Historical Background

The history of Uzbek - Finnish relations dates back to the early 1990s, when Finland became one of the first countries to recognize the independence of the Republic of Uzbekistan - on 30 December 1991. Just two months later, on 26 February 1992, diplomatic relations were officially established, marking the beginning of a new chapter based on mutual respect, trust, and a shared commitment to technological progress.

The first high-level visits in 1992 laid the foundation for political dialogue. During that year, Uzbekistan took part in the signing ceremonies of the OSCE Helsinki Final Act and the Paris Charter. In October of the same year, Finnish President Mauno Koivisto paid an official visit to Tashkent, further consolidating the partnership. Since then, cooperation between the two countries has developed steadily across political and economic spheres.

Legal and Institutional Framework

Today, the legal framework governing Uzbek-Finnish relations comprises eight active documents, including two interstate and six intergovernmental agreements. These include the 1992 Agreements on Mutual Protection of Investments and on Trade, Economic, and Technological Cooperation, as well as treaties on air and road transport (1996 and 1997) and agreements on avoiding double taxation and on customs cooperation.

New initiatives reflecting the modern stage of partnership are under consideration - such as a draft agreement on visa exemption for holders of diplomatic passports, a memorandum on cooperation in environmental protection, and a protocol on consultations between the foreign ministries.

Cooperation Priorities: Technology, Ecology, and Innovation

Finland, recognized globally as a leader in innovation, sustainable development, and green technologies, serves as a valuable model for Uzbekistan in its transition toward a digital and energy-efficient economy.

In 2017, a business delegation of nine Finnish companies specializing in engineering, agribusiness, telecommunications, and logistics visited Uzbekistan to participate in the AgroWorld Uzbekistan international exhibition. This visit gave new impetus to direct business-to-business engagement.

In April 2019, Tashkent hosted a delegation led by Mikko Koiranen, Deputy State Secretary of Finland for Foreign Economic Relations. The delegation included 29 representatives from leading companies and organizations - such as Nokia Siemens Networks, ABB, Wärtsilä, Uponor Infra, Tikkurila, ISKU, and Airbus Defense and Space. Discussions focused on implementing Finnish technologies in Uzbekistan, joint energy and raw material processing projects, and opportunities in smart cities and water management.

Later, in November 2019, Antti Koskelainen from the Finnish export credit agency Finnvera visited Tashkent, marking an important step toward deeper financial and investment cooperation. Meetings with the Ministry of Investment, Industry and Trade, the Ministry of Finance, and the Agency for State Asset Management addressed mechanisms for crediting and insuring Finnish export operations in Uzbekistan.

Trade: A Threefold Growth in One Year

Economic cooperation between Uzbekistan and Finland continues to expand. The two countries enjoy Most-Favored-Nation trade status, and regular meetings of the Joint Intergovernmental Commission on Trade, Economic, and Scientific-Technical Cooperation (five sessions to date, the latest held in Tashkent in February 2023) ensure a dynamic dialogue.

Trade turnover has shown remarkable growth in recent years: from USD 48.45 million in 2020 to USD 151.7 million in 2024 - an increase of over threefold. This upward trend reflects intensified business ties and growing interest among Finnish companies in the Uzbek market.

Investment and Business Cooperation

Finland is viewed in Uzbekistan not only as a trading partner but also as a source of innovation and investment. Currently, 14 enterprises with Finnish capital operate in Uzbekistan - four joint ventures and ten with 100% foreign ownership - active in sectors such as electronics, software, energy, agriculture, food processing, chemicals, and telecommunications equipment.

Finnish businesses are showing strong interest in renewable energy, waste recycling, eco-construction, water management, and sustainable agriculture. Uzbekistan, in turn, offers attractive conditions for investors - tax incentives, developed industrial infrastructure, and access to a 75-million-strong Central Asian market.

Finland’s Economic Potential: Opportunities for Partnership

Finland is one of Europe’s most advanced and innovative economies, known for its high living standards, sound macroeconomics, and strong industrial base. In 2024, its GDP exceeded USD 320 billion, with GDP per capita around USD 58,000. The economy is well-balanced, with services accounting for over 70%, industry 27%, and agriculture 2.5%. Inflation remains one of the lowest in Europe - around 3% - ensuring a stable and predictable business environment.

For Uzbekistan, cooperation with Finland opens wide-ranging opportunities for industrial, investment, and technological partnership, including:

• Energy: joint projects in renewable energy, smart grids, and energy storage; development of solar panel and wind equipment manufacturing.
• Water and Environment: Finnish expertise in water purification, waste processing, and efficient water management, particularly relevant for agriculture and urban infrastructure.
• Engineering and Electronics: creation of joint ventures in industrial equipment, automation systems, and telecommunications.
• Construction and Green Materials: Finnish participation in energy-efficient building projects, production of eco-friendly insulation and finishing materials, and smart home systems.
• Education and Science: joint engineering and IT education programs, establishment of research laboratories, and introduction of dual education models based on Finnish experience.
• Agro-Industry: cooperation in precision farming, agricultural digitalization, and production of eco-friendly export-oriented goods.

Finland’s experience in sustainable development and digital transformation makes it a strategic partner for Uzbekistan’s “green economy” agenda and industrial modernization. At the same time, Uzbekistan - with its abundant natural resources, young workforce, and expanding domestic market - offers Finnish companies favorable conditions for localization and regional expansion.

A Look Ahead

The partnership between Uzbekistan and Finland goes beyond traditional economic cooperation. It stands as an example of how innovation and sustainability can form the foundation of long-term, mutually beneficial relations. Joint projects in digitalization, green energy, and education are paving new avenues for the exchange of expertise, technologies, and investments.

Finland regards Uzbekistan as a reliable partner in Central Asia, while Uzbekistan views Finland as a strategic ally in advancing its “smart growth” model and building a knowledge-based economy.

The synergy between Finland’s pragmatic northern experience and Uzbekistan’s dynamic eastern development creates a powerful foundation for further strengthening bilateral relations - grounded in trust, innovation, and mutual respect.

The UN General Assembly adopted by consensus, without a vote, the resolution Peaceful Settlement of Border Disputes, introduced by Kyrgyzstan, Tajikistan, and Uzbekistan and co-sponsored by 40 states. Akramjon Nematov, First Deputy Director of the Institute for Strategic and Regional Studies under the President of Uzbekistan, commented to IA Dunyo on the significance of the adopted document in the context of changing perceptions of our region on the international stage.

- This is truly a historic event of fundamental importance both for Central Asia and for the entire contemporary international practice. The fact that the resolution was adopted unanimously, without a formal vote, testifies to the unconditional support for and high level of trust in our region on the part of the international community. I would especially emphasize that dozens of countries acted as co-authors of the document, but the key initiators, acting in solidarity and on equal terms, were Kyrgyzstan, Tajikistan, and Uzbekistan.

The document is devoted to a topic that today remains one of the most difficult and painful on the global agenda – the peaceful delimitation and formalization of state borders. At a time when geopolitical fractures are deepening across the planet, trust is declining, and there is a dangerous rollback toward forceful methods of resolving disputes, the states of Central Asia have demonstrated high political maturity and responsibility.

In practice, we have proved to the entire world that direct, honest, and respectful dialogue is the only effective way to untangle the most complex knots of contradictions that remained unresolved since the collapse of the USSR. Central Asia is finally moving away from its former stereotypical image as a “zone of latent risks and border conflicts.” Today, our region is acting as a mature and independent subject of international politics, capable of ensuring stability in our common home through its own efforts and of shaping exemplary peaceful practices that are in demand on a global scale.

— Bringing this initiative to the UN level is a serious step. What strategic and legal consequences does it entail for the initiating states?

— Bringing the Central Asian case to the universal UN platform is important because it consolidates the results we have achieved and gives the processes of regional rapprochement a stable and irreversible character.

By registering these steps within the international legal framework, the states of the region publicly confirm their mutual commitments to follow the course of good-neighborliness. This places a high level of responsibility on all parties before the international community. Thus, strong political and legal guarantees of stability are being created, and the risks of any future revision of the agreements are being radically reduced.

This breakthrough became possible thanks to the firm political will and foresight of the leaders of all Central Asian states, who were able to place the long-term interests of stability and prosperity of our peoples above current disagreements. If we analyze the origins of this process, the most important role here was played by the open and pragmatic foreign policy course of Uzbekistan proclaimed by President Shavkat Mirziyoyev in 2017. This strategy was initially aimed at turning Central Asia into a space of trust.

What is fundamental is that this approach was not imposed from above as someone’s doctrine, but found a sincere and active response among our neighbors. The current success is precisely the result of joint work and inclusive regional synergy. The initiatives of Tashkent were supported, substantively supplemented, and jointly implemented together with Bishkek and Dushanbe. The signing by the leaders of the three countries of the agreement on the junction point of state borders and the opening of the “Stele of Friendship” became a logical outcome of this large-scale joint work, where the contribution of each side is equally valuable

- Akramjon Ilkhamovich, the political will of the leaders has given a powerful impulse, but peace must also be durable in practice. What economic prospects are opening up for the region, and how is the very model of ensuring security at the borders changing?

- Today we are witnessing a conceptual shift in approaches to regional security: the previous paradigm of rigid restrictions, fences, and barriers in border areas is being replaced by a modern security model based on joint economic development and the formation of deep interdependence. Security in the region is now measured not by the height of dividing barriers, but by the depth and scale of joint projects.

New round-the-clock border checkpoints are opening one after another, which has greatly simplified the movement of people and caused a colossal tourism boom. An illustrative fact: neighboring states now account for more than 60% of all tourists visiting Uzbekistan, which amounts to about 7 million people annually.

The economic framework of stability lies in the fact that we are moving toward major joint infrastructure projects. Trade and industrial zones and logistics centers are being built in border areas, a vivid example of which is the International Trade and Economic Park “Dostuk”. Moreover, we are jointly building the strategic railway China–Kyrgyzstan–Uzbekistan and launching projects for the construction of major hydroelectric power plants such as Kambarata HPP-1 and Yavan HPP. What until recently seemed like a distant, almost unattainable dream is today being realized through our common efforts.

All this opens colossal prospects. Central Asia is turning into a single, integral, and stable macro-region. Today our population amounts to about 85 million people. Such a demographic scale has never existed in our history before. But the most important thing is the absolute, practically one hundred percent literacy of this population. The presence of such an impressive body of educated, qualified intellectual capital makes the region a powerful asset for attracting high technologies, major investments, and transforming Central Asia into a key transit and industrial hub for the whole of Eurasia.

- For this complex process to develop progressively, agreements at the highest level must be supported by society. What role do institutions of people’s diplomacy and dialogue platforms on the ground play here?

- You are absolutely right: interstate agreements will be viable only when they possess a developed social base and take root at the level of civil society. Look at how actively dialogue through people’s diplomacy is developing today: regular forums of civil society and women leaders of our countries are being held, large-scale meetings of the creative and scientific intelligentsia are taking place, and living human ties are being restored.

The expert community plays an enormous role in this architecture. It is precisely for this purpose that new inclusive dialogue platforms are being created, and one of the key among them is the Fergana Peace Forum, which we are actively developing in close partnership with our neighbors. We are convinced that the Fergana Forum should become a permanent platform for cooperation in the Fergana Valley. This is a space where analysts, representatives of government bodies, entrepreneurs, and local communities of Uzbekistan, Kyrgyzstan, and Tajikistan conduct direct and transparent dialogue. Coordinated approaches to complex cross-border challenges are developed here — issues of joint water use, ecology, climate change, and the development of border territories. This makes it possible to transfer potential points of friction into the sphere of practical interaction.

And, of course, systematic work with youth occupies a special, strategic place, because it is the new generation that will have to preserve and develop the conflict-free space that is being laid today. Continuing the logic of the Fergana Peace Forum, already in June, within the framework of the “Youth Month,” we plan to hold a large-scale International Youth Seminar on Peacebuilding in Fergana under the auspices of the UN and the OSCE.

Active youth from all over Central Asia will take part in this three-day event, but the main emphasis is on young people from the border regions of our three countries. Our task is to strengthen youth ties on the ground, teach them to find a common language, jointly implement projects, and deeply support the continuity of the culture of peaceful dialogue.

In conclusion, it can be said that by adopting this resolution, the world recognized that the joint experience of compromises in Central Asia is highly in demand at the global level as a viable matrix of preventive diplomacy that can and should be studied and scaled up. Through concrete action, our region has proved its ability to independently generate stability and bear joint responsibility for a common prosperous future.

IA Dunyo

There are about a thousand manufacturing enterprises operating in the electrical engineering sector of Uzbekistan, most of them small, producing over two thousand types of products. Almost all enterprises in the industry are privately owned. The total number of people employed in the industry exceeds 35,000.

The 76 largest enterprises in the industry, which produce over 90% of all electrical engineering products, are members of the Association of Electrical Engineering Manufacturers (UzEltechSanoat). Of these, 18 enterprises manufacture electrical wires and cables, 27 enterprises manufacture household appliances, and 32 enterprises manufacture power transformers and other electrical products.

The Development Strategy of New Uzbekistan for 2022-2026 aimed to increase industrial production by 1.4 times by 2026, including doubling the production of high value-added products in the electrical engineering industry and tripling exports.

The Uzbekistan-2030 Strategy, adopted in September 2023, will ensure the achievement of all the goals outlined in the Development Strategy of New Uzbekistan. It also sets the task of increasing copper processing in the electrical engineering industry to 300,000 tons per year and raising the localization level of manufactured products to an average of 65%.

Therefore, Uzbekistan pays special attention to the development of technologically advanced industries, including electrical engineering, and provides state support.

Over the past seven years, the President of Uzbekistan has adopted several legislative acts providing customs and tax benefits to enterprises in the electrical engineering industry, as well as subsidies to cover transportation and other expenses.

Specifically, until January 1, 2027, enterprises in the electrical engineering industry have received a 50% reduction in profit and property taxes. Additionally, benefits for exemption from customs duties on imported raw materials, components, and equipment for their own production needs have been extended.

Furthermore, several programs have been approved for the implementation of investment projects in the electrical engineering industry, focusing on technical and technological upgrades of existing facilities and the creation of new production lines.

Due to these measures, over the past 7 years, the volume of attracted investments in the industry has amounted to $935 million, of which about $400 million are foreign direct investments.

Additionally, more than 260 new investment projects worth over $800 million have been launched, including 50 cable production projects worth $120 million, 115 household appliance projects worth $380 million, 40 power equipment projects worth $60 million, and 58 other electrical engineering projects worth $250 million.

As a result, over 13,000 new jobs have been created, bringing the total number of jobs in the industry to 35,000.

As a result of implementing investment projects for modernizing and creating new production facilities, the production of new types of electrical engineering products has been mastered, particularly household appliances (washing machines, electric stoves, vacuum cleaners, hoods, water heaters, new models of refrigerators and washing machines under the Samsung brand, SMART HD TVs, built-in hobs and gas stoves, etc.); industrial air conditioners; new types of electrical cables (high and low voltage, used in solar energy systems, household appliances, as well as self-supporting insulated cables); dry transformers; electronics (monoblocks, SIM cards, electronic boards for household appliances); smart meters for electricity, gas, and water consumption; parts for solar panels and renewable energy stations; elevators and escalators; water pumps, etc.

Overall, from 2017 to 2023, the production volume of the electrical engineering industry increased 7.1 times to $1.98 billion, including a 5.5-fold increase in wires, cables, and copper products to $792 million; an 8.2-fold increase in household appliances to $633 million; and a 9.3-fold increase in power and technical equipment to $567 million.

The contribution of the electrical engineering industry to the development of the economy is also growing, and although the share of the industry's value added in the economy is still less than 1%, it has grown 1.5 times in recent years.

The growth in the production of electrical engineering products has contributed to an increase in export volumes, which have grown 5.5 times to $1047 million over the specified period, including a 4-fold increase in wires, cables, and copper products to $576 million; a more than 10-fold increase in household appliances to $214 million; and a 12-fold increase in power equipment and other products to $257 million.

It should be noted that the significant growth (more than 10 times) in the export of household appliances occurred due to the creation of new production facilities in Uzbekistan by Artel Electronics. In particular, the export volume of refrigerators increased 15 times to $58 million, televisions 6 times to $52 million, electric stoves 4.5 times to $40 million, washing machines 5 times to $20 million, air conditioners 4 times to $15 million, etc.

Moreover, not only the geography of export countries has expanded, but also the range of electrical engineering products supplied to foreign markets. Currently, about 200 types of various electrical engineering products are exported to almost 70 countries. The number of exporting enterprises in the electrical engineering industry has grown to 100.

In January 2024, a Presidential Decree "On Additional Measures for Further Increasing the Production and Export Potential of the Electrical Engineering Industry" was adopted, outlining target indicators for the industry's development in the coming years.

Specifically, in 2024, the plan is to increase the volume of production by almost 30% to $2.6 billion, exports by 43% to $1.5 billion, and the volume of copper processing into finished products to 140,000 tons. In 2025, the goal is to increase production to $3.2 billion, exports to $2.0 billion, and copper processing to 160,000 tons.

To achieve these targets, the Program for Creating New Production Capacities and Diversifying Production in the Electrical Engineering Industry in 2024-2026 and Beyond has been approved. The program aims to implement a total of 294 investment projects worth over $4 billion in the coming years.

In conclusion, it should be noted that the necessary conditions have been created in Uzbekistan for enterprises in the electrical engineering industry to increase production volumes and expand the supply of their products to both domestic and foreign markets.

Therefore, goals have been set to increase exports not only to traditional but also to new markets. In particular, there are plans to increase the export of electrical engineering products to European markets, considering the GSP+ preferential trade regime granted to Uzbekistan, as well as to South Asian and Middle Eastern countries.

Yuri Kutbitdinov,

chief Research Officer of the Center for Economic Research and Reforms under the Administration of the President of the

Republic of Uzbekistan

On May 15, 2026, an informal summit of the Organization of Turkic States will be held in the city of Turkestan.

The upcoming high-level event will serve as a vital platform for discussing pressing issues of cooperation and defining the next priority areas for the development of interaction among member states.

The formation of the Turkic integration space has a multi-century history, rooted not only in the commonality of language, culture, and historical heritage but also in the rich traditions of enlightenment and intellectual thought of the Turkic peoples. The Jadidism movement of the late 19th and early 20th centuries played a pivotal role in shaping the ideas of cultural and spiritual rapprochement. Its representatives advocated for education, science, social modernization and the strengthening of ties between the Turkic nations.

The first summit of the heads of Turkic-speaking states was held in 1992 in Ankara at the initiative of Turkish Prime Minister Turgut Özal. In the 1996 Tashkent Declaration, the heads of state solidified the provision for establishing a Secretariat. Over the following years, this format evolved consistently, leading to the establishment of the Cooperation Council of Turkic-Speaking States in Nakhchivan in 2009. At the 2021 Istanbul Summit, a decision was made to transform the entity into the Organization of Turkic States (OTS). This reflected the expansion of the organization's activities and its growing international significance.

The primary objective of the organization is to develop comprehensive cooperation among the member states - Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye and Uzbekistan. Priority tasks include strengthening mutual trust and good-neighborly relations, coordinating foreign policy positions and expanding cooperation in trade, economic, transport, energy, and cultural-humanitarian spheres. Special attention is paid to creating favourable conditions for trade and investment, developing scientific and technical cooperation and improving the living standards of the region's population.

The organizational structure of the OTS includes a number of key institutions that coordinate multilateral cooperation. The Council of Heads of State is the supreme body, which defines strategic development goals and holds regular meetings. The Council of Elders of the Organization of Turkic States serves in a consultative capacity. Bringing together influential representatives from member states, it serves to strengthen the traditions of mutual understanding and trust within the Turkic world.

Uzbekistan has been an active participant in the processes of bringing Turkic states closer and developing multilateral cooperation within this format from the very beginning. A new turning point was President Shavkat Mirziyoyev's participation as a guest of honour in the 6th Summit of Turkic-Speaking States, held on September 3, 2018, in Cholpon-Ata, Kyrgyzstan. This step provided a new impetus to the organization's development. In 2019, the Republic ratified the Nakhchivan Agreement, officially formalizing its full-fledged participation in the activities of the OTS.

With Uzbekistan’s accession, the organization’s activities and the cooperation agenda among member states have intensified significantly. At the summits held between 2019 and 2025, the President of Uzbekistan put forward 116 initiatives aimed at deepening multifaceted cooperation. To date, 64 of these have been implemented, with several other projects currently in their final stages. These figures demonstrate Uzbekistan’s systematic and practical approach toward developing integration processes within the Turkic space.

The implemented initiatives cover a comprehensive range of areas. In the fields of economy and transport, the introduction of the “e-Permit”, “Digital TIR” and “Green Corridor” systems - aimed at streamlining logistics processes and developing the region's transit potential - has been of particular importance. In the tourism sector, key highlights included the declaration of Kokand as the Tourism Capital of the Turkic World and the implementation of the “Tabarruk Ziyorat” (Sacred Pilgrimage) project, which serves to develop pilgrimage tourism.

Cooperation in the fields of youth policy, science, and education is developing actively. Youth leadership forums, international conferences, and events within the framework of the Turkic Universities Union are being held regularly. At the same time, significant attention is paid to innovative development - IT forums, startup platforms and meetings of sectoral agencies are organized, including cooperation in the space industry and defence sectors. This reflects the striving of member states to form a unified technological space.

Uzbekistan's chairmanship, which began following the outcomes of the 2022 Samarkand Summit, holds particular significance for the development of the Organization of Turkic States. During this period, the country not only intensified practical cooperation but also introduced institutional innovations to the organization's activities. In particular, for the first time, the practice of developing a comprehensive Concept and Action Plan for the chairmanship period was introduced. This made it possible to give the cooperation a more systematic and consistent character. Within the framework of the chairmanship, more than 100 events were held at various levels, covering key areas from economy and transport to science, culture and education.

Today, OTS agenda is being shaped taking into account the interests of all participating states, with each country contributing to the development of integration processes.

Economic cooperation within the OTS framework demonstrates steady positive growth. According to the results of recent years, Uzbekistan's trade turnover with the member states of the organization has been consistently increasing and exceeded USD 10.8 billion in 2025. Kazakhstan and Türkiye remain our country's primary trading partners. At the same time, an increase in bilateral trade with other member states is also being observed. This indicates the deepening of economic integration and cooperation ties within the region.

From this perspective, the upcoming summit of the Organization of Turkic States to be held in the city of Turkistan will serve as a vital platform for discussing future directions of multilateral cooperation and developing new joint initiatives. Given the summit's theme, special attention is expected to be paid to digital transformation, the development of joint innovation ecosystems, the implementation of artificial intelligence technologies, strengthening cooperation in digital infrastructure and the training of highly skilled modern personnel.

At the same time, discussions are planned to cover the strengthening of trade and economic ties, the development of transport and logistics connectivity, the expansion of investment cooperation, as well as the promotion of joint high-tech and innovative projects within the Turkic space.

According to experts, Uzbekistan, as a supporter of deepening practical cooperation and strengthening mutual trust within the Turkic space, will continue to actively contribute to the realization of the organization’s common goals. The expected agreements and initiatives are anticipated to provide a new impetus to integration processes, serve the sustainable development of the region, and further enhance the international prestige of the Organization of Turkic States.

Dunyo IA

The President of Uzbekistan has signed the Resolution “On measures to introduce a system of continuous improvement of knowledge of the population and civil servants in the fight against corruption”.

The legal and institutional framework for preventing and combating corruption has been improved in Uzbekistan in recent years. At the same time, there is a need to raise to a new level the system of developing an intolerant attitude towards corruption among the population and civil servants, immunizing them with ‘integrity vaccine’, as well as increasing knowledge and skills in the fight against corruption based on the requirements of the time.

In this regard, the President of Uzbekistan has signed the Resolution “On measures to introduce a system of continuous improvement of knowledge of the population and civil servants in the fight against corruption”.

The Resolution will introduce a system of continuous improvement of knowledge of the population and civil servants in combating corruption.

For this purpose, from January 1, 2025, the Virtual Anti-Corruption Academy electronic platform (Virtual Academy) will be launched.

The Anti-Corruption Agency and the Law Enforcement Academy are in charge in organization and conduct of educational activities at the Virtual Academy. The Agency forms a contingent of civil servants who are subject to training, in agreement with the Academy, approves the annual training schedule, and monitors the quality organization of the educational process. The Agency submits annually information on the activities of the Virtual Academy to the National Anti-Corruption Council.

The key is that any citizen will have the opportunity to voluntarily study at the Academy’s basic courses. In particular, educational programs of various formats will be developed for preschool and school children, students, entrepreneurs, and representatives of nongovernmental organizations, taking into account their age, level of development and field of activity.

Increasing knowledge and skills in combating corruption at the Academy is mandatory for all civil servants.

This, undoubtedly, is of great importance in increasing the legal consciousness and culture of the population and civil servants, creating legal immunity from corruption in society, and cultivating the integrity values in the younger generation.

Training at the Virtual Academy in basic courses is organized free of charge for all users, and advanced training in special courses is fee-based.

The Agency formulates recommended annual research topics in the field of anti-corruption for higher education institutions and research organizations. All higher education and research organizations will annually submit to the Agency the results of research they conducted in the area. The Academy will maintain an electronic database on achievements, domestic and foreign experience, scientific, methodological and practical developments and research work.

Based on the Resolution, a Road Map is approved to ensure the effective functioning and strengthening of the material and technical base of the Virtual Anti-Corruption Academy electronic platform.

According to it, the Virtual Anti-Corruption Academy electronic platform and its mobile app will be launched by January 1, 2025. Special programs and content organized in the Virtual Academy for pre-school and school children, and students will be developed by October 1, 2024.

As part of the Global Resource for Anti-Corruption Education and Youth Empowerment (GRACE) Initiative, measures will be taken to create high-quality animated films, video and audio materials intended for students.

The launch of the Virtual Academy will serve to accelerate the formation of an intolerant attitude towards corruption in society, as well as the introduction of a system of continuous improvement of the knowledge and skills of the population and civil servants in the fight against corruption.

Dunyo IA

The text of the article is in Uzbek!

At the invitation of President of the Republic of Uzbekistan Shavkat Mirziyoyev, United Nations Secretary-General António Guterres will pay an official visit to our country from June 30 to July 1.

The program of the high-ranking guest's stay in Tashkent envisages talks at the highest level.

The agenda includes issues of further expansion and strengthening of Uzbekistan's multifaceted cooperation with the UN and its institutions, as well as topical aspects of global policy and regional interaction. Special attention will be paid to supporting measures to achieve the Sustainable Development Goals in our country.

During the visit, the UN Secretary-General will also visit a number of industrial and social sites, hold bilateral meetings and events.

Translated with DeepL.com (free version)

The President of Uzbekistan signed the Constitutional Law “On the Tashkent International Financial Center”.

In the legal hierarchy of the state, a Constitutional Law ranks immediately after the Constitution. This means that no agency, no instruction and no by-law may contradict its provisions. For an investor, especially an international one, this is the highest form of legal guarantee: capital flows to where it cannot be taken away tomorrow.

The signing of the Constitutional Law was accompanied by amendments to the Basic Law and dozens of legislative acts — the Criminal, Civil, Tax and Customs Codes, as well as laws on banks, securities, investment, auditing and many others.

Article 15 of the Constitution has been supplemented with a provision stating that a special legal regime may be established in special zones within the country's unified legal space. This legitimizes the existence of the TIFC as a jurisdiction with different rules within Uzbekistan, without contradicting the Basic Law.

Article 131 of the Constitution has been supplemented with a provision allowing for the establishment of specialized courts in zones with a special legal regime, which forms the constitutional basis for the Tashkent International Commercial Court.

The Tashkent International Financial Center is being established as an independent entity with clearly defined boundaries that cannot be arbitrarily reduced once it becomes operational.

The legal system of the TIFC is based on English law and the principles of equity of England and Wales. This is the very system under which the world’s largest financial centers operate. It is familiar and well understood by global banks, investment funds and multinational corporations. In other words, it is the language of international capital.

All decisions taken by the center's bodies are published in the official register in English, which is an important signal for foreign participants. The translation barrier, which often becomes a source of dispute, is eliminated here from the outset.

Particular attention should be paid to the establishment, within the TIFC, of the Tashkent International Commercial Court, which will become an institution of trust. The court enjoys full independence, and no agency or state body has the right to instruct it or interfere in its activities. Judges may be citizens of any state — specialists in international trade law, finance, technology and arbitration — which opens the way to attracting judges of international standing and reputation.

It is also important that the rulings of the Tashkent International Commercial Court are binding throughout the territory of Uzbekistan and cannot be reviewed by the country’s ordinary state courts, except in strictly defined cases. The court consists of a court of first instance and a court of appeal.

The law establishes a clear and exhaustive list of protective mechanisms for TIFC participants. First and foremost is the prohibition on confiscation, nationalization, expropriation and the freezing of assets other than by court order and strictly in accordance with the law.

Participants of the Tashkent International Financial Center are guaranteed freedom of capital movement and the right to conduct transactions in foreign currency and digital assets within the limits established by the Financial Services Authority together with the Central Bank of Uzbekistan. The right to freely repatriate capital is also provided for — that is, the ability to transfer profits abroad without administrative obstacles.

A separate set of provisions sets out the tax and customs regime. The TIFC's bodies and the structures under their control are exempt from corporate income tax and the social tax. This benefit is fixed until 1 January 2076 — that is, for 50 years. This is not a tactical incentive but a strategic guarantee designed to span a change of generations.

The list of services that participants may provide within the center covers the entire spectrum of the modern financial industry. These include banking and insurance activities, management of investment and pension funds, trust structures, leasing, crowdfunding, Islamic finance, work with digital assets, market-making, and transactions with securities of all classes — shares, bonds, sukuk and derivatives.

In addition to the financial sector, activity is permitted in auditing, consulting, legal and accounting services, corporate governance, and financial-technology (fintech) startups. Provision is also made for the establishment of holding companies, special-purpose vehicles and treasury companies.

The law also establishes a special visa regime for foreign nationals working at the Tashkent International Financial Center. An entry visa valid for up to five years can be obtained directly at Tashkent International Airport. Foreign specialists may be hired without obtaining work permits in Uzbekistan, which significantly simplifies the recruitment of global talent.

The Tashkent International Financial Center is governed through four bodies: the TIFC Council, the Administration, the Financial Services Authority, and the Tashkent International Commercial Court. Each operates within strictly defined powers and has no right to interfere in the sphere of competence of another.

The composition of the Council is approved by the President of Uzbekistan. At least one-third of the Council's members must be independent specialists in international finance and law who have never held positions within the government system of Uzbekistan. This serves as a safeguard against the governing body turning into just another administrative structure.

Council members (other than the chairperson) are appointed for a term of five years and may be removed early only on grounds provided for by law. The stability of the governing body's composition is another form of predictability for market participants.

Thus, the creation of the Tashkent International Financial Center is not merely another economic development project. It is a declaration of intent, enshrined at the highest legal level. Uzbekistan wants — and is ready — to become part of the global financial system as a fully-fledged platform operating under clear, internationally recognized standards.

Half a century of tax incentives, English law, an independent international court, constitutional guarantees for the protection of capital, and simplified visa procedures — each of these elements is, on its own, a competitive advantage. Together, they form a system capable of attracting long-term, institutional, smart capital.

Dildora Kamalova
Member of the Legislative Chamber of the Oliy Majlis of Uzbekistan

(Dunyo IA)

The Business Activity Index (BAI), estimated by the Center for Economic Research and Reforms, reached 1124 points in February 2026, increasing by 12.4% compared with the previous month (and by 24.2% compared with the same period last year, Chart No.1).

In February of the current year, the following changes were observed across the BAI components:

• the component reflecting the number of transactions on business entities’ bank accounts increased by 22%;
• the intensity of raw material purchases on the commodity exchange rose by 10.6%;
• the component reflecting active business entities increased by 0.9%;
• the trademark component grew by 9.4%.

In February 2026, the BAI also increased in 13 regions compared with the previous month (Chart No.2).

In particular, notable growth was observed in Andijan region (44.8%), Syrdarya region (41.7%), Tashkent region (33.3%), and Kashkadarya region (28.2%).

At the same time, in the Republic of Karakalpakstan the indicator slightly declined by 0.5%, remaining at a moderate level.

Banking operations

During the reporting period, the number of interbank payment transactions reached 6,760.3 thousand, increasing by 1,220.5 thousand transactions (22%) compared with January 2026.

An increase in interbank payment operations was recorded in 12 regions. In particular, a significant rise in banking operations between legal entities compared with the previous month was observed in Tashkent city (24.1%), Surkhandarya region (23.3%), Samarkand region (21.4%), and Navoi region (17.7%).

At the same time, this indicator declined in Syrdarya region (8.1%) and the Republic of Karakalpakstan (1.6%).

Exchange component

In February of the current year, the exchange component of the BAI reached 1.1058 points, increasing by 10.6% compared with the previous month.

This reflected a 36.2% increase in the number of transactions concluded, while the average volume of goods purchased per transaction declined by 15.1%.

The total turnover of goods traded on the UzEx amounted to 6,296 billion soums in February 2026, which is 6.5% higher than in the previous month.

Component of active business entities

During the reporting period, this component amounted to 1.0088 points, increasing by 0.9% compared with the previous month.

At the same time, the total number of operating business entities increased by 4,079 units, reaching 508.5 thousand.

The number of large enterprises increased by 51 units, reaching 4,161.
The number of small enterprises rose by 3.9 thousand, reaching 415.1 thousand.
The number of farms increased by 36, reaching 89.2 thousand.

Trademark component

In February 2026, the trademark component reached 1.0641 points, increasing by 9.4% compared with the previous month.

During this period, 430 trademarks and product names were registered by legal entities.

Islombek Saparmatov, CERR

On February 21, under the chairmanship of the President of the Republic of Uzbekistan, Supreme Commander-in-Chief of the Armed Forces Shavkat Mirziyoyev a meeting was held on strengthening military security and defense capacity of the state.

The meeting was attended by members of the Security Council, heads of ministries and departments within the Armed Forces of Uzbekistan, commanders of military districts, as well as the chairmen of the Jokargy Kenges and the Council of Ministers of the Republic of Karakalpakstan, regional and Tashkent city khokims, as well as responsible persons of local authorities in the videoconference format.

At the beginning of the meeting, the adopted measures on strengthening the country's defense capacity and their results were reviewed, certain shortcomings in this work were pointed out.

It was noted that the national army is being equipped with modern weapons and equipment, the level of combat and moral-psychological training of servicemen has significantly increased. 

In view of international experience and the analyses carried out, new combat units have been formed to prevent and eliminate internal and external threats, and the organizational structure of the troops has been optimized.

It was underlined that the creation of a new system of modernization and modern equipment of the army continues - the defense industry is developing and additional enterprises have been set up. The Armed Forces of Uzbekistan have established bilateral military cooperation with more than 20 countries and successfully participated in more than 400 joint exercises.

The infrastructure of higher military schools within the Armed Forces has been completely modernized, their curricula and methodology brought in line with modern requirements. 

The social and legal protection of servicemen and their families has been strengthened. In particular, about 30,000 families have been provided with housing, and more than 2,000 children of servicemen have received benefits when enrolling in higher educational institutions. 

Military administrative sectors, government and public organizations are involved in creating favourable conditions for homeland defenders. Attention to the issues of educating young people in the spirit of patriotism and initial pre-conscription military training in schools is being intensified.

The meeting identified priority tasks for 2025 and subsequent years. 

The need to consider contemporary armed conflicts, existing threats to national security and the peculiarities of the theater of military operations when planning for the further development of the army was emphasized. 

It has been indicated that artificial intelligence, robotic systems, missiles, drones and means of countering them are widely used in today's regional conflicts. In this connection, it has been instructed to create new units in the armed forces to combat drones, use robotic equipment, air defense, and cyber structures utilizing artificial intelligence technologies.

The Supreme Commander-in-Chief emphasized the need to further improve the combat readiness of the army, raise the level of combat training, create a unified automated troop management system using artificial intelligence technologies, as well as introduce dual training in military education and training of military personnel. 

Priority tasks have been set to improve the activities of the “Corps of Master Sergeants”, which is the backbone of the army, further develop the defense industry, provide social support to servicemen and their families, educate young people in the spirit of patriotism and involve them in military sports.

Reports and proposals by the Minister of Defense, commanders of military districts and other responsible persons were heard at the meeting.