Uzbekistan Update: June 1 - 15, 2024
Uzbekistan Update: June 1 - 15, 2024
Biweekly update on key developments in Uzbekistan
Notable Quotes
“We will never retreat from the path of reforms” Saida Mirziyoyeva, assistant to the President of Uzbekistan
UPCOMING EUROUZ & MEMBER EVENTS
June 20, 2024 - Internal coordination meeting of the EUROUZ Healthcare and Life Sciences Committee.
EUROUZ is inviting members to a scheduled meeting of the Healthcare and Life Sciences Committee. This milestone meeting is aimed at assessing the results of the committee's past work, realigning members' interests and priorities, developing a plan, and setting goals for the committee until the end of 2024, ensuring that all members' interests and objectives are considered in the specific committee work plan for the coming months.
The meeting is for EUROUZ members only. Please register through the following link.
EUROUZ & MEMBER NEWS
June 4, 2024 – EUROUZ and the EU Delegation to Uzbekistan hosted the Early Summer Soirée at the EU Ambassador’s Residence.
The networking opportunity was organised to welcome new EUROUZ members into the community & gather members of EUROUZ, EU diplomatic missions, and government officials to meet each other in person & exchange views on subjects relevant to the EUROUZ members. In a welcoming address, H.E. EU Ambassador Charlotte Adriaen highlighted the rapidly growing economic ties between the EU and Uzbekistan, while EUROUZ Secretary-General Mr Oybek Shaykhov emphasised the importance of the role EUROUZ has taken as a crucial dialogue platform between Europe & Uzbekistan business communities, especially when fostering new business-to-business relationships. Event pictures
June 3-7, 2024 - EUROUZ joins EBO Network Meetings in Brussels
The EBO Worldwide Network annual meetings took place in Brussels, gathering officially recognized EU chambers and business associations. The agenda included discussions with DG Grow on EU Critical Raw Materials policy, the European Investment Bank (EIB) regarding their role outside the EU, and a meeting with Tomas Baert, trade adviser to the European Commission President Ursula von der Leyen.
June 6, 2024 - EUROUZ Committee initiation meeting for the Intellectual Property committee
EUROUZ members and representatives of invited companies gathered to discuss the members’ proposal for initiating the Intellectual Property Committee, which will aim to comprehensively address the issues, challenges, and opportunities relevant to EUROUZ members regarding the Intellectual Property subject in Uzbekistan.
June 13, 2024 - EUROUZ Joins Working Groups on Capital Market and Alternative Investments
The inaugural meeting of the Working Groups on the development of the capital market and the creation of the International Financial and Technology Center, as well as on the development of the "Law on Alternative Investments," was targeting Review of the best foreign practices in organizing infrastructure for alternative investments.
The EUROUZ members have voted to make our market reports paid for all non-members as of June 2023. We are testing the new method, which is already starting this month.
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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 LEGISLATION 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 TRADE AND BUSINESS
4.6 ENERGY & PETROCHEMICALS
5. USEFUL LINKS AND NOTABLE PUBLICATIONS
1. INTERNATIONAL COOPERATION
1.1 EUROPE
Uzbekistan-Germany Business Council Enhances Strategic Bilateral Relations
The 8th meeting of the Uzbek-German Business Council took place in Tashkent, co-chaired by the Prime Minister Abdulla Aripov. The discussion that gathered representatives of around 50 German companies emphasized the advancement of bilateral cooperation in sectors like green energy, digitalization, labor resources, food safety, health, metallurgy, automotive, and electrical engineering. Both parties exchanged detailed perspectives on future collaboration, marking a new phase in Uzbekistan-Germany strategic relations.
10th meeting of the Uzbekistan-France Intergovernmental Commission held in France
On June 3-4, Uzbekistan's delegation, led by the Minister of Investments, Industry, and Trade, visited Paris. They attended the 10th Uzbek-French Intergovernmental Commission meeting and a business forum with over 80 representatives. Discussions focused on partnership opportunities in building materials, mineral extraction, aircraft manufacturing, automotive industry, green energy, water supply, and transport infrastructure. Meetings with French advisors and major company leaders underscored a commitment to enhance trade, economic, industrial, and investment cooperation.
Uzbekistan and Switzerland signed Water Resources Management Agreement
The Government of Uzbekistan and the Swiss Government have signed an agreement for Phase 3 of the National Water Resources Management Project (NWRM). This initiative, running from 2024 to 2027 with a $3.55 million budget, aims to enhance water management efficiency, promote water-saving technologies, and address climate change. The project focuses on capacity building for farmers and local water users in Central Asia, improving climate resilience, food and water security, and rural living conditions.
Trade turnover between Uzbekistan and the EU increased
In 2023, trade turnover between Uzbekistan and the EU increased by 11%, reaching $5.13 billion. Exports from the EU to Uzbekistan were $4.35 billion, while imports from Uzbekistan to the EU were $780 million. This marks a continued growth trend, as in 2022, EU exports to Uzbekistan grew by 63.9% and imports by 77.1%. This year marks the 30th anniversary of diplomatic relations between Uzbekistan and the EU.
1.2 CENTRAL ASIA & CAUCASUS
Uzbekistan and Turkmenistan to Develop Cooperation Program
Potential tourism cooperation between the Avaza National Tourist Zone and the Khorezm region was discussed during the 12th Islamic Conference of Ministers of Tourism in Khiva. The initiative includes mutual trips to strengthen tourism ties. The conference, attended by officials from the Organization of Islamic Cooperation and international bodies, focused on sustainable tourism development, resulting in resolutions to promote pilgrimage, medical, and ecological tourism.
Uzbekistan and Kazakhstan Seek European Funding for Railway Project
Uzbekistan and Kazakhstan are pursuing European funding for the Kyzylorda-Uchkuduk railway project, which aims to enhance economic integration and trade in Central Asia. The project was discussed by Uzbekistan's First Deputy Minister of Transport and a European Commission delegation, focusing on cooperation under the Trans-Caspian International Transport Corridor. Proposals have been submitted to the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).
Central Asian Foreign Ministers Convene for Consultations in Rome
In Rome, the foreign ministers of Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan held consultations during the III Ministerial Conference “Central Asia - Italy”. They discussed enhancing cooperation through Consultative Meetings of the Heads of State of Central Asia, focusing on political, trade-economic, investment, transit-transport, and cultural-humanitarian cooperation. Emphasizing friendship and strategic partnership, the ministers also addressed regional and international issues and explored collaboration prospects within multilateral frameworks in Central Asia.
Uzbekistan, Kazakhstan, and Kyrgyzstan signedAgreement on Kambarotinskaya HPP-1 Construction
Uzbekistan, Kazakhstan, and Kyrgyzstan signed a trilateral agreement in Vienna to prepare for the Kambarotinskaya HPP-1 project's construction and operation. The signing took place during Kyrgyzstan's international energy investment forum, supported by the World Bank Group. The forum highlighted Kyrgyzstan's energy sector reforms, investment opportunities, and the clean energy transition in Central Asia. Attended by approximately 200 industry representatives, the event emphasized cooperation in energy, including renewables, and mechanisms for utilizing water and energy at Kambarotinskaya HPP-1.
1.3 RUSSIA & CHINA
Agreement Signed for China-Kyrgyzstan-Uzbekistan Railway Construction
A strategic agreement was signed in Beijing to construct a 450 km railway connecting Kashgar in China and Andijan in Uzbekistan through Kyrgyzstan. The project, known as the China-Kyrgyzstan-Uzbekistan railway, is expected to become the shortest land route linking China with the region. This new railway will facilitate access to South Asian and Middle Eastern markets via the Trans-Afghan corridor. The project aims to create new enterprises, generate thousands of jobs, double mutual trade volumes, enhance production cooperation, and increase investment attractiveness, with an estimated annual freight volume of 12-15 million tons.
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