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