Uzbekistan Update: July 15 - 31, 2024
Biweekly update on key developments in Uzbekistan
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UPCOMING EUROUZ & MEMBER EVENTS
August 29, 2024 EUROUZ Back to Work Jazz Night
EUROUZ is delighted to welcome its members back from summer holidays and prepare for a productive work season. Join us for an evening of vibrant jazz music and networking as we present EUROUZ's new initiative, the Executive Leaders Club. This exclusive event is the perfect opportunity to reconnect and set the stage for the upcoming season.
September 9, 2024 Uzbekistan WTO Accession
Join us for an exclusive informal networking breakfast with the Chief Negotiator for the World Trade Organization (WTO). This is a unique opportunity to gain insights directly from the key negotiator and to discuss the implications for businesses and investments in Uzbekistan and get a concise update on the progress of Uzbekistan's accession talks to the WTO, focusing on key milestones, challenges, and next steps.
Time: 07:30 - 08:30 TashkentSeptember 12, 2024 Attracting International debt Funding for Uzbek Companies
The event focused on strategies and opportunities for Uzbek companies to secure international debt funding. Industry experts and financial analysts discussed the current market trends, potential risks, and benefits of international financing. They provided insights into the criteria and processes involved in attracting global investors. Attendees had the opportunity to engage in Q&A sessions, gaining valuable advice on enhancing their financial profiles to meet international standards. The event concluded with a networking session, fostering connections between local businesses and international financiers.
Date: September 12, 2024
Time: 09:00 - 14:00 TashkentNovember 4 - 5, 2024 The European Economic Days in Uzbekistan
EUROUZ announces the annual EU - Uzbekistan Business Meeting on November 4-5. This annual event that brings together industry leaders, policymakers, and innovators from the European Union and Uzbekistan. Organised in collaboration with the Government of Uzbekistan and EU institutions, the event offers an unparalleled platform to boost private sector engagement and drive economic collaboration between the EU and Uzbekistan. Registrations now open.
Event website: http://economicdays.eurouz.events/
Please contact info@eurouz.com for sponsorship inquiries.
Central Asia Green Energy & Hydrogen 2024
We are delighted to announce the Central Asia Green Energy & Hydrogen 2024, a pioneering gathering set to convene in the vibrant city of Tashkent, Uzbekistan, on September 9th-10th. This landmark event serves as a premier platform for stakeholders, industry leaders, policymakers, and innovators to converge and catalyze the momentum towards sustainable energy transformation in Central Asia. Focused on the burgeoning fields of solar PV, wind power projects, and hydrogen industry development, the event will feature insightful discussions, cutting-edge presentations, and invaluable networking opportunities.
EUROUZ members are eligible for 15% discountEMBRAS 2024 Employer Brand Award
EUROUZ supports the annual Employer Brand Award EMBRAS 2024, organized by our members. We call for all HR directors and managers, L&D, entrepreneurs and business owners to take part in the prestigious event that recognizes the best HR projects which transform business through corporate culture. The EMBRAS Award promoting the story of how a well recognized HR brand helps a company grow.
Event date: 18 OctoberLocation: Tashkent
EUROUZ members are eligible for 10 % discount
Submit your HR projects for the competition now by contacting the organising team Entries will close on 16 August.Human Capital Days in Uzbekistan
Human Capital Days (HCD) is the most anticipated event of the year in the field of human resource development. Offering a comprehensive overview of human capital development, HCD brings together government agencies, non-governmental organizations, businesses, and experts from Central Asia. The event will feature 50+ prominent speakers from diverse sectors, including energy, extractive industries, FMCG and retail, financial and banking, medicine and pharmaceuticals, transport and logistics, IT and communications, public administration and education, consulting, and recruitment. Join us to gain insights and network with leading professionals in the industry.
EUROUZ members are eligible for 10 % discountExhibitions events for Autumn 2024
Autmun exhibitions schedule for Uzbekistan by EUROUZ member Iteca Exhibitions. If you are looking to take part in any exhibition below, special conditions are available for EUROUZ members. Please contact us for more info@eurouz.com
EUROUZ & MEMBER NEWS
High-level Cyprus Delegation visits EUROUZ in Tashkent
EUROUZ held a meeting with the Cyprus Delegation, led by the Head of Economic, Climate, and Cultural Diplomacy of Cyprus. The delegation included the Ambassador of the Republic of Cyprus to Uzbekistan (resident in the Russian Federation), the Head of the Department of Eastern Europe, Western Balkans, Caucasus, and Central Asia, the Deputy Head of Mission at the Embassy of Cyprus to the Russian Federation, the President and Secretary General of the Cyprus Chamber of Commerce and Industry, the Deputy CEO of the Cyprus Investment Promotion Agency, and the Head of International Relations at the Deputy Ministry of Tourism. EUROUZ was represented by the Secretary General Oybek Shaykhov, the Chairman of the Healthcare Committee and Board Member Zafar Vakhidov, and the Head of the Tashkent Branch Shakhzodbek Makhmudov. The meeting focused on exploring potential cooperation opportunities.
EUROUZ Attends OSCE Academy Workshop on Eurasia's Geopolitical Landscape
Head of the EUROUZ Branch Shakhzodbek Makhmudov participated in the "Workshop on Eurasia in a Geopolitical Globalised World," organized by the OSCE Academy in Bishkek. During the three-day event, participants from CentralAsian countries, Azerbaijan, and Georgia examined the international order amidst the tensions between globalization and geopolitics. This workshop was part of the Jean Monnet Centre of Excellence on Geopolitics in Eurasia at the University of Trento and was funded by the EU.
Polish Pharmaceutical Industry delegation visits to Uzbekistan
Jointly with the Embassy of Uzbekistan in Poland, EUROUZ co-hosted a Polish Pharmaceutical Industry visit to Uzbekistan this week. Our members Polpharma and Adamed Pharma, led by Krzysztof Kopeć, discussed investment opportunities, regulatory challenges, and future cooperation plans in Uzbekistan’s pharmaceutical sector. During the open discussion with local authorities & regulators, Polish companies have discussed specific subjects that could play a significant role in increasing Poland’s pharmaceutical sector presence & investments in Uzbekistan. The delegation has also visited a new pharmaceutical cluster in the Zangiata district of Tashkent that will be launched in September. EUROUZ views this visit as a significant step in exchanging views between Uzbekistan and Poland’s pharmaceutical industry representatives
EUROUZ Member SEG Enera unveils plans for Samarkand’s logistics center
SEG Enera has announced the development of Logopark Samarkand, a 40,000 sq m multimodal transport and logistics center slated to open in mid-2025. Constructed by Marakand Logair, the center will feature all-temperature warehousing and auxiliary services. The project aims to shorten supply chains, reduce lead times, and enhance cargo transport flexibility. Located on the M-37 highway near Samarkand International Airport, the center will form a comprehensive transport and logistics cluster. SEG Enera is also involved in other key investment projects in the region, including the airport and Silk Road Samarkand tourist complex.EUROUZ member Suez Group explores expanding activities in Uzbekistan
Uzbekistan's Deputy Prime Minister and Minister of Economy and Finance met with a delegation from the Suez Group, led by Eric Ghebali. The discussions focused on potential collaboration in water and wastewater management, aiming to enhance infrastructure and implement innovative technologies. Both sides expressed readiness to form strategic partnerships to promote Uzbekistan's environmental sustainability and development goals.EUROUZ welcomes new member - MARILLION
MARILLION is an international accounting and advisory company. Over 30 years MARILLION provides professional services in accounting outsourcing, payroll and tax advisory, including transfer pricing. Extensive international experience in Eastern Europe, Central Asia and other countries helps the company to provide comprehensive services that best meet the needs of each client. Being a reliable partner for companies of various sectors and sizes – from multinational corporations to small and medium businesses, MARILLION delivers transparency and a high level of quality to its clients.
EUROUZ welcomes new member - PraeLegal
PraeLegal Uzbekistan being one of the leading lawfirms in Uzbekistan, acknowledged by prestigious international legal rankings, known to be the trusted advisor and partner to its clients in representing their interest in all aspects of what Uzbek legalindustry offers. As one of the largest law firms in Uzbekistan, basing on its vast resources in form of experienced lawyers from various practices, as well as its strong international ties, PraeLegal Uzbekistan acts as flagship, pioneering new areas of law for Uzbekistan, be it International Arbitration or Crypto & Cyber.
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Table of contents of this Uzbek.Review report for paid subscribers & members:
1. INTERNATIONAL COOPERATION
1.1 EUROPE
1.2 CENTRAL ASIA & CAUCASUS
1.3 RUSSIA & CHINA
1.4 MIDDLE EAST, EAST ASIA & SOUTH-EAST ASIA
1.5 NORTH & SOUTH AMERICA
1.6 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 BAKNING & FINANCE
4.3 AGRICULTURE, MINING, & MANUFACTURING
4.4 CONSTRUCTION & REAL ESTATE
4.5 ENERGY & PETROCHEMICALS
5. USEFUL LINKS AND NOTABLE PUBLICATIONS
1. INTERNATIONAL COOPERATION
1.1 EUROPE
Uzbekistan and Germany Discuss Migration and Mobility Agreement
On July 16, a meeting between the First Deputy Chairman of the Senate of Uzbekistan and the Parliamentary State Secretary at the German Federal Ministry of Labour and Social Affairs highlighted the importance of the Intergovernmental Agreement on Migration and Mobility. The discussions emphasized enhancing political, trade-economic, and social cooperation, focusing on stable cargo supply chains and labor and employment collaboration. The German side commended Uzbekistan's reforms, and both parties agreed to further develop their bilateral relations.
Latvia and Germany Seek Uzbek Specialists for Various Roles
Latvia is inviting Uzbek specialists for auto mechanic and CE truck driving roles, offering salaries up to €2,500. Requirements include relevant experience and knowledge of Russian or English. Germany is recruiting Uzbek nurses and medical trainees with a nursing diploma and German language proficiency, offering salaries from €2,300 to €2,700. Both countries provide accommodation, insurance, and support with documentation, while candidates bear costs for services, training, and travel.
1.2 CENTRAL ASIA & CAUCASUS
Kazakhstan to Enhance Gas Transit to Uzbekistan and China
Kazakhstan is set to triple Russian gas transit to Uzbekistan, aiming for 3.8 billion cubic meters this year and up to 11 billion annually. Additionally, the transit of Turkmen and Uzbek gas to China will increase to 37.1 billion cubic meters. Discussions are also ongoing to enhance Russian gas transit to Kyrgyzstan.
Kazakhstan to End Long-Term Settlement Agreement with Uzbekistan
Kazakhstan will terminate a 1994 mutual settlement agreement with Uzbekistan, citing the introduction of Uzbekistan's national currency, the soum. The agreement, which predates the soum, is now considered outdated and will be formally ended following legal procedures. The Kazakh Ministry of Foreign Affairs will notify Uzbekistan's government of the termination.
Uzbekistan and Kyrgyzstan Elevate Bilateral Relations
Uzbekistan and Kyrgyzstan have agreed to elevate their bilateral relations to a strategic alliance level, as announced by Uzbekistan's president. The countries signed a joint statement to deepen and expand their strategic partnership, including forming an interstate council led by their leaders. The agreement focuses on cooperation within international organizations and increasing mutual trade.
Uzbekistan and Kyrgyzstan Sign Multiple Bilateral Protocols
Uzbekistan and Kyrgyzstan have signed 16 bilateral protocols, including an agreement finalizing Uzbekistan's WTO membership negotiations. Key agreements cover strategic partnership, resort-recreation facilities, easier travel, construction, labor, and migration. Other protocols address cultural cooperation, public service collaboration, and mutual trade and sports development. These protocols aim to enhance economic growth and bilateral relations across various sectors.
Boosting Trade Digitalization in Central Asia
Central Asian states are enhancing regional connectivity through trade digitalization, addressing logistical challenges and diverse trading regimes. Uzbekistan leads with an 89% trade facilitation implementation rate, significantly improving customs and cross-border trade. The region's commitment to WTO accession and digital trade policies aims to reduce trade barriers, increase efficiency, and foster economic integration, benefiting regional cooperation and sustainable development.
Uzbekistan and Turkmenistan Enhance Trade and Economic Relations
Uzbekistan and Turkmenistan held their 18th Joint Commission meeting in Tashkent, focusing on trade, economic, scientific-technical, and cultural cooperation. The discussions included expanding industrial collaboration, developing transport connectivity, and simplifying visa procedures. They also signed agreements to increase trade volumes, establish border trade zones, and enhance cultural and humanitarian cooperation, including joint educational programs and tourism initiatives.
1.3 RUSSIA & CHINA
Uzbekistan and Russia Aim to Boost Trade to $30 Billion
At the first Caucasus Investment Forum in Grozny, Uzbekistan’s Minister of Investments highlighted efforts to increase bilateral trade with Russia to $30 billion. The trade volume has already grown 2.5 times over seven years, reaching nearly $10 billion by 2023. Key areas for collaboration include joint industrial zones, financing mechanisms, tourism, agriculture, and cultural-humanitarian cooperation.
Uzbekistan Increases Gas Exports to China
In June, Uzbekistan's pipeline gas exports to China surged nearly 24-fold from $7.6 million in May to $181.5 million. For the first half of 2024, exports totaled $241.4 million. This significant increase contrasts with slight discrepancies in Chinese customs data, reporting $234.9 million in exports. Meanwhile, Uzbekistan's imports of Turkmen and Russian gas quadrupled, exceeding $800 million, reflecting its shift from a gas exporter to an importer by the end of last year.
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