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
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.comSave 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.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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
