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.

On 24 October 2025, Uzbekistan and the European Union signed the Enhanced Partnership and Cooperation Agreement (EPCA) — a comprehensive framework that culminates negotiations launched in February 2019 and initialled in July 2022. More than a ceremonial milestone, the EPCA codifies a strategic upgrade in our relationship with the EU. It is broad in scope — nine titles, 356 articles, and 14 annexes — and practical in ambition: to align our cooperation with the realities of a rapidly changing world economy while reinforcing the rule-of-law foundations of sustainable development at home.

The agreement’s timing is revealing. Uzbekistan’s recent balanced, multi-vector foreign policy and people-centred reforms — strengthening the rule of law, expanding public administration openness, and advancing market reforms — have laid the necessary groundwork. These steps in human rights and governance have increased international confidence, enabling a rules-based partnership with Europe. The EPCA is both a vote of confidence in Uzbekistan’s reform trajectory and a tangible roadmap to deliver measurable outcomes.

Economically, the EPCA offers a clear pathway for integration and growth. It promotes approximation to EU norms on technical regulations, product safety, and sanitary and phytosanitary measures. The agreement is designed to reduce non-tariff barriers, simplify border procedures, and make our exporters more competitive in the EU market. It encourages joint ventures and industrial clustering, extends agro-processing and manufacturing value chains, and supports energy efficiency and industrial modernisation. In short: more trade, more investment, and more quality jobs at home.

Human capital is an equally central pillar. The EPCA expands cooperation across education, science, skills development, and public health. It encourages joint university programmes, faculty and student exchanges, and research grants — mechanisms that accelerate knowledge transfer and help align our skills base with the demands of a digital and green economy. The spillovers are immediate and tangible: better public services, higher productivity, and new career pathways for our young people.

The rule-of-law dimension is another strategic gain. Deeper cooperation on judicial reform, anti-corruption, data protection, and cybersecurity increases predictability for investors and protections for citizens. The agreement’s chapter on foreign and security policy expands dialogue on conflict prevention, crisis management, non-proliferation, and export controls. This cooperation supports regional stability, which is essential for long-term growth.

Connectivity is the backbone that makes these ambitions feasible. Through synergies with the EU’s Global Gateway initiative and the Trans-Caspian Transport Corridor, the EPCA supports logistics hubs, border modernisation, and greener infrastructure. Better connectivity means lower trade costs, faster delivery times, and diversified export routes — practical levers for competitiveness. It also enables cooperation on water management, climate adaptation, and resilient energy systems — strategic priorities for a land-linked Central Asian economy.

Critically, the EPCA opens structured avenues for collaboration on critical raw materials needed for the green and digital transitions. This builds on the EU-Uzbekistan memorandum of understanding signed in 2024. It creates opportunities to upgrade domestic standards, attract responsible investment, and join higher segments of global value chains, while maintaining environmental and social safeguards.

Beyond the text, the joint statement issued at the signing underscores a shared commitment to the UN Charter and to the principles of independence, sovereignty, and territorial integrity — principles that guide our positions in international fora. It also welcomes the outcomes of the EU–Central Asia Summit, including plans for a Central Asia–EU Economic Forum and a Trans-Caspian Connectivity Investors Forum in Tashkent in 2025. In short, the EPCA is embedded in a wider, forward-looking regional agenda.

In practical terms, success requires implementation of three clear priorities: coordinated institution building, enhanced business support, and transparent, data-driven tracking. These will ensure commitments translate to outcomes.

First, institutional coordination. Translating commitments into outcomes requires a whole-of-government mechanism with clear mandates, timelines, and dashboards. A national EPCA coordination council, supported by technical working groups, should steer approximation to EU standards, monitor progress, and troubleshoot bottlenecks.

Second, business enablement. Firms need guidance to navigate new standards and opportunities. An 'EU Helpdesk' for exporters and investors would offer practical advice on certification, rules of origin, and compliance. This would turn legal text into business practice. Expanding the capacity of testing, inspection, and certification bodies will further reduce transaction costs and speed market entry.

Third, open, data-driven delivery. Customs and trade facilitation should be fully digitised through single-window systems and interoperable data exchange. Regular public reporting on milestones — such as education partnerships, financed projects, and adopted standards — will sustain credibility and invite feedback from business and civil society.

The EPCA also aligns with Uzbekistan’s WTO accession path by encouraging market-based reforms and transparent, rules-based trade. As reforms deepen, our economy will see more diversified exports, stronger investor protections, and a more competitive domestic market. These outcomes raise household incomes and expand opportunity.

This agreement is ambitious by design. Ambition alone is empty; execution alone is stagnant. The EPCA combines both — setting a high bar and supplying the means to reach it. By acting decisively, we turn this framework into a catalyst for inclusive growth, institutional maturity, and global credibility.

Ultimately, the EPCA is more than a diplomatic success; it is the engine for Uzbekistan’s reform agenda. By linking citizen welfare, business competitiveness, and international engagement, the EPCA puts us on a path to fundamental transformation. The critical task ahead is to deliver on this promise and make the Uzbekistan-EU partnership impactful and enduring.

By Eldor Tulyakov,

Executive Director, Development Strategy Centre, Uzbekistan

Марказий Осиё сўнгги йилларда иқлим ўзгариши оқибатларига тобора кўпроқ дуч келаётган ва дунёда ундан энг кўп зарар кўриши мумкин бўлган минтақалридан бири. Сўнгги 70 йил ичида Марказий Осиёда ҳарорат Цельсий бўйича 1,5-2 даражага кўтарилди. Бу эса экологик муаммоларнинг кескинлашувига, музликларнинг эриши ва чўлланишнинг тезлашишига таъсир кўрсатмоқда. Ушбу жараёнларнинг барчаси бир-бири билан ўзаро боғлиқ бўлиб, минтақадаги экотизимлар, иқтисодиёт ва одамлар ҳаётига салбий таъсир кўрсатмоқда.

Глобал миқёсда иқлим ўзгариши туфайли музларнинг эриш тезлиги сўнгги йилларда 65 фоизга ошди: 90-йилларнинг бошида сайёрада йилига 0,8 триллион тонна, 2000-йилларга келиб эса 1,3 триллион тонна муз эриб кетган. Марказий Осиё минтақаси учун ҳам ушбу экологик муаммо бугунги куннинг энг муҳим иқлим муаммолари қаторига киради.

Марказий Осиёда сув ресурслари тақчиллиги ортиб бормоқда. Бугунги кунда 37 миллион нафардан ортиқ киши асосан сув таъминотининг пасайиши, шунингдек, тегишли инфратузилманинг етарли даражада ривожланмаганлиги билан боғлиқ бўлган сув ресурслари кескин етишмайдиган ҳудудларда яшайди.

Евроосиё тараққиёт банки ҳисоб-китобларига кўра, 2025-2030-йилларда минтақа мамлакатлари учун сув ва иқлим инфратузилмасига зарур бўлган инвестицияларнинг умумий ҳажми қарийб 29,2 миллиард долларни ташкил этади.

Оролбўйи минтақасининг ҳолати вазиятни қийинлаштирмоқда – шамоллар Оролнинг қуриган тубидан ҳар йили тахминан 15-75 миллион тонна қум, чанг ва тузни учириб кетади. Бу эса сезиларли масофаларда ҳавонинг сифатини ёмонлаштиради ва бевосита ижтимоий-иқтисодий йўқотишларга олиб келади.

Шу сабабдан ҳам сўнгги йилларда Марказий Осиёнинг минтақавий кун тартибида экологик масалалар тобора устувор аҳамият касб этмоқда. Сув ресурслари билан боғлиқ муаммолар, ерларнинг деградацияси, иқлим ўзгариши, Оролбўйининг ҳолати эндиликда минтақа мамлакатлари томонидан алоҳида эмас, балки минтақанинг умумий барқарор ижтимоий-иқтисодий ривожланиш масалалари контекстида кўрилмоқда.

Марказий Осиё мамлакатлари давлат раҳбарларининг сиёсий иродаси туфайли экология соҳасидаги кўп томонлама ҳамкорлик янада тизимли ва мазмунли бўлиб бормоқда.

Бунда минтақавий ҳамкорликнинг институционал асосларини мустаҳкамлаш алоҳида ўрин тутди. Оролни қутқариш халқаро жамғармаси ва унинг тузилмалари амалдаги механизмлари билан бир қаторда, экологик масалалар минтақа мамлакатлари давлат раҳбарларининг маслаҳат учрашувлари, шунингдек, соҳавий идоралараро ва экспертлар мулоқоти доирасида янада изчил мустаҳкамлана бошлади.

Минтақа мамлакатларининг иқлим билан боғлиқ халқаро тадбирларда фаоллашганини ҳам таъкидлаш жоиз. Хусусан, БМТнинг Иқлим ўзгариши тўғрисидаги доиравий конвенцияси конференцияларида Марказий Осиё мамлакатлари "5 мамлакат - 1 минтақа - 1 овоз" тамойили остида чиқиш қилиб, иқлим муаммолари бўйича миллий устувор масалалар ва умумий минтақавий ёндашувларни тақдим эта бошладилар.

Марказий Осиёнинг барча мамлакатлари Париж келишуви доирасида ўзларининг миллий миқёсда белгиланган ҳиссасини тақдим этди ва иссиқхона газларини камайтириш, "яшил" энергетика қувватини ошириш ва мослашувчанлик салоҳиятини мустаҳкамлаш бўйича ўз олдига юқори мақсадларни қўйди.

Шу билан бирга, Қозоғистон 2060-йилга бориб углерод нейтраллигига эришиш йўлини белгилаб олди, Ўзбекистон эса 2035-йилга бориб ялпи ички маҳсулот бирлигига тўғри келадиган иссиқхона газлари эмиссиясини 2010-йилдагига нисбатан 50 фоизга камайтириш бўйича мақсадли кўрсаткични оширди. Қирғизистон, Тожикистон ва Туркманистон ҳам глобал иқлим мақсадларига эришиш йўлидаги интилишларини тасдиқлаб, ўз ҳиссасини доимий равишда янгилаб, ошириб келмоқда.

Орол инқирози оқибатларига мослашиш масаласида ҳам сезиларли натижаларга эришилди. Хусусан, Орол денгизининг қуриган тубида Ўзбекистон томонида сўнгги 5 йил ичида 1,7 миллион гектар ўрмонзорлар барпо этилди, Қозоғистон томонида 1 миллион гектардан ортиқ майдонда ўрмон-мелиорация ишлари олиб борилди.

Минтақавий ҳамкорликнинг яна бир ёрқин натижаларидан бири Шимолий Оролдаги вазиятнинг яхшиланиши бўлди. Сирдарё бўйидаги   сув омборларининг иш тартибини мувофиқлаштириш ва давлатлараро келишувларни бажариш ҳисобига сўнгги уч йилда денгизга 6 миллиард куб метрдан ортиқ сув келиб тушди. Натижада Шимолий Оролнинг ҳажми 2022-йил охиридаги 18,9 миллиард куб метрдан 2025-йил охирида 23 миллиард куб метргача ошди.

Билим алмашинуви ва илмий экологик экспертиза соҳасида ҳам минтақавий ҳамкорлик кенгаймоқда. Ўзбекистонда атроф-муҳит ва иқлим ўзгаришини ўрганиш бўйича Марказий Осиё университетининг ташкил этилиши ушбу ҳамкорликнинг натижаси бўлиб, минтақада шу йўналишда кадрлар тайёрлаш ва қўшма тадқиқотларни ривожлантириш учун янги майдонга айланди.

Шундай қилиб, Марказий Осиёда ўзаро минтақавий экологик ҳамкорлик аста-секин амалий аҳамият касб этмоқда. Мамлакатлар умумий халқаро позицияни шакллантириш, мувофиқлаштириш механизмларини ривожлантириш, Оролбўйи экотизимларини тиклаш бўйича чора-тадбирларни амалга ошириш ва илмий-таълим базасини яратишда сезиларли натижаларга эришди.

Шу билан бирга, минтақадаги экологик муаммолар кўлами мувофиқлаштиришни кенгайтиришни тақозо қилмоқда. Трансчегаравий сув ресурсларини бошқаришда янада ўзаро мувофиқлаштирилган ёндашувларни ишлаб чиқиш, иқлим ўзгаришининг оқибатларига мослашиш чораларини кенгайтириш, сув ва экологик инфратузилмага узоқ муддатли инвестицияларни жалб этиш, шунингдек, умумий экспертлар базаси ва таҳлилий базани мустаҳкамлаш устувор вазифалар сифатида қолмоқда.

Кейинги йилларда Марказий Осиёнинг экологик кун тартиби самарадорлиги минтақа мамлакатлари сиёсий ҳамкорлик натижаларини барқарор қўшма механизмларга қанчалик изчил трансформация қила олишига боғлиқ бўлади.

Остона шаҳрида бўлиб ўтадиган Минтақавий экологик саммит иқлим масаласида умумий мақсадига эришиш йўлидаги яна бир қадам бўлади. Иқлим ва экологик муаммоларни бартараф этиш бўйича янги ва амалий ечимларни ишлаб чиқиш нафақат Марказий Осиё мамлакатларининг глобал иқлим кун тартибига қўшган ҳиссасини оширишга, балки экотизимлар барқарорлигини таъминлаш, ҳаво ифлосланишини камайтириш, табиий ресурсларни барқарор бошқариш ва устувор равишда сув ва энергетика ресурсларини бошқариш бўйича минтақавий вазифаларни ҳал этишга ҳам хизмат қилади.

Эльвира Бикеева,

МҲТИ лойиҳа раҳбари

Малика Сапармуҳаметова,
МҲТИ етакчи мутахассиси

The initiatives announced by President of Uzbekistan Shavkat Mirziyoyev during the Open Dialogue with entrepreneurs in Khiva, Khorezm Region continue to generate a strong response and heightened interest among representatives of the international business community, foreign investors, and transnational corporations.

The scale and depth of the announced reforms are being viewed by the global market as a clear sign of the country’s readiness to guarantee maximum capital security, ensure legal predictability, and create the most favorable conditions for doing business in the region.

The Open Dialogue sent a clear signal to the international business community. The meeting in the Khorezm Region not only summarized the large-scale transformation of the business environment in recent years, but also reaffirmed the country’s strategic course toward deep integration into global value chains, the promotion of exports, and the uncompromising protection of investors’ rights.

In recent years, the country has demonstrated impressive economic growth. The number of registered business entities has nearly doubled and exceeded 530,000, while 2.4 million permanent jobs have been created in the private sector, and export volumes have reached a historic high. However, the main message of the Khiva Dialogue is addressed to international partners and is focused on the future: Uzbekistan is building a highly predictable, secure, and favorable ecosystem for investment capital.

For foreign investors and joint ventures, opportunities for institutional support and access to financing are being significantly expanded.

The State Fund for Entrepreneurship Support has been reoriented toward supporting projects in the services sector and medium-sized businesses, while an additional 100 million dollars has been allocated to guarantee credit lines.

As part of the state program supporting high-growth companies, a system of grants and preferential financing of up to 10 billion sums has been introduced. This creates a strong platform for launching and developing high-tech and innovative startups with foreign capital participation.

In addition, in order to encourage joint ventures to enter global markets, the state will cover up to 50 percent of companies’ expenses for placing their products on major international electronic trading platforms.

A central part of the Dialogue was strengthening the inviolability of private property and ensuring absolute stability of tax legislation.

In order to reduce administrative pressure, a “single window” principle for assessing tax risks is being introduced. In Uzbekistan, duplicative inspections by regulatory authorities are being abolished, while the procedure for analyzing tax gaps is being adapted to international standards with the direct participation of the business community.

At the same time, penalties for administrative and criminal offences have been toughened for any unlawful interference by government bodies in the activities of business entities.

Uzbekistan is consistently implementing sustainable development standards and green growth principles, opening up broad prospects for institutional and green investors.

For enterprises investing in energy-efficient technologies and solar power generation, a package of tax deductions, accelerated depreciation mechanisms, and special tariff preferences has been introduced.

As part of the adaptation to international environmental standards and the requirements of the European carbon regulation mechanism, the country is launching a national certification system for “green” products, which will ensure the unhindered access of domestically produced goods to highly competitive global markets.

The holding of the Dialogue in Khiva underscores the state’s strategic priority of decentralizing the economy and ensuring the comprehensive development of the regions.

In the Khorezm Region, a special legal regime is being established for pharmaceutical, textile, and IT clusters, with direct integration into international transport and logistics corridors connecting Central Asia with the markets of the Middle East, South Asia, and Europe.

In special economic zones, the principle of full infrastructure readiness is being introduced. All engineering and utility networks are to be provided on a turnkey basis by the state before the arrival of the management company or investor.

The outcomes of the Open Dialogue in Khiva confirm Uzbekistan’s transition from a series of individual reforms to the establishment of strong institutional guarantees.

For international investors and transnational companies, this means a systematic reduction in country risks, direct state support at all stages of project implementation, and reliable access to the dynamic Central Asian market with its young and highly qualified human capital.

Today, Uzbekistan is firmly establishing itself as a stable and predictable jurisdictional hub for long-term international business.

Sadriddin Suyarov

Dunyo IA

The eighth Consultative Meeting of the Heads of State of Central Asia and Azerbaijan, scheduled for 8 October 2026 in Awaza, lends particular significance to the strategic partnership between Uzbekistan and Turkmenistan. The agenda proposed by Turkmenistan covers security, the economy, energy, transport, water resources and humanitarian ties. In each of these areas, cooperation between Tashkent and Ashgabat can deliver benefits for the region as a whole.

Against a backdrop of global instability and the restructuring of Eurasian logistics networks, this partnership is becoming a pillar of regional stability. Its broader significance rests on a combination of political trust, complementary economies and responsibility for shared resources. Coordination between the two neighbours creates a more predictable environment for trade, investment and long-term planning across Central Asia.

From Strategic Partnership to Regional Trust

The 1996 Treaty of Friendship, Cooperation and Mutual Assistance laid the foundations for bilateral relations. A new stage began in March 2017, when President Shavkat Mirziyoyev made his first foreign visit as head of state to Turkmenistan. The visit culminated in the signing of the Treaty on Strategic Partnership. The Declaration of 21 October 2022 reaffirmed the commitment to deepening this partnership, expanding economic ties and strengthening cooperation on the international stage.

The settlement of border issues through negotiated agreements is equally significant. On 10 November 2017, Uzbekistan, Turkmenistan and Kazakhstan signed a treaty concerning the area where their state borders meet. Such agreements strengthen regional trust and provide legal certainty for the development of cross-border cooperation.

Regular dialogue between Shavkat Mirziyoyev, President Serdar Berdimuhamedov and the National Leader of the Turkmen People, Gurbanguly Berdimuhamedov, ensures continuity in this approach. The state visit of the President of Turkmenistan to Uzbekistan in November 2025 gave fresh impetus to cooperation. Agreements were signed on border trade, agriculture, healthcare and ties between the regions of the two countries. Political trust is steadily being translated into practical mechanisms for joint action.

Ashgabat’s diplomatic engagement plays a particular role. On Turkmenistan’s initiative, the UN General Assembly adopted the resolution “Zone of Peace, Trust and Cooperation of Central Asia” on 28 July 2022, with Uzbekistan among its co-sponsors. The resolution secured international political support for regional dialogue and the peaceful settlement of disputes. By advancing this agenda, Turkmenistan assumes an important responsibility for strengthening trust in Central Asia. This approach is consistent with Uzbekistan’s policy of good-neighbourly relations: joint efforts to prevent risks create the conditions needed for national development programmes and regional projects.

Economic Cooperation as a Foundation for Integration

Trade growth demonstrates the economic foundations of closer ties. According to Uzbekistan’s National Statistics Committee, bilateral trade rose from $177.9 million in 2017 to $1.2 billion in 2025, an increase of approximately 6.8 times. In January–August 2026, it reached $807.4 million, up 5.7 per cent on the same period of the previous year.

A free trade regime has been in effect since 25 February 2025, eliminating customs duties on goods originating in the two countries, subject to certain exceptions. In November 2025, the Shavat–Dashoguz border trade zone opened, bringing together trading, warehousing and service facilities. It enables businesses to store and sell products, complete shipment formalities and access essential services in one location. The two sides agreed to extend this model to the Alat–Farap area. Establishing a similar zone between Bukhara Region and Lebap Province would bring more local producers into direct trading relationships.

These arrangements are turning border areas into centres of economic cooperation. Simpler trade and border procedures reduce business costs and create more opportunities for small enterprises and employment. Bilateral cooperation provides a practical setting for developing solutions that can subsequently be discussed at Consultative Meetings and applied across the wider region. This approach builds integration around measurable benefits for producers and local communities.

The leaders’ target of increasing bilateral trade to $2 billion calls for closer industrial cooperation, including in the production of construction materials, pharmaceuticals and food products.

Joint processing activities and the manufacture of finished goods could diversify both countries’ exports and strengthen regional production links. Cooperation in the purchase, supply and transit of gas and electricity complements these efforts. It offers Uzbekistan opportunities to secure reliable energy supplies for its growing economy, while enabling Turkmenistan to expand its export markets. Predictable supplies provide a more stable basis for industrial cooperation in Central Asia.

From Landlocked Geography to Eurasian Connectivity

Turkmenistan provides Uzbekistan with access to the Caspian Sea and, through the South Caucasus, to Europe. Uzbekistan’s infrastructure, in turn, connects Turkmen businesses with markets elsewhere in Central Asia. The Turkmenabat–Farap bridges, opened in 2017, strengthened this connection. Its further development marks a shift from the constraints of being landlocked towards becoming active, land-linked hubs in international transport networks.

The Awaza Programme of Action for Landlocked Developing Countries for the Decade 2024–2034 provides a global framework for this transformation. Adopted by the UN General Assembly on 24 December 2024, it was endorsed at the Third UN Conference on Landlocked Developing Countries in Awaza in August 2025. Hosting the conference and advancing its outcomes highlight Turkmenistan’s role in mobilising international support for transport connectivity, trade and climate resilience. For Tashkent and Ashgabat, this is a shared agenda for overcoming geographical constraints on development.

Practical steps include the trilateral dialogue between Uzbekistan, Turkmenistan and Azerbaijan, launched at the highest level in Awaza in August 2025, and the November agreement on the joint development of the Port of Turkmenbashi. Azerbaijan’s full participation in the Consultative Meetings creates further opportunities to coordinate Caspian transport operations. Priorities include through tariffs, electronic documentation and coordinated border-crossing operations, which are essential to turning infrastructure into a competitive transport route.

Combining Caspian and southern transport links with existing routes gives exporters across Central Asia more options and expands transport opportunities along the East–West and North–South axes. This reduces exposure to disruptions on individual routes, strengthens the region’s economic autonomy and improves its position in Eurasian trade. In this area, the value of the partnership is measured by the reliability of deliveries and access to external markets.

The Amu Darya: Water Security and Preventive Diplomacy

Cooperation on the Amu Darya, Central Asia’s largest river by discharge, directly links the resilience of both countries to the security of the entire basin. For countries along its middle and lower reaches, coordinated water use is essential to irrigation, energy supply, food security and the preservation of ecosystems in the Aral Sea region.

The intergovernmental Agreement on the Management, Protection and Rational Use of the Water Resources of the Amu Darya River, signed on 14 July 2022, strengthened the legal framework for cooperation. The fifth meeting of the Joint Water Management Commission, held in Khiva on 30 January 2026, addressed improvements in water accounting and monitoring, modern technologies and adaptation to climate change. Regular data exchange and coordinated action help the two countries anticipate water shortages and reduce the risk of disagreements.

The reliable operation of the Tuyamuyun hydraulic complex, which combines flow regulation, irrigation and electricity generation, is particularly important. Joint expert work has examined sedimentation in its channel reservoir. Sediment accumulation reduces water storage and flow-regulation capacity. Modernisation of the complex, water conservation and the reduction of losses in irrigation networks should therefore be treated as interconnected tasks in ensuring water and energy security.

Tashkent and Ashgabat share the task of establishing lasting water cooperation with all countries in the basin, including Afghanistan. In 2023, Shavkat Mirziyoyev proposed jointly studying the impact of the Qosh Tepa Canal on the flow regime of the Amu Darya and considering the involvement of Afghan representatives in regional water dialogue. Both countries attach fundamental importance to balancing Afghanistan’s economic development with the need to maintain reliable water supplies downstream. Achieving this balance requires joint assessments of the impact of new projects, the exchange of reliable data, agreement on water withdrawal parameters and consideration of each other’s interests. This gives the dialogue on the Qosh Tepa Canal significance for the entire region.

This illustrates the preventive role of water diplomacy: reaching agreement in advance reduces vulnerability to drought and the associated food security and humanitarian risks. The experience of Uzbekistan and Turkmenistan can strengthen basin-wide cooperation and engagement between upstream and downstream countries. Its effectiveness matters to the entire region because the consequences of a water crisis extend beyond national borders.

Awaza and Central Asia’s Long-Term Prospects

The “Central Asia 2040” Concept for the Development of Regional Cooperation, adopted in Astana in 2024, provides a long-term framework for joint action. The forthcoming meeting in Awaza offers an opportunity to translate that framework into practical decisions. The Uzbek–Turkmen partnership contributes concrete elements to this agenda: production links, reliable energy supplies, access to Caspian and southern transport routes, and responsible water use. Together, these areas strengthen the ability of the region’s states to shape their own development paths.

Lasting cooperation requires support from society and professional communities. Expanding cultural and people-to-people ties is particularly important in this regard. A shared cultural heritage and appreciation of the works of Alisher Navoi and Magtymguly Pyragy sustain mutual interest between the two peoples. The Days of Turkmen Culture and screenings of Turkmen films held in Urgench and Tashkent in 2025 were followed by agreements on regular exchanges. The Cultural Cooperation Programme for 2026–2027 provides a basis for bringing the two countries closer together. Joint educational programmes and the training of specialists in water management, logistics and industry could make a valuable further contribution.

Expert dialogue is also intended to support these processes. In November 2025, the Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan and the Institute of International Relations of the Ministry of Foreign Affairs of Turkmenistan signed a memorandum establishing an Uzbek–Turkmen Expert Council. This mechanism creates opportunities to assess regional risks jointly and develop proposals on trade, transport and water use. Its practical value lies in providing research-based input into interstate decisions while taking account of the interests of businesses and the public.

The new stage in the partnership between Tashkent and Ashgabat is thus defined by its contribution to the broader framework of security and sustainable development. By translating political trust into accessible markets, reliable transport and infrastructure links, and coordinated resource management, the two countries strengthen the foundations of regional cooperation. This is their strategic contribution to the future of Central Asia as a region of good-neighbourly relations, economic interconnectedness and open engagement with the Caspian basin and other parts of Eurasia.

Vladislav Tyan
Leading Research Fellow
Institute for Strategic and Regional Studies
under the President of the Republic of Uzbekistan

The Center for Economic Research and Reforms (CERR) has prepared an infographic presenting key indicators of trade, economic and investment cooperation between Uzbekistan and Tajikistan over a nine-year period.

In recent years, economic cooperation between Uzbekistan and Tajikistan has been steadily expanding, now encompassing not only trade but also industrial cooperation across various sectors, particularly energy and agriculture.

A solid legal framework has been established to support bilateral cooperation across multiple areas. In 2018, the countries signed a Treaty on Strategic Partnership, followed by a Treaty on Allied Relations in 2024.

Tajikistan is among Uzbekistan’s key trade and economic partners, ranking 9th among importers of Uzbek goods and accounting for 2% of Uzbekistan’s total exports.

Bilateral trade between Uzbekistan and Tajikistan is conducted under a free trade regime, with total trade turnover approaching $1 bn.

Bilateral Trade Indicators

Trade turnover between Uzbekistan and Tajikistan increased 3.8 times over 2017–2025, from $237.9 mln to $912.4 mln. Exports grew 3.7 times, from $186.1 mln to $683.1 mln, while imports rose 4.4 times, from $51.8 mln to $229.3 mln. Uzbekistan’s positive trade balance expanded 3.4 times, from $134.3 mln to $453.8 mln.

In 2025, compared to 2024, trade turnover increased by 29.9%, exports by 24.1%, and imports by 13.8%.

The structure of Uzbekistan’s exports to Tajikistan in 2025 totaled $683.1 mln and included: industrial goods (various knitted and felt products, plastic products, rolled metal, etc.) – $222.7 mln (32.6%); machinery and transport equipment (including electrical goods) – $58.7 mln (8.6%); petroleum products (gasoline, gas oil, bitumen) – $53.1 mln (7.8%); chemical products (polymers, sulfates, silicates, fertilizers, paints) – $53 mln (7.8%); food products (animal feed, eggs, confectionery, processed meat products, etc.) – $48.2 mln (7.1%); miscellaneous manufactured goods (construction materials, ready-made garments, silk fabrics) – $21 mln (3.1%); non-food raw materials– $8.1 mln (1.2%); other goods (including goods traded by individuals) – $70.1 mln (10.3%); as well as services (mainly railway transport) – $147.4 mln (21.6%).

The structure of imports from Tajikistan in 2025 totaled $229.3 mln and included: metal ores and concentrates (zinc, copper and precious metals) – $108.9 mln (47.5%); coal – $22.3 mln (9.7%); aluminum – $25.4 mln (11%); electricity – $17.9 mln (7.8%); cotton fiber – $17.6 mln (7.8%); fruits – $7.4 mln (3.2%); ferrous metals – $5.1 mln (2.2%); poultry — $2.4 mln (1.1%); plastic waste – $1.8 mln (0.8%); sulfur, feldspar and others; as well as services (mainly railway transport) – $6.6 mln (2.9%).

Investment Cooperation

As of March 1, 2026, there are 420 enterprises in Uzbekistan with Tajik investment (2.2% of the total number of enterprises with foreign investment), including 110 joint ventures and 310 enterprises with 100% Tajik capital.

In 2025, compared to 2024, the volume of foreign direct investment (FDI) and loans attracted from Tajikistan tripled, increasing from $64 mln to $196 mln. Over 2017–2025, the total volume of attracted FDI and loans from Tajikistan amounted to $373 mln.

The main areas of activity of enterprises with Tajik capital include trade, construction materials production, food industry, transport and other services.

Enterprises with Uzbek investment are also successfully operating in Tajikistan. In particular, major joint projects are being implemented in the energy sector, including the construction of hydropower plants on the Zarafshan River. With the participation of private capital from Uzbekistan, the joint venture “Artel Avesto Electronics” was established in Tajikistan in 2019, producing more than 10 types of household appliances.

Prospects for Trade Expansion

Uzbekistan and Tajikistan share a common border and have well-developed transport infrastructure. Given the short delivery distances, transportation costs can be relatively low, which creates favorable conditions for expanding exports.

In this context, Tajikistan represents a promising market for increasing exports of finished products from Uzbekistan that are not produced domestically in Tajikistan and are imported. These include automobiles, household appliances—especially large-sized goods such as refrigerators, washing machines and air conditioners—as well as certain food products, textiles, chemical and other goods.

Uzbekistan's upcoming elections for the Legislative Chamber of the Oliy Majlis (Parliament) and the Councils of People's Deputies, scheduled for October 27th, are not just a routine event. They mark a significant milestone in the nation's democratic journey, introducing groundbreaking changes that promise to transform the electoral landscape. The recent meeting of the Central Election Commission unveiled several key innovations that will ensure greater efficiency, transparency, and inclusivity, making these elections a matter of global interest.

For the first time in the nation's history, the Legislative Chamber elections will employ a mixed electoral system, combining majoritarian and proportional representation. This change means that voters will elect seventy-five deputies directly, while another seventy-five will be chosen based on party votes. This system aims to create a more balanced and representative legislature, enhancing democratic legitimacy and ensuring a broader spectrum of political voices.

One of the most notable advancements in Uzbekistan's electoral system is the full digitization of election commission activities. The introduction of the 'E-Saylov' information system is a significant leap forward, revolutionizing the election process. This digital platform not only streamlines the process, reducing bureaucracy and document handling, but also ensures a smoother, more efficient, and transparent electoral experience. It automates interactions between election commissions, political parties, candidates, observers, and the media, providing real-time statistical data, candidate information, and interactive maps. This technological leap empowers voters with unprecedented access to essential election-related information, making the electoral process more inclusive and transparent.

Inclusivity is another cornerstone of these elections. New election legislation requires political parties to ensure that at least 40% of their candidates are women, a progressive move towards gender equality in political representation. This requirement not only aligns Uzbekistan with advanced democratic standards but also enriches the political discourse by incorporating diverse perspectives.

The elections are taking place in a context where the updated Constitution has significantly enhanced the powers of parliament and representative bodies. The Legislative Chamber's powers have increased from 5 to 12, and the Senate's from 12 to 18. Parliament's oversight functions over executive, judicial, law enforcement, and special services have also been expanded. Additionally, the leadership of local Councils of People's Deputies by hokims (governors) has been abolished, transferring 33 powers previously held by hokims to local Councils to increase their role in resolving critical state issues.

The slogan "My Choice—My Prosperous Homeland" not only captures the spirit of these elections but also reflects the unwavering commitment of Uzbekistan's leadership to democratic state-building and citizen empowerment. With over 120,000 election commission members, 70,000 citizens, and numerous international observers participating, the elections are set to be a transparent and inclusive process, further demonstrating this commitment.

In conclusion, Uzbekistan is setting a remarkable precedent with its upcoming elections by embracing technological innovation and inclusivity. These initiatives will undoubtedly pave the way for a more prosperous and democratic future, showcasing Uzbekistan’s dedication to advancing democratic principles and practices.

Eldor Tulyakov,

The Executive Director,

Development Strategy Centre (Uzbekistan)

The text of the article is in Uzbek!

In the modern history of New Uzbekistan, protecting the rights, freedoms, and legitimate interests of its citizens – wherever in the world they may be – has become not merely a constitutional obligation, but the highest expression of the state's humanity and responsibility. One of the most challenging yet strategically significant tests of this commitment has been the repatriation of compatriots from conflict zones in Syria, Iraq, and Afghanistan.

Uzbekistan was among the first countries in the world to shift from a policy of "estrangement" to one of "return and compassion," developing a distinctive rehabilitation model in the process.

The first such humanitarian operation was launched exactly seven years ago – on May 30, 2019 – on the personal directive of President Shavkat Mirziyoyev. During that mission, 156 Uzbek nationals – predominantly women and children – were brought home from war-ravaged Syria. It was a defining moment: for the first time, the state openly declared its readiness to embrace citizens who had gone astray.

That operation marked the beginning of a series of missions conducted under the collective name "Mehr" (meaning compassion in Uzbek). The core philosophy behind President Mirziyoyev's initiative is that Uzbek citizens who found themselves in conflict zones through misguided choices retain the right to state protection and the opportunity for a new life.

Each mission was unique in its logistics, risk profile, and the circumstances of those being brought home. The second operation, Mehr-2, carried out in October 2019, was notable for the evacuation of 64 children from Baghdad, Iraq – children whose mothers remained imprisoned abroad and for whom Uzbekistan assumed full guardianship.

In December 2020, despite the sweeping restrictions of the global pandemic, Mehr-3 rescued 98 women and children from the Al-Hol and Roj camps in Syria, where they had been living in dire sanitary conditions. Many of the children bore shrapnel wounds and suffered from serious chronic illnesses. The operation was conducted with technical support from the United States and international organizations.

Mehr-4, carried out in February 2021, focused on Afghanistan, securing the return of 24 citizens caught in the crossfire of that country's protracted war.

The final stage, Mehr-5, was completed in April 2021, bringing home 92 individuals from Syria – 24 women and 68 children, including 7 who were complete orphans. This operation also refined a rapid documentation protocol: birth certificates were issued to children directly at the airport, ensuring they received immediate legal status upon arrival.

In total, the Mehr operations have repatriated more than 530 individuals, approximately 75% of whom are children. The guiding principle throughout has been unequivocal: children cannot be held responsible for the choices of their parents.

Repatriation is far more than a logistical exercise – it is the complex process of transforming yesterday's outcasts into full members of society. The Uzbek model rests on five pillars:

1. Legal Restoration. One hundred percent of repatriates have been provided with official documentation. Every child born in a conflict zone has received a Republic of Uzbekistan birth certificate, granting access to healthcare and education.
2. Economic Empowerment. The state has ensured that no one is left to face hardship alone. Through subsidized credit schemes and vocational training programs, women have found employment and established small businesses within their local communities, achieving economic independence. Repatriates also receive assistance in recovering housing rights lost during their absence, or are provided with subsidized rental accommodation.
3. Inclusive Education. Repatriated children attend mainstream schools – not segregated facilities – and participate in academic competitions and sporting events alongside their peers. To date, approximately 10 repatriates, including women, are enrolled in higher education institutions, and 9 children have become winners or prize-winners in national and regional academic olympiads.
4. Spiritual Guidance. Representatives of the Committee on Religious Affairs, alongside respected theologians and imams of the Muslim Board of Uzbekistan, conduct preventive counseling sessions, introducing repatriates to the tenets of traditional Hanafi Islam as a counter-narrative to extremist interpretations. More than 90% of returnees have successfully adapted and lead secular lives.
5. Community Engagement Through the Mahalla. Neighbors and community activists within the mahalla (traditional neighborhood institution) play an essential role in helping families reintegrate, preventing stigmatization, and fostering an atmosphere of genuine support. Each family is assigned an experienced mahalla mentor who assists with everyday challenges and monitors the family's wellbeing.

The outcomes of Uzbekistan's repatriation program are recognized by the international community as one of the most successful humanitarian models in the world. The United Nations has officially recommended the "Uzbek model" as a roadmap for other governments. Former UN Under-Secretary-General Vladimir Voronkov has repeatedly highlighted it as an example of how a state can effectively combine justice with compassion.

Rehabilitation and reintegration initiatives have also been advanced at the regional level. At the high-level international conference "Regional Cooperation of Central Asian Countries within the Framework of the Joint Plan of Action for the Implementation of the UN Global Counter-Terrorism Strategy," held in Tashkent on March 3–4, 2022, President Mirziyoyev proposed the establishment, under the auspices of the UN Counter-Terrorism Office, of a Regional Expert Council comprising leading specialists from Central Asian countries.

The Council was launched in May 2024, embodying broad support for the collaborative implementation of comprehensive rehabilitation and reintegration programs for individuals returned from conflict zones. It comprises more than 40 highly qualified experts from across Central Asia, including representatives of law enforcement and judicial bodies, as well as psychologists, theologians, medical professionals, and social workers.

The project has gained further credibility through the participation of prominent international bodies, including the Organization for Security and Co-operation in Europe (OSCE), the Global Community Engagement and Resilience Fund (GCERF), and the International Institute for Justice and the Rule of Law (IIJ).

The Council's work has been presented at key UN platforms: in Geneva and New York on November 11 and December 10, 2024, respectively, and in Vienna on May 21, 2025.

Uzbekistan has demonstrated to the international community that repatriation is not a security risk – it is an instrument for strengthening security. International organizations are investing in Uzbekistan today not to remedy a problem, but to scale its success to other regions of the world.

The work with repatriates in Uzbekistan has now moved from a phase of emergency rescue to one of systemic integration. The country operates a well-functioning mechanism that combines state support with community oversight. The state ensures the full legal "erasure" of repatriates' past so that it does not obstruct their future. Where the early focus was on physical health, the emphasis has now shifted to mental wellbeing and civic identity. A repatriate in Uzbekistan in 2026 is a taxpayer, an active participant in mahalla life, and a parent whose children are building their futures within the country.

In contrast to those who chose to close their borders to their own citizens, Uzbekistan's leadership chose the path of responsibility. The country's experience affirms that when a state extends a hand, society grows stronger – and security becomes unshakeable.

Uzbekistan's motto in this sphere is clear: "Children cannot be terrorists" – and every Uzbek citizen will always remain under the protection of their homeland.

Timur Akhmedov,

Head of Department,

Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan

The Fifth Tashkent International Investment Forum will take place on June 16–19, 2026. This year’s theme – “Investment Resilience: New Frontiers, New Partnerships” – frames the agenda around a set of pressing questions: how to protect capital amid global uncertainty, what institutional mechanisms enhance investment resilience in frontier markets, and where the new partnership routes lie.

The forum’s context is set by macroeconomic results. According to the National Statistics Committee, Uzbekistan’s GDP grew by 7.7% in 2025 and exceeded $147 billion – the fastest pace since 2021 and among the highest in the Europe and Central Asia region. Fitch Ratings and S&P Global upgraded the country’s sovereign rating from BB– to BB for the first time, while Moody’s revised its outlook to “positive.” International reserves, per the Central Bank, surpass $77 billion. Exports rose 24% to $33.8 billion. Foreign direct investment increased by 46.9%, with FDI accounting for 40.5% of total capital investment. For an economy that attracted only $4 billion in annual foreign investment in 2017, the surge to $42 billion by 2025 represents a fundamentally different scale of growth. This tenfold increase over eight years underscores a profound transformation in the nation's investment landscape.

The forum is scaling alongside the economy. Last year’s TIIF drew over 8,000 participants, including some 3,000 international delegates from 97 countries. Guests included Bulgarian President Rumen Radev, Slovak Prime Minister Robert Fico, heads of government from all Central Asian states, EBRD President Odile Renaud-Basso, and New Development Bank President Dilma Rousseff. The aggregate value of signed investment contracts and trade agreements reached $30.5 billion. Yet what best speaks to the platform’s maturity is not the number of signings but the conversion rate – the share of agreements that translate into operating assets is increasingly the metric that matters to returning investors.

The centrepiece of this year’s forum will be the Tashkent International Financial Centre (TIFC), established by presidential decree in March 2026. Behind the headline sits a specific institutional architecture: a special legal regime based on common-law principles, a dedicated financial services regulator, an arbitration centre (TIAC), and tax exemptions through 2076. TIFC is part of a global trend toward specialised financial hubs that offer international market participants a familiar legal environment and regulatory predictability. Its defining feature is integration within the country’s legal framework: the centre operates under a special legal regime rather than creating a separate jurisdiction, reducing regulatory fragmentation and simplifying engagement with the domestic economy. A panel session featuring leaders of major global financial centres and international investors operating in Uzbekistan will address the central question: what are the practical conditions under which TIFC can attract international market participants.

The TIIF 2026 programme is structured around four thematic pillars: investment resilience and capital protection mechanisms, financial infrastructure and capital market development, trade connectivity and logistics corridors, and energy transition and climate finance. Key sessions include a discussion of the regulatory framework for alternative investment funds (a legal basis for private equity and venture capital being adopted for the first time), a panel on the Middle Corridor and trans-Caspian logistics, a session on sovereign ratings across Central Asia, and a practitioner-led workshop on blended finance instruments in frontier markets. A dedicated arbitration and dispute resolution track features two panel sessions co-organised with the Tashkent International Arbitration Centre (TIAC), the British-Uzbek Legal Association (BrULA), and the British Embassy. Topics range from the institutional design of Uzbekistan’s arbitration ecosystem – including the innovative Dispute Avoidance Protocol (DAP) – to the country’s positioning within the global investment protection architecture: ISDS frameworks, bilateral investment treaty reform, and New York Convention enforcement.

The energy agenda warrants particular attention. Uzbekistan has set an ambitious target of raising the share of renewables in electricity generation to 54% by 2030. Currently, the country operates solar and wind facilities with a combined installed capacity exceeding 4 GW, with a project pipeline envisaging an additional 19 GW of green capacity. Alongside this, the public-private partnership mechanism continues to develop: as of early 2025, PPP agreements worth approximately $28 billion had been signed in the country. For investors, this represents a large, structured market with standardised PPA contracts and a clear entry mechanism – a subject that will be examined in detail during the forum’s energy panel.

TIIF 2026 retains its bilateral business forum format, reflecting the expanding geography of Uzbekistan’s economic partnerships. Confirmed platforms include business forums with the Republic of Korea, the United States, Croatia, Hungary, Turkey, and Albania, as well as a China–SCO countries investment dialogue; the lineup continues to grow as the event approaches. The plenary session featuring heads of state and government will set the tone for the business programme. Running in parallel is an exhibition of industrial and investment potential spanning approximately 6,000 sq m – in 2025, a comparable facility facilitated over 500 B2B and B2G meetings for 100 participating companies.

At the same time, the forum agenda implicitly flags unresolved challenges. The corporate governance session raises the question of transitioning from concentrated to dispersed ownership – a process without which the stock market will remain illiquid. The discussion of privatisation and state asset IPOs calls for a candid conversation about pacing and institutional quality. The responsible business conduct panel, anchored in OECD standards, recognises that tax incentives alone are insufficient for accessing institutional capital – what is needed is verifiable supply chain transparency and functioning National Contact Point mechanisms.

The business programme is complemented by networking formats: an FIC and EY business breakfast on digitalisation and AI, the annual SQB Investor Day, an ESG Award ceremony, and the European Business Evening. The informal component – an invitational tennis tournament, TIIF Open, and an evening run – is designed for delegates who prefer to build relationships beyond the conference hall. The anniversary evening concludes with a collaboration with the Stihia electronic music festival – a detail that captures the tone in which Uzbekistan presents itself to an international audience.

For Uzbekistan, TIIF has long ceased to be a showcase. It is a working instrument of investment policy, whose effectiveness is measured not by the number of signing ceremonies but by the volume of capital that actually enters the economy between forums. The fifth, anniversary edition takes place at a moment when the country is simultaneously launching an international financial centre, adopting an alternative investment funds law, and receiving a sovereign rating upgrade – a convergence that creates a window of opportunity for investors prepared to operate in frontier markets with a growing institutional base.

At present, Uzbekistan is entering an entirely new stage of development, which is vividly demonstrated by the comprehensive reforms being carried out in all spheres. Profound transformations in domestic and foreign policy, socio-economic life, cultural and spiritual-educational fields are reflected in the lifestyle of our people.

At the initiative of the President of the Republic of Uzbekistan Shavkat Mirziyoyev, and based on the unity of the people, the “Uzbekistan – 2030” Strategy was adopted, serving as a solid legal and practical foundation for national renewal. The reforms implemented under this program create conditions for improving the well-being of citizens and ensuring the sustainable development of the state and society.

In recent years, special attention has been paid in our country to strengthening the atmosphere of mutual respect, solidarity and cooperation among various religious confessions, supporting intercultural dialogue, and ensuring peace and harmony, which has been widely recognized by the international community.

It is noteworthy that on 19 September 2017, at the 72nd session of the UN General Assembly in New York, the President of Uzbekistan Shavkat Mirziyoyev put forward an initiative which found its practical embodiment in the adoption, at the following session of the UN General Assembly in 2018, of a special resolution entitled “Enlightenment and Religious Tolerance”. The draft prepared by Uzbekistan was unanimously approved by all UN member states.

This resolution gained particular significance as it placed education and enlightenment at the forefront as an effective means of countering global threats – extremism and terrorism – especially at a time of growing intolerance and uncompromising attitudes towards representatives of different religions and beliefs.

As a logical continuation of this work, in 2022 the international forum “Dialogue of Declarations” was held with the aim of implementing the principles and provisions of the resolution “Enlightenment and Religious Tolerance”, as well as achieving the goals of the National Human Rights Strategy of the Republic of Uzbekistan, approved in 2020.

The main outcome of this meeting was the adoption of the “Bukhara Declaration,” which supplemented earlier declarations adopted in Marrakesh, Mecca, Jakarta, Potomac and Punta del Este. This document became an important contribution of Uzbekistan to strengthening the ideas of religious tolerance and interethnic harmony at the international level.

It is important that this dialogue has become a regular tradition: on 10–13 September of this year, the second international forum “Dialogue of Declarations” is scheduled to take place in Tashkent and Samarkand.

This forum represents an integral part of the international community’s efforts to ensure freedom of religion and to strengthen interfaith dialogue, as well as a demonstration of Uzbekistan’s readiness to actively promote at the global level its firm adherence to international obligations in the field of human rights and freedoms.

It should be emphasized that while in many parts of the world fundamental rights – to life, education, work, self-realization, and freedom of religion – are being violated, in Uzbekistan representatives of more than 130 nationalities and 16 confessions live peacefully on the basis of tolerance. The ability of people of different faiths to freely and safely perform their religious rites is a key factor of social stability.

Currently, there are 2,373 registered religious organizations in Uzbekistan, of which 2,174 are Islamic and 199 are non-Islamic. Over the past eight years, 130 religious organizations have been registered, including 3 higher and 1 secondary special Islamic educational institutions, 105 mosques and 25 non-Islamic organizations of various confessions.

The legal foundation for these transformations is the Concept of State Policy on Ensuring Freedom of Conscience of Citizens and in the Religious Sphere, adopted by the Law of the Republic of Uzbekistan No. 1037 of 25 February 2025.

The Concept affirms the right to freedom of conscience and the constitutional principle of the secular nature of the state, and defines the goals, objectives, principles and priority directions of state policy in the religious sphere. It was developed on the basis of the rich national-historical experience of statehood and universal values, and is aimed at ensuring a stable environment for the progressive development of Uzbekistan’s multiethnic and multi-confessional society on the basis of democracy, secularism, freedom, equality, social justice and solidarity.

Within a short period, major scientific and educational institutions were established, such as the Center of Islamic Civilization in Uzbekistan, international research centers named after Imam Bukhari, Imam Maturidi, Imam Termizi, Bahauddin Naqshband, the International Islamic Academy of Uzbekistan, the School of Hadith Studies in Samarkand, and the Mir Arab Higher Madrasa in Bukhara.

These institutions contribute significantly to ensuring a healthy spiritual environment in society, educating the younger generation as modern-minded individuals worthy of their great ancestors, in line with the noble universal idea “Enlightenment against Ignorance”.

If in 2017 the country had only 3 higher (1 Islamic and 2 non-Islamic) and 9 secondary special religious educational institutions, today their number has reached 16, of which 6 are higher institutions.

To further develop this sphere and elevate it to a new stage, a Presidential Decree “On measures to further strengthen guarantees of the right of citizens to freedom of conscience and to bring reforms in the spiritual-educational sphere to a new level” was signed. This document was positively received not only by representatives of the religious-educational sphere, but also by the wider public.

It is also worth noting that in recent years anniversaries and events of non-Islamic confessions have been held at a high level, alongside Islamic ones. These include the 145th (2017) and 150th (2021) anniversaries of the Russian Orthodox Church Diocese of Tashkent and Uzbekistan, the 120th anniversary of the Armenian Apostolic Church (2023), the 25th (2018) and 30th (2023) anniversaries of the Bible Society of Uzbekistan, the 200th anniversary of the birth of Baha’u’llah (2017), the 200th anniversary of the birth of the Bab (2019), and the 100th anniversary of the passing of ‘Abdu’l-Baha (2022). These events are vivid examples of peace and tolerance in our country.

At the same time, special attention has been paid to enabling believers of various religions to make pilgrimages abroad. In particular, nearly 500,000 citizens have performed Hajj and Umrah, and more than 10,000 people have visited holy sites in Israel, Russia, Georgia, Turkey and other countries.

In conclusion, it should be noted that for thousands of years Uzbekistan has been an integral part of the Great Silk Road, making a worthy contribution to the development of world civilization. Trade, science and cultural centers here have always flourished, while tolerance, hospitality and respect for representatives of different cultures have been key factors of progress.

Today, the traditions and customs of different peoples in Uzbekistan continue to develop in harmony. The consistent policy in the spiritual-educational sphere pursued under the leadership of the President of the Republic of Uzbekistan Shavkat Mirziyoyev serves as an important foundation not only for ensuring peace, stability and harmony in our country, but also for their promotion globally.

The broad participation of representatives from different countries in the upcoming second international forum “Dialogue of Declarations” is clear evidence of the high international recognition of Uzbekistan’s state policy in ensuring freedom of religion and interfaith harmony.

Davronbek Maksudov,

First Deputy Chairman

of the Committee on Religious Affairs

“Uzbekistan - 2030” strategy, adopted on 11 September 2023, identifies sustainable economic growth, the establishment of modern education, healthcare and social protection systems, creation of favorable environmental conditions, building a just and modern state and guaranteed national sovereignty and security as its priority areas. At the core of all reforms is the aim to increase citizens’ welfare, strengthen public trust in the state and ensure confidence in the future. The strategy represents a shift from goal-setting to results-based management, with clear accountability, measurable outcomes and linked financing.

Since its adoption, Uzbekistan has achieved significant progress. Between 2023 and 2025, nominal GDP rose from USD 107.5 billion to USD 140 billion, while exports, foreign investment and innovative activity also grew. Social indicators reflect the reforms’ impact: unemployment fell from 6.8% to 4.9% and poverty decreased from 11% to 6.8%.

What are the reasons for updating the “Uzbekistan - 2030” Strategy?

The need to accelerate the country’s further development has prompted the update of the strategy and its target indicators. The “Uzbekistan - 2030” Strategy has been revised in light of both external and internal factors.

External factors include the global geopolitical environment, international economic trends, technological innovations, environmental and natural changes and the growing demand for energy and water resources. Internal factors encompass demographic growth, urbanization and migration, which require strengthening institutional quality and improving governance efficiency.

In response to these challenges, a draft of the “Uzbekistan - 2030” Strategy for 2026-2030 has been developed and published for nationwide public discussion.

Within the updated Strategy, while retaining the same five priorities and 100 goals, certain tasks and performance indicators have been revised. Many of the previously established targets have already been achieved and new objectives have been added, resulting in an expanded and updated set of performance indicators. Moreover, the document specifies the responsible ministries and agencies as well as the concrete funding sources required to achieve each goal.

In which areas do the reforms provide “mechanisms for change”?

Economy. The largest number of tasks and performance indicators fall under “II. Ensuring the well-being of the population through sustainable economic growth.” The Strategy sets a target GDP of USD 240 billion by 2030 through measures such as maintaining annual inflation at 5–6%, ensuring fiscal stability, enhancing the country’s investment attractiveness, efficiently utilizing domestic raw materials and developing high-tech-based industry and services. The plan also emphasizes deepening Uzbekistan’s integration into global transport and logistics networks and strengthening the export potential of the national economy.

Transitioning to a green economy, transforming the country into a regional “IT HUB” through digital technology development, increasing competition in the banking sector, creating the most favorable conditions for entrepreneurial activity and implementing comprehensive regional development will generate new jobs, ensure employment and increase citizens’ incomes. These measures are expected to reduce poverty, enhance overall well-being and stimulate the growth of key economic sectors, particularly construction, tourism and the service industry.

Education. The Strategy also aims to create favorable conditions for realizing the potential of the youth as well as developing the education and healthcare sectors. Under “I. Creating dignified conditions for the realization of each person’s potential,” performance indicators have been established to achieve goals by 2030, such as ensuring that 50% of graduates from general education schools and academic lyceums receive higher education and secure employment in sectors offering fair wages. Additionally, the inclusion of 10 higher education institutions in the global top-1000 rankings (QS, THE, ARWU) will enhance the competitiveness of Uzbek youth not only in domestic labor markets but also internationally.

The implementation of a cluster system “enterprise – university – research organization” will contribute to the expansion of innovative products in the economy’s “driver” sectors. The Strategy envisions the creation of spin-off type production clusters at higher education institutions to accelerate the process of integrating scientists’ research ideas into economic practice in areas such as transport and logistics, agricultural production, energy, biotechnology, geology and metalworking, mechanical engineering and electronics. Developing science, especially among youth, will improve Uzbekistan’s position in the Global Innovation Index and enable the country to enter the list of the top 60 most innovative nations worldwide.

Health. It is often said that a person’s education reduces health risks and increases life expectancy, while health - physical, mental and social - is the foundation for a full life and self-realization. The Strategy sets goals for the next five years to increase the average life expectancy of the population, reduce premature mortality from cardiovascular diseases (ages 30–69), cancer and respiratory diseases and decrease the incidence of life-threatening congenital defects in newborns. In maternal and child healthcare, nine performance indicators have been established. The Strategy also prioritizes promoting healthy nutrition and lifestyles among the population and reducing adult obesity rates.

Social Protection. For vulnerable segments of the population, the state will continue its policy of fundamentally improving the system of professional social services, establishing a new support system for persons with disabilities and creating a comfortable and favorable environment for them. For children left without parental care, 100% implementation of alternative, non-institutional forms of care will be ensured and for children with special educational needs, coverage by inclusive education will be increased.

The state pays special attention to the expansion of women’s rights and opportunities. Different cultures have diverse perceptions of the roles of men and women, shaped by history, religion and traditions. At the same time, globalization and potential prospects for the country’s development require the implementation of policies ensuring gender equality and increasing the social and political activity of women. The draft Strategy includes tasks such as expanding the number of women trained in professional and entrepreneurial skills, increasing the number of women actively using information and communication technologies, raising the share of women in leadership positions to over 30 percent, and regulating family relations in households experiencing conflict or on the verge of divorce.

Ecology, Law and Security. The priorities of “Conservation of water resources and environmental protection”, “Ensuring the rule of law and organizing public administration oriented toward serving the people” and “Consistent continuation of a policy based on the principle of a safe and peaceful state” are also included in the Strategy, with specific tasks and performance indicators outlined.

Mechanisms for Achieving Goals for Each Priority

The mechanisms for achieving goals under each priority are reflected in strategic documents. For example, to implement the objectives of the priority “Conservation of water resources and environmental protection”, the National Climate Strategy for Climate Change Mitigation and Adaptation and the Strategy for Industrial Waste Management have been developed.

To develop the driver sectors of the economy and achieve GDP growth to 240 billion dollars by 2030, sectoral strategies have been formulated: Strategy for the Development of Industry of Uzbekistan, Strategy for the Development of the Automotive Industry, Strategy for the Development of Light Industry, Strategy for the Development of the Building Materials Industry, Strategy for the Development of the Jewelry Industry, Strategy for the Development of Tourism in Uzbekistan, Strategy for the Modernization, Accelerated and Innovative Development of the Construction Sector and others.

The development and implementation of strategic documents at the regional level will allow achieving goals and objectives in a comprehensive and targeted manner. For instance, Strategies for Comprehensive Development of All Spheres by 2030 in each region of the country consider socio-economic development through the lens of the local economy and the well-being of the population. The development of such documents involves not only local authorities but also leading ministries and agencies, including the Ministry of Economy and Finance, Ministry of Investments, Industry and Trade, Ministry of Agriculture, Ministry of Digital Technologies, Ministry of Employment and Poverty Reduction, Ministry of Energy, National Committee on Ecology and Climate Change and others.

The development of sections of the Strategy involved national think tanks, such as the Institute of Macroeconomic and Regional Research, Center for Economic Research and Reforms, etc. This demonstrates that Uzbekistan implements a scientifically grounded policy (evidence-based policy), where decision-making in various spheres - economy, social policy, ecology, law and security - is based on scientific data, forecasts and expert assessments to achieve medium- and long-term goals.

Key expected outcomes until 2030 (macro outcomes)

The main outcomes of the updated “Uzbekistan – 2030” Strategy are expressed through economic, social, environmental, and other indicators. In the economic sphere, it is expected to achieve macroeconomic stability and sustainable GDP growth up to USD 240 billion, transform the country into a regional “IT HUB” and enter the top 60 most innovative countries in the world, deepen the republic’s integration into global transport and logistics networks and strengthen the export potential of the national economy. Creating a favorable business climate and sustainable jobs as well as ensuring employment for the population, will help reduce income inequality and poverty, with the elimination of absolute poverty based on minimum consumer expenditure and reducing its level to zero percent.

In the social sphere, Strategy provides for creating decent conditions to realize the potential of young people and improving education and healthcare, reflected in target indicators such as increasing life expectancy to 78 years, achieving 80% coverage of children in kindergartens, and 50% coverage in higher education. It also aims to enhance the quality of university education, include 10 higher education institutions in the TOP-1000 rankings of the world’s most prestigious universities (QS, THE, ARWU) and implement a cluster system connecting enterprises, universities and research organizations.

In the environmental sphere, the Strategy envisions continuing the transition to a green economy, introducing green energy technologies, constructing buildings that meet “green” standards, promoting a culture of rational water use, developing water-saving technologies, preventing air pollution and mitigating the negative impacts of climate change.

Doctor of Economic Sciences, Professor D.M. Karimova

Institute of Macroeconomic and Regional Studies

Republic of Uzbekistan