Authors:

Eldor Aripov, Director of the Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan

KANG Myongil, Senior Executive Director of the Institute of Foreign Affairs and National Security

When a diplomatic dialogue is elevated from the level of foreign ministers to that of heads of state, it is rarely a matter of protocol alone. Such decisions are typically made when existing mechanisms of cooperation no longer match the scale of emerging challenges.

That is precisely why the upcoming inaugural Republic of Korea-Central Asia Summit marks an important milestone in relations between the two sides. The state visit of President of the Republic of Uzbekistan Shavkat Mirziyoyev to Seoul will take place on the occasion of the Summit.

The Republic of Korea-Central Asia framework itself is not new. For nearly two decades, it has served as a valuable platform for political dialogue and practical cooperation, generating numerous joint initiatives. Bringing the format to the leaders' level, however, reflects a qualitative shift — from sectoral coordination toward strategic decision-making.

For the Republic of Korea, this elevation also reflects a clear commitment to engage Central Asia as a strong strategic partner and to forge a mutually beneficial partnership that builds on strong bilateral ties while advancing broader regional cooperation.

The principal reason for this elevation lies not in a sudden change in Seoul's policy but in the convergence of two developments: the transformation of Central Asia itself and Korea's determination to deepen strategic engagement with the region.

Over the past several years, the region has undergone perhaps its most profound transformation since independence. The Central Asian states have significantly strengthened mutual trust, institutionalized regular political dialogue, and launched mechanisms for practical regional cooperation. As a result, Central Asia is increasingly viewed not simply as a geographical concept, but as a region with the capacity to pursue shared priorities and act with greater strategic coherence.

Against this backdrop, the Republic of Korea's growing interest in the region is hardly accidental.

Korea's economic competitiveness increasingly depends not only on technological leadership but also on resilient supply chains, diversified production networks, and reliable long-term partnerships. Seoul is therefore seeking partners that can offer strategic resources, industrial potential, skilled human capital, and political stability at the same time.

Korea's approach, however, should not be understood as a narrow search for resources or market access. Its comparative strength lies in jointly creating value through technology and knowledge sharing, capacity building, industrial diversification, and the development of secure and sustainable supply chains.

Central Asia is steadily emerging as one such partner, and Korea, for its part, can be a reliable partner in the region's efforts to diversify its economies and move up global value chains.

Today, the region is becoming one of Eurasia's most promising growth markets. Its combined population has surpassed 85 million, with more than half under the age of thirty, while its economies have maintained solid growth in recent years. This combination of demographic dynamism, expanding domestic markets, and growing regional connectivity is reshaping perceptions of Central Asia among global investors and technology-driven economies alike.

Uzbekistan occupies a pivotal place in this transformation.

President Shavkat Mirziyoyev's policy of openness and proactive regional engagement has become a key driver of Central Asia's growing cohesion. Uzbekistan, home to nearly 38 million people — almost half of the region's population — has played a leading role in promoting dialogue, connectivity and practical cooperation across Central Asia.

The country has likewise deepened its partnership with the Republic of Korea. Bilateral trade has nearly doubled over the past eight years. Around 700 enterprises with Korean capital are currently operating in Uzbekistan, while cumulative Korean investment has exceeded US$8 billion. Korean companies are active across a wide range of sectors, including energy, chemicals, engineering, healthcare, digital technologies and education.

People-to-people ties are equally significant. Uzbekistan is home to the largest ethnic Korean community in the post-Soviet space, numbering approximately 170,000 people. The presence of campuses of leading Korean universities further underscores the long-term and multidimensional nature of bilateral cooperation.

These human links give the partnership a distinctive depth. The “Koryo-Saram,” ethnic Koreans in Central Asia, is not only a reminder of shared history, but also a living bridge between the two societies: Expanding educational exchanges and professional mobility can ensure that this relationship remains strong for the next generation.

Yet the true significance of the partnership extends well beyond these impressive figures.

For Central Asia, the Republic of Korea represents one of the world's most compelling examples of successful modernization. Within the span of a single generation, Korea transformed itself from a developing economy into a global technology powerhouse. For a region pursuing ambitious economic reforms, industrial upgrading, and digital transformation, Korea's experience offers not simply a model to study but a practical source of policy inspiration and institutional know-how.

Against this backdrop, the first Republic of Korea-Central Asia Summit at the level of heads of state carries significance far beyond the diplomatic calendar.

It reflects a simple but important reality: Relations between the Republic of Korea and Central Asia have reached a level of maturity where future progress depends not on expanding the number of individual projects but on defining a shared long-term strategic vision.

If the past two decades were devoted to building a solid foundation for cooperation, the decade ahead should be shaped by a common response to the challenges of a new economic era — from artificial intelligence and digital transformation to critical minerals, green infrastructure, industrial cooperation, and human capital development.

This is the broader significance of the upcoming summit.

Its historic importance lies not merely in bringing regional leaders together for the first time but in providing an opportunity to define the next stage of a partnership whose ambitions have already outgrown its previous institutional framework. Success should therefore be measured not only by the number of agreements to be announced in Seoul but by whether the summit establishes regular dialogue at the leaders' level and a practical roadmap that delivers visible and mutually beneficial results for both the Republic of Korea and Central Asia.

A deeper model is beginning to take shape in Uzbek-Serbian economic relations, based on companies’ mutual access to each other’s markets. The Uzbek side is exploring participation in infrastructure projects in Serbia, while Serbian partners are considering localization, contract manufacturing, and the placement of orders in Uzbekistan. In this way, trade relations are being complemented by investment and production projects capable of giving cooperation a more sustainable character.

The economic logic behind this rapprochement is largely determined by the geographical position of the two countries. Serbia is in close proximity to the major markets of Central and Southeastern Europe and benefits from an extensive network of trade agreements. Uzbekistan is consistently expanding its industrial base and deepening localization in Central Asia. This combination creates favorable conditions for projects in which the partner’s market serves as a platform for production and investment, followed by access to neighboring markets.

Existing trade already outlines the sectoral foundation for cooperation. Uzbekistan supplies Serbia with food, textile, and chemical products, while Serbian exports include industrial equipment, machinery, metal products, and other goods for production purposes. The greatest potential lies in segments where supplies can be further developed through production specialization and joint investment.

The development of transport connectivity between Central Asia and Europe is increasing the importance of the Serbian route. Serbia is considered a potential European link of the Middle Corridor, or Trans-Caspian International Transport Route. Increasing the reliability and predictability of transportation reduces logistical constraints for businesses and improves the economics of projects targeting both Central Asian and European markets.

Against this background, cooperation in the railway sector is particularly significant. The sides are exploring a joint project for the construction of approximately 200 kilometers of railway infrastructure in Serbia. For Uzbekistan, the significance of this initiative goes far beyond a single infrastructure project. It provides an opportunity to bring to the European market the expertise accumulated in railway construction, engineering, and the implementation of major transport facilities. This expands the country’s export potential through engineering and construction services and gives national companies an opportunity to gain experience in implementing projects within the European business and regulatory environment.

In industry, the transition to more sophisticated forms of cooperation is taking place in several formats. In light industry, the placement of orders from Serbian brands at existing Uzbek production facilities is being considered. In pharmaceuticals, contract manufacturing of medicines in cooperation with Hemofarm and Galenika is being explored, along with local production in cooperation with the Torlak Institute. In mechanical engineering and electrical engineering, the focus is on the localization of metal components and the assembly of electric motors. This agenda is complemented by initiatives in the chemical industry and small and medium-sized hydropower.

These formats reflect different levels of enterprise involvement in joint value chains. The placement of orders makes it possible to utilize existing production capacities and establish links with international brands. Contract manufacturing raises requirements for technologies, standards, and quality control. Component localization brings more complex operations into the country and generates demand for local suppliers. In this way, commercial ties gradually create a foundation for sustainable production specialization. The mutually beneficial nature of cooperation is also evident in construction.

Alongside joint efforts to develop railway projects in Serbia, the involvement of Serbian contractors in major urban development projects in Uzbekistan is also being considered. Each side has the opportunity to apply its own experience in the partner’s market and expand the geographical reach of its national businesses.

At this stage, the institutional framework is of particular importance. The agreements on the mutual promotion and protection of investments and on economic cooperation that have entered into force provide a legal framework for long-term investment and systematic sectoral cooperation. Their practical value lies in supporting the initiatives already identified — from determining participants and developing financing models to their direct implementation.

The contours of the next stage are therefore already sufficiently clear: infrastructure services in the European market, the integration of Uzbek enterprises into international production chains, the development of more sophisticated technological operations within the country, and mutual participation of businesses in major projects. This is creating a deeper structure of relations in which trade is extended through investment and industrial cooperation.

The key task now is to consistently transform the established portfolio of initiatives into operational projects. Their implementation will make it possible to turn the geographical position of the two countries into a practical economic resource: for Uzbekistan, to expand the activities of national businesses in the European market; and for Serbia, to develop a long-term presence in the industrial space of Central Asia.

The globalization of today’s economy, together with the current geopolitical and geo-economic situation in the world, is shaping economic cooperation between states not only on the basis of geographical proximity, but also through the convergence of mutual interests.

Uzbekistan’s independent and balanced foreign policy is contributing to a steady annual increase in the number of its partner countries. While preserving cooperation with its immediate neighbours, this multifaceted foreign policy primarily serves to strengthen mutually beneficial relations with countries in different regions of the world. In particular, Uzbekistan’s relations with the Balkan states have developed across various fields in recent years. Cooperation with Serbia deserves special mention in this regard.

Diplomatic relations between Uzbekistan and Serbia were established on 18 January 1995. Since then, cooperation between the two countries has developed steadily at various levels. Although the pace of bilateral cooperation was relatively modest in certain years, Uzbekistan’s increasingly proactive foreign policy and its reforms aimed at diversifying international relations have significantly strengthened Uzbek–Serbian relations in recent years.

Over the past three to four years, mutually beneficial cooperation and political and economic dialogue between official Tashkent and Belgrade have reached a qualitatively new level. Exchanges between the two heads of state have consequently become important milestones in bilateral relations. In particular, the meeting between President of Uzbekistan Shavkat Mirziyoyev and President of Serbia Aleksandar Vučić, held on 20 August 2023 on the sidelines of the World Athletics Championships in Budapest, gave fresh impetus to cooperation between the two countries. The two leaders held their next meeting in Beijing on 3 September 2025. These meetings reaffirmed the parties’ interest in further expanding cooperation, particularly in trade, investment, industry, mechanical engineering, pharmaceuticals, agriculture, information technology, artificial intelligence, tourism, education and transport, as well as in intensifying interstate dialogue.

The fundamental principles of Uzbekistan’s foreign policy include, first and foremost, adherence to international law and the Charter of the United Nations, respect for state sovereignty and the inviolability of borders, friendship and mutually beneficial cooperation, non-interference in internal affairs, and the peaceful settlement of international disputes. From this perspective, the foreign ministries of the two countries are also conducting consultations on an equal footing and implementing measures aimed at advancing bilateral cooperation.

In August 2017, the Political Director of the Serbian Ministry of Foreign Affairs and the President’s Special Envoy for Kosovo, Zoran Vujić, visited Tashkent. During the visit, prospects for political dialogue and cooperation with international organizations such as the United Nations, the OSCE and UNESCO were discussed with his participation.

In 2021, political consultations were held in Tashkent with the participation of Serbian Ministry of Foreign Affairs State Secretary Nemanja Starović. On 9 October 2025, the second round of political consultations between the foreign ministries of Uzbekistan and Serbia was held by videoconference.

The signing in 2022 of the Protocol on Cooperation and Interministerial Consultations between the two countries’ foreign ministries marked the beginning of a new period in Uzbek–Serbian relations. The document established a legal basis for the parties’ strategic plans to hold regular consultations, broaden cultural and humanitarian dialogue, and strengthen political cooperation in order to further develop relations between the two states.

In September 2025, the foreign ministers of the two countries met on the sidelines of the United Nations General Assembly in New York. These engagements represented an important step towards establishing a new architecture of dialogue at various levels between Tashkent and Belgrade. As a result of these efforts, Uzbekistan appointed its first ambassador to Serbia in 2025, marking another important milestone in the further development of bilateral relations.

Although trade and economic cooperation between Uzbekistan and Serbia currently remains modest in scale, it is important to emphasize that the area holds considerable potential. Through Serbia, Uzbekistan has the capacity to expand its relations with other Balkan countries, including Croatia, Albania, North Macedonia, Montenegro and Slovenia.

A number of measures are being developed to increase Uzbekistan’s trade with the Balkan states and to prepare extensive cooperation programmes in mechanical engineering, pharmaceuticals, agriculture, the chemical industry, information technology and digitalization, the agro-industrial sector, tourism and many other important industries.

The geopolitical and geo-economic instability witnessed worldwide in recent years has also prompted Uzbekistan to further develop international transport corridors. Uzbekistan, which has direct access to every Central Asian country, is recognized as being favourably located for expanding links between China, India, Europe and other countries. In order to capitalize on these opportunities, the country is seeking to open new transport corridors along the Central Asia–Balkans route. For Uzbekistan, the comprehensive development of trade and economic relations with the Balkan states within the framework of the Trans-Caspian Corridor is of strategic importance.

There are currently around ten enterprises with Serbian capital operating in Uzbekistan, including two joint ventures, while the remainder operate as individually owned business entities. Although bilateral trade amounts to approximately USD 12 million per year, there is substantial untapped potential for developing economic, investment and trade relations.

An examination of the priority areas, agreements and contracts identified during official negotiations and business forums held between the two countries in 2023–2026 shows that imports of industrial equipment, machinery and mechanisms from Serbia are of particular importance to Uzbekistan. Key priorities include introducing Serbian technologies into Uzbekistan, establishing joint ventures, launching the production of automotive components in the country, localizing selected manufacturing industries, and turning Uzbekistan into a production base serving not only the Central Asian market but also European markets.

For Serbia, investment projects in Uzbekistan’s agriculture, food industry, food-processing equipment, digitalization, artificial intelligence, pharmaceuticals, textiles and automotive sectors are particularly relevant. These include introducing European technologies into Uzbekistan, applying European know-how and experience across sectors and industries, and contributing to regional development. This would enable the two countries to further advance industrial cooperation and implement promising joint projects in light industry, textiles, pharmaceuticals, automotive manufacturing and agriculture.

In conclusion, although political agreements between the two countries are important, the first essential factor in translating them into tangible economic results is the launch of transport corridors, while the second essential factor is creating broad opportunities for business. To make effective use of these factors, the following steps should be taken:

First, the transport corridor between the two countries should become more than merely a “freight route”; it should provide Uzbekistan with access to European global value chains through the Balkans.

Second, alongside increasing the volume of mutual trade, serious attention should be paid to its quality. Priority should be given to exports of high value-added goods rather than raw materials, semi-finished goods or basic products.

Third, mechanisms to promote investment between the two countries should be developed. Attracting Serbian capital and technologies to Uzbekistan’s economy, while expanding the presence of Uzbek businesses in Balkan markets, would generate significant benefits for both economies.

Fourth, joint production should be introduced through the establishment of industrial cooperation between the two countries. Rather than manufacturing a product in one country and exporting it to the market of the other, combining the resources and capabilities of both states to enter third-country markets would be more economically advantageous.

Fifth, transport and logistics integration between the two countries should be established. In the future, such integration would not only reduce transport costs but also facilitate the development of new transit routes, thereby expanding trade opportunities.

Sixth, efforts to develop human capital and introduce technologies into production should be intensified. In this context, economic cooperation would extend beyond the exchange of goods and further strengthen ties among specialists, researchers, engineers and entrepreneurs.

In summary, the new economic bridge between Uzbekistan and Serbia can serve as an important pillar of economic growth for the countries of Central Asia and the Balkans. As a result, Uzbekistan will gain opportunities to develop international transport corridors, improve the efficiency of transport and logistics processes, reduce cargo delivery times by two to three times, establish a dry port, and enhance its international trade and transit potential.

Nodirbek Rasulov,

Doctor of Economics, Professor,

Project Manager at the Institute for Macroeconomic and Regional Studies

Uzbek–Korean relations are entering a new stage of development. While trade, investment and equipment supplies previously formed the foundation of bilateral ties, the emphasis is now shifting towards deeper industrial and technological cooperation.

The development of joint production and technology chains, the localisation of high-tech manufacturing, the advanced processing of critical mineral resources, and human capital development are emerging as key areas of bilateral cooperation. This trajectory is aligned with the long-term priorities of both countries.

The Republic of Korea seeks to diversify its sources of raw materials and enhance the reliability of supply. Uzbekistan, in turn, is interested in expanding domestic resource processing, adopting advanced technologies, and increasing the value added generated within the country. The complementarity of these objectives provides a basis for moving from predominantly investment-based cooperation towards a comprehensive industrial and technological partnership.

In 2025, bilateral trade amounted to approximately $1.8 billion. In August 2026, the two governments established a joint working group tasked with increasing annual trade turnover to $4 billion in the near term.

Investment cooperation has assumed an even greater scale. The cumulative volume of Korean investment attracted to Uzbekistan’s economy has exceeded $10 billion, including approximately $8 billion in foreign direct investment. The presence of Korean businesses is also expanding. Today, around 1,000 enterprises with Korean capital operate in the country, compared with 359 in 2019.

The investment base accumulated over the years has been translated into a number of major projects. The most significant is the Uz-Kor Gas Chemical joint venture, valued at approximately $4 billion — the largest investment project in the history of bilateral relations. The enterprise produces polyethylene, polypropylene and commercial gas for the domestic market and export.

The automotive industry occupies a prominent place in bilateral cooperation. In partnership with Kia Corporation, the ADM Jizzakh plant manufactures a broad range of vehicles using semi-knock-down assembly. Enterprises within the UzAuto Components network manufacture components for UzAuto Motors vehicles, including air-conditioning systems, seats, stamped parts and plastic components.

Industrial cooperation also extends to the textile sector. Posco International Group enterprises in the Fergana and Bukhara regions process cotton fibre and export high-quality yarn and fabrics to European and Asian markets.

Cooperation is also developing in the pharmaceutical industry. At the Tashkent Pharma Park cluster, Korean companies are participating as investors and technology providers in the manufacture of pharmaceutical products in accordance with international Good Manufacturing Practice standards.

The broadening sectoral scope of cooperation is creating the conditions for a transition from individual investment projects to sustainable production linkages between enterprises in the two countries.

Why Cooperation Is Acquiring a New Quality

Deeper industrial and technological cooperation is being driven by changes in the global economy. Geopolitical uncertainty, trade restrictions and the restructuring of global supply chains have increased the importance of economic security.

This issue is particularly relevant for the Republic of Korea. Its leading industries — electronics, semiconductors, automotive manufacturing and battery production — depend on stable supplies of raw materials, materials and components.

The country ranks third globally in electronics manufacturing and is a leader in the memory-chip segment. It accounts for approximately 13–15 per cent of the global semiconductor market. The Republic of Korea is also among the world’s seven largest automobile manufacturers and the three global leaders in battery technology.

The reliance of its key industries on imports is prompting Seoul to broaden its economic partnerships and diversify its supply base for raw materials, processed materials and components. Against this backdrop, Central Asia is assuming greater importance as a resource-rich region seeking to advance its industrial modernization.

At the same time, Uzbekistan is placing greater emphasis on the quality of incoming investment. At the present stage, not only the volume of investment but also its technological impact is becoming increasingly important. The principal focus is on establishing new production facilities, expanding domestic processing, strengthening export capacity and training qualified personnel.

The convergence between the Republic of Korea’s need for reliable sources of raw materials and Uzbekistan’s aspiration to develop their advanced processing lends particular importance to cooperation in critical minerals.

From Raw-Material Trade to Value Chains

Uzbekistan possesses reserves of copper, tungsten, lithium, molybdenum, zinc and other strategically important resources. For the Republic of Korea, these resources are of interest as an important component of the raw-material base for high-tech industries.

For Tashkent, the priority is not simply to expand raw-material exports, but to progressively deepen their processing within the country. In this regard, a promising model would integrate resource extraction, processing, the manufacture of intermediate products and their subsequent industrial use into a single value chain.

This approach serves the interests of both sides. It would enable the Republic of Korea to diversify its sources of strategic raw materials and enhance supply-chain resilience. Uzbekistan, meanwhile, would be able to expand processing, master new technological processes and increase the share of high-value-added products.

The localisation of individual stages of the technological cycle in Uzbekistan is becoming particularly important. The greater the number of production operations carried out within the country, the more substantial the benefits for industry, employment and the training of national specialists.

Thus, the traditional model of cooperation, based primarily on supplies of raw materials and equipment, is gradually being complemented by a model centred on the joint creation of value added.

Technology, Financing and Human Capital

The development of production chains requires not only investment, but also technology, long-term financing and qualified personnel. The combination of these elements could become one of the principal strengths of the Uzbek–Korean partnership.

The financial and institutional framework required to deepen cooperation is already taking shape. Under the partnership with the Republic of Korea’s Economic Development Cooperation Fund (EDCF), the ceiling for concessional financing available to Uzbekistan has been raised to $2 billion. The funds are being channelled into projects in digitalisation, healthcare, education and infrastructure.

Additional opportunities are provided by the Export-Import Bank of Korea. It helps finance the acquisition of Korean industrial equipment through credit lines extended to Uzbek banks. Export credit insurance mechanisms also facilitate the mobilisation of bank financing for joint initiatives.

These financial instruments are complemented by expanding technological cooperation. In August 2026, the two sides intensified their engagement in artificial intelligence and digital transformation. With the support of the National Information Society Agency of the Republic of Korea (NIA), cooperation is developing in digital government, data standardization and the introduction of AI solutions.

For Uzbekistan, this work is important not only in terms of the digitalization of individual sectors. The standardization of production data, automation and the application of artificial intelligence can increase productivity and lay the groundwork for the development of modern smart manufacturing.

Human capital development remains an equally important component. Branches of four South Korean universities operating in Uzbekistan — Yeoju, Inha, Bucheon and Kimyo International University — train engineers, IT specialists and technologists for emerging sectors of the economy.

This educational dimension is complemented by the organised employment of Uzbek specialists in the Republic of Korea under the Employment Permit System (EPS). Employment at Korean industrial and shipbuilding enterprises enables them to acquire practical skills and become familiar with modern manufacturing practices.

The significance of this mechanism is gradually extending beyond labour mobility. If the acquired competencies are used effectively, it could become an important channel for transferring industrial expertise and professional knowledge.

The combination of financial instruments, technology and human capital development is creating the foundation required for deeper industrial cooperation.

From Bilateral Partnership to a Regional Dimension

The integration of Uzbek–Korean cooperation into the broader agenda between the Republic of Korea and Central Asia opens up additional opportunities.

The first summit between the Republic of Korea and the five Central Asian states is scheduled to take place in Seoul on 16–17 September 2026. The new format reflects Seoul’s growing interest in the region as a promising area for industrial, technological and resource cooperation.

This creates additional opportunities for Uzbekistan. The country possesses a sizeable domestic market, considerable demographic potential, a substantial resource base and a developing industrial sector. Its accumulated experience of cooperation with Korean businesses and financial institutions constitutes another significant advantage.

Taken together, these factors enable Uzbekistan to position itself as one of the leading platforms for the Republic of Korea’s industrial and technological cooperation with Central Asia.

The consistent development of production chains, localisation of technologies and training of qualified personnel could make Uzbek–Korean cooperation a notable example of the transition from an investment partnership to industrial and technological cooperation in Central Asia.

Chief Research Fellow at the Institute for Strategic and Regional Studies (ISRS) under the President of the Republic of Uzbekistan (ISRS), Doctor of Economics
Dmitry Trostyansky

Ahead of the 81st session of the U.N. General Assembly and the 2026 SDG Moment, regional mechanisms for implementing the Sustainable Development Goals are gaining new relevance.

Jakhongir Isaev

The 81st session of the U.N. General Assembly opens on Sept. 8, while world leaders will gather for the SDG Moment on Sept. 18. These events will once again focus attention on how to accelerate progress toward the Sustainable Development Goals in the limited time remaining before 2030.

The U.N.’s 2026 Sustainable Development Goals Report shows that of 139 targets with sufficient trend data, only 36% are on track or making moderate progress. The report emphasizes the need for more investment, technology, data and international cooperation. At the same time, many of the most difficult development challenges are regional, while the main delivery mechanisms remain largely national.

Water basins, electricity grids, transport corridors, air pollution, climate risks and labor markets do not stop at national borders. National plans therefore increasingly need to be complemented by regional coordination, shared data, financing instruments and accountability mechanisms.

Central Asia is beginning to accumulate practical experience in this direction. It would be misleading to present the region as a finished model: serious water, infrastructure and institutional challenges remain. Yet several initiatives advanced in 2026 indicate how a regional layer of SDG implementation can take shape.

In April, the U.N. General Assembly adopted Resolution 80/260 on strengthening regional cooperation and economic integration for sustainable development in Central Asia. Supported by the five Central Asian states and 66 co-sponsors, the resolution calls for closer coordination among countries and for U.N. agencies, funds and programs to align their work around regional priorities.

The practical value of this approach is that country programs run by international organizations can be linked around common cross-border outcomes. Water efficiency, clean electricity trade or better transport connectivity can become measurable regional missions around which national reforms and development-partner resources are coordinated.

Energy is already moving in that direction. In January, the World Bank approved the first phase of the Regional Electricity Market Interconnectivity and Trade program. The 10-year initiative aims to establish Central Asia’s first regional electricity market, expand transmission capacity and enable larger-scale renewable-energy integration.

Water cooperation provides another important example. The World Bank estimates that limited coordination among national water systems costs Central Asia more than $4.5 billion a year. In July, it approved a regional project through the International Fund for Saving the Aral Sea to strengthen transboundary water management, digitize water accounting and prepare joint infrastructure investments. Around 40 million people are expected to benefit directly or indirectly.

Regional cooperation inevitably requires countries to reconcile different interests — between upstream and downstream states, electricity exporters and importers, transit economies and landlocked countries. For that reason, an effective model also needs mechanisms for benefit-sharing, dispute resolution and transparent monitoring.

Central Asia’s emerging experience suggests four practical lessons for the wider SDG system. First, regional cooperation should focus on specific and measurable missions. Second, multilateral development banks could expand regional financing instruments that reward joint delivery. Third, common standards and interoperable data platforms should be treated as part of regional public infrastructure. Fourth, the U.N. development system can align more of its country-level support around common regional results when dealing with transboundary challenges.

Such an approach does not weaken national sovereignty. On the contrary, it gives governments additional tools to address problems that cannot be solved effectively by one country alone. Regional cooperation also does not replace global cooperation; it serves as an important bridge between global goals and national implementation.

The 2026 SDG Moment emphasizes scaling solutions that have demonstrated results. The mechanisms now emerging in Central Asia are relevant from this perspective because they point to the need to scale not only individual projects, but also the institutions that connect countries, budgets, data and accountability.

In the next phase of the SDGs, greater attention should therefore be given to strengthening practical delivery mechanisms. For many cross-border challenges, regional cooperation can be one of the most effective levels at which this work is organized.

Jakhongir Isaev is Head of Department at the NGO Center for Sustainable Development. He writes on sustainable development, international cooperation and regional policy.

The Center for Economic Research and Reforms (CERR) examines the prospects for expanding trade, economic and investment cooperation between Uzbekistan and Serbia.

As Uzbekistan broadens its economic engagement with Europe, new avenues for cooperation are emerging. Serbia is becoming one of these promising directions, with its strategic location offering Uzbek businesses additional opportunities to access markets across Central and Southeastern Europe.

For Serbia, closer cooperation with Uzbekistan provides access to Central Asia’s growing market as well as new manufacturing and investment opportunities. This complementarity creates considerable scope for taking bilateral economic relations well beyond their current level.

A New Stage in Economic Relations

Economic ties between Uzbekistan and Serbia have gained significant momentum in recent years. In April 2023, Serbia’s First Deputy Prime Minister and Minister of Foreign Affairs Ivica Dacic paid an official visit to Uzbekistan.

A major milestone came with the first official visit of Serbian President Aleksandar Vucic to Uzbekistan on October 28–31, 2025. Following talks in Tashkent, the two countries signed an Agreement on the Reciprocal Promotion and Protection of Investments and an Agreement on Economic Cooperation.

These agreements established a stronger institutional framework for investment projects and more systematic cooperation between businesses in the two countries.

In May 2026, during a visit by Serbian Foreign Minister Marko Duric, the two sides continued discussions on expanding trade and industrial cooperation. Mechanical engineering, pharmaceuticals, the chemical industry, agriculture and a number of other sectors were identified among the most promising areas.

The economic rationale for closer cooperation is closely linked to the geographical positions of the two countries and their ability to provide access to broader regional markets.

Serbia lies at the heart of the Balkans, connecting the markets of Central and Southeastern Europe. Uzbekistan, meanwhile, has the largest consumer market in Central Asia and a rapidly expanding industrial base.

This economic complementarity creates opportunities that extend well beyond bilateral trade. For Uzbek businesses, Serbia can serve as a gateway to European markets through the Balkans. For Serbian companies, Uzbekistan offers a platform for expanding their presence across Central Asia.

Trade Is Gaining Momentum

Trade between Uzbekistan and Serbia has expanded rapidly in recent years. Between 2016 and 2025, bilateral trade increased almost ninefold, from $1.4 million to $12 million.

In 2025, Uzbekistan exported $0.9 million worth of goods and services to Serbia, while imports from Serbia exceeded $11 million.

The composition of trade highlights the different nature of the two countries’ supplies.

Food products accounted for the largest share of Uzbekistan’s exports to Serbia at 47%, followed by manufactured goods at 23.8%, services at 20.8%, chemical products at 4.8%, crude materials excluding food at 2.4%, and mineral fuels and lubricants at 1%.

Serbian exports to Uzbekistan, by contrast, are predominantly industrial in nature. Machinery and transport equipment accounted for 50% of imports, followed by chemical products at 20.1% and manufactured goods at 16.8%. Food products represented 4.8%, miscellaneous manufactured articles 4.2%, services 2.6%, and crude materials excluding food 1.5%.

Together, machinery and transport equipment, chemical products and manufactured goods account for 87% of Serbian supplies to Uzbekistan. This predominantly industrial structure creates a solid foundation for developing deeper production cooperation between companies in the two countries.

In 2026, nine enterprises with Serbian capital were operating in Uzbekistan. The cumulative volume of foreign direct investment and loans attracted from Serbia between 2016 and 2025 amounted to $2.2 million.

The next stage of bilateral cooperation could therefore involve a transition toward more sophisticated forms of economic engagement, including contract manufacturing, localization and joint investment projects.

From Trade to Industrial Cooperation

The greatest potential for further cooperation lies in expanding production and investment links between companies in the two countries.

Particularly promising areas include light industry, pharmaceuticals, mechanical engineering, electrical engineering, the chemical industry and energy. Opportunities in these sectors include placing manufacturing orders with Uzbek enterprises, localizing production, producing components and implementing joint projects.

Infrastructure represents another promising area. Uzbekistan’s potential participation in railway projects in Serbia is currently being explored. Such cooperation could enable Uzbek companies to expand exports of engineering and construction services and gain experience in implementing projects in European markets.

Serbian companies, in turn, could broaden their participation in infrastructure and industrial projects in Uzbekistan.

Stronger production linkages between enterprises could also increase the involvement of local suppliers from both countries in international value chains.

The new institutional framework, together with investment initiatives and growing industrial cooperation, creates the conditions for bilateral economic relations to move toward a broader and more diversified model.

The Balkan direction could thus become an important route for expanding the presence of Uzbek businesses in Europe, while Uzbekistan could serve as a platform for Serbian companies seeking to establish a long-term presence in Central Asia.

As production ties deepen, companies from Uzbekistan and Serbia may also gain new opportunities to jointly enter third-country markets.

Khurshed Asadov,
Deputy Director of Center for Economic Research and Reforms

As the SCO approaches its 25th anniversary, the Organization’s economic component is acquiring an increasingly concrete and practical character. Today, the Organization brings together 10 states with a combined population of more than 3.4 billion people, accounting for nearly one-quarter of global GDP and more than 15% of international trade. The concentration of markets, resources, and production capabilities creates a significant foundation for investment, cooperation, and the development of interconnected infrastructure.

        On August 31 – September 1, 2026, the anniversary SCO Summit will be held in Bishkek, marking the conclusion of Kyrgyzstan’s SCO chairmanship. The Summit comes in the first year of implementation of the Strategy for the Development of the Organization until 2035, adopted in Tianjin. From the perspective of the investment, trade, and industrial agenda, this period is primarily associated with improving conditions for businesses: reducing barriers, simplifying procedures, expanding production linkages, developing transport and digital infrastructure, and improving financing instruments.

        For Uzbekistan, this approach continues the consistently pursued policy of strengthening the economic dimension of the SCO. The Samarkand Summit of 2022 was an important milestone, consolidating initiatives in the areas of sustainable supply chains, food and energy security, and expanding the scope for economic cooperation.

        The importance of this resource for the national economy is already reflected in the dynamics of key indicators. In 2025, Uzbekistan’s trade turnover with the SCO countries reached USD 40.6 billion, increasing by 21.7%. In January–June 2026, it amounted to USD 21.9 billion. The volume of investments attracted from the Organization’s countries reached USD 24.8 billion in 2025 and USD 17.8 billion in the first half of 2026. The joint investment portfolio includes 1,438 projects with a total value of USD 102.8 billion.

        The volumes achieved make it possible to place greater emphasis on the quality of economic ties — increasing the share of finished products, establishing joint production facilities, localizing technological operations, and developing value-added chains with access to the markets of new countries.

        To develop such ties, businesses need to identify potential areas for industrial cooperation. One of the instruments is the Industrial Investment Projects Data Bank, the regulations for which were agreed upon in June 2026. Its value lies in the ability to match investment initiatives with the capabilities of participating states, their needs for raw materials and components, available infrastructure, and potential markets.

        This system could be further developed through the SCO Industrial Cooperation Map, which would make it possible to link individual initiatives into production chains and identify areas where the capabilities of different countries complement each other.

        At the initial stage, promising areas include the textile and agro-industrial sectors, which have the relevant raw material base, production capabilities, and sales channels. In the future, this approach could be extended to mechanical engineering, electrical engineering, pharmaceuticals, the chemical industry, and the production of construction materials.

        For each initiative, this model envisages identifying partners, sources of financing, implementation timelines, localization parameters, and target markets. This makes it possible to structure the project economics and define the role of each participant in advance.

        This directly raises the issue of financial support. In 2025, interested member states took a political decision to establish the SCO Development Bank, while at the end of June 2026, another round of consultations was held on its establishment and functioning.

        The prospective role of such an institution is primarily associated with projects whose impact extends across several countries: transport and energy infrastructure, industrial chains, digital networks, and logistics centers. Cooperation with existing development institutions, transparent selection criteria, and financial sustainability could expand the available range of project financing instruments.

        The effectiveness of industrial cooperation, in turn, directly depends on how quickly and predictably raw materials, components, and finished products can move. Therefore, the financial and industrial components are closely linked to transport development.

        For Uzbekistan, this factor is particularly important. The lack of direct access to seaports makes logistics one of the key conditions for the competitiveness of national products. The priority is to develop a network of sustainable routes that allows freight flows to be distributed flexibly while maintaining access to various supply destinations.

        The SCO space encompasses East–West and North–South routes, road and railway lines, as well as opportunities for multimodal transportation. For businesses, the efficiency of such a network depends on infrastructure capacity, the consistency of procedures, and the speed of the entire chain — from the sender to the final market.

        Therefore, the development of transport routes is directly linked to the digitalization of processes. The electronic exchange of customs and permitting documents, advance notification of control authorities, interoperability of national information systems, and end-to-end tracking of cargo reduce administrative delays and increase the predictability of transportation.

        The use of accumulated data also opens up additional opportunities for artificial intelligence — forecasting freight flows, optimizing routes, managing warehouse infrastructure, and assessing risks. This requires coordinated approaches to information security and the protection of national digital systems.

        Ultimately, all these instruments serve the development of trade. Industrial cooperation expands the product base, financing ensures the launch of new production capacities, logistics connects businesses with markets, and digital solutions reduce time and administrative costs.

        Additional benefits can be achieved through transparent requirements, mutual recognition of electronic documents, and harmonized procedures. This facilitates access for small and medium-sized enterprises to the markets of SCO countries and creates a more predictable environment for investors. At this level, the advantages of multilateral cooperation are directly reflected in the operations of businesses.

        The international visibility of the region also contributes to its economic promotion. Additional attention to Central Asia during the Summit will be generated by the 6th World Nomad Games. This large-scale event creates a favorable information environment for presenting the region’s investment and export potential, national brands, and business initiatives. For Uzbekistan, this represents an additional opportunity to demonstrate the country’s economic potential to an international audience.

        For Uzbekistan, the value of the SCO lies in the opportunity to complement well-developed bilateral ties with instruments that are particularly effective in a multilateral format. These include projects combining the production capabilities of several countries, shared infrastructure, new transport routes, and financial mechanisms.

        In this context, the Bishkek Summit will become an important stage in the further development of the Organization’s economic agenda. Its practical implementation can expand businesses’ access to markets, investment resources, and logistics opportunities, while simultaneously creating new conditions for industrial cooperation.

Tourism is taking on an increasingly prominent role in cooperation between Uzbekistan and Kyrgyzstan. The geographic proximity of the two countries, the intensity of mutual travel, and growing interest in Central Asia are creating the conditions for a shift from traditional tourism exchange toward closer cooperation — developing cross-border tourism, creating combined travel routes, and jointly promoting the region on the international market.

Over the first seven months of 2026, the flow of tourists from Kyrgyzstan has continued to grow, reflecting the expanding scale of tourism ties and the steady development of bilateral cooperation. This positive momentum is laying the groundwork for the next stage — creating conditions that make travel between the neighboring countries easier, while allowing the tourism potential of both states to complement one another.

Major international events are drawing additional attention to Central Asia. In 2026, Bishkek is hosting the Sixth World Nomad Games, giving the region an opportunity to showcase its national culture, traditions, and tourism potential to an international audience.

Against this backdrop, the initiative put forward by President of the Republic of Uzbekistan Shavkat Mirziyoyev to create a "Central Asian Tourism Ring" takes on particular significance. The proposal, unveiled in May 2026 at the annual meeting of the Board of Governors of the Asian Development Bank, envisions a more interconnected tourism space across the region and the creation of routes linking several countries. For Uzbekistan and Kyrgyzstan, this approach opens up further opportunities to develop combined travel itineraries and attract tourists from third countries.

A certain foundation for this has already been laid. The two countries are developing joint tourism products such as "Journeys Along the Silk Road" and "Journeys Through the Natural Landmarks of Uzbekistan and Kyrgyzstan," and are conducting mutual familiarization tours, visits by tourism industry representatives and media, and presentations of regional tourism potential.

At the same time, the further development of combined travel routes depends directly on the ease of movement between the two countries. One option under consideration is introducing an expedited border-crossing mechanism at the "Dustlik" checkpoint in Andijan region and the "Uchkurgan–Kensai" checkpoint in Namangan region. This measure is intended to create more comfortable conditions for tourist groups and to support the development of cross-border routes.

Consideration is also being given to granting international status to a number of other checkpoints. This would expand opportunities for foreign tourists to travel to areas with potential for ecological, health, mountain, and adventure tourism.

Cooperation between Uzbekistan and Kyrgyzstan in tourism is gradually taking on a broader regional dimension as well. The Shanghai Cooperation Organisation has become one of the platforms for this work. In April 2026, a meeting of the heads of tourism administrations of SCO member states held in Bishkek addressed the development of transport logistics, the streamlining of visa regimes, the promotion of joint routes and tours, and the expansion of cooperation between tourism organizations.

Of particular importance is the joint initiative by Uzbekistan and Kyrgyzstan to establish a tourism hub for SCO member states. At the Bishkek meeting, the parties backed further work on the concept and agreed to merge the draft concepts of the "Tourism Hub" and the "SCO Tourism Corridor" into a single, coordinated document. In this way, bilateral cooperation between the two countries is being extended to the level of one of the world's largest organizations.

The prospects of this approach extend beyond mutual travel by residents of Uzbekistan and Kyrgyzstan. The next step could be to more actively attract travelers from third countries by developing combined routes. This direction can be strengthened through joint expeditions by tourism companies, the creation of new cross-border tourism products, and their promotion in foreign markets. This would make travel across Uzbekistan and Kyrgyzstan more diverse while broadening the international audience for both destinations.

Major international events, the development of cross-border routes, and new initiatives within the SCO are creating additional opportunities for further convergence of the tourism spaces of Uzbekistan and Kyrgyzstan. The next step is not simply to increase the number of mutual trips, but to create conditions in which tourists can move more easily between the two countries, combine them in a single journey, and discover different destinations across Central Asia. It is precisely in this that tourism is acquiring the significance of an independent and promising dimension of partnership between the two neighboring states.

This year, the Shanghai Cooperation Organization (SCO) is celebrating its 25th anniversary. Over the past quarter-century, it has undergone a profound institutional transformation – from a mechanism for building cross-border trust within the “Shanghai Five” format to one of the most influential platforms for multilateral cooperation in Eurasia.

Over these years, the SCO has significantly expanded its membership. While in 2001 it was founded by six states (China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan), today the Organization brings together 10 member states, 15 dialogue partners, and 2 observer states.

At the same time, interest in the Organization’s activities continues to grow steadily. According to SCO Secretary-General Nurlan Yermekbayev, approximately 20 countries have expressed interest in joining the structure in one capacity or another.

Uzbekistan, as one of the founding members of the SCO, makes a significant practical contribution to its activities. The country has held the SCO chairmanship four times and successfully hosted the SCO Heads of State Summits in Tashkent (2004, 2010, and 2016) and Samarkand (2022).

At the present stage, Uzbekistan actively participates in shaping the Organization’s current agenda, focusing on security issues, trade and economic cooperation, industrial and technological partnership, cultural and humanitarian ties, and regional connectivity.

Economy and Transport Connectivity

Economic cooperation is one of the key areas of Uzbekistan’s participation in the SCO. For Tashkent, the Organization is of practical interest primarily as an effective platform for expanding trade, attracting investment, developing industrial cooperation, and establishing reliable transport and logistics links.

Uzbekistan’s trade ties with SCO member states have already reached a significant scale. In 2025, the country’s foreign trade turnover amounted to $81.2 billion, an increase of 20.7% over the previous year. China, Russia, and Kazakhstan remain Uzbekistan’s largest trading partners, accounting for around 43% of the country’s total foreign trade turnover.

The SCO’s economic potential is constrained by differences in customs procedures, technical standards, and market-access rules. To remove these barriers, Uzbekistan is calling for the signing of a Trade Facilitation Agreement, the harmonization of customs and technical standards to launch “green corridors,” the development of cross-border e-commerce, the wider use of national currencies in settlements, and the creation of investment mechanisms to provide independent financing for joint projects.

Uzbekistan’s strategic goal is to transition from simple trade to deep industrial cooperation, the production of high-value-added goods, and the integration of national enterprises into global value chains. Significant opportunities in this regard are opened up by cooperation in the energy sector, digitalization, green technologies, and the processing of critical minerals.

A practical continuation of this approach was the initiatives put forward by Uzbekistan at the SCO Summit in Tianjin. These include the establishment of a Regional Centre for Critical Materials and the SCO Energy Consortium, the development of venture mechanisms to support innovative projects, and the formation of a unified electronic portal for direct business contacts and investment attraction.

The deepening of trade and industrial cooperation is directly linked to the development of transport infrastructure. For Uzbekistan, as a landlocked country, expanding the geography of routes is a key condition for sustainable economic growth. The China–Kyrgyzstan–Uzbekistan railway, currently under construction, is of particular importance. In the future, its alignment with the Trans-Afghan Corridor (Termez–Mazar-i-Sharif–Kabul–Peshawar) could create a new transport route connecting China, Central Asia, and South Asia.

Tashkent also supports the concept of establishing a “Single SCO Transport Space” based on the development of new multimodal networks, the digitalization of transport, and the creation of seamless “green corridors.” Expanding access to the markets of China, Russia, the Caspian region countries, Iran, and South Asia creates additional opportunities to diversify foreign trade and strengthen regional connectivity.

Security: From Traditional Threats to a Comprehensive Approach

Alongside economic partnership, cooperation in the field of security remains a top priority for Uzbekistan within the SCO. Over the years of operation within the Organization, an effective system has been established to combat the "three evils" (terrorism, separatism, and extremism), organized crime, and drug trafficking, with the Executive Committee of the SCO Regional Anti-Terrorist Structure (RATS) in Tashkent serving as its key link.

At the same time, the expanding spectrum of challenges and threats brings new tasks to the forefront: ensuring cybersecurity, protecting critical infrastructure, countering the use of information technologies for unlawful purposes, and enhancing preparedness for environmental and technological risks.

In light of these new realities, Uzbekistan actively supports the profound modernization of SCO mechanisms. As part of the institutional reform, the Executive Committee of the RATS is being transformed into the Universal Center for Countering Security Challenges and Threats. The architecture of the updated system will be complemented by the SCO Center for Combating Organized Crime in Bishkek and the SCO Anti-Drug Center in Dushanbe, which will ensure a comprehensive and targeted response to cross-border threats.

Alongside institutional improvement, Uzbekistan promotes substantive initiatives in three main areas.

First, strengthening trust and strategic dialogue. In 2022, the Samarkand Solidarity Initiative for Common Security and Prosperity was put forward; in 2023, a proposal was made to develop the SCO Code of Good-Neighborliness, Trust, and Cross-Border Partnership; and in 2025, Tashkent initiated the adoption of the SCO Declaration on Nuclear Security.

Second, ensuring the security and resilience of the digital space. Uzbekistan advocates for deepening cooperation in cybersecurity and shaping common approaches to new technologies. The implementation of this course is reflected in a consistent chain of initiatives by Tashkent within the SCO framework.

In particular, at the Dushanbe Summit (2021), Uzbekistan put forward an initiative to establish the Expert Forum on Information Security to develop mechanisms for responding to cyber threats and exchanging experience. In 2023, the Uzbek side called for accelerating the adoption of the Agreement on Combating IT Crime and the Program for Countering Internet Extremism, and at the Tianjin Summit (2025), it proposed the creation of the International Expert Council on AI to develop unified standards for ethics, cybersecurity, and protection against deepfakes.

Third, promoting the stability and development of Afghanistan. Tashkent views this country as an integral part of Central Asia and proceeds from the need to combine security issues with the objectives of economic recovery, infrastructure development, and the integration of Kabul into regional ties.

In this regard, Uzbekistan advocates for the resumption of the work of the “SCO–Afghanistan” Contact Group, which could serve as a mechanism for coordinating efforts toward the country’s socio-economic development and its inclusion in major infrastructure projects.

Regional Cooperation: Climate, Food Security, and the Humanitarian Vector

The expanding understanding of security naturally brings to the forefront issues of climate and food resilience. For Central Asia, this agenda is of particular importance: over the past 30 years, the average temperature in the region has risen by 1.5 °C, which is twice the global average rate. According to World Bank estimates, land degradation, melting glaciers, and increasing water scarcity threaten to cause a 30% drop in agricultural yields.

In response to these challenges, Tashkent has built a consistent chain of systemic initiatives within the Organization: from the adoption of the SCO “Green Belt” Program (2019) and the creation of the Climate Council (2022) to the opening of the Center for Innovative Climate Solutions in Tashkent (2024) and the launch of the Regional Platform for Adaptation, Decarbonization, and the Use of Artificial Intelligence for Predicting Environmental Risks (2025).

The climate agenda is directly linked to food security. Here, the common task is the formation of sustainable agri-food systems. In this vein, Tashkent proposes to develop “smart” agriculture, introduce resource- and water-saving technologies, and establish agro-logistics centers and “green corridors” for the cross-border movement of agricultural products. Uzbekistan also proposes to launch the “SCO Food Security Atlas” platform to monitor agricultural potential and promote supply chain resilience.

Practical cooperation within the SCO is not limited to issues of economy, security, and climate; its long-term viability directly depends on the development of direct contacts between the societies of the member states. Uzbekistan consistently advocates for expanding humanitarian dialogue through festivals, forums, and exhibitions that popularize the rich heritage of the SCO “multinational family” and strengthen the foundation of mutual understanding and good-neighborliness.

Tourism serves as one of the practical tools for fostering closer humanitarian ties. In this field, Uzbekistan has proposed a comprehensive set of practical measures, including the launch of the “SCO Tourism and Cultural Capital” program, the creation of “SCO Silk Road” routes, and the establishment of the SCO Medical Tourism Alliance. The implementation of these initiatives helps to form a unified tourist space, attract investment in infrastructure, and stimulate job creation.

Overall, over a quarter-century of participation in the SCO, Uzbekistan has solidified its status as one of the key architects of the regional agenda, helping to transform the Organization from a platform for dialogue into an effective mechanism for practical partnership. The initiatives put forward by Tashkent are practical in nature and invariably align with the core interests of all member states.

Tashkent’s principled position is that the SCO must maintain its openness, avoid political confrontation, and remain guided by the principles of the “Shanghai Spirit.” It is precisely this course that enables the consistent transformation of the Eurasian space into a zone of long-term stability, trust, and sustainable development.

Madina Aripova, Chief Research Fellow at the Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan

Ziyoda Rizaeva, Center for Economic Research and Reforms

The global economy is developing amid the restructuring of global supply chains. At the same time, the role of regional formats capable of creating additional opportunities for trade, investment, and industrial cooperation is increasing.

One such format is the Shanghai Cooperation Organization (SCO), which marks its 25th anniversary in 2026. Over the past quarter-century, the organization has significantly expanded its membership, geographical reach, and areas of cooperation, while accumulating considerable experience in multilateral and economic cooperation and developing substantial resource and transport potential.

For Uzbekistan, cooperation within the SCO is important for expanding trade, investment, industrial, and transport ties.

The Growing Importance of the SCO

Over the past quarter-century, the SCO has undergone substantial institutional development. Established in 2001 by six countries, the organization today comprises 10 member states (Kyrgyzstan, China, Russia, Kazakhstan, Tajikistan, Uzbekistan, India, Pakistan, Iran, and Belarus). India and Pakistan joined the SCO in 2017, Iran became a full member in 2023, and Belarus in 2024. The Organization has 17 partner states, including Azerbaijan, Mongolia, and Afghanistan.

Guided by its fundamental principles, the SCO serves as a reliable guarantor of stability and security in the region, particularly in Central Asia. Amid a rapidly changing international environment and persistent instability, this role of the Organization is becoming increasingly important.

The SCO is neither bloc-based nor confrontational in nature and remains open to cooperation. This clearly demonstrates that its activities are not directed against the interests of other countries or international organizations.

All decisions within the SCO are made by consensus and require the full agreement of all member states. This principle ensures that the interests of every participant are taken into account, guarantees equality among member states, and enhances the Organization’s appeal as a platform for multilateral cooperation.

Today, the SCO member states cover more than 65% of Eurasia’s territory. Their combined population is around 3.4 billion people, or more than 42% of the world’s population. The combined nominal GDP of the SCO countries exceeds $26 trillion, accounting for around one-quarter of the global economy. In purchasing power parity terms, the organization’s member states account for more than one-third of global GDP.

In 2025, the combined economic growth of the SCO countries was around 5%, compared with global growth of 3.4%. The member states differ in terms of economic size, production structure, resource endowment, competitive advantages, and degree of market openness. This diversity creates broad opportunities for specialization, industrial cooperation, and economic complementarity.

The SCO countries possess substantial energy and mineral resources, a developed industrial base, and growing consumer markets. According to calculations based on international energy statistics, the organization’s member states account for around 69% of global coal production and approximately 30% of natural gas production. Their resource endowment and market capacity create favorable conditions for implementing major industrial, energy, and infrastructure projects.

Between 2015 and 2024, intra-SCO trade (exports) increased almost 2.5-fold, from $271 billion to $674 billion. Over the same period, its share in the countries’ combined foreign trade increased from 8.9% to 14.2%.

The expansion of trade ties is being supported by the development of transport routes, digitalization of trade procedures, and the increasingly widespread use of national currencies in mutual settlements.

An important milestone in the SCO’s institutional development was the 2025 Tianjin Summit, where the SCO Development Strategy through 2035 was adopted. The document defined long-term priorities for multilateral cooperation. Of particular importance was the decision to establish the SCO Development Bank, which is expected to expand financing opportunities for regional infrastructure and investment projects.

Uzbekistan and the SCO in the System of Economic Relations

Uzbekistan’s foreign economic relations with the SCO countries have intensified considerably in recent years. According to estimates by the Center for Economic Research and Reforms, between 2017 and 2025, trade turnover increased 3.1-fold, from $12.9 billion to $40.6 billion. Exports grew nearly 1.8-fold, from $5.8 billion to $10.65 billion, while imports increased 4.2-fold, from $7.1 billion to $29.96 billion.

As a result, in 2025 the SCO countries accounted for around half of Uzbekistan’s total foreign trade turnover, including 31.5% of the country’s exports and 63.3% of its imports.

Geographically, the bulk of trade is concentrated in China, Russia, and Kazakhstan. In 2025, Uzbekistan’s trade turnover with China reached $17.2 billion, with Russia $13 billion, and with Kazakhstan $5 billion. Together, these three countries accounted for around 87% of Uzbekistan’s trade with SCO member states.

Trade with India reached $1.3 billion, followed by Kyrgyzstan at $1.2 billion, Belarus at $965 million, Tajikistan at $912 million, Iran at $579 million, and Pakistan at $446 million.

The SCO countries are major markets for Uzbek fruit and vegetables and other food products, textiles, electrical goods, and automotive products.

A significant share of imports from SCO countries consists of machinery and equipment, industrial goods, raw materials, and food products used by Uzbekistan’s domestic market and manufacturing sector.

The existing trade structure demonstrates Uzbekistan’s high level of economic interconnectedness with SCO countries.

Investment and Industrial Cooperation within the SCO

Further development of trade between Uzbekistan and the SCO member states creates a foundation for deeper investment and industrial cooperation. For Uzbekistan, particular interest lies in moving toward joint ventures, localization of technological processes, and the development of industrial cooperation between enterprises across SCO countries.

In 2025, the volume of foreign investment and loans in fixed capital in Uzbekistan amounted to $33.5 billion. Manufacturing accounted for 33.2% of the total, electricity and gas supply for 17.1%, and mining for 11.9%. The structure of investment indicates significant potential for further development of industrial cooperation, joint production, and localization of technological processes.

SCO member states occupy a significant place in Uzbekistan’s investment cooperation. In 2025, investment from the Organization’s member states amounted to $17.5 billion. The largest volumes came from China ($13 billion) and Russia ($2.6 billion). Other partners included Kazakhstan ($870 million), Iran ($265 million), India ($247 million), Kyrgyzstan ($197 million), Tajikistan ($196 million), Belarus ($76.5 million), and Pakistan ($52.5 million).

Facilitating mutual trade, harmonizing standards, developing production and logistics chains, and promoting mutual investment were identified by President of the Republic of Uzbekistan Shavkat Mirziyoyev at the 2025 Tianjin Summit as priority areas of economic cooperation within the SCO. To promote direct business dialogue, the President proposed holding an annual “SCO Invest” Investment Forum.

The initiative received practical follow-up as early as 2026. During Kyrgyzstan’s SCO chairmanship, the SCO Investment and Business Forum was held in Bishkek on June 24–25 with representatives of the organization’s member states. The forum covered investment and trade and economic cooperation, industrial and technological cooperation, the digital economy, artificial intelligence, e-commerce, and new industrialization.

Another area of industrial cooperation involves utilizing the resource potential of SCO countries. Uzbekistan’s initiative to establish an SCO Regional Center for Critical Materials provides for cooperation in modern technologies for the extraction and deep processing of mineral resources. The proposed SCO Energy Consortium is aimed at developing joint energy projects. Uzbekistan has also proposed establishing a network of venture companies and funds to support innovative projects.

For Uzbekistan, these new cooperation formats within the SCO expand opportunities for attracting investment and technology, localizing production, and increasing the output of high-value-added products.

Transport Connectivity and New Routes

Transport cooperation occupies one of the most important places in Uzbekistan’s trade and economic relations with SCO countries. According to estimates by the Center for Transport and Logistics Development Studies, over the past five years the volume of international freight transportation with the organization’s member states increased by 40%, or 9 million tonnes, reaching 33.5 million tonnes in 2025. SCO countries account for around 80% of Uzbekistan’s international freight transportation, with the largest volumes involving Russia, Kazakhstan, China, and Kyrgyzstan. According to Uzbekistan’s Ministry of Transport, freight transportation with SCO countries could reach 47 million tonnes by 2030.

Growing freight flows are increasing the importance of new routes connecting East, Central, and South Asia. The 2025 Tianjin Declaration provides for further cooperation along the North–South and East–West corridors, the establishment and modernization of international transport routes, greater use of the transit potential of SCO member states, and the digitalization of logistics procedures.

One of the most significant projects for Uzbekistan is the China–Kyrgyzstan–Uzbekistan railway, construction of which began in December 2024. The new route is expected to shorten the distance from East Asia toward the Middle East and Southern Europe by around 900 km, while reducing delivery times by 7–8 days. Potential freight volumes are estimated at 12–15 million tonnes per year (Ministry of Transport of Uzbekistan).

Another important route is the Uzbekistan–Afghanistan–Pakistan railway. In July 2025, the parties signed a framework intergovernmental agreement on preparing its feasibility study. Linking the two railway projects would make it possible to create a continuous route from China through Central Asia and Afghanistan to Pakistan and the ports of the Indian Ocean.

Infrastructure projects are complemented by efforts to optimize railway transportation conditions. At Uzbekistan’s initiative, the creation of an SCO Council for the Integration of Railway Networks is being considered, with the aim of reducing physical and administrative barriers and improving the connectivity of member states’ railway systems.

For Uzbekistan, the development of new transport corridors expands access to the markets of Eurasia and South Asia and strengthens the country’s potential as a transit hub between the SCO’s major economic centers.

New Areas of Cooperation

The expansion of economic interaction within the SCO is accompanied by the emergence of new areas for joint work. Scientific and technological cooperation, energy, environmental protection, food security, education, and tourism are already part of the organization’s sectoral cooperation framework, while a number of recent initiatives are aimed at creating practical mechanisms in these areas.

One promising area remains scientific and technological cooperation. At the 2025 Tianjin Summit, Uzbekistan proposed creating an “SCO Network of Innovation and Technology Hubs” to generate new ideas and facilitate technology transfer. Artificial intelligence, big data, robotics, bioengineering, and alternative energy were identified among the priority areas.

Considerable potential is concentrated in energy and the green transition. According to China’s National Energy Administration, by the end of 2024 the total installed renewable energy capacity in SCO countries had reached 2.31 billion kW, increasing 14.5-fold compared with 2001 and accounting for around half of the global total. In 2025, SCO countries adopted a Statement on Cooperation in the Field of Green Industry. Uzbekistan also proposed establishing an SCO Energy Consortium and a Regional Platform on climate adaptation, decarbonization, and the use of artificial intelligence to forecast environmental risks.

Environmental cooperation is particularly important for Central Asia. Since 2013, the Central Asian Research Center for Ecology and Environment has been operating in Tashkent as part of cooperation between China and the countries of the region. More than 80 monitoring stations have been deployed in the Aral Sea region, while joint research covers ecosystem and water-resource conditions, salt and dust storms, and the restoration of saline lands.

Food security is another important area. The SCO has established a mechanism for meetings of agriculture ministers, while cooperation covers agricultural technologies, scientific research, breeding and seed production, resource-efficient technologies, and agricultural trade. For Uzbekistan, expanding this cooperation is important for improving agricultural productivity and gaining access to the large food markets of SCO member states.

Humanitarian cooperation encompasses education, science, and culture. Uzbekistan has proposed creating an online campus within the “SCO University” partner network, holding annual competitions and Olympiads for students and young professionals in innovative fields, and establishing a Great Silk Road Cultural Dialogue.

At the Tianjin Summit, Uzbekistan also proposed exploring the launch of a “Tourism Corridor.” In 2026, the initiative received practical follow-up. At a meeting of the heads of tourism authorities of SCO member states in Bishkek, the parties discussed the development of tourism corridors and joint routes, including attracting visitors from third countries. In April, at a meeting of SCO health ministries, particular attention was also given to Uzbekistan’s proposed concept for a Medical Tourism Alliance and mechanisms for its implementation.

Conclusion

As the SCO marks its 25th anniversary, the organization is entering a new stage of institutional development of economic cooperation. The SCO Development Strategy through 2035 has been adopted, along with the decision to establish the SCO Development Bank; discussions on its financial and governance model are ongoing, and a new strategy for the SCO Interbank Consortium for 2027–2031 is being prepared. At the same time, transport projects are advancing and sectoral cooperation is expanding in energy, industry, technology, agriculture, and tourism.

The next stage will largely depend on the ability of existing and emerging mechanisms to ensure the implementation of multilateral projects. Establishing the SCO’s own project-financing instrument is becoming particularly important. Further progress is also required in the digitalization of trade and customs procedures, settlements in national currencies, integration of transport routes, and convergence of conditions for doing business.

For Uzbekistan, further deepening economic cooperation within the SCO is primarily associated with expanding technological and investment cooperation, industrial partnerships, deeper processing of raw materials, and access to new markets. The wide range of partners within the organization enables the country to diversify its sources of investment, production linkages, and export destinations.

It is the practical implementation of multilateral mechanisms that will determine the next stage of economic cooperation within the SCO. In this context, the anniversary Bishkek Summit, to be held under the motto “25 Years of the SCO: Together Towards Sustainable Peace, Development and Prosperity,” will become an important milestone in the further institutional development of cooperation. The organization approaches the summit with a number of decisions already adopted and initiatives that moved into the practical development stage in 2026. Their implementation will demonstrate how consistently the SCO can transform agreements into joint economic projects and sustainable mechanisms of cooperation.

As Serbia’s economy continues to develop and demand for skilled workers grows across a number of sectors, an emerging model of cooperation with Uzbekistan could offer a solution built on legality, orderly mobility and institutional oversight by both countries.

This is not simply about sending workers from one country to another. The new approach is based on identifying the specific needs of the Serbian labour market, selecting and preparing the required specialists in Uzbekistan, directly involving employers in the process, and ensuring that employment takes place under conditions that safeguard workers’ rights.

In this context, a new and promising dimension is emerging in relations between Tashkent and Belgrade — a partnership in orderly labour mobility and human capital.

From political trust to a practical mechanism

The political foundation for this process was laid in October 2025.

The official visit of President of the Republic of Serbia Aleksandar Vučić to Uzbekistan marked a historic milestone in relations between the two countries. Following talks between Presidents Shavkat Mirziyoyev and Aleksandar Vučić, a Joint Declaration was adopted and a package of agreements covering the economy, investment, education, technology, tourism and other areas was signed.

Among them was a Memorandum of Understanding on cooperation in the field of labour migration.

Orderly labour migration thus became one of the practical areas of high-level political dialogue between the two countries.

Seven months later, those political agreements began to take concrete institutional form.

On 18–19 May 2026, Tashkent hosted the International Migration Forum, attended by a Serbian delegation headed by Minister of Labour, Employment, Veteran and Social Affairs Milica Đurđević Stamenkovski.

One fact is particularly significant for the Serbian audience: according to the official information of the Government of Serbia, this is the first agreement of its kind on labour mobility that Serbia has begun negotiating with a foreign country. Uzbekistan was chosen as its first partner.

Legal, safe and regulated mobility

Serbia’s approach to this cooperation was clearly articulated by Minister Milica Đurđević Stamenkovski during her visit to Tashkent.

According to the Minister, the future agreement is intended to establish an effective mechanism ensuring that labour mobility takes place exclusively within a legal, safe and regulated framework, based on clear rules and full institutional oversight by the state.

As she stressed, responsible states do not leave migration flows unmanaged; rather, they manage them in the interests of their citizens, their economies and national security.

This position is closely aligned with the new model that Uzbekistan has been developing in recent years.

For Uzbekistan, the objective is likewise no longer simply to direct a citizen towards an available job abroad. The new model begins by identifying an employer’s needs, selecting suitable candidates, providing professional and language training where necessary, establishing employment conditions in advance and only then facilitating employment through legal and organised channels.

Cooperation is not starting from scratch

Uzbekistan and Serbia already have practical experience of cooperation in the employment sector.

According to Uzbekistan’s Migration Agency, 435 Uzbek citizens in 2022, 135 in 2024 and 215 in 2025 were sent to Serbia through organised channels for temporary employment in agriculture. During the first seven months of 2026, another nine citizens began working in Serbia through the same mechanism.

Today, three cooperation agreements are in place between Uzbekistan’s Migration Agency and Serbian companies for the recruitment of Uzbek citizens for temporary employment.

In 2026, cooperation began expanding beyond agriculture.

In February, Serbian partners reported demand for approximately 200 seasonal workers in selected sectors of the economy. In June, a Serbian recruitment company identified a need for another 50 specialists for façade works.

The clearest practical example of the emerging model, however, came in July.

A Serbian employer selects workers directly in Uzbekistan

From 6 to 10 July 2026, Serbian company M Enterijer Gradnja doo Beograd–Voždovac conducted direct recruitment in Uzbekistan for 120 positions in the construction sector.

The vacancies included 50 reinforcement workers, 50 carpenters, five civil engineers, five crane operators and ten special-equipment operators.

Monthly salaries were set at €1,000–€1,500. The employer covers the costs of visas and work permits, transportation, accommodation, two meals a day and medical insurance.

One hundred Uzbek citizens expressed interest in the vacancies. Of these, 74 were admitted to interviews and practical assessments. Following the selection process, 43 specialists successfully passed the recruitment process, and their documents were submitted to the Serbian employer for further processing.

This experience illustrates the essence of the emerging model.

Rather than assessing candidates solely on the basis of their CVs, the Serbian employer can evaluate their professional skills directly in Uzbekistan. Candidates, meanwhile, know before travelling to Serbia where they will work, what their duties will be, how much they will earn and what employment and living conditions will be provided.

This reduces uncertainty for both sides.

Training first, employment second

Another important change in Uzbekistan’s approach to labour mobility is that a foreign employer’s request is no longer viewed merely as a vacancy, but as a specific requirement for workforce preparation.

In May 2026, the INTIL International Centre for Foreign Language and Vocational Training opened in Tashkent. At its initial stage, the centre provides training in eight foreign languages and 12 professions, hosts international examinations and offers advisory services related to visas and documentation.

In the future, this infrastructure can also be used to prepare specialists specifically for the needs of Serbian companies.

For example, if a Serbian employer requires a certain number of welders, construction specialists, drivers or workers in other occupations, candidates can be selected in Uzbekistan, their skills upgraded to meet the employer’s requirements, and initial language training provided before departure.

This aspect is also important to the Serbian side.

Milica Đurđević Stamenkovski positively assessed Uzbekistan’s readiness to prepare citizens before they travel to Serbia for temporary employment, including by introducing them to the Serbian language. Such preparation could help workers adapt more quickly to both their workplace and everyday life in Serbia.

The prospective model of cooperation can therefore be expressed in a simple formula:

Serbia identifies the demand — Uzbekistan selects and prepares the workforce — the employer assesses their qualifications — and state institutions ensure that the process remains legal and transparent.

People at the centre

Any labour mobility model can only be sustainable if people remain at its centre.

For Uzbekistan, protecting the labour rights of citizens temporarily employed abroad, ensuring the timely payment of wages, decent living conditions and access to legal protection are therefore just as important as securing the job itself.

Dialogue with Serbia in this area is not new.

As early as 2022, an Uzbek delegation held talks with Serbia’s competent labour authorities, the Chamber of Commerce and Industry, representatives of the agriculture, construction and hospitality sectors, employers, and the International Organization for Migration’s office in Serbia. Direct meetings were also held with Uzbek citizens working in Serbia to assess their employment and living conditions.

There is now an opportunity to transform this experience into a permanent institutional mechanism between the two states.

Here again, the two sides share a common principle: labour mobility should be legal, safe and orderly.

Another step towards greater mobility

Practical steps are also being taken to facilitate movement between the two countries.

Since late April 2026, Serbia has been issuing Uzbek citizens category “C” electronic visas, allowing a single entry for stays of up to 30 days.

Looking ahead, there is scope to explore more convenient mechanisms for seasonal employment, simplify visa procedures for other categories of work, and strengthen direct cooperation between Uzbekistan’s Migration Agency and Serbia’s National Employment Service in the field of organised employment.

Importantly, this relationship is not one-way.

Serbian citizens are also legally employed in Uzbekistan. In particular, relevant work authorisations were issued to 53 Serbian citizens in 2022, 48 in 2023 and 32 in 2024.

The issue, therefore, is much broader than “sending workers from Uzbekistan to Serbia”. It is about orderly labour mobility between two countries.

Why Uzbekistan?

For a Serbian audience, this is a natural question.

The Government of Serbia itself has addressed it: Uzbekistan’s selection as Serbia’s first foreign partner for such a labour mobility agreement was linked to the country’s dynamic economic development and the rapid deepening of bilateral relations towards a strategic partnership.

Uzbekistan, for its part, has a large and young workforce while simultaneously developing a system for preparing citizens according to the specific requirements of international labour markets.

This is where the interests of the two countries complement one another: Serbia’s demand for workers and Uzbekistan’s capacity to select and prepare them.

In the future, this also creates an opportunity to expand cooperation beyond seasonal agriculture and construction. Based on the actual needs of the Serbian economy, specialists could be trained specifically for other sectors as well.

A new bridge between Tashkent and Belgrade

During the first summit between Presidents Shavkat Mirziyoyev and Aleksandar Vučić in October 2025, the importance of developing new transport corridors between Central Asia and the Balkans was highlighted.

Yet one of the most important bridges between the two regions may be built not only through railways or highways, but through human capital.

For Serbia, orderly labour mobility offers an opportunity to attract pre-selected and trained workers who match the real needs of its economy through transparent and legal mechanisms.

For Uzbekistan, it offers an opportunity to open new legal labour markets for its citizens, strengthen their professional skills and earning potential, while ensuring state-level protection of their rights and interests abroad.

For this reason, it would be too narrow to view the process now unfolding between Tashkent and Belgrade simply as another labour migration project.

Its potential is considerably broader: to build a long-term partnership model based on targeted workforce preparation, direct employer participation, legal and safe labour mobility, and investment in human capital.

Speaking in Tashkent, Serbia’s Minister of Labour, Employment, Veteran and Social Affairs Milica Đurđević Stamenkovski said that relations between Uzbekistan and Serbia were entering a “new historical phase”, with the goal of elevating ties between the two friendly countries to the level of a strategic partnership.

The practical steps taken in the field of labour mobility in recent months show that this vision is already acquiring tangible substance.

High-level political trust is in place. The legal framework is taking shape. Direct links between employers and potential employees have already begun.

The task now is to transform this opportunity into a sustainable system that serves the economies of both Serbia and Uzbekistan — and, above all, the people of both countries.

Cooperation between Uzbekistan and Serbia in digital technologies, IT services exports, startups, artificial intelligence and innovation entered a new phase in the second half of 2025.

A major milestone was the official visit of Serbian President Aleksandar Vučić to Uzbekistan on October 28, 2025, coinciding with the 30th anniversary of diplomatic relations between the two countries. During the first full-scale summit between the two heads of state, information technology and digitalization were identified among the priority areas for bilateral cooperation, alongside mechanical engineering, pharmaceuticals, the chemical industry, agriculture and tourism.

The two sides also signed a dedicated agreement on cooperation in engineering, advanced technologies, artificial intelligence and related fields, creating an institutional foundation for deeper technology partnerships.

From political agreements to technology projects

The high-level political dialogue was followed immediately by discussions focused on practical technology cooperation. On October 29, 2025, President Vučić visited IT Park Uzbekistan, where the Serbian delegation was introduced to Uzbekistan’s growing technology ecosystem, export-oriented IT companies and locally developed digital solutions.

The delegation was presented with solutions developed by companies and organizations including UniconSoft, Didox/Venkon, Kpi.com and UzSpace, as well as UZINFOCOM products such as Palm ID, HRM.argos.uz, uGaz and DMed. The discussions covered the potential establishment of a joint IT enterprise in Serbia, the deployment of Palm ID technology, and the development of a venture mechanism to support startups from both countries.

Towards the end of 2025, IT Park also promoted the Trucking Outsourcing Weekend with IT Park format in Belgrade, targeting logistics and outsourcing companies. The initiative was designed to demonstrate how Serbian and international businesses could leverage Uzbekistan to build operational teams, access skilled professionals, optimize costs and scale their international operations.

Moving towards a practical cooperation model

In 2026, the two sides continued efforts to translate the agreements reached in 2025 into practical business mechanisms.

At a business forum held in February with the participation of IT Park, government representatives and more than 80 entrepreneurs, discussions focused on IT outsourcing, business process outsourcing (BPO), knowledge process outsourcing (KPO), joint ventures, data centers and venture capital mechanisms.

One of the most promising concepts discussed was a “Serbia as front office, Uzbekistan as back office and delivery hub” model.

The concept is based on complementary strengths rather than competition between the two markets. Serbia offers geographic proximity to European and Western Balkan markets, experience in serving international clients, established business networks and a developed innovation ecosystem. Uzbekistan, meanwhile, can provide scalable technical and operational teams, competitive operating costs, a growing talent pool and a platform for expansion into Central Asia.

The value of this model lies in combining Serbia’s capabilities in client relations, business development and international networks with Uzbekistan’s strengths in technical delivery, workforce scalability and operational execution.

At a follow-up meeting in February 2026, Uzbekistan’s Minister of Digital Technologies Sherzod Shermatov and Serbia’s Deputy Prime Minister and Minister of Economy Adriana Mesarović discussed in detail cooperation in the IT industry, artificial intelligence, data centers, digitalization of public administration, and cybersecurity. The Serbian delegation also visited IT Park Uzbekistan, UzSOC, and UZINFOCOM, where it reviewed cyber incident response mechanisms, as well as the infrastructure supporting government information systems and data centers. In turn, the Serbian side shared its experience in developing supercomputing infrastructure and data centers.

Сooperation indicators

Meanwhile, cooperation between Uzbekistan and Serbia in the export of IT services is demonstrating a steady positive trend. In 2024, two IT Park Uzbekistan resident companies exported services to the Serbian market, with a total export volume of approximately $42,000.

By the end of the first nine months of 2025, the number of IT Park residents working with the Serbian market had tripled to six companies. Concurrently, the total export volume exceeded $72,000, indicating a consistent expansion of Uzbek IT companies' presence in this market.

This positive trend continued into 2026. Notably, a resident company with a Serbian founder was registered with IT Park, providing further evidence of Serbian business interest in the opportunities within Uzbekistan's tech ecosystem. To date, the cumulative export volume of services to Serbia has reached approximately $130,000.

Thus, in a relatively short period, this cooperation has evolved from isolated export contracts to a more sustained interaction between companies from both countries. The growth in the number of exporters, the increase in the volume of services provided, and the registration of a resident with Serbian ownership create a favorable foundation for the further development of partnerships in IT outsourcing, BPO/KPO, digital solutions, startups, and joint technology projects. This positions Serbia not merely as another potential destination for Uzbek technology exports, but as a partner with substantial experience in building and selling internationally competitive digital services.

For Uzbekistan, closer cooperation with Serbia could generate several strategic benefits.

First, Serbia can serve as a platform for Uzbek technology companies to gain experience working with European customers, adapt their products to international requirements and build stronger overseas sales channels.

Second, Serbia’s established startup and acceleration infrastructure can help Uzbek startups improve investment readiness, connect with international investors and expand into new markets.

Third, cooperation in logistics technology, GameDev, GovTech, artificial intelligence and cybersecurity could support Uzbekistan’s transition towards higher-value technology and knowledge-based services exports.

For Serbian companies, Uzbekistan represents both a rapidly growing domestic market of around 38 million people and a gateway to the broader Central Asian region.

Serbian technology and service companies can use Uzbekistan to establish delivery centers and BPO/KPO operations, form joint development teams, identify technology partners and test products before expanding them into neighboring regional markets.

Uzbekistan also offers a growing pool of technical talent, an increasingly dynamic startup ecosystem, support mechanisms for technology companies and rising demand for digital solutions across both the public and private sectors.