, followed by structured networking over dinner. A focused evening designed to turn introductions into meaningful business connections.
   
   15 September 2026 | 18:30–21:30
   Lotte City Hotel Tashkent Palace
   56 Buyuk Turon St., Tashkent
   
   Free for EUROUZ members and invited guests | Limited places
   Registration: link

EUROUZ & MEMBER NEWS

1. EUROUZ Board of Directors Marks Transition with Annual Dinner

   

   EUROUZ held its Board of Directors Transition Dinner, bringing together the newly elected Board members for an informal evening of dialogue and exchange. The traditional gathering provided an opportunity to reflect on EUROUZ’s recent progress, discuss priorities for the new Board term, and exchange views on the Association’s future activities, strategic direction and support for members. The evening also marked an important moment in ensuring continuity between Board terms and strengthening cooperation among the new Board members as EUROUZ continues to advance business and economic ties between Uzbekistan and Europe.

2. EUROUZ Healthcare & Life Sciences Committee Reviews Policy Priorities

   

   EUROUZ held an internal meeting of its Healthcare & Life Sciences Committee, bringing together representatives of the pharmaceutical industry and consultancy sector. The Committee reviewed progress on its White Paper, noting that around 30–40% of its initiatives have already been reflected in adopted legislation. Members agreed to update the document and submit a revised version. The discussion also covered price regulation, counterfeit products, grey imports and digital marking, including a proposed working meeting with CRPT Turon. Looking ahead, the Committee agreed to prepare a full-day public forum in autumn 2026, provisionally scheduled for November, with broader participation from relevant government authorities. EUROUZ thanks all participants for their valuable contributions and active engagement.

3. EUROUZ and European Partnership for Democracy Discuss GSP+ Opportunities

   

   EUROUZ representatives met with the European Partnership for Democracy to exchange views on the implementation and practical application of the GSP+ preferential trade scheme. The discussion focused on the opportunities GSP+ creates for Uzbek businesses entering the European Union market, including broader export potential, improved market access and stronger cooperation with European companies. The meeting also explored how Uzbek companies can better understand and use the GSP+ framework as they expand their presence in European markets. EUROUZ continues to support dialogue and practical cooperation aimed at strengthening trade and business ties between Uzbekistan and the European Union.

4. EUROUZ and Etihad Airways Explore Future Cooperation

   

   Representatives of EUROUZ and Etihad Airways recently held a productive meeting to discuss potential membership, cooperation and opportunities for future collaboration. EUROUZ also warmly congratulates Etihad Airways on the launch of daily flights between Abu Dhabi and Tashkent. The new service marks an important step in strengthening connectivity between Uzbekistan and the UAE, while creating additional opportunities for business, tourism and international cooperation.

5. EUROUZ member: AKFA Holding Offers 10,000 Jobs to Returning Uzbeks

   AKFA Holding said it is ready to employ 10,000 Uzbek citizens currently living abroad and seeking to return home. The company proposed creating a dedicated call center to connect potential returnees with available jobs. It also plans employment opportunities through international construction projects, including projects under discussion in Mexico, Saudi Arabia and Albania. President Shavkat Mirziyoyev supported the initiative and instructed the company to develop an employment platform. Other Uzbek businesses were encouraged to participate.

6. EUROUZ member: KAP DEPO Executes UZS 121B Hamkorbank Share Deal

   KAP DEPO executed a UZS 121 billion transaction involving ordinary shares of Hamkorbank, equivalent to more than $10 million. A major international investment fund acquired a 1.76% stake at UZS 55 per share. KAP DEPO advised and supported the transaction, facilitated negotiations between the parties and provided brokerage execution. The deal demonstrates international investor access to Uzbekistan’s equity market. The company plans to continue supporting local and foreign investors in large capital-market transactions.

7. EUROUZ member: Voltalia Advances Renewables as CEO Receives State Honor

   Voltalia CEO Robert Klein received Uzbekistan’s Order of Friendship for contributions to entrepreneurship, investment and job creation. The company also presented progress on its 126 MW Sarimay solar project in Khorezm and discussed the Artemisya project, combining 100 MW of wind generation with a 100 MW/200 MWh storage system. Voltalia’s Uzbekistan director Carole Pontais presented the projects during meetings with government representatives. The developments expand the French company’s renewable-energy portfolio in Uzbekistan.

8. EUROUZ member: Paynet Invests UZS 17.2B in GOINVEST

   Paynet, through subsidiary FurtherIT, is investing UZS 17.2 billion in investment platform GOINVEST and initially acquired a 33.14% stake. The company plans to increase its ownership to 51% and integrate GOINVEST services into the Paynet ecosystem. The partnership will expand digital access to Uzbekistan’s capital market, remote brokerage services and investment products. It also targets access to international markets, including US equities. PwC provided legal and advisory support for the transaction.

9. EUROUZ Member Solward Appoints Muborak Kambarova as Partner

   

   Solward strengthened its Tashkent team as part of its development across Central Asia. Kambarova brings 30 years of experience advising international clients on investments and transactions in Uzbekistan. Her practice covers banking and finance, capital markets, corporate matters, mergers and acquisitions, mining, and oil and gas. She has advised on numerous Uzbek Eurobond issuances involving sovereign, banking, and corporate issuers. Kambarova will support Solward’s regional growth and transaction capabilities.

10. EUROUZ Member CMC Appoints Giorgi Vakhtangishvili as New CEO

    

    CMC has appointed Giorgi Vakhtangishvili as CEO as the company enters a new stage of international expansion. Under the new leadership, CMC has introduced a revised management model and set a three-year goal to increase its project portfolio fivefold. The company plans to build on 17 years of experience in Georgia as it enters new markets. Its expansion roadmap targets regional growth before moving into Western Europe and the United States. Vakhtangishvili outlined the strategy in an exclusive interview.

11. EUROUZ welcomes a new member – Baker Tilly Uzbekistan

    

    Baker Tilly Uzbekistan is an official member of Baker Tilly International, one of the world’s leading global networks of audit and consulting firms, bringing together more than 50,400 professionals across 754 offices in 147 countries. The firm provides expertise across audit, taxation, accounting and advisory services, combining international experience, industry knowledge and global resources with a strong understanding of the Uzbekistan market. In Uzbekistan, Baker Tilly works with international investors, financial institutions, major national enterprises and companies with foreign participation, delivering services in line with the international quality standards of the Baker Tilly International network and local regulatory requirements.

12. EUROUZ welcomes a new member – Meridiam

    

    Founded in 2005, Meridiam is an independent investment Benefit Corporation and asset manager focused on the development, financing and long-term management of sustainable public infrastructure. With around €24 billion in assets under management, more than 130 projects and 10 offices worldwide, Meridiam is active across sustainable mobility, critical public services and innovative low-carbon solutions. In Uzbekistan, the company is pursuing investment opportunities in PPP projects across these areas, including through international tenders and private initiatives.

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1. INTERNATIONAL COOPERATION

1.1 EUROPE

Uzbekistan and Germany Expand Organized Employment and Accelerate Work Visas

Uzbekistan’s Migration Agency and Germany’s ambassador discussed expanding organized employment for Uzbek citizens and aligning training with German labor-market needs. Germany has demand for nurses, drivers, hospitality workers and technical specialists. Uzbekistan plans to scale vocational and German-language preparation for prospective workers. The sides agreed to speed up visa processing and involve additional German employers and educational institutions. The measures aim to widen legal employment channels and improve worker readiness.

Uzbekistan Partners with UK Universities on Tax Training and Shadow Economy
Uzbekistan’s Tax Committee reached agreements with British universities to strengthen specialist training and modernize tax education. London School of Economics plans to support a shadow-economy faculty at the Higher School of Tax Service, while 20 Uzbek specialists may complete UK internships. Hull Business School will help develop courses on the shadow economy and tax-system digitalization. The partnerships will introduce international expertise into national practice. Uzbekistan also plans to train a new generation of tax specialists.

Uzbekistan Food Exports to Belgium Exceed $1M as EU Access Expands
Uzbekistan exported 807 tonnes of food products worth more than $1 million to Belgium in the first half of 2026 through 10 domestic enterprises. Shipments included dried plums, herbs, beans and raisins. EU GSP+ preferences provide duty-free access for more than 6,200 Uzbek product lines and have supported wider European market access. Authorities are updating food safety and phytosanitary standards to meet export requirements. Uzbekistan aims to raise total exports to Europe to $10 billion.

European Union Backs €4.9M Public Services Reform Program in Uzbekistan
The European Union is funding a €4.9 million public-services reform program in Uzbekistan, implemented by UNDP with the Ministry of Justice through 2029. A new training cycle is strengthening communication skills among more than 25 public-service specialists. The wider program targets institutional reform, digital transformation and improved access to services, particularly outside major cities. It plans to train 1,000 civil servants and digitally transform at least 35 services. The project also aims to establish 34 new public-service zones in mahallas.

1.2 CENTRAL ASIA, CAUCASUS & CIS

Uzbekistan and Azerbaijan Expand Partnership with Treaty, Projects and Pension Deal

During Azerbaijani President Ilham Aliyev’s August 2026 state visit to Uzbekistan, he and President Shavkat Mirziyoyev advanced a package of agreements. The countries signed a Treaty on Eternal Friendship and adopted measures to raise annual trade to $1 billion. They also launched projects across banking, construction, education, tourism, housing, mineral processing and horticulture. A pension agreement allows work periods in both countries to count toward eligibility. The pension accord will enter into force after required procedures.

• Eternal Friendship Treaty: Presidents Shavkat Mirziyoyev and Ilham Aliyev signed a Treaty on Eternal Friendship, reinforcing the countries’ strategic partnership and allied relations.

• $1 billion trade target: The sides adopted a program of measures to increase annual bilateral trade to $1 billion.

• New joint projects: The presidents launched projects in banking, construction materials, education, fuel infrastructure, tourism, housing, mineral processing and horticulture.

• Transport cooperation: Uzbekistan and Azerbaijan agreed to develop the Trans-Caspian International Transport Route, improve logistics infrastructure and increase cargo traffic.

• Pension rights: A new agreement allows employment periods in both countries to count toward pension eligibility, with each state paying benefits for work completed on its territory. It will enter into force after required procedures.

Uzbekistan and Kazakhstan Plan Nuclear and Environmental Safety Roadmap
Uzbek and Kazakh delegations met to coordinate nuclear, radiation and environmental safety as both countries pursue nuclear power projects. The sides agreed to develop a cooperation roadmap and take joint measures. Uzbekistan presented its plant design, site studies, safety approach and environmental monitoring plans. Officials also discussed training nuclear specialists and proposed a regional training center for Central Asia. The center would support practical instruction, expert consultations and academic mobility.

Uzbekistan and Georgia Shift Road Freight Permits to Digital System
On August 21, 2026, Uzbekistan’s Transport Ministry announced that carriers operating between Uzbekistan and Georgia would use the E-Permit system for international road freight. The system replaces paper permits for bilateral, transit and third-country shipments with electronic documents. More than 60% of Uzbek road carriers transport goods through Georgia. The change aims to reduce processing delays, administrative procedures and paper use while increasing transparency. The countries also plan logistics infrastructure at Georgian seaports and expanded rail-freight discounts.

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Support by Sharing Uzbek.Review

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT CHANGES

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BANKING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. EUROUZ is pleased to present its Events Calendar for September–October 2026

   

   Key Events:
   • 11 September — EUROUZ Annual Back to Work Jazz Evening
   • 15 September — Visit of Italian Business Delegation in partnership with Italy4Trade
   • 24–25 September — Uzbekistan National Day in Brussels: Celebrating 35 Years of Independence of Uzbekistan in the Heart of Europe
   • 06 October — EUROUZ HR & Capacity Building Committee Meeting
   • 7–8 October — Conference & Business Exhibition in Tashkent in partnership with Sales Association of Georgia
   
   EUROUZ looks forward to welcoming its members and partners across these events and continuing to provide a platform for impactful dialogue, international engagement and business cooperation.
   
   Discover the full list of events - eurouz.com

   ---

2. Save the Date 11 September | EUROUZ Annual Back to Work Jazz Evening

   

   EUROUZ is delighted to invite its members to the Annual Back to Work Jazz Evening, an elegant evening bringing together professional networking, live jazz music, and a refined atmosphere. The event will offer members an opportunity to reconnect after the summer season, meet business peers and partners, and enjoy an evening of music, conversation, and informal networking in one of Tashkent’s most atmospheric venues.
   
   Date: Thursday, 11 September
   Time: 18:30–21:30 UZT
   Venue: Ember & Embar Terrace, InterContinental Tashkent, 17th floor
   Register here
   Sponsorship opportunities
   
   Spaces are limited. Early registration is highly recommended.

   ---

3. Meet Your Next Business Partner at TextileExpo Sourcing Hub

   

   Looking to expand your supplier network or source new textile products? TextileExpo Sourcing Hub, taking place on 9 September as part of Global Textile Days on 8-10 September at Uzexpocentre NEC, offers a unique opportunity to connect directly with carefully selected manufacturers and international buyers in a dedicated B2B matchmaking format.

   Designed for producers of textiles, apparel and textile machinery, the event enables participants to hold pre-arranged business meetings, explore new sourcing opportunities, discuss potential partnerships and lay the groundwork for future contracts. Don’t miss this exclusive platform for high-value networking and international business development.

   To register/learn more: textileexpo@iteca.uz

   ---

4. November Brings the Year’s Most Anticipated Tourism Event

   

   
   TITF 2026 is where the businesses shaping Uzbekistan’s tourism economy will meet their next partners. With growing interest already driving demand for exhibition space, the event will bring together destinations, hospitality, tour operators, MICE specialists and travel-tech companies – alongside the wider ecosystem supporting tourism growth.

   
   For EUROUZ members, this means an opportunity to look beyond tourism itself: towards new markets, investment, technology, services and partnerships connected to Uzbekistan’s growing visitor economy. Explore how your company can be part of TITF 2026 at CAEx Uzbekistan, 25–27 November – and make sure your place in the conversation is secured.
   

   Participation options: https://titf.uz/en/stand-reservation
   Sponsorship opportunities: https://titf.uz/en/sponsorship
   Buyer registration: https://titf.uz/en/buyer_registration

EUROUZ & MEMBER NEWS

1. EUROUZ welcomes a new member – CIS Support Services OZB LLC

   

   Founded in 1992, CIS is a leading international provider of integrated support services for remote camps and industrial facilities, including catering, cleaning, laundry, and maintenance services. The Group operates across 17 countries and 416 sites, employing 16,592 people worldwide, with revenue of €489.2 million in 2025. CIS supports major projects across the oil and gas, mining, infrastructure, and defence sectors. Through international standards, advanced expertise, and innovative digital solutions, the company improves operational efficiency and living conditions at remote sites. CIS also contributes to local economic development by creating jobs, developing talent, supporting local businesses, and maintaining high standards of health, safety, and environmental responsibility.

   ---

2. EUROUZ welcomes a new member – Trilliant Business Park

   

   Trilliant is Uzbekistan's first Grade A+ business park, designed in line with LEED Gold sustainability standards - a premium mixed-use destination combining two office towers, the InterContinental Tashkent Hotel, conference facilities, international restaurants and retail infrastructure. Trilliant continues to attract international corporations while expanding its premium office, retail and hospitality offering and promoting sustainable, technology-driven commercial real estate in Uzbekistan.

   ---

3. EUROUZ welcomes a new member – CaspiGroup

   

   Operating across nine countries, CaspiGroup is an international company specialising in two key areas: the production and supply of corporate gifts and promotional merchandise, and comprehensive equipment solutions for the HoReCa sector. Supported by its full-cycle production facility in Türkiye, the company manages every stage-from concept and design to manufacturing, branding and delivery. CaspiGroup also works with trusted European and Asian suppliers to provide quality promotional products, commercial equipment and operational supplies for hotels, restaurants, educational institutions and government organisations. Built on reliability, transparency and international standards, CaspiGroup brings valuable cross-market experience and a strong commitment to long-term partnerships.

   ---

4. EUROUZ Explores Cooperation with JW Marriott Tashkent

   

   EUROUZ held a meeting with representatives of JW Marriott Tashkent to discuss potential cooperation and future membership opportunities.

   The parties exchanged views on engagement within the EUROUZ business community, participation in upcoming initiatives and events, and cooperation between the hospitality sector and the wider European business community in Uzbekistan. EUROUZ also presented its activities, membership framework, and platforms for business networking, visibility, and institutional engagement.

   ---

5. Building the HR agenda together with our members.

   

   EUROUZ met with member company Attech Global to explore collaboration in the HR field, including a potential dedicated HR event. Talent, skills and workforce development are among the most pressing challenges for companies operating in Uzbekistan today, and shaping this agenda works best when it comes directly from our members.

   ---

6. EUROUZ Member Ahlers Logistics Delivered Critical Steel Structures for a Major African Energy Project
   Ahlers was appointed by one of Vietnam's largest steel fabricators to manage and complete a series of shipments for a major gas development in Cabo Delgado Province, Mozambique. The structures, which form part of one of the largest energy projects currently underway in Africa, were successfully delivered in line with the project's strict delivery requirements.

   ---

7. ADM Forms $40M Leasing Venture with Hyundai Corporation and FINCOM
   On August 10, 2026, ADM, Hyundai Corporation Singapore and FINCOM established a joint venture in Uzbekistan to expand vehicle financing. The partners will invest about $40 million initially and target an investment and leasing portfolio of up to $100 million within five years. Initial leasing products will cover Kia vehicles produced in Uzbekistan. The venture will later expand to other ADM brands and financing for transport, special equipment, commercial real estate and corporate customers.

   ---

8. EUROUZ Member Marillion Highlights Business Support in Uzbekistan

   In an interview with Spot.uz, Managing Director Andrey Gadubyak outlined the company’s approach to helping local and international clients adapt to Uzbekistan’s market. He said sustained economic growth creates new business opportunities while changing legislation requires companies to adjust their operations. Marillion supports clients with accounting, taxation, market entry, payroll, and regulatory compliance. Its services also cover transfer pricing, 1C-based automation, tax audits, and product certification. The company focuses on aligning business processes with Uzbek legal requirements and reducing regulatory risks.

   ---

9. EUROUZ Member Acwa Secures $226M for 300MW Uzbekistan Wind Farm

   Acwa signed financing agreements with ADB, AIIB and Standard Chartered Bank at the ADB Annual Meeting. The financing covers more than two-thirds of the Bash II project cost in Bukhara region’s Gijduvan district. The wind farm has a 25-year power purchase agreement with Uzbekistan’s national grid operator. It will supply more than 336,000 households and avoid about 475,000 tonnes of annual CO₂ emissions. Commercial operations are scheduled for the second half of 2027.

Did you know that EUROUZ members and ALL their employees can access the Uzbek.Review portal free of charge as long as their organization remains a member?

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1. INTERNATIONAL COOPERATION

1.1 EUROPE

Czech Republic Explores Recruitment of Uzbek Nurses Through Organized Migration
Uzbekistan’s Embassy in Prague met ZYLORA representatives to discuss organized labour migration for healthcare personnel. The talks covered cooperation between Uzbekistan’s Migration Agency and the Czech Health Ministry on employing medical workers and nurses legally. ZYLORA is considering specialized nursing courses in Uzbekistan to prepare candidates for jobs in Czech Republic. The initiative would expand regulated employment channels for qualified Uzbek healthcare workers. The sides plan to continue developing cooperation in this area.

Uzbekistan Expands Frozen Fruit Export Talks with Czech Importer
Uzbekistan’s Embassy in Prague met NEGOCIO, a Czech food importer and wholesale supplier, to discuss agricultural trade. The company expressed interest in Uzbek raspberries, apricots, plums and other fruit processed through IQF freezing technology. Talks also covered quality standards, packaging and production requirements for the European market. The sides agreed to organize B2B negotiations between NEGOCIO and Uzbek exporters and continue developing direct business contacts.

Uzbekistan Sends First Seasonal Workers to France Under Pilot
Uzbekistan’s Migration Agency announced that 10 citizens had been selected for agricultural jobs in the Rhône and Maine-et-Loire departments. Six workers obtained visas for fruit harvesting and sorting in August, while four will travel in autumn for vegetable harvesting. French employers selected the candidates after online interviews held on July 1. The pilot with France’s FNSEA establishes an organized recruitment channel. Its results may support wider cooperation with French employers.

WHO Europe Launches Uzbekistan Hospital Preparedness Initiative
On August 12, 2026, WHO and Uzbekistan’s Health Ministry opened a programme to strengthen hospital resilience against earthquakes and chemical, biological, radiological and nuclear emergencies. The initiative combines the WHO Hospital Safety Index with future hospital emergency response plans. Selected pilot hospitals will undergo an in-person assessment workshop in Tashkent on August 23–25. The assessments will identify structural, operational and emergency-management gaps. Findings will support future response planning and possible nationwide expansion.

1.2 CENTRAL ASIA, CAUCASUS & CIS

Uzbekistan Expands Kyrgyzstan Projects with $1.5B Trade and Investment Deals

Investment Minister Laziz Kudratov outlined bilateral initiatives following President Shavkat Mirziyoyev’s state visit to Kyrgyzstan. Planned projects cover cattle breeding, rice and potato cultivation, construction materials and geological exploration. Energy cooperation includes Kambarata hydropower and small-scale generation, while the China–Kyrgyzstan–Uzbekistan railway is progressing ahead of schedule. Bilateral trade rose 45% this year to $624.6 million. Authorities will also improve cargo transit, processing and customs clearance to support further trade growth.

Uzbekistan and Turkmenistan Consider Restoring Direct Air Services
On August 13, transport and logistics representatives met Turkmen Ambassador Shadurdi Meredov to review cross-border connectivity and freight operations. Discussions covered electronic visas for truck drivers, payment procedures and congestion at the Farap–Alat crossing. Proposals also included a perishable-goods corridor, a second neutral-zone bridge and faster road and rail movement through Turkmenbashi Port. The measures target shorter queues and better conditions for carriers. Turkmenistan agreed to review the proposals with relevant state authorities and continue bilateral transport cooperation.

Uzbekistan and Azerbaijan Plan Logistics Hub Near Baku Port
Deputy Investment Minister Khurram Teshabaev said the facility would integrate with Baku Sea Trade Port infrastructure. The center will connect to Azerbaijan’s rail network and routes linking Central Asia, the South Caucasus and Europe. It will consolidate, store and process cargo, handle multimodal containers and accelerate customs and transit procedures. The project aims to shorten Tashkent–Baku delivery times and improve transport competitiveness. Officials expect the China–Kyrgyzstan–Uzbekistan railway to increase cargo flows and strengthen the hub’s role.

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Support by Sharing Uzbek.Review

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT CHANGES

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BANKING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. August 4, 2026 EUROUZ Compliance & Corporate Governance Committee Meeting

   

   
   EUROUZ Compliance & Corporate Governance Committee invites members to an online discussion on the continued development of the EU sanctions regime and its practical implications for companies operating in Uzbekistan and across Central Asia. Our special guest, Klaus Zillikens, EU Regional Sanctions Adviser at the EU Delegation in Astana, will deliver a presentation titled “EU Sanctions: Not a Sprint, but a Marathon,” followed by an interactive Q&A session.
   
   The session will examine how EU sanctions have evolved through the years and what the latest measures mean for the Central Asia businesses and how companies can balance between growing compliance requirements and legitimate trade and investment activities

   
   Participants may submit their questions in advance through our online questionnaire. Questions may be submitted anonymously or with the participant’s name and should be sent by 3 August.
   
   Submit your question: questionnaire link
   Date: 4 August, 2026
   Format: Online
   Participation: Open to EUROUZ members and non-members
   Registration: link

   ---

2. September 11th, 2026 EUROUZ Annual Back to Work Jazz Night

   

   EUROUZ is delighted to invite its members to the Annual Back to Work Jazz Night, an elegant evening bringing together professional networking, live jazz music, and a refined atmosphere. The event will offer members an opportunity to reconnect after the summer season, meet business peers and partners, and enjoy an evening of music, conversation, and informal networking in one of Tashkent’s most atmospheric venues.
   
   Date: Thursday, 11 September
   Time: 18:30–21:30 UZT
   Venue: Ember & Embar Terrace, InterContinental Tashkent, 17th floor
   
   Register here
   Sponsorship opportunities
   Spaces are limited. Early registration is highly recommended.

   ---

3. Meet Your Next Business Partner at TextileExpo Sourcing Hub

   

   
   

   Looking to expand your supplier network or source new textile products? TextileExpo Sourcing Hub, taking place on 9 September as part of Global Textile Days on 8-10 September at Uzexpocentre NEC, offers a unique opportunity to connect directly with carefully selected manufacturers and international buyers in a dedicated B2B matchmaking format.

   Designed for producers of textiles, apparel and textile machinery, the event enables participants to hold pre-arranged business meetings, explore new sourcing opportunities, discuss potential partnerships and lay the groundwork for future contracts. Don’t miss this exclusive platform for high-value networking and international business development.
   

   To register/learn more: textileexpo@iteca.uz

EUROUZ & MEMBER NEWS

1. EUROUZ Welcomes a New Member – TEXTIMA.

   

   Founded in Berlin in 1948, TEXTIMA is an owner-managed export company specialising in high-quality machinery, industrial plants and equipment. Originally focused on textile machinery, the company has expanded its portfolio to include solutions for plastics processing, rubber technology and the pharmaceutical industry. TEXTIMA also provides complete production lines combined with tailored financing solutions through its “Packager Model”. With seven representative offices and two subsidiaries across Eastern Europe, the Baltic States and Ukraine, TEXTIMA brings extensive international experience to its activities.

   ---

2. EUROUZ welcomes a new member – Knauf Group

   

   Knauf Group is one of the world's leading manufacturers of building materials and construction systems, with more than 90 years of history. With over 320 production sites in more than 90 countries, Knauf Group has been active in Uzbekistan for more than 25 years, operating three gypsum plants in Bukhara and Fergana. Headquartered in Visé, Belgium, Knauf Insulation, as part of the Knauf Group, is one of the global leaders in insulation solutions, with more than 40 years of experience. The company operates in over 40 countries, employs around 6,000 people, and manages 28 production sites across 15 countries. In 2025, Knauf Insulation further expanded its presence in Central Asia by launching a new rock mineral wool insulation plant in Tashkent. This investment strengthens local manufacturing, supports energy-efficient construction, and improves access to high-quality insulation solutions in Uzbekistan and the wider region.

   ---

3. EUROUZ Member Ipoteka Appoints Adam Szentpeteri as Management Board Chairman

   

   Effective July 27, 2026, Adam Szentpeteri assumed leadership of Ipoteka Bank OTP Group after serving as acting chairman since June 3. He will oversee strategy implementation, business-process efficiency, and the bank’s ongoing transformation. Szentpeteri joined the lender in July 2023 as deputy chairman and head of strategy and finance. He has worked within OTP Group since 2005 across retail banking, controlling, strategy, and executive roles. The bank plans to strengthen its market position and develop modern financial solutions.

   ---

4. EY-Parthenon Appoints Daniyar Adigamov to Expand Regional Advisory Practice

   

   On July 20, 2026, EY named Daniyar Adigamov a partner in its Uzbekistan-based strategy and transactions practice. He will develop valuation, modelling, transaction support, M&A, and restructuring services across Central Asia and the Caucasus. Adigamov brings over 25 years of experience and has completed more than 400 projects across multiple industries. The appointment strengthens EY’s capacity to support investment, corporate finance, and business transformation. He will also help expand the firm’s regional advisory capabilities and client coverage.

Did you know that EUROUZ members and ALL their employees can access the Uzbek.Review portal free of charge as long as their organization remains a member?

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1. INTERNATIONAL COOPERATION

1.1 EUROPE

Uzbekistan and Switzerland Advance Financial and Technical Cooperation

Senior central bank and government officials met in Tashkent during the IMF–World Bank Swiss Constituency Meeting. The parties reviewed joint initiatives with the EBRD, IMF, and World Bank focused on institutional capacity. They also discussed Uzbekistan’s global market integration and prospects for attracting more Swiss investment. The talks highlighted Switzerland’s financial and trading expertise as a basis for bilateral projects. Both sides agreed to maintain regular dialogue and continue technical assistance and capacity-building cooperation.

Uzbekistan Develops $1.8 Billion French Energy Pipeline
Uzbek and French officials reviewed six energy projects worth $1.8 billion that are being developed in Uzbekistan. The portfolio covers generation, transmission, gas infrastructure, storage, efficiency, digitalization, engineering, and training, while EDF is building more than 3.1 GW of gas-fired capacity. These proposals will add to three French projects worth about $2 billion already under implementation, lifting the joint pipeline above $4 billion. The expansion will increase generation and network capacity while widening French participation beyond existing EDF, TotalEnergies, and Voltalia projects.

1.2 CENTRAL ASIA, CAUCASUS & CIS.

Uzbekistan and Kyrgyzstan Target $2 Billion Trade Expansion

On July 30, 2026, Presidents Shavkat Mirziyoyev and Sadyr Japarov held bilateral talks in Cholpon-Ata. The leaders agreed to establish an Interstate Council and expand cooperation across industry, energy, logistics, agriculture, pharmaceuticals, and textiles. Bilateral commerce reached $1.2 billion in 2025, while around 450 joint ventures now operate. The package links trade growth with energy and cross-border transport infrastructure. Both governments will prepare the first Forum of Regions before year-end and advance the Kambarata HPP-1 project.

Uzbekistan and Azerbaijan Target $1 Billion Trade with Joint Projects

On July 17, 2026, Uzbek and Azerbaijani officials held intergovernmental and business council meetings in Tashkent. The parties signed agreements covering investment, industrial cooperation, project financing, geology, mineral development, and financial mechanisms. Bilateral commerce reached $307.2 million in 2025 and grew nearly 40% during January–May 2026. Planned ventures include energy blocks, tourism complexes, manufacturing plants, and regional development projects. Officials will hold an interregional forum in August and schedule reciprocal regional visits through 2027.

Tashkent Considers Afghan Farm Imports to Stabilize Food Prices
On July 25, 2026, a Tashkent delegation discussed agricultural cooperation during visits to Afghanistan’s Bamyan and Herat provinces. Officials considered importing affordable produce and establishing trade houses in both regions. They estimated Bamyan’s annual potato export potential at 300,000 tonnes, while a pilot project planted 44 tonnes of seed potatoes across 17 hectares. The initiative supports food security and direct business ties. Both sides plan to expand trade and launch joint agricultural projects.

Uzbekistan and Afghanistan Agree to Reduce Freight Carrier Fees
On July 26, 2026, transport ministers Ilhom Mahkamov and Mohammad Fazil Mazloum met in Kabul to review cross-border road transport conditions. The parties agreed to optimize charges imposed on national freight operators through reciprocal measures. Earlier reductions cut Afghanistan’s entry fee from 5,000 to 3,500 afghanis and the Friendship Bridge toll from 12,000 to 7,000 afghanis. The measure aims to improve conditions for cross-border road transport. An interagency group will finalize proposals by August 10.

FlyOne Armenia Launches Twice-Weekly Yerevan–Tashkent Charter Flights
On July 30, 2026, the carrier’s inaugural service arrived at Tashkent International Airport from Yerevan. The airline will operate Airbus A320 aircraft every Wednesday and Sunday. Shirak Avia became the first Armenian operator on the route when it began scheduled services on June 2. The additional connection expands direct air transport between Uzbekistan and Armenia. The route now has services from two Armenian airlines.

Uzbekistan Seeks Belarusian Support for First Nuclear Power Plant

On July 20, 2026, President Shavkat Mirziyoyev received a Belarusian delegation led by Deputy Prime Minister Viktor Karankevich. The meeting reviewed implementation of agreements following Mirziyoyev’s July 8–9 visit to Minsk. Officials discussed raising bilateral trade to $2 billion and advancing cooperation projects in priority sectors. The parties examined Belarusian expert support for nuclear plant design, construction, operation, and workforce training. The sides will also develop joint programmes between relevant higher education institutions.

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Support by Sharing Uzbek.Review

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BAKNING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. EUROUZ Board Aligns Priorities for Leadership Transition and Upcoming Initiatives

   

   On 7 July, EUROUZ convened its Monthly Board of Directors Check-in to review progress and coordinate priorities for the coming months. Members assessed outcomes from the Tashkent International Investment Forum and Annual General Meeting while outlining a roadmap for planned initiatives and events. The discussion also prepared the transition to the newly elected Board, shifting the Association from post-event review toward its next governance cycle. This coordination is intended to preserve institutional continuity, sharpen organizational priorities, and sustain member-focused delivery. The next milestone is completing the Board transition and advancing the agreed roadmap into implementation.

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2. EUROUZ welcomes a new member – AMEX Healthcare.

   

   Established in 1980 and headquartered in Vienna, AMEX Healthcare is an international provider of healthcare solutions, with operations in Kenya, Mexico, Pakistan, and Uzbekistan. The company specialises in medical equipment, pharmaceuticals, turnkey hospital solutions, and project financing support.AMEX Healthcare works with United Nations agencies, NGOs, governments, public institutions, and private healthcare operators, supporting international procurement programmes and the delivery of essential medical supplies and equipment worldwide. Through its Tashkent office, AMEX Healthcare serves Central Asia, combining international expertise with local market knowledge and offering project support through export credits, concessional financing, and preferential loan mechanisms.

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3. EUROUZ welcomes a new member – RÖDL.

   

   Founded in 1977 and headquartered in Nuremberg, RÖDL is a leading German professional services firm providing integrated expertise in legal advisory, tax consulting, audit and assurance, advisory and IT, and business process outsourcing. With more than 6,000 professionals across 117 offices in 50 countries, RÖDL supports internationally active companies through a unified, interdisciplinary approach and seamless cross-border cooperation. RÖDL has been present in Central Asia since 2009, with offices in Tashkent and Almaty. Its multinational team combines international expertise with strong local market knowledge to support clients on investment, business development, and project-related matters.

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4. Industry Leaders Getting Ready for the Annual Reunion in September

   

   The long-awaited annual gathering of plastics and polymers professionals will present the latest updates from across the globe. The 16th edition of Plastex Uzbekistan will once again bring together global manufacturers, raw material suppliers, equipment providers and innovative solution developers, creating a dynamic platform for business growth, strategic partnerships and new market opportunities in Uzbekistan and Central Asia.
   
   Join Plastex Uzbekistan 2026 as an exhibitor or sponsor to showcase your solutions to a highly targeted professional audience, strengthen your market presence and become part of the region’s leading plastics and polymers industry event.
   
   The chance to present the product/service can be booked here

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5. Uzbekistan’s Engineering & HVAC Showcase – Where Business Meets Smart Innovation

   

   For 14 years, AquaTherm Tashkent has delivered impressive growth edition after edition, and today stands as Central Asia’s leading platform for refrigeration, air conditioning, ventilation, heating and piping technologies. Uzbekistan’s only specialised exhibition to bring together the full range of engineering solutions under one roof, it takes place on 6-8 October 2026 at the Uzexpocentre NEC in Tashkent. With buyers, engineers and project designers, decision-makers all in one place, there is no better stage to launch products, forge partnerships and expand your footprint in one of the region’s fastest-growing markets.
   
   Book your stand now to showcase your products, find new partners and break into Uzbekistan’s fast-growing market

EUROUZ & MEMBER NEWS

1. EUROUZ Member Asakabank Secures $60 Million Sharia-Compliant Syndicated Financing
   Asakabank announced on 2 July 2026 that it had closed a $60 million Sharia-compliant syndicated financing facility for operations in Uzbekistan. The facility uses multiple tranches with different tenors, includes an accordion option to increase its size, and will support private-sector financing and the bank’s general corporate needs. The transaction makes Asakabank Uzbekistan’s first commercial bank to attract long-term syndicated funding structured under Sharia principles. ICD led the deal as mandated lead arranger, bookrunner and investment agent, while Boubyan Bank joined as joint lead arranger and ICIEC provided credit enhancement.

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2. EUROUZ Members EDF and Orano Anchor $2.6 Billion French Project Pipeline

   

   On 9 July 2026, Uzbek officials and representatives of 17 French companies reviewed new investment projects in Tashkent. EUROUZ members EDF and Orano account for $2.6 billion of the discussed portfolio, comprising $2 billion in energy projects and a $600 million industrial project in the Navoi region. The talks followed bilateral trade of $1.4 billion in 2025 and $775 million in January–May 2026, up 150% year on year. Their projects could expand French participation in Uzbekistan’s energy and uranium industries while adding production capacity and technology.

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3. EUROUZ Member Dentons Advises $150 Million AI Data Center Financing
   On 7 July 2026, EUROUZ member Dentons said it advised DataVolt on up to $150 million of non-recourse financing for the TAS-1 data center in Tashkent. DEG, EBRD, OPEC Fund and Proparco are providing the 12-year facility for a 12 MW green data center designed for liquid-cooled cloud, AI and enterprise workloads. The transaction is described as Uzbekistan’s first financing of this kind, moving the project toward lender-backed construction and operation. The facility could expand regional digital capacity while supporting the Digital Uzbekistan–2030 strategy. Commissioning is expected in late 2026, making operational readiness the next confirmed milestone.

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4. EUROUZ Member AKFA Plans Investor Sounding for Debut Bond
   On 8 July 2026, UzDaily reported that AKFA Aluminium Group would hold introductory meetings with international financiers in London the following week. Citigroup and JPMorgan will organize the roadshow, where senior executives will present the company’s financial profile and test demand for a potential debut bond. The consultations remain preliminary, and no immediate debt placement is planned, distinguishing the exercise from a formal issuance. Accessing international bond markets could diversify AKFA’s funding while supporting stronger governance and transparent financial reporting.

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5. EUROUZ Member Dentons Advises $15.4 Million UzCarlsberg Equity Investment
   EUROUZ member Dentons advised the EBRD on an equity investment of up to $15.4 million in UzCarlsberg. The financing will fund a new brewing facility beside the company’s existing site, advanced brewing and bottling equipment, and additional warehouse capacity. The transaction is the EBRD’s third equity investment in Uzbekistan since 2020, extending its support beyond debt financing into corporate ownership. The investment could expand production capacity while strengthening private-sector financing in Uzbekistan’s food and beverage industry.

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6. EUROUZ Member Beeline Uzbekistan Anchors DataVolt’s TAS-1 Data Center

   

   EUROUZ member Beeline Uzbekistan and DataVolt signed two memorandums at the Tashkent International Investment Forum. The first sets agreed commercial terms making Beeline a major tenant of DataVolt’s TAS-1 facility, while the second is a non-binding framework to evaluate a data center in Bukhara. The agreements shift cooperation from general digital expansion toward secured domestic hosting capacity and possible regional infrastructure. Anchor tenancy could support local data processing, cloud and AI services, resilience, and data localization. The next milestones are Beeline’s capacity commitment at TAS-1 and a decision on Bukhara.

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1. INTERNATIONAL COOPERATION

1.1 EUROPE

Uzbekistan Tasks Tuscany Partnership Roadmap After 25% Trade Growth

President Shavkat Mirziyoyev met Tuscany Governor Eugenio Giani in Uzbekistan on 14 July 2026 and agreed to prepare a joint regional cooperation roadmap. The plan is expected to identify projects linking Tuscany with Uzbek regions across textiles, leather, food processing, jewelry, construction, education, culture, and tourism. The initiative builds on a 25% rise in Uzbekistan–Italy trade since the start of 2026, existing industrial projects, and a new Tuscany–Bukhara agreement. A structured roadmap could convert broad regional ties into sector-specific initiatives and expand market access for Uzbek products, including textiles promoted through Prato. The next confirmed step is drafting and adopting the roadmap.

Uzbekistan Broadens French Corporate Talks Across Five Infrastructure Sectors

On 9 July 2026, Presidential Administration head Saida Mirziyoyeva met representatives of major French companies led by MEDEF International’s Claude Imauven. The talks covered energy, education, water supply, transport, and urban infrastructure, but the source disclosed no project values, contracts, or implementation schedules. The engagement followed Mirziyoyeva’s recent dialogue with French President Emmanuel Macron, moving the bilateral agenda from political discussion toward direct corporate participation. This format could widen the pool of French operators considered for Uzbekistan’s infrastructure and public-service priorities.

Uzbekistan Extends Liechtenstein Investment Dialogue

Uzbek Deputy Prime Minister Jamshid Kuchkarov met Liechtenstein Prime Minister Brigitte Haas on 30 June 2026 during the IMF–World Bank constituency meeting. Officials discussed trade, investment, financial-sector cooperation, and possible joint initiatives, with Liechtenstein citing private-sector interest and existing construction and healthcare companies. The exchange marked a gradual expansion of bilateral economic contacts, also disclosed projects, values, financing, or institutional mechanism. Continued engagement will broaden investment channels and financial-sector links.

Sardinia Opens 100 Annual Healthcare Roles to Uzbek Specialists
On 7 July 2026, Uzbekistan’s Migration Agency announced a recruitment program for doctors and nurses to work in Sardinia, Italy. The scheme targets up to 100 hires annually, requires medical or nursing degrees, and includes a seven-month online Italian course funded by the agency. Unlike many overseas placements, applicants need no prior experience, although experienced candidates and specialists under 40 receive preference. Official employment offers base pay up to €3,500 monthly, potentially €4,000–5,000 with shifts, plus housing, lunches, insurance, and a 38-hour week.

Uzbekistan Develops $1.8 Billion French Energy Pipeline
On 8 July 2026, Uzbek and French officials reviewed six energy projects worth $1.8 billion that are being developed in Uzbekistan. The portfolio covers generation, transmission, gas infrastructure, storage, efficiency, digitalization, engineering, and training, while EDF is building more than 3.1 GW of gas-fired capacity. These proposals will add to three French projects worth about $2 billion already under implementation, lifting the joint pipeline above $4 billion. The expansion will increase generation and network capacity while widening French participation beyond existing EDF, TotalEnergies, and Voltalia projects.

1.2 CENTRAL ASIA, CAUCASUS & CIS

Mirziyoyev Receives Georgia’s Golden Fleece, Deepening Diplomatic Recognition

President Shavkat Mirziyoyev received Georgia’s Order of the Golden Fleece in Tbilisi on 2 July 2026 during official events. Georgian President Mikheil Kavelashvili presented the decoration for Mirziyoyev’s contribution to strengthening bilateral relations. Established in 1998, the order recognizes contributions to Georgia’s foreign ties, culture, science, and arts, and has previously been awarded to prominent international leaders. The award provides diplomatic recognition of Uzbekistan–Georgia engagement.

Uzbekistan and Georgia Target $1 Billion Trade Through Logistics Expansion

Uzbekistan and Georgia agreed during high-level talks in Tbilisi on 2 July 2026 to pursue annual bilateral trade of $1 billion. A joint roadmap will support the target through investment projects, wider use of Poti and Batumi ports, a logistics hub, an industrial zone, and a permanent Uzbek product showroom. Trade reached $270 million in 2025, while turnover exceeded $100 million from the start of 2026, leaving a substantial gap to the target. The plan is to expand market access and connect Uzbek cargo more closely with Black Sea and transregional routes.

Uzbekistan Weighs Anaklia Port Stake to Expand Black Sea Access
On 3–4 July 2026, an Uzbek delegation inspected Georgian ports and considered participation in the Anaklia Deep Sea Port project. Ministers examined Anaklia, Poti, Batumi, and the Poti Free Industrial Zone, while discussing warehouses, terminals, and a consortium of Uzbek companies. The initiative would move Uzbekistan from using Georgian transit facilities toward potential ownership or development participation in a major Black Sea logistics asset. A stake could improve control over cargo handling and support access to European and Latin American markets through the China–Kyrgyzstan–Uzbekistan corridor. The next step is preparing agreements and forming the proposed consortium.

Uzbekistan and Belarus Target $2 Billion Trade Through Industrial Plan

Uzbekistan and Belarus approved an action plan in Minsk on 9 July 2026 to raise bilateral trade to $2 billion. The plan covers new industrial projects in agriculture, engineering, pharmaceuticals, electrical equipment, light industry, and furniture, alongside forums in tourism, healthcare, and education. Trade had nearly tripled over five years to almost $1 billion in 2025 and increased another 30% from the start of 2026, with 360 joint ventures operating. Reaching the target would require roughly doubling the latest annual turnover through additional production and commercial links.

Uzbekistan and Belarus Formalize Strategic Partnership Around Trade and Nuclear Cooperation
Uzbekistan and Belarus formalized strategic partnership relations in Minsk on 9 July 2026 after presidential negotiations. The declaration was supported by a roadmap targeting $2 billion in trade, projects across multiple industrial sectors, and Belarusian input into Uzbekistan’s first nuclear power plant and related infrastructure. This elevates ties from expanding cooperation to a formally defined long-term partnership with broader economic, political, and technical coordination. The framework could deepen industrial supply chains and transfer Belarusian nuclear infrastructure experience to Uzbekistan’s planned energy program.

Uzbekistan and Belarus Launch $164 Million Industrial Project Pipeline
Uzbekistan and Belarus approved seven joint manufacturing projects worth $164 million at their third Forum of Regions in Minsk. A 2026–2030 cooperation plan targets $2 billion in trade and prioritizes electrical engineering, textiles, agriculture, pharmaceuticals, construction materials, and furniture, supported by 14 regional agreements. The new pipeline expands existing cooperation in cables, tractors, pharmaceuticals, poultry processing, and mining-equipment assembly into additional regional production facilities. The projects could add processing capacity and localized supply chains in Andijan, Tashkent, and Fergana regions.

Uzbekistan Seeks 700,000-Tonne Tajik Iron Ore Supply From 2027
Uzbekistan instructed officials on 14 July 2026 to accelerate an agreement for importing 700,000 tonnes of iron ore annually from Tajikistan. Imports are planned from 2027 alongside domestic projects at Surun-Ota and Tebinbulak and a separate memorandum covering 300,000 tonnes of direct reduced iron from the third quarter of 2027. The strategy supplements Uzbekistan’s estimated 1.5 billion tonnes of reserves because major domestic deposits require further development before supplying expanded steel production. Diversified imports could stabilize feedstock for Uzmetkombinat while domestic mining and processing capacity is built.

Uzbekistan and Turkmenistan Establish Information-Security Cooperation Framework

Uzbekistan and Turkmenistan signed two cooperation documents in Ashgabat following foreign-minister talks reported on 15 July 2026. The package includes an intergovernmental agreement on international information security and a foreign-ministry cooperation program for 2027–2028. Unlike broader declarations of political cooperation, the documents create defined channels for diplomatic coordination and security-related institutional work. The framework could standardize exchanges between the ministries and expand bilateral coordination on information-security issues at the international level.

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Dear Member, you can read our: Special Edition - 5th Anniversary of the Tashkent International Investment Forum and EUROUZ’ European Evening Reception at TIIF & Annual General Meeting 2026

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BAKNING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

EUROUZ & MEMBER NEWS

EUROUZ EVENTS: The European Evening Reception at TIIF 2026

On 17 June 2026, EUROUZ successfully hosted the European Evening Reception, bringing together around 500 business leaders, investors, ambassadors, and representatives of international organizations, marking the largest side event of TIIF2026.

Organized in cooperation with the European Investment Bank (EIB), the reception once again served as one of the leading platforms for dialogue, fostering new partnerships, investment opportunities, and high-level engagement in Uzbekistan. The evening featured the official inauguration of the European Investment Bank Regional Representation for Central Asia, marking an important milestone in strengthening cooperation between Uzbekistan and the European Union.

The event featured addresses by Pierre-Paul Antheunissens, CEO of EDF Central Asia; Marek Mora, Vice-President of the European Investment Bank; The Rt Hon Lord Jason Stockwood, UK Minister of State for Investment; as well as representatives of the event’s sponsors, including Jean-Philippe Gillet, President of SES, and Djasur Djumaev, Founder and CEO of UZUM.

The reception reaffirmed the shared commitment of Uzbekistan and its European partners to promoting investment, economic modernization, regional connectivity, and sustainable growth.

A special thank you is extended to our valued sponsors and partners whose support made this event successful :

• Gold Sponsors: Ipoteka Bank (OTP Group), SES, Uzum and European Investment Bank (EIB),

• Silver Sponsors: Crowe, Paynet, Schneider Group, Veolia

• Bronze Sponsors: Ahlers Logistics, BDO, Legalmax, NEO Insurance, Quorus, UET Construction

• Event Partners: British Embassy in Uzbekistan, Kingdom of the Netherlands, AustriaAdvantage, Delegation of German Economy in Central Asia, BeneLux Chamber Branch in Uzbekistan, and CCI France Ouzbékistan (France–Uzbekistan Chamber of Commerce)
  

Event Photos \ Press release

EUROUZ Annual General Meeting 2026

EUROUZ convened its 2026 Annual General Meeting an important milestone in the Association’s continued growth and its work to advance European–Uzbek economic cooperation. Secretary General Atabek Alimdjanov presented the Annual Report and financial overview, highlighting EUROUZ’s progress, expanding activities, and priorities for the year ahead. The Chairs of all EUROUZ Committees presented the results of their work and set out their plans for the next stage of engagement.

H.E. Toivo Klaar, EU Ambassador to Uzbekistan, addressed members and shared his perspective on strengthening cooperation with the European business community and deepening the EU’s economic engagement in Uzbekistan. The AGM also formally endorsed the results of the Board of Directors election, following the participation of more than 105 member companies reflecting the strong engagement and confidence of the EUROUZ membership.

We thank all our members for their continued trust, active participation, and commitment to shaping a stronger European business presence in Uzbekistan.

Event Photos

EUROUZ is pleased to announce the results of the Board of Directors Elections for the 2026–2028 term

Following the election process, EUROUZ members elected nine representatives to serve on the Association’s Board of Directors. The newly elected Board will officially assume office on 1 September 2026.

The elected Board Members are:
• Abdulkhamid Muminov (PwC)
• Andi Aranitasi (European Bank for Reconstruction and Development)
• Dan Marius-Vasile (Franklin Templeton)
• Ketevan Antidze (Commerzbank AG)
• Olivier Emmanuel Kueny (European Investment Bank)
• Oybek Shaykhov (East-West Group)
• Pierre-Paul Antheunissens (EDF Power Solutions)
• Vera Bell (Crowe Uzbekistan)
• Zafar F. Vakhidov (Vakhidov & Partners)

We look forward to the engagement, leadership, and strategic guidance of the newly elected Board as it begins its term, which will help further strengthen the European business community in Uzbekistan.

EUROUZ Welcomes Prof. Dr. Klaus Mangold as an Honorary Member of the Board

EUROUZ is pleased to announce the Annual General Meeting decision on the appointment of Prof. Dr. Klaus Mangold, Chairman of Mangold Consulting GmbH and one of the founders of EUROUZ, as an Honorary EUROUZ Board of Directors. Prof. Dr. Mangold has played an important role in the establishment and development of EUROUZ and brings extensive international leadership experience, strategic insight and a strong record of advancing economic cooperation and dialogue between Europe and international markets.

In this honorary capacity, he will continue to support EUROUZ’s mission of strengthening economic and business relations between Europe and Uzbekistan and contribute his experience and international perspective to the Association’s strategic development

EUROUZ Advances Cooperation with Mitsubishi Heavy Industries in Uzbekistan

Senior Vice President Hiroshi Matsuta and Operations Director Nadezhda Romanova represented Mitsubishi Heavy Industries at a recent meeting with EUROUZ. The parties reviewed the company’s regional activities and developments in Uzbekistan’s economic and industrial landscape. They also discussed the business environment, investment opportunities, and potential cooperation areas. EUROUZ outlined ways to support the company’s engagement and objectives in the Uzbek market. Both sides agreed to continue their cooperation.

EUROUZ Connects Leaders After Tashkent Investment Forum 2026

On 29 June, EUROUZ convened the Executive & Diplomatic Leaders Club to get together and discuss the outcomes of the Tashkent International Investment Forum 2026, bringing together senior representatives of business, government, the diplomatic community, and international institutions. The evening carried forward the momentum of the Forum, providing a distinguished setting to reflect on key outcomes, exchange perspectives, and explore the next steps for investment and cooperation. The meeting once again highlighted the value of the Club as a platform for trusted dialogue, strategic engagement, and stronger connections between Europe and Uzbekistan.

Event Photos

EUROUZ welcomes a new member – CMC Solutions LLC

Part of the internationally recognized CMC Group, founded in 2009 in Tbilisi, Georgia, the company is a leading provider of professional project and construction management services. Over the years, CMC has successfully delivered more than 150 projects across three continents, supporting investments exceeding USD 728 million through a combination of engineering expertise, international best practices, and strong project governance. As part of its strategic expansion into Central Asia, CMC has established CMC Solutions LLC in Uzbekistan, bringing extensive experience in the hospitality, commercial, residential, and mixed-use sectors. The company specializes in project management, construction supervision, cost control, and quality assurance, helping clients deliver complex projects efficiently and transparently.

EUROUZ welcomes a new member – New Stage Advisory

New Stage Advisory is an international consultancy specializing in corporate reputation, strategic communications, public affairs, and investor relations, supporting organizations through periods of growth, market expansion, stakeholder engagement, and complex business challenges. With offices in Zurich and Tashkent and a network of partners across major global business centres, including London, Delhi, Dubai, Beijing, Hong Kong, and Kuala Lumpur, the firm combines international expertise with deep regional insight. In Uzbekistan, New Stage Advisory works in partnership with FTI Consulting, one of the world's leading advisory firms. The company's Tashkent office serves as a regional hub for Central Asia and the CIS, helping clients navigate dynamic markets, strengthen stakeholder relationships, and communicate effectively in an increasingly interconnected business environment.

EUROUZ Member Avesta Investment Group Hosts Capital Markets Day 2026
On June 18, 2026, Avesta Investment Group held Capital Markets Day in Tashkent alongside TIIF 2026. The event brought together international financial institutions, investment banks, private equity funds, commercial banks, issuers, and investors. Speakers from IFC, Franklin Templeton, Ipoteka Bank OTP Group, UzMRC, SQB, and other institutions reviewed market development. Discussions covered deal flow and Uzbekistan’s evolving investment landscape. Avesta said it plans to convene further industry events.

EUROUZ Member Voltalia Starts 500kW Agrivoltaics Project in Uzbekistan|
On June 19, 2026, Voltalia launched construction of a pilot agrivoltaics facility in Uzbekistan’s Tashkent region. The project will install solar panels on agricultural land to generate electricity. Its first photovoltaic station will have 500 kW of capacity. Energy and agriculture officials reviewed implementation stages and possible expansion to other regions. Uzbekistan plans to use similar systems across 2,000 hectares nationwide.

EUROUZ Member ACWA Launches Uzbek-Saudi Youth Skills Program

In June 2026, ACWA joined Uzbek and Saudi partners at TIIF in Tashkent to launch a vocational training initiative. A joint steering committee will coordinate and expand the programme. Saudi Arabia’s Energy and Water Academy will develop courses, while ACWA will serve as a key implementation partner. The first year will train 100 Uzbek participants, beginning in Karakalpakstan. ACWA Sergeli also signed a memorandum with Miahona to support the project’s financial sustainability.

EUROUZ Member Coca-Cola Leads TIIF Circular Economy Dialogue
On June 17, 2026, Coca-Cola organized a circular economy panel during TIIF in Tashkent. The session brought together executives from Veolia, SUEZ, ODAS Group, I-Environment Investments, and Uzbekistan’s waste agency. Participants examined waste infrastructure, water resilience, urban decarbonization, and investment requirements. Coca-Cola presented sustainable packaging, water stewardship, and supply-chain resilience as core business priorities. The company said it will share experience on producer responsibility and water replenishment to support joint solutions.

EUROUZ Member Rhenus Invests €11M in Andijan Logistics Terminal
On June 18, 2026, Rhenus announced a three-phase modernization of its Andijan logistics terminal with Uzbekistan Railways. The €11 million project will convert the site into a road-rail intermodal hub. The terminal will store about 2,000 TEU and include 1,140 meters of track. After the first stage, annual handling capacity should reach 200,000 TEU. Construction will begin in July 2026, supporting exports and Trans-Caspian freight.

EUROUZ Member SUEZ Joins Uzbekistan’s $78M Waste Processing Project
On June 19, 2026, SUEZ signed a Head of Terms agreement at TIIF in Tashkent with Uzbekistan’s waste agency and Saudi Arabia’s Vision International Investment Company. The partners will develop facilities for hazardous industrial and household waste. The project carries an estimated investment value of $78 million. It will introduce treatment, disposal, and recycling processes aligned with European environmental standards. The parties will use the framework to advance Uzbekistan’s Zero Waste transition.

EUROUZ Member Meros Pharm Partners with SLC on Medical English Training

On June 12, 2026, Samarkand-based Meros Pharm and Britain’s Specialist Language Courses signed a cooperation agreement in London. The programme will improve English skills among Uzbekistan’s medical and pharmaceutical professionals through internationally standardised courses and specialised training. SLC serves doctors, nurses, pharmacists, educators, and institutions in more than 75 countries. The initiative will expand practical UK-Uzbek cooperation in medical education and pharmaceuticals. The partners plan to establish a specialised training centre in Uzbekistan.

EUROUZ Member EBRD Expands Financing Partnerships in Uzbekistan

On June 18, 2026, EBRD President Odile Renaud-Basso met Deputy Prime Minister Jamshid Kuchkarov in Tashkent. The bank signed cooperation agreements with Uzpromstroybank and the Uzbekistan Mortgage Refinancing Company. The accords will expand financial instruments for small businesses, young entrepreneurs, and mortgage lending. Officials also reviewed state-bank transformation, corporate governance, and private capital participation. Both sides agreed to broaden cooperation in infrastructure, financial reform, and capital markets.

Build Textile Partnerships at CAITME 2026

CAITME 2026, Central Asia’s leading international textile machinery exhibition, is getting ready to bring together global manufacturers, suppliers, and innovators. The event offers direct access to the latest textile technologies, investment opportunities, and high-value B2B partnerships in one of the region’s fastest-growing markets. For companies seeking expansion into Central Asia, CAITME has served as a strategic gateway to market entry, new business opportunities, and long-term industry partnerships for over 17 years.

Book your best spot here

EUROUZ Member Toyota Central Asia Adopts New Name for Regional Distribution

During 2026, Summit Motors Central Asia FC LLC changed its corporate name to Toyota Central Asia FC LLC. The company continues to distribute Toyota vehicles, genuine spare parts, and accessories in Uzbekistan, Tajikistan, and Turkmenistan. The new identity aligns the business more closely with Toyota’s global network and regional role. The company will maintain its focus on mobility, infrastructure development, and partnerships across Central Asia. It also plans to support automotive industry growth in the region.

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1. INTERNATIONAL COOPERATION

1.1 EUROPE

Uzbekistan and Tony Blair Institute Set Reform Cooperation Priorities

On June 25, 2026, President Shavkat Mirziyoyev received Tony Blair, former British prime minister and chair of the Tony Blair Institute for Global Change. They reviewed practical cooperation to provide expert support for reforms in Uzbekistan. The talks identified joint projects, investor engagement, and digital transformation as priority areas. The partnership aims to introduce advanced technological and innovative solutions in key economic sectors. Both sides will focus future cooperation on implementing these agreed priorities.

Saida Mirziyoyeva and President Macron Advance Uzbekistan–France Strategic Partnership

On June 30, 2026, Saida Mirziyoyeva met French President Emmanuel Macron and conveyed greetings from President Shavkat Mirziyoyev. They discussed the continued development of bilateral relations and future joint initiatives. Cooperation currently covers energy, transport, infrastructure, education, and healthcare. The meeting reinforced Uzbekistan’s commitment to long-term engagement with France and the wider European community. Mirziyoyeva expressed confidence that both countries would implement mutually beneficial projects across their established areas of partnership.

Uzbekistan and France Expand Cooperation Across Five Priority Sectors
On June 30, 2026, Presidential Administration Head Saida Mirziyoyeva met French Foreign Minister Jean-Noël Barrot for talks on bilateral relations. The parties reviewed joint work in energy, transport, infrastructure, education, and healthcare. Mirziyoyeva described France as a strategic European partner and supported broader practical engagement. The dialogue advances Tashkent’s policy of deepening mutually beneficial ties with France and other European states. Uzbekistan plans to continue strengthening its role as a stable partner in Central Asia.

Samarkand Express Advances Toward Central Asia’s First Luxury Rail Service
On June 16, 2026, Uzbekistan Railways, the Art and Culture Development Foundation, and Italy’s Arsenale International signed a trilateral framework agreement in Tashkent. The document creates governance and coordination mechanisms for the project’s operational phase. The train will link Tashkent, Samarkand, Bukhara, and Khiva along historic Silk Road routes. The service will expand Uzbekistan’s premium tourism offering. Italian specialists will complete high-end interiors and install equipment in the first carriage.

European Investment Bank Opens Central Asia Office in Tashkent

In June 2026, the European Investment Bank launched regional operations from Tashkent to strengthen project delivery across Central Asia. Its agenda covers the Trans-Caspian route, major hydropower facilities, digital connectivity, and green infrastructure. The bank’s Uzbekistan pipeline, including signed projects and memoranda, has reached €1 billion. The office will support financing and advisory work aligned with national and EU strategies. Due diligence will precede support for Tashkent’s proposed Surum wastewater plant.

Škoda Expands Uzbekistan’s Commuter Fleet Through €120M Contract
During TIIF 2026 in Tashkent, Škoda Group and Uzbekistan Railways’ commuter subsidiary finalized implementation terms for a commuter fleet upgrade. The manufacturer will provide 10 electric units built for the 1,520 mm track standard. The trains will include European control networks and climate systems for commuter operations. The project will strengthen energy efficiency, safety, and domestic technical capacity. A local maintenance venture and Škoda Academy will support repairs, skills transfer, and engineering employment.

1.2 CENTRAL ASIA, CAUCASUS & CIS

CASCA+ Members Sign Protocol to Accelerate Regional Freight
On June 15, 2026, railway officials from six countries concluded regional talks hosted by Uzbekistan Railways. The protocol sets measures to shorten transit times, improve service quality, and introduce competitive tariffs. Delegates reviewed corridor performance in 2025 and the first quarter of 2026. The roadmap aims to increase freight volumes and remove barriers affecting cross-border trade. Members will continue work on refrigerated services, digital tracking, and a dedicated corridor consortium.

Central Asian States Set July–August Resource Supply Schedules
On June 20, 2026, energy and water officials from three countries met in Bishkek to review shared resource management. The protocol sets water-release and electricity-supply schedules for July and August. Participants also reviewed preparations for the 2026–2027 irrigation and autumn–winter periods. The measures support stable grid operations and regional water security amid rising demand. The ministries will hold their next coordination meeting in August 2026.

Uzbekistan and Kazakhstan Reinforce Strategic Partnership Through Presidential Talks

On June 21, 2026, Saida Mirziyoyeva met Kazakh President Kassym-Jomart Tokayev to review bilateral relations. She conveyed greetings from Uzbekistan’s president and thanked Tokayev for the reception. The talks focused on strengthening cross-border cooperation and coordination between Tashkent and Astana. The meeting supported continued diplomatic engagement between the neighboring states. Both sides will maintain efforts to deepen their established strategic and allied relations.

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“Investment is a driver for cutting-edge technology, contemporary expertise, employment creation, and growth aligned with a fast-evolving global landscape.”
— Shavkat Mirziyoyev, President of Uzbekistan

“Reforms require a proven track record... years of evidence now support the process in Uzbekistan.”
— Julia Hoggett, CEO of the London Stock Exchange

“Participation of the European Bank for Reconstruction and Development in platforms such as TIIF reflects our confidence in the long-term potential of Central Asia and our readiness to support sustainable development projects together with our Uzbek partners.”
— Odile Renaud-Basso, President of the EBRD

Uzbekistan Hosted the 5th Anniversary Tashkent International Investment Forum resulted in agreements totaling $43.1bn

The 5th Anniversary Tashkent International Investment Forum (TIIF 2026), held from June 16–18, 2026, in Tashkent, Uzbekistan, marked a significant pivot from merely attracting capital to providing an institutional framework that protects and supports global investments. The summit drew over 7,600 participants from 100 countries, establishing Central Asia as a premier global business hub. The forum concluded with 166 signed agreements totaling $43.1bn (EUR37.6bn), among them 139 new projects worth $31.8bn (EUR27.7bn), as disclosed in post-event data.

Critical Minerals & Technology Pacts

• Entity Involved: The State-owned Uzbekistan Technological Metals Complex (TMK).

• The Pacts: Executed 10 international cooperation memorandums and agreements.

• Core Domains: Joint investment, exploration, and R&D targeting regional lithium, copper, and rare earth elements.

• Partners: Finalized with global manufacturers and financial institutions during the China and SCO Countries Investment Dialogue.

Regional Infrastructure & Tourism Hubs

• Samarkand Development: Signed agreements valued at over $700 million.

• Focus Areas: Modernizing industrial infrastructure and advancing travel services around the newly renovated Samarkand International Airport.

• Silk Road Trade Pact: A dedicated bilateral expansion pact was sealed with a leading travel enterprise from China’s Shaanxi Province to optimize historical tourist corridors.

Bilateral Business & Corporate Frameworks

Comprehensive framework agreements were finalized across 7 dedicated bilateral country forums. These pacts laid out cross-border capital channels between local entities and top-tier global asset firms—including representatives from Masdar, ACWA Power, DP World, AD Ports Group, BlackRock, and Franklin Templeton.

• United States & South Korea: Pacts focused on industrial equipment manufacturing and software integration.

• China & Turkey: Infrastructure logistics, customs standardization, and supply chain routing.

• Saudi Arabia & UAE: Large-scale renewable energy infrastructure and joint sovereign funding structures

Uzbekistan and Germany Launch Joint Industrial and Financial Infrastructure Projects

On June 17, 2026, President Shavkat Mirziyoyev and German Federal President Frank-Walter Steinmeier signed a Joint Statement following comprehensive bilateral talks in Tashkent. The leaders finalized framework agreements providing direct grants and concessional financing for sustainable urban development initiatives. The partnership immediately launched several industrial projects, including a Volkswagen assembly plant in Tashkent and a major logistics hub in the Andijan region. These strategic investments aim to expand industrial cooperation, modernize regional infrastructure, and generate new technical employment opportunities. Delegations concluded the summit by exchanging implementation roadmaps to establish specialized educational examination facilities and railway training centers.

Uzbekistan and Albania Launch Joint Intergovernmental Economic Commission

On June 16, 2026, President Shavkat Mirziyoyev and Albanian President Bajram Begay held official bilateral negotiations at the Kuksaroy Residence in Tashkent. The heads of state agreed to establish a joint Intergovernmental Commission to prepare cooperation programs in green energy, agriculture, geology, and technology. To optimize trade routes into Southern Europe, the delegations initiated plans to utilize Albania’s Port of Durrës as a primary maritime logistics hub. The historic summit establishes the first formal framework for long-term legal, economic, and cultural partnerships between the two nations. The newly formed commission will convene its inaugural meeting in Tashkent later this year.

Uzbekistan Exchanges Bilateral Documents With Major United States Corporations

On June 16, 2026, President Shavkat Mirziyoyev hosted a high-level delegation of major United States financial institutions and corporations in Tashkent. The official roundtable included executive leadership from the US EXIM Bank, DFC, BlackRock, Boeing, Meta, and JPMorgan. Participants prioritized the joint development and processing of critical raw minerals alongside advancements in artificial intelligence, digital finance, and energy infrastructure. The strategic engagement reinforces the economic agenda as a primary pillar of the bilateral partnership between the two nations. The session concluded with an official exchange ceremony of binding bilateral implementation documents to launch these industrial projects.

Foreign Investors Council Meeting

President Shavkat Mirziyoyev chaired the Foreign Investors Council session at Tashkent’s International Congress Center. Officials grouped 120 proposals into seven areas covering taxation, banking, governance, energy, artificial intelligence, and the digital economy. The council includes 85 companies across 23 sectors and has held 50 working-group meetings. The measures advance regulatory alignment and direct state engagement with international investors. Authorities will create an implementation roadmap, with ministers reporting progress to the President quarterly.

Other Key Meetings in the Framework of TIIF 2026

• Odile Renaud-Basso — President of the European Bank for Reconstruction and Development (EBRD).

• Julia Hoggett — Chief Executive Officer of the London Stock Exchange.

• John Jovanovic — President and Chairman of the Export-Import Bank of the United States (US EXIM Bank).

• Ben Black — Chief Executive Officer of the U.S. International Development Finance Corporation (DFC).

• Li Ruogu — Senior Advisor and former President of the Export-Import Bank of China.

Global Heads of State & Prime Ministers

• Ali Asadov — Prime Minister of the Republic of Azerbaijan.

• Oljas Bektenov — Prime Minister of the Republic of Kazakhstan.

• Anwar Ibrahim — Prime Minister of Malaysia.

• Mikhail Mishustin — Chairman of the Government (Prime Minister) of the Russian Federation.

• Aleksandr Turchin — Prime Minister of the Republic of Belarus.

• Adilbek Kasimaliyev — Chairman of the Cabinet of Ministers, Kyrgyz Republic.

• Khamis bin Saif al-Jabri — Minister of Economy of the Sultanate of Oman (Delegation Head).

• Lord Jason Stockwood — State Minister for Investment of the United Kingdom (Delegation Head).

International Corporate Executives
United States Delegation

• Eduardo Menezes — CEO of Air Products.

• Carolyn Lamm — Chair of the American-Uzbekistan Chamber of Commerce.

• Plenary Executives: Managing directors and senior VPs from BlackRock, Boeing, Meta, Visa, JPMorgan, Templeton Global Investments, Cove Capital, FLS, and 77 Construction.

China Corporate Delegation

• He Ruixin — Chairman of the Board of China CAMC Engineering (CAMCE).

• Chen Dekun — President of China Railway Rolling Stock Corporation (CRRC).

• Zhang Min — President of China Construction Bank (CCB).

• Wang Jian — Vice President of China Export & Credit Insurance Corporation (SINOSURE).

• Liu Shiquan — Chairman of China North Industries Corporation (NORINCO).

United Arab Emirates & Saudi Arabia Delegation

• Suhail Al Mazrouei — Minister of Energy and Infrastructure of the UAE.

• Mohamed Jameel Al Ramahi — CEO of Masdar.

• Sultan Ahmed bin Sulayem — Group Chairman and CEO of DP World.

• Mohamed Juma Al Shamisi — Managing Director and Group CEO of AD Ports Group.

• Hussain Al Nowais — Chairman of AMEA Power.

• Muhammad Abunayyan — Chairman of the Board of ACWA Power.

EUROUZ EVENTS: The European Evening Reception at TIIF 2026

On 17 June 2026, EUROUZ successfully hosted the European Evening Reception, bringing together around 500 business leaders, investors, ambassadors, and representatives of international organizations, marking the largest side event of TIIF2026.

Organized in cooperation with the European Investment Bank (EIB), the reception once again served as one of the leading platforms for dialogue, fostering new partnerships, investment opportunities, and high-level engagement in Uzbekistan. The evening featured the official inauguration of the European Investment Bank Regional Representation for Central Asia, marking an important milestone in strengthening cooperation between Uzbekistan and the European Union.

The event featured addresses by Pierre-Paul Antheunissens, CEO of EDF Central Asia; Marek Mora, Vice-President of the European Investment Bank; The Rt Hon Lord Jason Stockwood, UK Minister of State for Investment; as well as representatives of the event's sponsors, including Jean-Philippe Gillet, President of SES, and Djasur Djumaev, Founder and CEO of UZUM.

The reception reaffirmed the shared commitment of Uzbekistan and its European partners to promoting investment, economic modernization, regional connectivity, and sustainable growth.

A special thank you is extended to our valued sponsors and partners whose support made this event successful :

• Gold Sponsors: Ipoteka Bank (OTP Group), SES, Uzum and European Investment Bank (EIB),

• Silver Sponsors: Crowe, Paynet, Schneider Group, Veolia

• Bronze Sponsors: Ahlers Logistics, BDO, Legalmax, NEO Insurance, Quorus, UET Construction

• Event Partners: British Embassy in Uzbekistan, Kingdom of the Netherlands, AustriaAdvantage, Delegation of German Economy in Central Asia, BeneLux Chamber Branch in Uzbekistan, and CCI France Ouzbékistan (France–Uzbekistan Chamber of Commerce)

Event Photos \ Press release

EUROUZ Annual General Meeting 2026

EUROUZ convened its 2026 Annual General Meeting an important milestone in the Association’s continued growth and its work to advance European–Uzbek economic cooperation. Secretary General Atabek Alimdjanov presented the Annual Report and financial overview, highlighting EUROUZ’s progress, expanding activities, and priorities for the year ahead. The Chairs of all EUROUZ Committees presented the results of their work and set out their plans for the next stage of engagement.

H.E. Toivo Klaar, EU Ambassador to Uzbekistan, addressed members and shared his perspective on strengthening cooperation with the European business community and deepening the EU’s economic engagement in Uzbekistan. The AGM also formally endorsed the results of the Board of Directors election, following the participation of more than 105 member companies reflecting the strong engagement and confidence of the EUROUZ membership.

We thank all our members for their continued trust, active participation, and commitment to shaping a stronger European business presence in Uzbekistan.

Event Photos

EUROUZ is pleased to announce the results of the Board of Directors Elections for the 2026–2028 term

Following the election process, EUROUZ members elected nine representatives to serve on the Association’s Board of Directors. The newly elected Board will officially assume office on 1 September 2026.
The elected Board Members are:

• Abdulkhamid Muminov (PwC)
• Andi Aranitasi (European Bank for Reconstruction and Development)
• Dan Marius-Vasile (Franklin Templeton)
• Ketevan Antidze (Commerzbank AG)
• Olivier Emmanuel Kueny (European Investment Bank)
• Oybek Shaykhov (East-West Group)
• Pierre-Paul Antheunissens (EDF Power Solutions)
• Vera Bell (Crowe Uzbekistan)
• Zafar F. Vakhidov (Vakhidov & Partners)

We look forward to the engagement, leadership, and strategic guidance of the newly elected Board as it begins its term, which will help further strengthen the European business community in Uzbekistan.

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ABOUT US

EUROUZ OR EUROPE-UZBEKISTAN ASSOCIATION FOR ECONOMIC COOPERATION (EUROUZ.EU) IS A EUROPEAN COOPERATION PLATFORM ESTABLISHED TO ASSIST THE EUROPEAN BUSINESS COMMUNITY IN DEVELOPING AND STRENGTHENING BUSINESS, INVESTMENT, AND TRADE COOPERATION TIES WITH UZBEKISTAN.

ALL ORGANISATIONS OF ANY LEGAL FORM REGISTERED WITHIN THE EUROPEAN ECONOMIC AREA + UK AND SWITZERLAND OR THOSE LEGALLY REGISTERED IN UZBEKISTAN ARE ELIGIBLE TO BECOME MEMBERS OF EUROUZ.

EUROUZ IS A NON-COMMERCIAL, NON-PROFIT, NON-GOVERNMENT ASSOCIATION ESTABLISHED IN BRUSSELS WITH A BRANCH OFFICE IN THE PROCESS OF REGISTRATION IN UZBEKISTAN. FOR ANY INQUIRIES, CONTACT US VIA: INFO@EUROUZ.COM

DISCLAIMER

THE DATA, ANALYSIS AND ANY OTHER INFORMATION (THE “INFORMATION”) CONTAINED IN THE EUROUZ MONTHLY REPORT ON UZBEKISTAN (THE “REPORT”) IS FOR INFORMATIONAL PURPOSES ONLY. IT IS NEITHER INTENDED AS A SUBSTITUTE FOR ADVICE FROM BUSINESS, FINANCE, INVESTMENT CONSULTANT OR OTHER PROFESSIONALS, NOR IS IT MEANT TO BE A BENCHMARK OR INPUT DATA TO A BENCHMARK OF ANY KIND. WHILST REASONABLE EFFORTS HAVE BEEN MADE TO ENSURE THE ACCURACY OF THE INFORMATION CONTAINED IN THE REPORT, EUROUZ MAKES NO WARRANTIES OR REPRESENTATIONS AS TO ITS ACCURACY, RELEVANCE OR COMPREHENSIVENESS AND ASSUMES NO LIABILITY OR RESPONSIBILITY FOR ANY INACCURACY, ERROR OR OMISSION OR FOR ANY LOSS OR DAMAGE ARISING IN CONNECTION WITH OR ATTRIBUTABLE TO ANY ACTION OR DECISION TAKEN AS A RESULT OF USING OR RELYING ON THE INFORMATION IN THE REPORT. THE VIEWS EXPRESSED IN THE REPORT ARE THOSE OF EUROUZ AND DO NOT NECESSARILY REFLECT THE VIEWS OF ITS GOVERNING BODIES. FULL REPRODUCTION, COPYING OR TRANSMISSION OF THE REPORT IS NOT PERMITTED IN ANY FORM OR BY ANY MEANS BY THIRD PARTIES WITHOUT EUROUZ’S WRITTEN PERMISSION. HOWEVER, THE INFORMATION CONTAINED THEREIN MAY BE USED AND/OR REPRODUCED FOR EDUCATIONAL AND OTHER NON-COMMERCIAL PURPOSES WITHOUT THE EUROUZ’S PRIOR WRITTEN PERMISSION, PROVIDED THAT THE REPORT IS REFERENCED. THE REPORT MAY CONTAIN REFERENCES TO MATERIAL(S) FROM THIRD PARTIES, WHOSE COPYRIGHT MUST BE ACKNOWLEDGED BY OBTAINING NECESSARY AUTHORIZATION FROM THE COPYRIGHT OWNER(S). EUROUZ OR ITS GOVERNING BODIES SHALL NOT BE LIABLE OR RESPONSIBLE FOR ANY UNAUTHORISED USE OF ANY THIRD-PARTY MATERIAL(S).

EMAIL: info@eurouz.com

COPYRIGHT © 2025 - ALL COPYRIGHTS RESERVED

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Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BAKNING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

EUROUZ & MEMBER NEWS

1. EUROUZ joins the EBOWN Annual Meeting 2026

   

   EUROUZ is participating in the EBOWN Annual Meeting 2026, taking place from 1–5 June in Brussels and bringing together more than 60 European Business Organisations, chambers of commerce, and trade associations from across global markets. As the official European business association in Uzbekistan and a member of the European Business Organisations Worldwide Network (EBOWN), EUROUZ is taking part in discussions with EU institutions, Members of the European Parliament, and international stakeholders on EU competitiveness, trade, investment cooperation, and EU–Central Asia relations.
   
   A key focus of the meetings is discussing how EU institutions can better support the interests of EUROUZ members and further strengthen EU–Uzbekistan economic cooperation. The meetings also provide an important opportunity to exchange views, experiences, and best practices with business associations worldwide in order to deliver greater value and more effective support to EUROUZ members.

   ---

2. EUROUZ and Uzbekistan’s Embassy Coordinate Cooperation Priorities in Brussels

   

   EUROUZ held a working meeting in Brussels with Uzbekistan’s Ambassador to Belgium, Gayrat Fazilov, to discuss ongoing cooperation and shared priorities. The discussions focused on coordinating activities across Brussels, the BENELUX countries, and the broader European market. Both sides reviewed opportunities to strengthen engagement in support of economic and commercial relations between Uzbekistan and Europe. The meeting underscored the importance of close cooperation between EUROUZ and the Embassy of Uzbekistan in Belgium and the Mission to the European Union. The parties agreed to continue supporting initiatives that promote business partnerships and member engagement across the region.

   ---

3. EUROUZ welcomes a new member – Transasia Group

   

   Founded in 2008, Transasia Group is one of Central Asia’s leading integrated logistics operators, providing end-to-end supply chain solutions across road, rail, sea, and air transportation. Headquartered in Tashkent, the company operates across Uzbekistan, Kazakhstan, Kyrgyzstan, and key regional transit hubs, connecting Central Asia with Europe, China, and global markets. The company offers a full range of logistics services, including freight forwarding, customs brokerage, 3PL warehousing, consolidation, multimodal transportation, and project cargo management. With strong regional expertise and an extensive international partner network, Transasia Group supports businesses with efficient and coordinated logistics solutions tailored to complex regional supply chains.

   ---

4. EUROUZ welcomes a new member – VERITASLAW LLC

   

   Established in 2017 and headquartered in Tashkent, VERITASLAW LLC is a specialized legal services company providing assistance in obtaining duplicate civil status documents and certificates from registry offices and other state authorities of the Republic of Uzbekistan. The company supports individuals and organizations in navigating administrative procedures related to document recovery and verification, helping clients efficiently obtain the necessary records and evidence while minimizing the need for personal presence and lengthy bureaucratic processes.

   ---

5. EUROUZ welcomes a new member – The Sales Association of Georgia

   

   The Sales Association is an independent business organization based in Georgia, bringing together more than 120 member companies and supporting the international growth and competitiveness of the Georgian private sector through networking initiatives, business forums, and international business delegations. The Association has developed a strong track record of connecting businesses across borders, including participation in major international events and trade missions in Europe and Asia. Through its activities, The Sales Association continues to strengthen business dialogue, promote entrepreneurship, and create new opportunities for cooperation between companies in Georgia and international markets.

   ---

6. Exhibitions Create Opportunities: Results of the Iteca Exhibitions Spring Season 2026

   Marking the Global Exhibitions Day 2026, Iteca Exhibitions reflected on a successful spring season defined by strong industry engagement, new partnerships, and tangible business outcomes — paving the way for new technologies, products, and innovations to enter the market in the months to come. Thank you to all exhibitors, partners, speakers, visitors, and professionals who contributed to making this season a success!

   From breakthrough technologies and strategic conversations to new partnerships and market expansion – explore the key highlights across multiple industries here.

Did you know that EUROUZ members and ALL their employees can access the Uzbek.Review portal free of charge as long as their organization remains a member?

Not a member yet?

Join EUROUZ to access exclusive market support for your business activities in the country.

1. INTERNATIONAL COOPERATION

1.1 EUROPE

Saida Mirziyoyeva Holds Talks with Austrian Chancellor

On June 3, 2026, Saida Mirziyoyeva met Austrian Federal Chancellor Christian Stocker in Austria to discuss bilateral relations. The talks focused on expanding cooperation in political dialogue, trade, investment, and cultural exchanges. Both sides also reviewed opportunities to strengthen engagement between Uzbekistan and the European Union. The discussions support efforts to deepen Uzbek-Austrian cooperation across areas of mutual interest. The parties agreed to maintain regular high-level contacts and advance joint initiatives.

Belgium Opens Embassy in Tashkent
Belgian media reported that Belgium had decided to open an embassy in Tashkent. The move establishes Belgium’s first diplomatic mission in Uzbekistan since diplomatic relations were launched in 1992. Uzbekistan has operated an embassy in Brussels since 1995 to manage relations with Belgium and European institutions. The new mission is expected to strengthen political dialogue and support cooperation in trade, investment, logistics, education, and tourism. The embassy will facilitate the implementation of future bilateral projects.

Uzbekistan Signs Migration and Mobility Pact with Sweden

Uzbekistan and Sweden signed an agreement on migration and mobility alongside a joint declaration launching a pilot cooperation program. The documents create legal mechanisms for employment, education, and residency opportunities for Uzbek citizens in Sweden. The partnership includes Swedish language courses, vocational training, and direct cooperation between Uzbek job seekers and Swedish employers. The agreement aims to expand legal migration channels while protecting participants’ rights and improving labor mobility. Both countries will also simplify visa procedures and strengthen cooperation against illegal migration and human trafficking.

Uzbekistan and Austria Deepen Parliamentary Cooperation
During a visit to Vienna on June 1, Saida Mirziyoyeva held talks with Austrian parliamentary leaders and senior United Nations officials. Discussions with Austrian counterparts focused on bilateral relations and Uzbekistan’s reforms in public administration and democratic development. Mirziyoyeva also met UNODC Executive Director Monica Juma to review cooperation on combating drug-related threats and supporting crime prevention initiatives. The meetings underscored Uzbekistan’s engagement with international partners on security and governance issues. The parties agreed to continue expanding cooperation through existing bilateral and multilateral frameworks.

1.2 CENTRAL ASIA, CAUCASUS & CIS

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TASHKENT STOCK EXCHANGE

During the week, the Tashkent Stock Exchange recorded turnover of 566.8bln UZS (220% w-o-w) across 24,746 transactions (100% w-o-w).

Of this amount, 80.7% was attributable to bonds, totaling 457.2bln UZS. Uzum Sarmoya (UZUMS3B) accounted for 358.5bln UZS, equal to 63.3% of total turnover, from a single deal. Agat Credit (ACMT2B5) registered 86.5bln UZS across 301 transactions, representing the highest deal count in the bond segment. Anor Bank (ANBK3B) contributed nearly 2% of total turnover.

Stocks represented approximately 19.3% of turnover, equal to 109.6bln UZS. Regal Stay Grand (RLSG), traded on the T1 board, led with 13.6% of turnover, supported by closed subscription share issuance during the week. The stock was also included in the RSE listing in the same period. Uz-SaeMyung KO. (USMK), also from the T1 board, accounted for 3.1% of total turnover. UzNIF (UZNF), which began trading on May 18, recorded 9.5bln UZS in its first week from 10,185 transactions, representing nearly half of all stock deal counts. Yo‘lreftrans (YRFS) contributed 0.5%, while O‘zbektelekom (UZTL), O‘zRTXB (URTS), and Ipoteka Bank (IPTB) each registered less than 0.1% of turnover.

Price performance of the listed securities was mostly positive. UzNIF (UZNF) posted the strongest gain at 16%. Yo‘lreftrans (YRFS) followed at 15.2%. Anor Bank (ANBK3B) rose 7.2%, O‘zbektelekom (UZTL) 5.7%, Agat Credit (ACMT2B5) 3.5%, Uzum Sarmoya 1.7%, and O‘zRTXB (URTS) 0.6%. The sole decline was Ipoteka Bank (IPTB), down 2.3% w-o-w.

AVESTA EQUITY INDEX

*The AVEX index describes the general market trend by covering the top 20 listed companies, in a particular quarter, with the highest liquidity and transaction turnovers on the Tashkent Stock Exchange. The index is a sum of the daily stock prices multiplied by the weighted average coefficients given to selected companies. The base date is 01/01/2021 (1000).

Turnover breakdown

FINANCIAL NEWS

ECONOMICS

• O‘zbekiston Respublikasi Milliy Investitsiya Jamg‘armasi (UzNIF) JSC (UZNF) disclosed that its securities were included in the listing of the London Stock Exchange (LSE), with the decision and registration both dated May 18, 2026;

• Toshkent Republican Stock Exchange JSC disclosed acquisition of 100% in “Information‑Resource Center of the Securities Market” LLC, with ownership rights effective May 18, 2026;

• Aloqabank JSC (ALKB) disclosed that its securities were included in the listing of the London Stock Exchange on March 6, 2026, with registration finalized on May 19, 2026;

• InFinBank JSC (INFB) disclosed that its list of affiliated parties was updated to include JV SAFO Airlines LLC;

• Alfa Insurance JSC approved the sale of shares to Osiyo Sarmoya LLC via the stock exchange, valued at 13.73bln UZS (31.23% of net assets);

• Delta Mikromoliya Tashkiloti JSC disclosed a 26bln UZS credit agreement with Hamkorbank JSCB (HMKB), amounting to 24.4% of its net assets;

  Universal Bank JSCB (UNVB) disclosed that its Supervisory Board recommended distribution of dividends of 500 UZS per ordinary share (10% of par value), with no dividends on preferred

• Regal Stay Grand JSC disclosed that its securities were included in the listing of the “Toshkent” Republican Stock Exchange;

• Agat Credit JSC disclosed that its securities (ACMT2B5) were included in the listing of the Republican Stock Exchange “Toshkent”;

• Trastbank JSC (TRSB) disclosed Supervisory Board recommendation to distribute dividends of 1,000 UZS per preferred share (100% of par value), with no dividends on ordinary

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ABOUT US

EUROUZ OR EUROPE-UZBEKISTAN ASSOCIATION FOR ECONOMIC COOPERATION (EUROUZ.EU) IS A EUROPEAN COOPERATION PLATFORM ESTABLISHED TO ASSIST THE EUROPEAN BUSINESS COMMUNITY IN DEVELOPING AND STRENGTHENING BUSINESS, INVESTMENT, AND TRADE COOPERATION TIES WITH UZBEKISTAN.

ALL ORGANISATIONS OF ANY LEGAL FORM REGISTERED WITHIN THE EUROPEAN ECONOMIC AREA + UK AND SWITZERLAND OR THOSE LEGALLY REGISTERED IN UZBEKISTAN ARE ELIGIBLE TO BECOME MEMBERS OF EUROUZ.

EUROUZ IS A NON-COMMERCIAL, NON-PROFIT, NON-GOVERNMENT ASSOCIATION ESTABLISHED IN BRUSSELS WITH A BRUCH OFFICE IN THE PROCESS OF REGISTRATION IN UZBEKISTAN. FOR ANY INQUIRIES, CONTACT US VIA: INFO@EUROUZ.COM

DISCLAIMER

THE DATA, ANALYSIS AND ANY OTHER INFORMATION (THE “INFORMATION”) CONTAINED IN THE EUROUZ MONTHLY REPORT ON UZBEKISTAN (THE “REPORT”) IS FOR INFORMATIONAL PURPOSES ONLY. IT IS NEITHER INTENDED AS A SUBSTITUTE FOR ADVICE FROM BUSINESS, FINANCE, INVESTMENT CONSULTANT OR OTHER PROFESSIONALS, NOR IS IT MEANT TO BE A BENCHMARK OR INPUT DATA TO A BENCHMARK OF ANY KIND. WHILST REASONABLE EFFORTS HAVE BEEN MADE TO ENSURE THE ACCURACY OF THE INFORMATION CONTAINED IN THE REPORT, EUROUZ MAKES NO WARRANTIES OR REPRESENTATIONS AS TO ITS ACCURACY, RELEVANCE OR COMPREHENSIVENESS AND ASSUMES NO LIABILITY OR RESPONSIBILITY FOR ANY INACCURACY, ERROR OR OMISSION OR FOR ANY LOSS OR DAMAGE ARISING IN CONNECTION WITH OR ATTRIBUTABLE TO ANY ACTION OR DECISION TAKEN AS A RESULT OF USING OR RELYING ON THE INFORMATION IN THE REPORT. THE VIEWS EXPRESSED IN THE REPORT ARE THOSE OF EUROUZ AND DO NOT NECESSARILY REFLECT THE VIEWS OF ITS GOVERNING BODIES. FULL REPRODUCTION, COPYING OR TRANSMISSION OF THE REPORT IS NOT PERMITTED IN ANY FORM OR BY ANY MEANS BY THIRD PARTIES WITHOUT EUROUZ’S WRITTEN PERMISSION. HOWEVER, THE INFORMATION CONTAINED THEREIN MAY BE USED AND/OR REPRODUCED FOR EDUCATIONAL AND OTHER NON-COMMERCIAL PURPOSES WITHOUT THE EUROUZ’S PRIOR WRITTEN PERMISSION, PROVIDED THAT THE REPORT IS REFERENCED. THE REPORT MAY CONTAIN REFERENCES TO MATERIAL(S) FROM THIRD PARTIES, WHOSE COPYRIGHT MUST BE ACKNOWLEDGED BY OBTAINING NECESSARY AUTHORIZATION FROM THE COPYRIGHT OWNER(S). EUROUZ OR ITS GOVERNING BODIES SHALL NOT BE LIABLE OR RESPONSIBLE FOR ANY UNAUTHORISED USE OF ANY THIRD-PARTY MATERIAL(S).

EMAIL: info@eurouz.com

COPYRIGHT © 2025 - ALL COPYRIGHTS RESERVED

Support by Sharing Uzbek.Review

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BAKNING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. Jun 17, 2026 EUROUZ Business Evening at Tashkent International Investment Forum (TIIF)

   

   
   

   EUROUZ is pleased to announce the European Evening Reception, organized within the framework of the Tashkent International Investment Forum 2026. The reception will convene high-level representatives of the Government of Uzbekistan, members of the diplomatic community, CEOs of leading European and Uzbek companies, as well as institutional investors and senior executives.As one of the flagship engagements of TIIF Week, the European Business Evening provides a distinguished platform for informal dialogue, strategic networking, and strengthening business relations between Europe and Uzbekistan.
   
   Date: June 17, 2026
   Time: 18:30 PM – 21:00 PM (UZT)
   Venue: HYATT Regency Tashkent (Ballroom)
   Register here (mandatory) : tiif.reception.eurouz.events

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2. Iteca Exhibitions Promotes Uzbekistan’s Autumn Trade Exhibitions

   

   EUROUZ member Iteca Exhibitions announced the upcoming autumn exhibition season featuring international trade events across key sectors of Uzbekistan’s economy. The exhibitions provide companies with opportunities to connect with decision-makers, distributors, buyers, and government stakeholders through targeted business platforms. Iteca organizes 22 international exhibitions covering 16 industries and annually brings together more than 4,300 companies from 57 countries and over 101,000 visitors. The events are designed to support partnership building, regional market expansion, and business visibility across Central Asia. Companies can explore participation opportunities and sector-specific events through the Iteca platform.

EUROUZ & MEMBER NEWS

1. EUROUZ Unveils Sponsors for Tashkent Investment Forum Reception

   

   EUROUZ proudly unveils the first wave of sponsors and chamber partners of the European Evening Reception at the Tashkent International Investment Forum 2026, a high-level gathering where Europe meets Uzbekistan. This is more than an event. It’s a platform shaping partnerships, unlocking investments, and driving the next chapter of economic cooperation. We thank our partners for their trust and vision. We look forward to welcoming our members and partners for an evening of meaningful dialogue and new opportunities.
   
   Event Photos

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2. EUROUZ Hosts Consultation on Veolia Energy Decarbonization Project

   

   EUROUZ, together with Veolia Energy Tashkent and Carbon Capital Management, held a hybrid stakeholder consultation meeting on the Veolia Energy Tashkent Decarbonization Project under the Verified Carbon Standard. The initiative focuses on modernizing Tashkent’s district heating system through infrastructure upgrades aimed at improving energy efficiency and reducing greenhouse gas emissions. Representatives of the business community and other stakeholders discussed the project’s environmental impact, monitoring mechanisms, and long-term infrastructure objectives. The project also seeks to reduce natural gas consumption and improve the reliability of heating services in the capital. EUROUZ continues to support initiatives promoting sustainable development, energy transition, and international cooperation in Uzbekistan.

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3. EUROUZ Discusses Expansion Plans with Member Uklon

   

   EUROUZ held a meeting with its member Uklon to discuss the company’s future development plans and expansion strategy in Uzbekistan. The discussion focused on strengthening Uklon’s market presence, identifying growth opportunities, and exploring potential areas of cooperation within the country’s evolving business environment. Representatives also exchanged views on long-term enlargement perspectives and operational support mechanisms. The dialogue reflects EUROUZ’s continued commitment to supporting international companies operating and expanding in Uzbekistan.

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4. German Economy Day in Uzbekistan organized by AHK - German Chamber of Commerce Abroad

   

   On May 18, 2026, the German Business Day in Uzbekistan took place at the Hyatt Regency Tashkent, bringing together representatives of government institutions, international organizations, business associations, and German and Uzbek companies. The event focused on investment opportunities, vocational education, workforce development, and practical aspects of German business operations in Uzbekistan. Participants discussed mechanisms to strengthen long-term economic cooperation and expand bilateral partnerships through panel discussions and networking sessions. Representatives of the GUZ Partners project team also participated in meetings with business and institutional stakeholders to support international cooperation initiatives.

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5. EUROUZ Member Dentons Advises on Uzbekistan’s First International IPO

   On May 21, 2026, Dentons acted as Uzbek legal counsel to underwriters in the US$690 million IPO of the National Investment Fund of the Republic of Uzbekistan (UzNIF). The transaction included a dual listing on the Republican Stock Exchange “Toshkent” and the London Stock Exchange through ordinary shares and Global Depositary Receipts. Jefferies International Limited led the underwriting consortium alongside international and domestic financial institutions. The offering marked Uzbekistan’s first international public equity transaction and supported the country’s capital markets integration. Dentons advised on regulatory, structuring, due diligence, and transaction documentation matters throughout the process.

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1. INTERNATIONAL COOPERATION

1.1 EUROPE

Uzbekistan and Serbia Discuss Expanding Bilateral Trade Cooperation

Presidents Shavkat Mirziyoyev and Aleksandar Vučić met during the World Urban Forum in Baku to discuss advancing Uzbekistan–Serbia relations. The leaders focused on expanding bilateral trade through cooperation programmes in machinery manufacturing, agricultural processing, chemicals, electrical engineering, pharmaceuticals, agriculture, and tourism. They also discussed strengthening humanitarian ties through a planned forum of university rectors and cultural exchanges between the two countries. The talks aimed to deepen economic and diplomatic cooperation while supporting broader regional engagement. The sides additionally reviewed preparations for upcoming high-level meetings and international events.

German Business Delegation Marks DUWIRAT Anniversary in Tashkent

From May 17 to 19, 2026, the Eastern Committee of the German Economy led a business mission to Uzbekistan, bringing together more than 90 representatives of German companies in Tashkent. The delegation participated in the 10th meeting of the German-Uzbek Economic Council (DUWIRAT), where government and business leaders reviewed investment projects and discussed their implementation. Volkswagen announced plans to expand its presence in Uzbekistan, building on its cooperation with Uzavtosanoat and advancing local vehicle production initiatives. Several projects were added to the German Investment Navigator platform, which supports the monitoring and resolution of investment-related issues. The meetings highlighted growing German interest in the Uzbek market and set the stage for further expansion of bilateral economic cooperation.

1.2 CENTRAL ASIA, CAUCASUS & CIS

Uzbekistan and Kazakhstan Approve Trade Cooperation Roadmap

Presidents Shavkat Mirziyoyev and Kassym-Jomart Tokayev oversaw the signing of a roadmap on trade and investment cooperation during talks in Astana. The document outlines joint projects in automotive manufacturing, energy, chemicals, metallurgy, pharmaceuticals, logistics, construction materials, housing construction, and agriculture. The roadmap implements agreements reached during earlier bilateral meetings in Bukhara and Turkistan this year. The initiative aims to expand trade corridors and strengthen mutual investment between the two countries. President Mirziyoyev later concluded his working visit and departed for Tashkent.

Uzbekistan and Belarus Target $2 Billion Trade by 2030

Uzbekistan and Belarus discussed measures to increase bilateral trade to $2 billion by 2030 during the 12th Intergovernmental Commission meeting in the Tashkent region. The sides agreed to expand cooperation in industry, transport, logistics, electrical engineering, pharmaceuticals, construction materials, textiles, and agricultural machinery production. Bilateral trade grew by 25% in 2025 and increased by nearly 50% in January–March 2026 to $259.7 million. Officials also prepared a cooperation roadmap for 2026–2030 and supported the development of joint high-value-added manufacturing projects. The two countries additionally confirmed plans to strengthen transport corridors and freight infrastructure.

Uzbekistan Plans Potato Supply Cluster in Afghanistan
The Uzbek delegation led by Chamber of Commerce Chairman Davron Vakhabov held talks with Bamyan Governor Qari Ghulam Haidar Shafaq on expanding agricultural cooperation. The discussions focused on establishing a potato cultivation cluster in Afghanistan under guaranteed purchase agreements for local farmers. Initial estimates project annual potato imports of at least 50,000 tons to Uzbekistan, with potential deliveries rising to 300,000 tons. The initiative aims to secure affordable potato supplies for the Uzbek domestic market while supporting cross-border agricultural cooperation. The sides also discussed fertilizer storage infrastructure, fruit cultivation, and technical training programmes for Afghan farmers.

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EUROUZ, in partnership with the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, is pleased to invite you to the 5th Tashkent International Investment Forum (TIIF-2026), taking place on 16–18 June 2026 in Tashkent.

Held with the participation of H.E. Shavkat Mirziyoyev, TIIF is Central Asia’s premier investment platform, bringing together 3,000+ participants from 90+ countries.

Theme: Investment Resilience: New Frontiers, New Partnerships
Focused on Uzbekistan’s ongoing reforms, global integration, and new investment opportunities.

Forum highlights:

• Presidential Plenary Session with global leaders and CEOs

• 20+ high-level panels (finance, energy, trade, AI, etc.)

• 6,000 m² exhibition across 10+ sectors

For EUROUZ members, TIIF offers direct access to key decision-makers and a unique platform to advance European–Uzbek partnerships.

EUROUZ is proud to be a partner of TIIF for the 5th consecutive year.

Early bird registration is now open.
Register: www.tiif.online | info@tiif.online

Table of contents of this Uzbek.Review report for paid subscribers & members:

1. INTERNATIONAL COOPERATION

1.1 EUROPE

1.2 CENTRAL ASIA, CAUCASUS & CIS

1.3 RUSSIA & CHINA

1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA

1.5 MIDDLE EAST

1.6 NORTH & SOUTH AMERICA

1.7 INTERNATIONAL ORGANIZATIONS

2. PUBLIC POLICY

3. LEGISLATION & GOVERNMENT

3.1 LEGISLATIVE CHANGES

3.2 NOTABLE APPOINTMENTS

4. ECONOMY

4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE

4.2 IFI’s, BAKNING & FINANCE

4.3 AGRICULTURE, MINING, & MANUFACTURING

4.4 CONSTRUCTION & REAL ESTATE

4.5 TRADE AND BUSINESS

4.6 ENERGY & PETROCHEMICALS

5. USEFUL LINKS AND NOTABLE PUBLICATIONS

UPCOMING EUROUZ & MEMBER EVENTS

1. EUROUZ Board of Directors 2026 – 2028 Candidate Nomination

   

   EUROUZ invites nominations for the Board of Directors for the 2026–2028 term. This is your chance to shape the future direction and activities of the Europe-Uzbekistan Association for Economic Cooperation. Candidates participating in the election are kindly requested to complete the official questionnaire, which will serve as their official candidate profile submission.
   
   Deadline: May 28, 2026
   Submit your nomination - link
   Guideline for completing the nomination form: link

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2. Jun 17, 2026 EUROUZ Business Evening at Tashkent International Investment Forum (TIIF)

   

   EUROUZ is pleased to announce the European Evening Reception, organized within the framework of the Tashkent International Investment Forum 2026. The reception will convene high-level representatives of the Government of Uzbekistan, members of the diplomatic community, CEOs of leading European and Uzbek companies, as well as institutional investors and senior executives.As one of the flagship engagements of TIIF Week, the European Business Evening provides a distinguished platform for informal dialogue, strategic networking, and strengthening business relations between Europe and Uzbekistan.
   
   Date: June 17, 2026
   Time: 18:30 PM – 21:00 PM (UZT)
   Venue: HYATT Regency Tashkent (Ballroom)
   Register here (mandatory) : tiif.reception.eurouz.events

EUROUZ & MEMBER NEWS

1. EUROUZ held its Quarterly Board of Directors Meeting

   

   On 14 May, EUROUZ held its Quarterly Board of Directors Meeting, bringing together Board Members of the Association to review ongoing activities, discuss strategic priorities, and outline key directions for future work. During the meeting, participants exchanged views on current developments, upcoming initiatives, committee activities, membership growth, and preparations for major EUROUZ events and engagements planned for the coming months. The session also served as an important setting for constructive dialogue and coordination aimed at further strengthening the role of EUROUZ in supporting cooperation between the European and Uzbek business communities.

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2. EUROUZ held a seminar on “Being Visible: Executive Reputation in Modern Business”

   

   On 13 May, EUROUZ held a seminar on “Being Visible: Executive Reputation in Modern Business” within the framework of the EUROUZ Public Relations & Strategic Communications Committee, in cooperation with TEAM University in a hybrid format in Tashkent. The session brought together EUROUZ members, business leaders, executives, and invited experts to discuss the growing role of executive reputation, personal branding, and strategic communications in today’s business environment.
   
   The programme featured practical discussions on founder visibility, reputation management, cultural intelligence, executive education, and investment attractiveness through personal brand positioning. Speakers shared insights and practical experience on how reputation increasingly influences business growth, stakeholder trust, and international market positioning.
   Event Photos \ Press Release

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3. EUROUZ welcomes a new member – Philip Morris International (PMI)

   

   Philip Morris International (PMI), headquartered in Switzerland, is a leading international company with a portfolio that includes globally recognized brands such as Marlboro, alongside a growing range of smoke-free products. The company operates across multiple markets worldwide and is actively advancing its strategy toward reduced-risk alternatives to traditional smoking. In Uzbekistan, PMI is present through the import and distribution of its products, supplying the market with both conventional tobacco products and innovative smoke-free solutions.

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4. EUROUZ welcomes a new member – Association of Young Architects of Uzbekistan

   

   The Association of Young Architects of Uzbekistan, headquartered in Tashkent, is a dynamic professional platform uniting emerging architects, designers, and urbanists. The organization focuses on promoting sustainable design, supporting professional development, and fostering active participation in urban planning and architectural dialogue. Since its establishment in 2021, the Association has organized a wide range of forums, workshops, competitions, and collaborative projects, while building strong local and international partnerships. Its activities include research initiatives, educational programs, and public events aimed at strengthening the role of young professionals in shaping Uzbekistan’s urban environment and driving innovation in the sector.

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5. EUROUZ welcomes a new member – Tashkent Tobacco

   

   Tashkent Tobacco is one of the fastest-growing manufacturing enterprises in the sector, specializing in the production of filter cigarettes. The company combines international quality standards with efficient, high-performance production processes. The company’s growth trajectory reflects its strong operational capacity: from approximately 600 million cigarettes produced annually in 2018 to over 3.5 billion units as of 2024. Today, the factory offers a diversified portfolio of around 50 product lines across seven key brands.

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6. EUROUZ Member ACWA Power Expands Uzbekistan Clean Energy Capacity

   The Asian Development Bank and ACWA Power signed a $116 million financing agreement to support renewable energy and battery storage projects in Uzbekistan. The initiative includes a 200 MW energy storage system and supports the country’s broader expansion of solar and wind power generation, which exceeded 4 billion kWh by mid-May 2026. Renewable electricity output increased by 29% year-on-year, while independent producers raised total electricity generation by 49% during the first quarter. The projects support Uzbekistan’s goal of increasing the share of green energy above 50% by 2030. Authorities will continue expanding renewable infrastructure and grid modernization under ongoing energy sector reforms.

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7. EUROUZ Members Ipoteka Bank OTP Group and Beeline Uzbekistan Launch Strategic Partnership

   

   Ipoteka Bank OTP Group and Beeline Uzbekistan signed a memorandum of strategic partnership to expand digital financial and telecommunications services in Uzbekistan. The cooperation includes the development of joint fintech products, installment programmes, loyalty services, and co-branded solutions through digital and offline channels. The partnership will also support telecom infrastructure modernization, equipment procurement, and wider network coverage under financing arrangements of up to five years. The initiative aligns with Uzbekistan’s digital transformation and Uzbekistan–2030 strategy objectives. The parties plan to implement pilot projects before expanding the cooperation nationwide.

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8. EUROUZ Member Beeline Expands High-Speed LTE Coverage in Tashkent

   On May 18, 2026, Beeline Uzbekistan completed a major network refarming project in Tashkent to improve mobile internet speed and stability across the capital. The upgrade introduced a third LTE layer using the 2100 MHz frequency band alongside the existing LTE 2600 and LTE 1800 networks, with the new layer already carrying around 15% of the city’s mobile internet traffic. The company also deployed LTE Low-Band equipment to strengthen indoor signal penetration and improve connectivity in densely built urban areas. As a result, downlink user throughput increased by more than 40%, while mobile data traffic volumes in Tashkent grew by up to 60% compared to equivalent periods in 2025. The project forms part of Beeline Uzbekistan’s broader strategy to expand digital infrastructure and enhance service quality across Uzbekistan.

Did you know that EUROUZ members and ALL their employees can access the Uzbek.Review portal free of charge as long as their organization remains a member?

Not a member yet?

Join EUROUZ to access exclusive market support for your business activities in the country.

1. INTERNATIONAL COOPERATION

1.1 EUROPE

Uzbekistan and Austria Deepen Trade and Security Cooperation

On May 7, President Shavkat Mirziyoyev received Austrian ministers Beate Meinl-Reisinger and Gerhard Karner in Tashkent. The talks focused on expanding cooperation in construction materials, tourism, healthcare, agriculture, and finance. The sides also signed agreements related to labor migration, diplomatic services, and taxation during a joint business forum. Bilateral trade turnover has tripled in recent years, reflecting stronger economic engagement between the countries. The parties agreed to maintain regular dialogue on trade, security, and regional cooperation.

Germany’s GIZ Allocates €9 Million for Uzbekistan’s Green Development

Uzbekistan’s Economy Ministry and Germany’s GIZ discussed regional development projects during talks in Tashkent. The parties agreed to allocate €9 million for green growth and infrastructure initiatives across several Uzbek districts between 2026 and 2029. The programme will support new pilot projects, including AI-based regional planning and agritourism development. The initiative aims to strengthen sustainable economic growth and regional infrastructure. Authorities also plan to expand projects to Sokh, Bakhmal, and Boysun districts.

Tashkent and Belgrade Expand Industrial and Technology Cooperation

President Shavkat Mirziyoyev met Serbian Foreign Minister Marko Đurić in Tashkent to discuss bilateral cooperation. The sides agreed to prepare a cooperation programme covering mechanical engineering, pharmaceuticals, IT, agriculture, and tourism. They also decided to hold the first Intergovernmental Commission meeting in Belgrade later this year to coordinate investment projects and trade procedures. The initiative seeks to increase bilateral trade and strengthen economic ties between Uzbekistan and Serbia. The parties will continue discussions through upcoming high-level meetings.

Uzbekistan and Czech Republic Agree on €900 Million Cooperation Package
Uzbekistan and the Czech Republic reached agreements on investment and financing projects during bilateral economic discussions. The package includes €300 million in joint projects and €600 million in financing commitments. The agreements cover cooperation in industrial development and financial support initiatives. The partnership aims to strengthen economic ties and expand investment opportunities between the two countries. Both sides are expected to continue implementing the agreed projects through bilateral cooperation mechanisms.

1.2 CENTRAL ASIA, CAUCASUS & CIS

Afghanistan and Uzbekistan Sign $112 Million Trade Agreements
Afghan and Uzbek private sector representatives signed 10 cooperation agreements during a trade forum and business meetings in Mazar-i-Sharif. The deals are valued at $112 million and cover cross-border trade and economic cooperation initiatives. Officials from Afghanistan’s Ministry of Industry and Commerce and Uzbekistan’s Karakalpakstan government attended the event. The agreements aim to expand regional trade connectivity and strengthen bilateral economic relations. The parties plan to continue cooperation through additional business and diplomatic engagements.

Uzbekistan and Kyrgyzstan Accelerate China Railway Project

On May 15, Presidents Shavkat Mirziyoyev and Sadyr Japarov held talks during the informal OTS summit in Turkestan. The leaders discussed measures to accelerate regional transport and energy projects, including the China–Kyrgyzstan–Uzbekistan railway. They also reviewed cooperation projects in industry, agriculture, and water management amid growing bilateral trade. The discussions aim to strengthen regional connectivity and strategic partnership between the two countries. The sides agreed to continue implementing previously reached high-level agreements.

Central Asia Launches Joint 2000 MW Hydropower Project

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