Uzbekistan Update: December 1 - 15, 2024
Biweekly update on key developments in Uzbekistan
Notable Quotes
“Peaceful nuclear energy is a leading alternative in the energy sector" Shavkat Mirziyoyev President of the Republic of Uzbekistan
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 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
PR & Strategic Communications Committee Breakfast
The upcoming EUROUZ PR & Strategic Communications Committee Breakfast will delve into the role of corporate communications in shaping Uzbekistan's media image locally and globally. Organized in collaboration with Public Foundation for Support and Development of National Mass Media and featuring insights from international media experts, the event will address differences in media perceptions, foster stakeholder dialogue, and strengthen partnerships with regional and international communication organizations.
Date: December 20, 2024
Time: 09:30 - 12:00 (Tashkent time)
Participation Guidelines:
EUROUZ Premium Members: Up to 2 attendees
EUROUZ Basic Members: 1 attendee
Non-Members: 1 attendee (subject to EUROUZ Secretariat approval)
Register via the link.
EUROUZ & MEMBER NEWS
The Results-Centered Negotiation Method course concluded successfully
From December 10-12, EUROUZ, in partnership with Central Asian University, organized "The Results-Centered Negotiation Method" course, led by Professor Sherman D. Roberts, President of Blackwell Global University and founding director of the Oxford Programme on Negotiation. The three-day intensive course combined theory with practice, allowing participants to apply new knowledge through simulation games. This impactful training enhanced decision-making and leadership skills, providing attendees with tools to achieve the best outcomes for themselves and their stakeholders. The course has been part of the pilot phase of the European Leadership Academy project that EUROUZ is currently developing, aimed at supporting our members ‘ building needs.
The European Chambers in Uzbekistan held a Joint Christmas party.
EUROUZ, CCI France-Ouzbékistan and AHK Zentralasien / GFCC Central Asia, CIUZ Camera di Commercio Italia Uzbekistan & BeNeLux Chamber of Commerce in Uzbekistan hosted the Joint European Christmas Party to celebrate the milestones of 2024 and embrace the opportunities ahead in 2025.
The event at Gravity Rooftop Bar brought together members and partners from the European and Uzbek business communities to celebrate Christmas with a festive atmosphere and traditional turkey. Beyond the festivities, it underscored the growing collaboration within Team Europe in Uzbekistan. Strengthened by shared goals, we look forward to 2025, deepening business ties and fostering new opportunities between Europe and Uzbekistan.
For event photos please visit the link.EUROUZ welcomes new member - Ipoteka Bank
Ipoteka Bank is a member of OTP Group and the fifth-largest bank in Uzbekistan, holding a 7.2% market share in terms of assets. In addition to serving large corporate clients, the bank has 1.7 million retail customers and operates through a network of 39 branches and 123 customer service centers as well as an advanced mobile app. Ipoteka-bank is the leader on retail loans in Uzbek market (14,1%).* OTP Group is one of the fastest-growing and leading banking groups in Central and Eastern Europe, with assets more than 83 bln EURO and over 41,000 employees across 11 countries in Central Asia and Eastern Europe. The group offers universal financial services to more than 16 million customers.
EUROUZ welcomes new member - Solvett Compliance Services LLC
Solvett Compliance Services LLC was established on May 8, 2023, following the reorganization of RedePoint LLC, which had been operating in Uzbekistan since 2016. Headquartered in Tashkent, Solvett specializes in delivering premium professional services to foreign businesses entering and navigating the Uzbek market. Its key areas of focus include tax consulting, accounting services, HR management, and business advisory.
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
Germany Grants Uzbekistan €9 Million for Green Urban Planning
On December 3, 2024, during the Territorial Development Forum in Tashkent, Uzbekistan's Ministry of Economy and Finance signed an agreement with the German Agency for International Cooperation (GIZ). GIZ will provide a €9 million grant to support the development and implementation of green master plans for Uzbek cities. This initiative aims to integrate sustainable and climate-resilient practices into urban planning, promoting environmentally friendly growth.
Uzbekistan Seeks 10-Year Extension of EU GSP+ Status
During a meeting of the EU's GSP+ Working Group in Brussels, Uzbekistan's Ministry of Investment, Industry, and Trade proposed extending the Generalized Scheme of Preferences Plus (GSP+) for an additional ten years. The delegation also recommended expanding the list of duty-free exports to include fresh fruits and vegetables, and revising seasonal quotas to enhance supply stability and competitiveness in the EU market. Since attaining GSP+ beneficiary status in 2021, Uzbekistan's exports to the EU have nearly tripled to $1.15 billion, covering 1,100 product categories.
UK Reaffirms Support for Uzbekistan's WTO Accession
Uzbekistan's Ambassador Ravshan Usmonov met with Philippa Saunders, Deputy Director for China, Eastern Europe, and Central Asia at the UK Department for Business and Trade. The UK expressed strong support for Uzbekistan's efforts to join the World Trade Organization (WTO), commending the country's progress. Both parties agreed to utilize all available opportunities to further develop cooperation in trade, economic, investment, and educational sectors.
Uzbekistan and Serbia Strengthen Economic and Cultural Ties
On December 7, 2024, during the Alliance of Civilizations Forum in Lisbon, Portugal, Uzbekistan's First Deputy Minister of Foreign Affairs, Bahromjon Aloyev, met with Serbia's Deputy Minister of Foreign Affairs, Nikola Stojanović. They discussed enhancing bilateral relations, economic diplomacy, and cultural cooperation. Emphasis was placed on promoting legal migration and strengthening measures to protect citizens' rights and interests
Uzbekistan and Croatia Host Inaugural Business Forum to Boost Trade Ties
The first Uzbekistan-Croatia Business Forum was held on December 11 in Tashkent, co-chaired by Uzbekistan's Minister Laziz Kudratov and Croatia's Minister Gordan Grlić Radman. Over 50 Croatian companies participated, exploring Uzbekistan’s investment potential and pro-business policies. Key discussions focused on leveraging the GSP+ framework and digital transformation. The event included B2B and B2G meetings, fostering new partnerships and trade agreements, marking a milestone in strengthening economic and cultural relations between the two nations.
1.2 CENTRAL ASIA, CAUCASUS & CIS
Turkmenistan to Increase Gas Exports to Uzbekistan
Turkmenistan has agreed to boost natural gas exports to Uzbekistan. This decision follows a phone conversation between Uzbek President Shavkat Mirziyoyev and Gurbanguly Berdimuhamedov, Chairman of Turkmenistan's Halk Maslahaty, where both leaders emphasized the efficiency and long-term nature of their gas sector collaboration. Specific volumes and timelines for the increased gas supplies were not disclosed.
Turkmenistan Opens Upgraded Farab Border Post with Uzbekistan
Turkmenistan has opened the upgraded "Farab Highway" customs and border post, adjacent to Uzbekistan's "Alat" post in the Bukhara region. The facility's area has expanded from 5.2 to 10 hectares, enabling simultaneous inspections of up to 16 freight vehicles and increasing its daily capacity to 1,000 trucks. This modernization aims to enhance transit efficiency along major international routes.
CIS Countries Agree to Create Unified Air Defense System
During a meeting of the CIS Heads of Government Council in Moscow, member states, including Uzbekistan, agreed to establish a unified air defense system. This initiative aims to enhance regional security against external air threats and strengthen collective defense capabilities. Implementation is scheduled to begin in 2025, focusing on development and funding to bolster air defense across participating nations.
1.3 RUSSIA & CHINA
Russian Firm Offers Employment to Uzbek Migrant Workers
Uzbekistan's Consulate General in Rostov-on-Don engaged with "YugStroyInvest" LLC, a leading Russian construction company, to discuss employment opportunities for Uzbek labor migrants. The company seeks 100 skilled workers and detailed its operations, working conditions, and compensation packages. Both parties agreed to collaborate on lawful and transparent recruitment, aligning with Uzbekistan's initiatives to enhance labor migration policies.
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