Uzbekistan Update: January 15 - 31, 2025
Biweekly update on key developments in Uzbekistan

Notable Quotes
“We will reduce the poverty rate to 6% in the coming years" 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
Febraury 25, 2025 Poland-Uzbekistan Business Forum
The Poland-Uzbekistan Business Forum will take place on February 25, 2025, in Tashkent, Uzbekistan, organized by the Polish Investment and Trade Agency (PAIH) and the Investment Promotion Agency of Uzbekistan. The event aims to foster new business connections, facilitate experience exchange, and expand trade and investment cooperation between Poland and Uzbekistan. It will feature discussion panels, expert presentations, networking sessions, and B2B meetings between Polish and Uzbek businesses from various sectors, including energy, agriculture, tourism, transport, and healthcare.
Registration LinkMarch 4, 2025 Finnish-Uzbek Economic Commission Meeting in Helsinki
We would like to share information about the upcoming Finnish-Uzbek Economic Commission Meeting, which will take place in Helsinki on March 4, 2025. This high-level event aims to strengthen bilateral economic cooperation and foster new business opportunities between Uzbekistan and Finland.
Key industries of focus include:
Mining industry & critical raw materials
Water expertise & climate solutions
Construction industry
Education
March 10 - 14 2025, SAXONY visit – Business Visit to Saxony, Germany for the Intec / Z 2025 Exhibition
This business visit is organized by Saxony Trade & Invest, in collaboration with the German Industry and Commerce (GIC) in Uzbekistan. The event provides an exclusive opportunity for participants to explore cutting-edge German engineering, machine-building technologies, and industrial automation.
EUROUZ & MEMBER NEWS
EUROUZ held Human Resources & Capacity Building Committee Meeting
The first EUROUZ Committee Meeting of 2025 - Human Resources & Capacity Building members' strategic session - was successfully held today. Representatives from 18 companies attended and benefited from insightful presentations by Alexandra Morozova from PwC Uzbekistan, who discussed updates on labor legislation changes and salary trends, and Yuliya Yakovleva from the Uzbekistan Employers Association, who shared labor market trends for 2024-2025.
EUROUZ held Healthcare & Life Sciences Committee Meeting
The first EUROUZ Healthcare & Life Sciences Committee Members Meeting of 2025 united member companies from Europe and Uzbekistan. Representatives from 10 member companies engaged in discussions on key challenges in life sciences, advancements in the pharmaceutical sector, and opportunities to enhance partnerships for improved healthcare outcomes. The agenda included a regulatory update on pharmaceutical tax legislation by Zafar Vakhidov and Evgeniy Venediktov, a review of the committee’s 2025 plan, and a white paper discussion, followed by an open dialogue to define action items.
EUROUZ held PR & Communications Committee Meeting
The EUROUZ PR & Communications Committee, chaired by Beeline Uzbekistan, held its first meeting of 2025, bringing together around 40 participants from Europe and Uzbekistan to discuss key industry trends. Discussions focused on investor relations in PR, sustainability-driven strategies, and leveraging global trends for business growth. The agenda featured expert insights from Victoria Afonina (Monfort Euroasia), Nazee Aripdjanova (Coca-Cola Uzbekistan), and Janona Akhmedova (ACWA Power). The meeting concluded with an open dialogue to define actionable steps for the committee’s initiatives in 2025.
EUROUZ Executive & Diplomatic Club Hosts Exclusive CEOs’ Dinner
EUROUZ Executive & Diplomatic Club hosted an exclusive CEOs’ networking dinner under Chatham House rules, bringing together 30 CEOs from EUROUZ new member companies alongside senior representatives from Economic Chambers, International Financial Institutions, and the Diplomatic Sector. The evening fostered engaging discussions on key economic and business developments, facilitating meaningful exchanges between industry leaders and institutional representatives. A special highlight was the presentation and wine tasting sponsored by MSa Family Winery, which added to the event’s distinguished atmosphere.
EUROUZ Member Rothschild & Co. Joins Uzbekistan’s Privatization Efforts
Rothschild & Co., led by Baroness Ariel Malard de Rothschild, met with Uzbekistan's State Assets Agency to discuss the privatization of a key state-owned enterprise. While the specific company was not disclosed, both parties agreed to collaborate closely and share expertise throughout the process. Additionally, Rothschild representatives met with Minister of Economy and Finance Jamshid Kuchkarov and other officials to explore applying Rothschild's privatization practices to Uzpromstroybank.
EUROUZ Member AKFA Group Unveils New Smart Building Solutions
AKFA Group introduced a new range of products aimed at improving convenience and safety in residential and commercial spaces. The presentation featured accessibility accessories for individuals with limited mobility, advanced door mechanisms, innovative heating solutions, and aluminum structures for mobile tents. These developments highlight AKFA Group’s commitment to quality and innovation in the construction and building materials sector.
EUROUZ welcomes new member - The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a global beverage company offering over 200 sparkling and still brands along with a wide range of beverages. Its portfolio includes 20 brands with annual revenues exceeding $1 billion, such as Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitamin water, POWERADE, Minute Maid, Simply, Georgia, Dasani, FUZE TEA, and Del Valle. The company operates in more than 200 countries, providing beverages at a rate of 1.9 billion servings per day.
EUROUZ welcomes new member - Robert Bosch
Robert Bosch, founded in 1886 and headquartered in Gerlingen, Germany, is a global leader in engineering and technology. With operations in over 60 countries, the company is renowned for its expertise across four key sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy & Building Technology.
EUROUZ welcomes new member - BAYER
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Guided by its mission, “Health for all, Hunger for none,” Bayer’s products and services are designed to help people and the planet thrive, addressing the challenges of a growing and aging global population.
EUROUZ welcomes new member - SPACE WIND LLC
Established in November 2022, SPACE WIND LLC specializes in the supply of professional measuring equipment for monitoring electrical safety parameters of electrical installations, analyzing power quality parameters, and conducting acceptance tests of energy infrastructure and industrial facilities. The company's expertise covers electrical safety, energy audits, renewable energy sources, and the metrology of measuring instruments. Headquartered in Tashkent and provides live demonstrations of the equipment offered to visitors.
EUROUZ welcomes new member - Commerzbank
Commerzbank is the leading bank for the German Mittelstand, thus a strong partner for around 25,500 corporate client groups and almost 11 million private and small-business customers in Germany. The Representative Office Tashkent was opened in 1998. As a non-commercial entity, the Representative Office fosters existing and future business relationships of Commerzbank AG with Financial Institutions on the ground and is the first contact for Uzbek public sector and other stakeholders.
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
Latvia Considers Easing Visa Regime for Uzbek Citizens
On January 20, 2025, Uzbekistan's Deputy Foreign Minister Olim Abdullaev met with Latvian Ambassador Reinis Trokša to discuss bilateral cooperation. Key topics included organizing employment for Uzbek citizens in Latvia, simplifying the visa regime, developing a legal framework for labor migration, and establishing joint educational institutions. Both parties emphasized strengthening collaboration to protect labor migrants' rights.
Germany Offers Employment Opportunities for Uzbek Drivers
Uzbekistan's "Vatanparvar" organization signed a memorandum with Germany's SBH West GmbH to train 700 Uzbek citizens as bus and truck drivers, as well as train operators. Participants will receive German language instruction and professional retraining. Graduates are expected to secure employment in Germany with monthly salaries ranging from €2,400 to €2,600.
Saida Mirziyoyeva Meets EU Ambassador Ahead of Key Summit
Saida Mirziyoyeva, Assistant to the President, met with Toivo Klaar, Head of the European Union Delegation to Uzbekistan. They discussed preparations for the upcoming "European Union - Central Asia" summit scheduled in Samarkand in April. Klaar expressed support for initiatives aimed at expanding legal protection and economic opportunities for women in Uzbekistan.
MEDEF Explores Investment Projects in Uzbekistan
A delegation of French entrepreneurs from MEDEF International met with Uzbekistan’s Deputy Prime Minister on 30 January 2025 in Tashkent. The discussions, attended by representatives of prominent French companies and Uzbek government officials, highlighted cooperation in areas such as Public-Private Partnerships, Sustainable Economic Growth, Energy Sector, Transport Infrastructure, Agriculture, and Private Sector Support. Both sides emphasized the importance of international collaboration, innovation, and alignment with global trends to enhance bilateral cooperation and drive future initiatives.
Uzbekistan to Establish Training Centers Aligned with German Job Market
Deputy Foreign Minister Olim Abdullaev met with representatives from Germany's SBH West GmbH to discuss establishing vocational training centers in Uzbekistan. These centers will offer programs tailored to the German labor market, equipping graduates with skills necessary for employment in Germany. The initiative aims to create new job opportunities for Uzbek citizens abroad.
Uzbekistan's Exports to France Nearly Double in 2024
In 2024, Uzbekistan's exports to France reached $795 million, almost doubling from the previous year. Conversely, France's exports to Uzbekistan decreased by 43.5% to $336.1 million. The bilateral trade turnover increased by 13.7%, totaling $1.13 billion. Over the past seven years, trade between the two nations has grown nearly fivefold. Currently, 50 French-capital companies operate in Uzbekistan.
1.2 CENTRAL ASIA, CAUCASUS & CIS
Kyrgyzstan and Uzbekistan Initiate Convict Exchange Agreement
The Legislative Chamber of Uzbekistan's Oliy Majlis approved a treaty with Kyrgyzstan concerning the transfer of convicts. The agreement outlines procedures for transferring prisoners, conditions of punishment execution, financial arrangements, communication languages, and amendment mechanisms. Both countries' Prosecutor General's Offices will implement the treaty, aiming to facilitate convicts' social rehabilitation by allowing them to serve sentences closer to their families.
Mirziyoyev Holds Informal Meeting with Japarov at Amirsoy Resort
On January 25, 2025, Uzbekistan's President Shavkat Mirziyoyev met informally with Kyrgyz President Sadyr Japarov at the Amirsoy resort in Tashkent region. They discussed bilateral relations, international politics, and regional cooperation. President Japarov praised the resort's modern infrastructure. Both leaders agreed to advance joint projects to establish resort and recreational centers in their countries, leveraging their unique geographies.
Uzbekistan and Turkmenistan Sign Cooperation Program for 2025–2026
Uzbekistan's Foreign Minister Bakhtiyor Saidov and Turkmenistan's Deputy Chairman of the Cabinet of Ministers and Foreign Minister Rashid Meredov signed a Cooperation Program for 2025–2026 and a Protocol on the Inventory and Improvement of the Legal and Contractual Framework. They also exchanged notes confirming mutual support for each other's candidacies in international organizations.
Uzbekistan, Azerbaijan, and Türkiye Sign Declaration on Enhancing Transport Links
On January 29, 2025, in Ankara, the Foreign, Economy, Trade, and Transport Ministers of Uzbekistan, Azerbaijan, and Türkiye held their second trilateral meeting. They signed the Ankara Declaration, affirming their commitment to support each other's sovereignty and territorial integrity, simplify trade, and enhance the Middle Corridor's transport capacity. The declaration emphasizes joint efforts to improve transport infrastructure, digitalization, and customs procedures to boost regional connectivity.
Eurasian Intergovernmental Council Meeting Held in Almaty
Uzbekistan's government delegation participated as an observer in the Eurasian Intergovernmental Council meeting in Almaty. Chaired by Belarus, the meeting included discussions on financial support mechanisms for joint agro-industrial projects and macroeconomic stability among member states. Uzbekistan emphasized its active role in expanding practical cooperation with the Eurasian Economic Union and highlighted the implementation of a three-year collaboration plan with the Eurasian Economic Commission.
Prime Ministers of Uzbekistan, Kyrgyzstan, and Tajikistan Meet in Fergana
On January 8, 2025, in the Fergana region, the Prime Ministers of Uzbekistan, Kyrgyzstan, and Tajikistan convened at the tri-border area. They discussed previously agreed-upon border issues and emphasized the symbolic significance of meeting at the confluence of their nations. The leaders highlighted the strengthening of friendship and multifaceted relations in the region, attributing progress to the strong political will and constructive policies of their respective presidents.
1.3 RUSSIA & CHINA
Chinese Investments in Uzbekistan Exceed $10 Billion
In 2024, Chinese investors contributed over $10 billion to Uzbekistan's economy, as reported by the Ministry of Investments, Industry, and Trade. This announcement was made during the Uzbekistan-China Business Forum in Tashkent, which attracted more than 400 entrepreneurs from both nations. As of January 2025, over 3,300 enterprises with Chinese capital operate in Uzbekistan, focusing on sectors such as energy and light industry. The total trade turnover between the two countries reached $13.1 billion.
Uzbekistan's Gas Imports Surge by 2.4 Times; Exports to China Grow by 25%
In 2024, Uzbekistan became a net importer of natural gas for the second consecutive year. Natural gas imports from Turkmenistan and Russia increased by 2.41 times, totaling $1.67 billion. Gas exports to China rose by 25.3%, reaching $726.2 million, according to China's General Administration of Customs. However, monthly exports to China declined from $79.4 million in November to $58.8 million in December.
President Mirziyoyev Receives Russian Defense Minister Andrey Belousov
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