Uzbekistan Update: September 1 - 15, 2024
Uzbekistan Update: September 1 - 15, 2024
Biweekly update on key developments in Uzbekistan
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Notable Quotes
“Uzbekistan is an important partner for us” – German Chancellor Olaf Scholz
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 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
September 19, 2024 EUROUZ HR & Capacity Building Committee Members' meeting
This event will bring together committee members to discuss and develop strategies for human resources and capacity building within the organization. Members interested in contributing as speakers are encouraged to submit their topic proposals via email.
Time: 16:00 - 18:00 Tashkent (members event with limited external attendance)October 3, 2024 EUROUZ Networking Breakfast for Communication and PR professionals
Join us for an exclusive Networking Breakfast tailored for Communication and PR professionals. This event offers a unique opportunity to connect with industry peers, share insights, and explore new trends in the dynamic world of public relations. Engage in meaningful conversations over a delicious breakfast, expand your professional network, and gain fresh perspectives that can enhance your communication strategies.
Time: 08:30 - 10:00 UZ (members event with limited external attendance)November 7 - 8, 2024 The European Economic Days in Uzbekistan
EUROUZ proudly announces the annual EU-Uzbekistan Business Meeting on November 7- 8 our flagship event of the year. This prestigious gathering brings together top industry leaders, policymakers, and innovators from both the European Union and Uzbekistan. Organised in close collaboration with the Government of Uzbekistan and key EU institutions, this event provides a unique platform to elevate private sector engagement and foster robust economic partnerships between the EU and Uzbekistan. Don’t miss out on this premier opportunity to shape the future of EU-Uzbekistan relations. Registrations are now open!
Event website: http://economicdays.eurouz.events/Please contact info@eurouz.com for sponsorship inquiries.
OTHER IMPORTANT UPCOMING EVENTS ON OUR AGENDA
October 3-4, 2024 FinTech & Banking Forum 2024
Fintech & Banking Forum 2024 is a platform for leaders in the fintech and banking industries to explore innovations, discuss regulatory frameworks, and promote advancements in the sector across Central Asia. The event brings together local and international experts to exchange ideas and experiences, positioning Uzbekistan within the global fintech landscape. As a significant annual event, it aims to foster dialogue, innovation, and partnerships that impact the fintech and banking industries in the region
EUROUZ members are eligible for a discountOctober - 18, 2024 EMBRAS 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 teamNovember - 28, 2024 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 % discountITECA Exhibitions events for October 2024
2-4 October | Aquatherm Tashkent: All about heating, ventilation and water supply systems.
2-4 October | Plastex Uzbekistan: The latest trends in the plastics and polymers industry.
15-17 October | UzTextileExpo Autumn: The entire production chain of textile and garment products - from yarn to finished garments.
22-24 October | MiningMetals Uzbekistan: Innovations in mining, metallurgy and metalworking.
Uzbekistan International Mining and Metallurgical Forum (UIMF)
EUROUZ members are eligible for discounts on event participation as exhibitors. Please contact us for more info@eurouz.com
EUROUZ & MEMBER NEWS
The Chairman of the EUROUZ Board, Prof.Dr.Klaus Mangold and the senior management of two members of CLAAS and LINDE meet Uzbekistan’s President during German Chancellor Olaf Scholz's visit.
Business Breakfast with Uzbekistan's Chief Negotiator for WTO
On September 9th, EUROUZ, in collaboration with CCI France Ouzbékistan, hosted a Business Breakfast on Uzbekistan's WTO accession. The negotiation team, led by Mr Aziz Urunov, the President's Special Representative on WTO matters, shared the latest updates on the ongoing negotiations, some of which had not been previously shared publicly. The event gathered over 45 European business leaders, amongst EUROUZ and CCIFO members, government officials, and diplomats. Press release / Event pictures
EUROUZ ESG & Compliance Committee Meeting
On September 5, 2024, the EUROUZ ESG and Compliance Committee meeting was held. The meeting introduced the new chairwoman and co-chairman of the committee. Critical discussions addressed Uzbekistan’s efforts toward the 2030 Sustainable Development Goals, the involvement of legislative and executive authorities in ESG matters, and the growing importance of ESG reporting. Participants actively shared their insights and offered valuable feedback.
EUROUZ Back to Work Dinner and Jazz Night Event
On Wednesday September 11, EUROUZ hosted an unforgettable Back to Work Jazz Night, bringing together over 100 attendees, including EUROUZ members, CEOs, senior executives, government officials, diplomats, and representatives from international organizations. The event featured a rooftop dinner and live jazz at the iconic Lotte City Hotel. During the evening, we proudly introduced our latest initiative—the EUROUZ Executive Club—a dynamic new platform for top business leaders, diplomats, and thought leaders to foster closer collaboration within our expansive network in Uzbekistan and beyond. Press Release / Event pictures.
EUROUZ supports the visit of Polish Businesses Delegation to Samarkand
During their visit, the delegation led by the Chairman of the Assembly of the Lublin Voivodeship, Miczyslaw Ryba, toured the Urgut Free Economic Zone, visiting factories producing aluminum, metal tubes, and herbal products. They also held discussions with the Samarkand Government Municipality and Samarkand State University, exploring potential partnership opportunities. The delegation's visit to several regions of Uzbekistan was organised by Uzbekistan’s Embassy in Poland, a close EUROUZ partner.
EUROUZ member AKFA Aluminium Earns Credit Rating from S&P Global
AKFA Aluminium, a major producer of aluminum and plastic profiles in Central Asia, received its first credit rating of "B+/B" with a stable outlook from S&P Global. This marks a significant step in the company's transformation and international expansion, reflecting its strong market position and investment in automation. The rating acknowledges AKFA's robust financial and commercial position, increasing its credibility as a borrower. The company sees this rating as a gateway to new business opportunities, foreign investment, and access to global capital markets.EUROUZ Member Benkam Highlights Green Solar Components in U.S.
At the Solar Power International 2024 exhibition in Anaheim, EUROUZ member Benkam, presented its aluminum components for solar energy for thr US market. As one of Central Asia's largest aluminum extrusion companies, Benkam introduced its low-carbon Green-Ex and ReGreen-Ex profiles. These profiles are made with sustainable materials, emitting significantly less CO2 compared to the global average. Through this initiative, the company aims to expand its presence in the global solar energy market.EUROUZ Member Rothschild & Co Strengthens ties with Uzbekistan
Uzbekistan's Deputy Prime Minister, Jamshid Kuchkarov, met with Rothschild & Co representatives to enhance cooperation in economic reforms. Discussions focused on privatizing state banks, financial sector improvements, and transitioning to market-based energy policies. Both parties agreed on further collaboration in bank privatization and corporate transformation efforts. This partnership aims to bring international expertise to Uzbekistan's financial reforms.Forvis and Mazars Form Global Top 10 Network
Forvis and Mazars have officially launched Forvis Mazars, a global network combining both firms' expertise. This partnership creates a top 10 global network, offering comprehensive services in over 100 countries. Key leadership includes Hervé Hélias as Chair of the Global Network Board and Matt Snow as Vice Chair. The new entity aims to provide consistent, high-quality service worldwide while maintaining flexibility for local market needs.
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
Germany’s Federal Chancellor visits Uzbekistan accompanied by business leaders.
September 15th the President of Uzbekistan, Shavkat Mirziyoyev, held talks with German Chancellor Olaf Scholz in Samarkand to expand cooperation between Uzbekistan and Germany. The following inter-state documents were signed & projects initiated during the one and half-day visit to Samarkand, which also included over 20 business leaders of Germany’s largest companies:
Intergovernmental Agreement on a comprehensive partnership in the field of migration and mobility;
Intergovernmental Declaration on Cooperation in the Field of Veterinary Medicine and Animal Husbandry;
intergovernmental Declaration on cooperation in the field of sustainable use of water resources within the framework of the Green Central Asia initiative;
Joint Declaration on Cooperation in the Field of Critical Minerals;
Agreement on cooperation in the field of transport;
Memorandum of Understanding on Climate Change within the Framework of the Paris Agreement.
Initiation of the German funded management training programme for public administration
New EU Ambassador Discusses Strengthening Ties with Uzbekistan
The newly appointed European Union Ambassador to Uzbekistan, Toivo Klaar, presented his credentials to Foreign Minister Bakhtiyor Saidov. During the meeting, both parties discussed strengthening the relationship between Uzbekistan and the European Union, with a focus on cooperation and addressing global issues. Minister Saidov expressed confidence in Klaar's experience and his ability to advance EU-Uzbekistan relations. This meeting further emphasized Uzbekistan’s commitment to fostering ties between Central Asia and the EU.
Germany Partners with Uzbekistan on Climate Resilience Projects
Agreements were signed between Uzbekistan and Germany to collaborate on two climate-focused projects. The first initiative aims to develop strategies for climate protection through policy dialogue and managing climate risks, specifically in protected areas like the Sudochye Lake system. The second project, "Green Central Asia Phase II," targets regional cooperation in Central Asia for climate change adaptation, including climate risk assessments and a regional adaptation plan. Both efforts are part of a broader push for sustainability and climate resilience.
Uzbekistan to Boost EU Freight Transport through Bulgaria
Uzbekistan is set to expand its freight transportation to EU countries through Bulgaria. During a meeting of the Uzbekistan-Bulgaria Commission on International Road Transport, the two nations agreed to increase the number of transport permits issued to carriers by 15 times in 2025. The focus is on enhancing transit freight shipments via the Trans-Caspian International Transport Route, offering new opportunities for Uzbekistan's logistics sector. This development follows a recent agreement with Romania that allows bilateral freight transportation without permits, further diversifying Uzbekistan’s transport corridors.
Uzbekistan and EU Discuss Agricultural Innovation and WTO Accession Plans
Uzbekistan’s Deputy Prime Minister Jamshid Khojaev met with EU Agriculture Commissioner Janusz Wojciechowski to discuss agricultural collaboration on September 5. They highlighted Uzbekistan's agricultural reforms, including the adoption of water-saving technologies and a climate change adaptation program. Khojaev proposed Uzbekistan’s involvement in the EU’s “Smart AKIS” initiative to enhance agricultural knowledge systems. Both parties emphasized the value of EU experience in supporting Uzbekistan’s efforts toward World Trade Organization accession.
1.2 CENTRAL ASIA, CAUCASUS & CIS
Azerbaijan and Uzbekistan Partner in $150M Ferry Production Initiative
Azerbaijan and Uzbekistan plan to jointly produce ferries in a $150 million. This initiative is part of broader efforts to enhance cooperation between the two countries, particularly in transport and transit development. The partnership also includes joint ventures for warehouse infrastructure and expanding cargo routes along the Trans-Caspian corridor. The collaboration follows a business forum in Tashkent in late August, where both sides outlined projects worth $2 billion.
1.3 RUSSIA & CHINA
Green Energy and Innovation Drive Stronger Uzbekistan-China Partnership
Uzbekistan and China have agreed to strengthen cooperation in green energy, trade, and innovation. During a meeting between President Shavkat Mirziyoyev and Chen Min'er, Secretary of the Communist Party of Tianjin, they discussed enhancing partnerships across various sectors, including agriculture, textiles, pharmaceuticals, and infrastructure. Both sides also emphasized fostering educational and cultural exchanges while developing a roadmap for interregional collaboration. This meeting reflects growing ties between Uzbekistan and China, particularly in promoting sustainable and innovative industries.
Uzbekistan and Russia signed Agreements in Transport and Healthcare
Uzbekistan and Russia have signed key agreements aimed at enhancing cooperation in several sectors, including railway transport, pharmaceuticals, and medical training. These agreements include the "Agroexpress" project for accelerated railway transportation, an information exchange on pharmaceutical labeling, and a memorandum to improve medical personnel training. The deals were signed during a meeting in Tashkent between Prime Ministers Abdulla Aripov and Mikhail Mishustin. This collaboration aims to strengthen logistics, healthcare, and regulatory alignment between the two countries.
Russian PM's Visit to Uzbekistan Strengthens Bilateral Ties and Trade
Russian Prime Minister Mikhail Mishustin visited Uzbekistan on September 9-10, 2024, to attend the 5th session of the Joint Commission at the governmental level. The visit focused on enhancing bilateral trade, economic, cultural, and humanitarian ties. Discussions included large-scale projects in industry, energy, transport, and agriculture, with several intergovernmental agreements expected to be signed. Mishustin also toured key manufacturing and industrial sites in Tashkent during the visit.
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