Uzbekistan Update: February 15 - 28, 2025
Biweekly update on key developments in Uzbekistan
Notable Quotes
“Uzbekistan needs a more strategic approach to agricultural subsidies, to ensure that these are effective in driving reforms and efficient in their implementation. The aim should be to have these subsidies directly contribute to the development of a market-driven, internationally competitive, diverse, environmentally friendly, climate resilient and socially inclusive agri-food sector" Ambassador of the European Union to Uzbekistan, Toivo Klaar.
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
March 12, 2025 EUROUZ PR and Strategic Communications Committee Meeting
Join the EUROUZ PR and Strategic Communications Committee for an exclusive hybrid discussion on the most effective and successful PR campaigns shaping Uzbekistan's communication landscape in 2025. This session will explore key trends, including the importance of investor relations, the growing role of sustainability in corporate communications, and innovative campaign approaches that have driven success in the region.
Date: Thursday, March 12, 2025
Mode: Hybrid (in-person & online)
Time: 15:00 - 17:00 (GMT+5)
Register here: linkMarch 13, 2025 EUROUZ Corporate Governance Committee Initiation Meeting
Governance Committee Initiation Meeting on March 13, 2025. This meeting will set the foundation for fostering corporate transparency, accountability, and responsible business practices within the EUROUZ network.
Date: Thursday, March 13, 2025
Mode: Hybrid (in-person & online)
Time: 15:00 - 17:00 (GMT+5)Register here: link
AgroWorld Uzbekistan is the premier event in Uzbekistan's agricultural sector. It brings together the leading enterprises, organizations specializing in modern agricultural machinery, equipment and technologies, farmers, specialists, decision-makers. The exhibition features innovations in crop production, livestock, poultry farming, veterinary medicine, processing, transportation, and storage of agricultural products. With a well-structured exposition segmented by product categories, visitors can explore hundreds of new products, exclusive offers, and live demonstrations from top manufacturers and suppliers. Expand your presence in the Central Asian market, network with industry leaders, and attract potential buyers.
Register hereMarch 19, 2025 ‘Preparing for the Introduction of Escrow Accounts in Uzbekistan’
Uzbekistan is set to implement escrow accounts in shared construction, with full transition required by January 1, 2026. This event will bring together industry experts to discuss the impact on real estate development, banking readiness, and regulatory requirements. Key topics include integrating escrow accounts into business models, their effect on property prices, and potential changes in mortgage rates. Join us to gain insights into the new financing landscape and ensure a smooth adaptation to upcoming regulations.
Reegister hereMarch 27, 2025 EUROUZ ESG Strategy Committee Meeting
EUROUZ ESG Strategy Committee is hosting an exclusive discussion on the latest sustainability trends, regulatory developments, and corporate ESG strategies shaping 2025. This session will bring together industry leaders to explore best practices, challenges, and innovative approaches to integrating environmental, social, and governance principles into business operations in Uzbekistan.
Date: Thursday, March 27, 2025
Time: 15:30 - 17:30 (GMT+5)Register here: link
Business Media Central Asia (BMCA) event calendar
EUROUZ & MEMBER NEWS
EUROUZ held Annual Uzbekistan Economic Update 2024 / 2025
EUROUZ successfully hosted the Annual Uzbekistan Economic Update 2025, gathering key stakeholders to discuss the country’s economic outlook, reforms, investment climate, and trade. Held in a hybrid format at the Hyatt Regency Tashkent, the event attracted 50 in-person and 250 online participants. Keynotes were delivered by Minister Laziz Kudratov and EU Ambassador Toivo Klaar, followed by a panel moderated by EUROUZ Secretary-General Oybek Shaykhov, featuring experts from EBRD, EIB, OECD, and Uzbekistan’s Ministry of Economy and Finance. EUROUZ thanks its supporting partners: the Institute for Macroeconomic and Regional Studies, Advantage Austria, EastCham Finland, and AHK Zentralasien.
Pictures / Press Release / Event RecordingUzbek-Polish Business Forum Explores Cooperation Opportunities
On February 25, Tashkent hosted the 8th Uzbek-Polish Intergovernmental Commission and Business Forum, organized by the Polish Investment and Trade Agency and Uzbekistan's Investment Promotion Agency. The event brought together government representatives and business leaders to explore new collaboration opportunities. Speakers included EUROUZ member Vasilisa Degtyarenko, Chairperson of Clever Logistics, and Surayyo Turakulova, Deputy Director of EUROUZ Branch. The forum served as a key platform for fostering economic ties between Uzbekistan and Poland.
EUROUZ has launched a Compliance Committee
On February 26, EUROUZ established a Compliance Committee to enhance compliance practices, facilitate experience-sharing, and improve engagement with public institutions at all levels. Initiated by Beeline Uzbekistan, the inaugural meeting gathered 30 professionals from various industries. Alina Akchurina, Chief Compliance Officer at Beeline Uzbekistan and the committee’s first chair, outlined its mission and priorities. The discussion emphasized the growing role of compliance in Uzbekistan’s business landscape and the need for stronger public-private collaboration. The meeting was coordinated by Shakhzodbek Makhmudov, Head of EUROUZ’s Tashkent Branch.
Find our more about EUROUZ Commitees here or how to join EUROUZ community & become part of our Committees hereEUROUZ and AmCham Uzbekistan to develop cooperation
EUROUZ is pleased to develop new collaboration with AmCham Uzbekistan, uniting two leading regional chambers to create greater impact for the whole business community in Uzbekistan. In the spirit of partnership, we explored ways to enhance joint committee meetings, particularly in ESG and HR, to foster deeper knowledge exchange and drive best practices. This cooperation reflects both chambers commitment to building high-value networking platforms and supporting businesses in navigating key economic and regulatory developments.
EUROUZ engages IICA to explore ways to support Uzbekistan’s efforts for a closer regional cooperation in Central Asia
EUROUZ held its first meeting with the International Institute for Central Asia (IICA) leadership to exchange views on regional developments and explore potential areas for cooperation. Given the increasing role of institutions like IICA in strengtheing regional partnerships, we recognize its importance in shaping discussions on economic and strategic cooperation in Central Asia. As a bridge between European businesses and Uzbekistan, EUROUZ continues to engage with key stakeholders to create meaningful opportunities for our members.
EUROUZ welcomes new member - SOGD Advisory
Established in 2022 in Uzbekistan, SOGD Advisory is a boutique consultancy firm with a team of experienced CFOs, CMOs with expertise in Big4 advisory. The company provides financial, strategic and commercial management solutions, ensuring global standards of excellence. Since its inception, SOGD Advisory has assisted international investors in establishing joint ventures, identifying investment opportunities, and enhancing financial reporting for foreign investments. As a consultant for EBRD projects, the firm actively supports SMEs in Uzbekistan.
EUROUZ welcomes new member - Empatia
Empatia specializes in promoting corporate wellbeing culture across Kazakhstan and the CIS region. Their mission is to enhance the overall wellbeing of employees and organizations through tailored programs and initiatives. Their client base primarily includes companies from Kazakhstan, Kyrgyzstan, and Tajikistan. They are also keen to expand presence and enter the Uzbekistan and European market, and they hope to establish fruitful collaborations in the near future.
EUROUZ welcomes new member - Azerbaijan Uzbek Investment Company
Azerbaijan Uzbek Investment Company (AUIC) with the initial committed state-funded capital of USD 500 million, was founded in accordance with the mutual decision of the Presidents of both countries. The main goal of AUIC is to invest in private businesses that contribute to the development of the economy of Uzbekistan or Azerbaijan.
EUROUZ welcomes new member - Business Media Central Asia (BMCA)
Business Media Central Asia: A Catalyst for Industry Growth Through Global Exhibition Initiatives. Business Media Central Asia (BMCA) is an important segment of an international holding company engaged in the comprehensive organization of exhibition projects across Central Asia. In collaboration with the world's largest exhibition organizers, such as Messe Frankfurt, BMCA is at the forefront of facilitating effective communication and creating a platform for new business opportunities in the region.
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
EU and Uzbekistan expand interregional cooperation
On February 20, 2025, in Brussels, Uzbekistan's delegation led by Special Representative Abdulaziz Kamilov met with Vivian Loonela, Cabinet Head of the EU High Representative for Foreign Affairs. They discussed enhancing multifaceted ties between Central Asia and the EU, highlighting the upcoming "Central Asia – European Union" summit in Samarkand on April 3-4.
Germany to Recruit 160 Uzbek Truck Drivers
SEIT-for-tomorrow GmbH & Co. KG, in collaboration with Uzbekistan's Migration Agency, announced plans to recruit 160 Uzbek truck drivers. Applicants aged 20-42 with a Category CE license and B1-level German proficiency will undergo 4-6 months of retraining in Germany, leading to a three-year employment contract.
Croatia Engages Uzbekistan in Labor Migration Talks
In February 2025, facilitated by Uzbekistan's Embassy in Hungary, an Uzbek delegation met with Croatian officials to enhance labor migration cooperation. Discussions included attracting skilled Uzbek professionals, organizing training programs, and streamlining work visa procedures.
Estonian Ports to Boost Uzbekistan’s Export Routes
On February 26, 2025, Minister Laziz Kudratov discussed with Estonian Ambassador Jaap Ora the use of Estonia's ports—Tallinn, Muuga, Pärnu, and Sillamäe—to diversify Uzbekistan's export routes to Northern and Western Europe.
Serbia and Uzbekistan to Draft Migration Agreement
Deputy Foreign Minister Olimjon Abdullaev led an Uzbek delegation to Serbia, meeting with officials including Minister of Labor Nemanja Starović. They agreed to draft an intergovernmental agreement on migration and mobility, aiming to simplify visa procedures and protect Uzbek workers in Serbia.
Spain and Uzbekistan Strengthen Bilateral Relations
On February 22, 2025, Munira Aminova, advisor to Uzbekistan's Foreign Minister, met with Spain's new ambassador, Ricardo Martínez Vásquez. They emphasized deepening bilateral relations, focusing on tourism and transport sector cooperation to enhance trade flows.
UK to Support for Uzbekistan's WTO Accession
During a visit to the UK, Azizbek Urunov, Uzbekistan's Special Representative on WTO Affairs, met with Deputy Minister Gareth Thomas. The UK affirmed its full support for Uzbekistan's WTO accession and agreed to enhance technical assistance and capacity-building initiatives.
1.2 CENTRAL ASIA, CAUCASUS & CIS
Uzbekistan and Azerbaijan Discuss Mutual Recognition of ID Cards
On February 20, 2025, officials from Uzbekistan and Azerbaijan held an online meeting to explore allowing citizens to cross borders using ID cards instead of passports. This initiative aims to simplify travel and strengthen bilateral ties.
Tashkent to Host CIS Economic Council Meeting in April
The CIS Economic Council is scheduled to convene in Tashkent on April 28, 2025. The agenda includes approving comprehensive measures to attract mutual investments among member states, a proposal initiated by Uzbekistan.
Uzbekistan, Tajikistan, and Kyrgyzstan to Hold Trilateral Summit
Presidents of Uzbekistan, Tajikistan, and Kyrgyzstan will meet for their first trilateral summit to take place in Khujand on March 31. The summit aims to strengthen regional cooperation and address border issues between Bishkek and Dushanbe.
1.3 RUSSIA & CHINA
Uzbekistan and China Strengthen Strategic Partnership
Keep reading with a 7-day free trial
Subscribe to Uzbek.Review is a publication by EUROUZ.eu to keep reading this post and get 7 days of free access to the full post archives.