The first meeting of the Termez Dialogue on Connectivity between Central and South Asia, dedicated to the theme "Building a Common Space for Peace, Friendship, and Prosperity," will be held in Termez on May 19-21, 2025. This meeting is expected to be attended by representatives of the foreign policy agencies of Central and South Asian countries, which are becoming the focus of world politics, as well as representatives of specialized UN organizations, international and regional organizations such as the CIS, the SCO, the CICA, and leading specialists and experts in relevant fields.

Central and South Asia have long been connected by reliable trade routes and have served as a bridge between the countries of the Middle East, Europe, and China. The peoples of this region share historical and civilizational commonalities, having repeatedly existed within common state associations in the past, as well as within a single political, economic, and humanitarian space. Over many centuries, relations between the two regions have been strengthened by numerous migration flows, intensive trade exchanges, rapid dissemination of scientific ideas, and cultural cross-pollination.

As a result of the spread of Zoroastrianism, Hinduism, Buddhism, and Islam in these regions, unique ethnocultural associations formed, which left a deep mark on human history.

The incorporation of the peoples of this region into such states as the Bactrian and Kushan kingdoms, the Turkic Khaganate, Khorasan and Transoxiana, the Ghaznavid, Timurid, and Mughal empires had a great influence on their historical, cultural, and political development. Common customs, traditions, lifestyles, and holidays were formed; spiritual values were created in Persian, Turkish, and Arabic. Medieval cities such as Bukhara, Samarkand, Termez, Balkh, Herat, Ghazni, Agra, and Delhi were shared centers of science.

The mutual competition of colonial powers negatively affected the traditional ties, trade, and cultural exchange of the peoples of Central and South Asia. Trade and economic relations in South Asia changed, and local supply systems, main industries, and economies became dependent on supplies from outside the region. This development weakened the traditional cultural ties between South Asia and Central Asia.

Today, jointly addressing existing problems that threaten peace and stability in the region is one of the important factors in the social, cultural, and economic development of these countries. Therefore, the renewal of their close historical ties is becoming increasingly relevant. Taking the above into account, the Termez Dialogue on the Connectivity between Central and South Asia is being organized.

The location chosen for the dialogue is connected to the geostrategic position of this city, situated at the crossroads of Central and South Asia, or at the intersection of interregional connectivity routes. Termez has long been a center of trade, economy, and crafts, serving as a link between the vast regions of Central and South Asia. Therefore, from a geopolitical perspective, the city can be considered a "natural bridge" connecting Central and South Asia, the most suitable place for bringing the peoples of the region closer together through its historical location and cultural heritage.

Currently, the countries of Central and South Asia represent a territory of global significance, with a population of more than 2 billion people and great educational potential. The region is experiencing high demographic growth, with the majority of the population consisting of young people, and there are enormous opportunities for realizing intellectual potential. While the population of South Asian countries is about 2 billion people, the number of people living in Central Asia is about 82 million, and the population of Central Asian states is growing year by year. The countries exhibit a "disparity in literacy levels." For example, among the leading countries of Central Asia, the average adult literacy rate is 99 percent, while in South Asia it is 74 percent.

One of the pressing problems is the uneven quality of education, insufficient coverage of preschool and higher education, especially among girls and residents of remote areas. In South Asia, youth unemployment remains high, and in some countries, this figure exceeds 40 percent. At the same time, the employment rate of women is one of the lowest in the world. In addition, the infrastructure of educational systems is not sufficiently developed, and the shortage of specialists and teacher qualifications also creates a number of problems.

In this context, cooperation in the field of science and education is becoming increasingly relevant. Scientific cooperation in the context of digitalization and geopolitical instability will allow for maintaining dialogue between academic circles. At the same time, limited academic mobility and weak coordination between scientific communities significantly hinder the development of states' potential in science, innovation, and technology.

In this regard, it is necessary to encourage joint research and innovation work, the organization of scientific and educational internships, experience exchange programs, the development of startups, and the holding of competitions.

The adoption of a joint program of academic and research exchanges under the auspices of UNESCO is becoming relevant. It is also necessary to launch an online platform between universities and research structures of the countries of Central and South Asia.

This will contribute to the creation of a sustainable regional network of scientific diplomacy, the formation of a common agenda in the field of education and technology, and the emergence of a unified scientific space.

The above-mentioned steps will serve as a powerful tool for the development of scientific diplomacy, which will facilitate interaction between the countries of the two regions.

From this point of view, the integration of intellectual resources in Central and South Asia, strengthening cooperation in the field of education, and developing cooperation platforms to improve the quality of education are important for the future of the region. The transformation of demographic potential into human capital is the main condition for sustainable development, economic growth, and a worthy place in global competition for both regions. In this regard, the development of education as one of the priority areas of regional cooperation, the development of partnerships for the exchange of experience and training of personnel in various countries is most relevant.

The countries of the region, in particular India and other South Asian countries, have in recent decades been occupying an increasingly prominent place in the world community in the field of science, technology, and innovation. Information technology, aeronautics, pharmaceutical production, and artificial intelligence are rapidly developing in India. For example, in 2014, the Indian Space Research Organisation (ISRO) made history as the first Asian country to launch an artificial satellite into Mars orbit. In 2023, as part of the "Chandrayaan-3" project, a successful landing on the Moon's surface was achieved. These results demonstrate the country's independent and innovative capabilities in the scientific field.

In the field of information technology, India has become one of the world's largest IT outsourcing centers. Cities such as Bangalore, Hyderabad, Pune, and Chennai have become major hubs for Google, Microsoft, Amazon, IBM, Oracle, and many other multinational corporations. Every year, millions of specialists in technical and technological fields are trained in the country. Among India's higher education institutions are prestigious scientific centers like the Indian Institutes of Technology (IITs) and Indian Institutes of Science (IISc), which also rank highly in global ratings. It's worth noting that scientific research in artificial intelligence, bioengineering, quantum computing, and cybersecurity is widespread in the country.

Pakistan is also making progress in science, especially in nuclear energy and military technologies. Centers such as COMSATS University and the Pakistan Institute of Engineering and Applied Sciences (PIEAS) play a crucial role in the country's scientific development. In particular, government programs are being implemented to strengthen international cooperation in IT and cybersecurity.

In Bangladesh, alongside the textile and light industry, information technology is developing rapidly. Based on the "Digital Bangladesh" strategy, the country has widely implemented e-government, digital, and distance learning services. In 2021, over 120 IT parks were established in Bangladesh, demonstrating the country's commitment to digitalizing its economy.

Afghanistan's scientific and technological potential remains limited, and issues related to political stability are hindering its development. Nevertheless, some universities and educational institutions in the country, particularly Kabul University, participate in scientific projects with the support of various international educational organizations.

In this context, developing a joint strategy for digital connectivity between Central and South Asia is crucial. Adopting such a document will create significant opportunities for stimulating trade and investment, improving access to education and healthcare, strengthening regional cooperation, and increasing competitiveness on the global stage.

Coordinating efforts of Central and South Asian countries to widely implement the digital economy will contribute to improving digitalization processes in all spheres of life. Moreover, this will advance the implementation of the SDG initiative to ensure safe Internet access for the population and will open up great opportunities for education and medical services.

Overall, deepening digital connectivity between Central and South Asia will bring significant economic and social benefits to both regions, create a solid foundation for expanding trade, economic, energy, and transport links, and enhance the competitiveness of the region's states on the global arena.

In general, the Termez Dialogue is an important initiative that contributes to elevating the interaction between Central and South Asian states to a new level in the process of today's geopolitical and civilizational transformations. This dialogue, particularly in the fields of education, science, and new technologies, will stimulate, consolidate, and expand the intellectual potential of the two regions. This is because in both regions, the majority of the population consists of young people who show high interest in education, are capable of scientific research, and quickly adapt to digital technologies.

Today, countries such as India, Pakistan, and Bangladesh have achieved world-class successes in information technology, biotechnology, nuclear physics, medicine, and artificial intelligence, while Uzbekistan, Kazakhstan, and other Central Asian countries are also taking active measures to update scientific infrastructure, expand international cooperation, and implement modern educational projects. The Termez Dialogue is a unique opportunity to combine this experience and achievements, establish student and scholar exchanges, create joint research centers, and develop startups and innovative platforms in IT and STEM.

This dialogue has great historical significance in ensuring regional stability, creating a foundation for peace, progress, and intellectual development through science and education. The states of Central and South Asia have the potential to become the leading intellectual center in the entire Eurasian space based on the principle of mutual trust and shared future, integration in the spheres of education and science.

Esteemed Heads of Delegations!

Once again, I would like to express my gratitude to the President of the Republic of Kazakhstan, esteemed Kassym-Jomart Tokayev, for the warm welcome and excellent organization of the Summit in Astana.

We are highly estimate Kazakhstan’s effective chairmanship of the SCO, which has facilitated the expansion of multifaceted cooperation within the Organization.

It is a great honor to have with us the heads of observer-states and dialogue partners, esteemed guests.

Dear Participants of the Meeting!

I believe that a meeting in the broad format of SCO Plus is timely and necessary.

The world needs to restore trust, justice and solidarity more than ever.

The current global political and economic landscape is characterized by fractures, wars, and conflicts that are undermining the foundations and key principles of the system of international relations.

The contradictions and protectionism that have emerged are creating fragmentation of the world economy and supply chain disruptions, which are in turn creating new dividing lines that prevent countries from cooperating effectively in trade, finance and investment, technology transfer and innovation.

The only viable solution to these challenges is to consolidate efforts in the interest of global security, development, and prosperity.

The SCO has always advocated for and has been committed to a just world order based on the universally recognized principles of international law and multilateralism, with the UN playing a central coordinating role.

In this regard, our Organization continues to serve as a focal point for many countries seeking to build broad cooperation without political and ideological biases.

Concurrently, the evolving circumstances necessitate the implementation of new strategic approaches to enhance the efficacy of the Shanghai Cooperation Organization.

Today, as it stands on the threshold of its 25th anniversary, it is imperative to develop a new agenda that aligns with the Organization’s immense potential and growing role in world politics and economy.

Building on the “Shanghai Spirit” and the founding principles of the Charter, unity and cohesion within the Organization should be preserved. I propose to intensify joint efforts with the objective of strengthening the atmosphere of trust and friendship within the SCO and to remove barriers to deeper cooperation.

First of all, it is necessary to undertake a comprehensive reevaluation of the conceptual foundation underpinning the SCO’s security-related activities.

The nature and scope of contemporary challenges have undergone a significant transformation since the establishment of the Organization.

Environmental and natural disasters, water and food shortages, cyberattacks, new methods of undermining sovereignty and economic stability pose an increasing threat.

All of this should also be taken into account when considering the strengthening of the SCO's potential, including the establishment of the Universal Center for Countering Security Threats and Challenges.

In this context, I propose to hold annually SCO Plus Dialogue on Security Issues with the participation of the heads of the competent bodies and experts of all our countries.

Uzbekistan proposes to consistently “reload” trade and economic cooperation in the SCO area, which continues to be fragmented.

So far, we could not manage to create a solid foundation for multilateral trade and inter-sectoral partnership.

For a long time, no consensus has been reached on the establishment of the SCO Development Fund and the SCO Development Bank.

Today at the summit we agreed to take comprehensive measures to simplify trade procedures and develop e-commerce, stimulate technological cooperation, including in the industries of the future.

In order to create an effective platform for business dialogue with the participation of all partners, we propose the annual holding of the SCO EXPO International Industrial Exhibition in our countries.

It is also important to actively promote economic interaction and seek opportunities for linking joint initiatives with the Economic Cooperation Organization, the Gulf Cooperation Council, the Eurasian Economic Union, ASEAN and others.

The new geopolitical realities convince us of the need to build an inclusive and integrated transport and transit system to strengthen interregional connectivity.

The global problems such as climate change and environmental disasters cannot be ignored by the Organization. Our countries are increasingly facing natural disasters, land degradation, reduced agricultural yields, air pollution and water shortages.

I believe that climate cooperation should become a key element of the new SCO agenda.

We advocate for developing an Agreement on cooperation in combating climate change, with concrete measures to achieve common goals and objectives in the area of green development.

We are also proposing the establishment of the SCO Center for Innovative Climate Solutions in Tashkent. It will conduct research on environmental sustainability and “green” growth.

Improving livelihoods and social protection should be given a central place on the Organization’s agenda.

We intend to hold a Global Conference on Sustainable Social Protection in Samarkand next year, under the auspices of the United Nations, as a contribution to achieving the goals Summit of the Future.

Finally, we need to strengthen and promote together a unique model of inter-civilizational dialogue.

The rich cultural, historical and spiritual heritage, traditions, customs and ways of life of our peoples are a powerful and resilient force for building bridges of mutual trust, good-neighborliness and lasting friendship.

This is the message contained in the recent UN General Assembly resolution on the International Day of Dialogue among Civilizations, adopted at our joint initiative.

In this context, the Samarkand Solidarity Initiative for Common Security and Prosperity, which we have put forward, aimed at overcoming the trust deficit through constructive dialogue and multilateral partnership, is more relevant than ever.

The practical implementation of this initiative will contribute to strengthening inter-civilizational dialogue to overcome contradictions on the path to sustainable development.

I am confident that together we can make the Organization even more creative through the implementation of programs in the area of cultural, educational, youth and tourist exchanges.

To this end, we propose to develop a Unified Bank of SCO Humanitarian Initiatives and Programs, which will enable projects in these areas to be systematized and jointly implemented.

I am convinced that the outcomes of this meeting will give a strong impetus to the development of a multifaceted partnership within the Shanghai Cooperation Organization.

Thank you for your attention.

In October, the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, will pay a visit to the Kingdom of Belgium, during which important decisions are expected to be made that will mark a qualitatively new stage in relations between Uzbekistan and the European Union. In particular, the visit will feature the signing of the Agreement on Enhanced Partnership and Cooperation.

In recent years, Uzbekistan has been actively shaping a new framework of engagement with Europe – a key pillar of stability amid current geopolitical tensions and global economic uncertainty. The ties between Uzbekistan and European countries continue to grow, and the areas of cooperation are diversifying, supported by the ongoing reforms in Uzbekistan.

Building a New Chapter in Relations

After gaining independence, Uzbekistan’s relations with the European Union developed dynamically. A Memorandum of Understanding between the Government of Uzbekistan and the European Commission was signed in 1992, followed by the establishment of diplomatic relations in 1994. The foundation of cooperation was laid by the Partnership and Cooperation Agreement (PCA) signed in June 1996 and entering into force in 1999. However, at a certain stage, cooperation faced difficulties due to the insufficient pace of democratic reforms in Uzbekistan.

With the election of Shavkat Mirziyoyev as President, the situation changed dramatically. As early as 2017, during his visit to Tashkent, Stefano Manservisi, Director-General for International Cooperation and Development of the European Commission, stated that “the EU regards Uzbekistan as a strategic partner.” The sweeping democratic and economic reforms launched in Uzbekistan helped resolve within a short period many issues that had long remained unsolved. Forced labor was completely eradicated, and reforms in the cotton sector enabled the country to abandon raw cotton exports altogether.

As reforms advanced, the legal and institutional framework of relations with Europe expanded rapidly. While previously Uzbekistan and the EU granted each other most-favored-nation treatment under the PCA, in April 2021 the EU granted Uzbekistan GSP+ beneficiary status, and in 2022 the Enhanced Partnership and Cooperation Agreement (EPCA) was initialed.

Along with internal transformation, Uzbekistan’s foreign policy architecture also changed. Priority was given to closer cooperation with neighboring Central Asian states, as well as the active expansion of ties with European countries – a vector that has strengthened steadily in recent years.

Just in the past year, Uzbekistan established strategic partnership relations with France, Italy, and Slovakia, while discussions on expanding strategic cooperation with Hungary continued. President Mirziyoyev also visited Slovenia, and Italy’s Prime Minister and Bulgaria’s President visited Uzbekistan.

A milestone in strengthening relations between Uzbekistan and Europe, and between Europe and Central Asia as a whole – was the first EU–Central Asia Summit, held in Samarkand in April 2025 under the chairmanship of Shavkat Mirziyoyev. Uzbekistan presented a broad range of initiatives to create a new model of regional cooperation between Central Asia and Europe, including: a multilateral agreement on investment protection and promotion; the launch of a Central Asia–EU Joint Chamber of Commerce; the adoption of a regional support program for SMEs and women’s entrepreneurship; the establishment of an investment platform to promote regional projects in green energy, innovation, transport, infrastructure, and agriculture.

The Samarkand Summit was highly productive. A Joint Declaration was adopted, establishing a strategic partnership between the two regions in trade, transport, energy, digital connectivity, and water management. European Commission President Ursula von der Leyen announced that the EU had prepared a €12 billion investment package for Central Asia under the Global Gateway initiative.

The Trajectory of Economic Cooperation

Uzbekistan’s deep democratic transformations have significantly improved relations with European countries. Economic reforms have enhanced the competitiveness of Uzbekistan’s economy, stimulating investor confidence and growing interest from European businesses.

The results are impressive. Over the past 8 years, Uzbekistan’s GDP has doubled, reaching $115 billion in 2024. Since 2017, investment in fixed capital has totaled $240 billion, of which foreign investment exceeded $130 billion. The country’s foreign exchange reserves surpassed $48 billion for the first time in history. Structurally, the share of industry in the economy increased from 20% to 26%, and services from 44% to 47%. Labor productivity (GDP per employed person) rose by 45%.

As a result, opportunities for mutually beneficial cooperation between Uzbek and European businesses have expanded. Between 2017 and 2024, Uzbekistan’s trade with the EU increased 2.4 times to $6.4 billion; exports grew 3.6 times to $1.7 billion, and imports 2.2 times to $4.7 billion. In 2024, the EU’s share in Uzbekistan’s total trade turnover was 9.7%, in exports 6.3%, and in imports 12%. The EU ranked third among Uzbekistan’s trade partners, after China and Russia.

The EU’s share in Uzbekistan’s total exports increased from 3.8% to 6.3% over the same period. This growth was driven by Uzbekistan’s accession to the GSP+ preferential trade system, granting duty-free access to the EU market across roughly 6,200 tariff lines. The share of Uzbekistan’s exports benefiting from GSP+ reached 59%, with a preference utilization rate of 84%, indicating efficient use of trade benefits.

In 2024, Uzbekistan’s exports to the EU were dominated by chemical products (52.1%), as well as textiles, ferrous and non-ferrous metals, minerals, and food products. Among EU members, France accounted for 47.2% of exports, Lithuania for 10%, and Latvia for 6.9%.

Uzbekistan’s imports from the EU significantly exceeded exports – a reflection of the ongoing technological modernization of the national economy. Around 16% of Uzbekistan’s total imports of machinery, equipment, and transport vehicles come from EU countries.

Investment cooperation is also expanding rapidly. In 2024, foreign investments and loans from EU countries and their financial institutions increased by 77%, reaching $4.1 billion (compared to $2.3 billion in 2023). The most active investors were Germany ($1.37 billion), the Netherlands ($1.05 billion), Cyprus ($858.9 million), the Czech Republic ($137.8 million), Italy ($99.8 million), and Sweden ($97.5 million). Today, around 1,000 enterprises with EU capital operate in Uzbekistan, with a total project portfolio of €30 billion.

A special role in recent years belongs to the EBRD, of which Uzbekistan has become one of the largest beneficiaries. The Bank’s total investments in Uzbekistan’s economy exceeded €5 billion, including around €1 billion in 2024, primarily directed toward the private sector.

Reforms in Uzbekistan have become the key driver for unlocking the significant potential of trade and economic cooperation with the European Union.

Uzbekistan–Belgium

The upcoming visit will also focus on strengthening relations between Uzbekistan and Belgium. Diplomatic relations were established following the opening of the Embassy of Uzbekistan in Brussels in 1993. In 1996, the two countries signed an Agreement on avoidance of double taxation, and in 1998 – an Agreement on mutual protection and promotion of investments, which provide legal guarantees for investors in both states.

Business contacts have intensified in parallel with Uzbekistan’s reform agenda. The visits of 2019 and 2022 set the tone for cooperation in infrastructure, energy, and the digital economy. More important than the current trade volumes has been the recognition and support of Uzbekistan’s reforms by EU partners, laying the foundation for long-term engagement.

In 2024, bilateral trade amounted to $62.3 million, including $7.3 million in Uzbek exports and $55 million in imports. Investment cooperation is gaining momentum: several dozen companies with Belgian capital now operate in Uzbekistan, including wholly owned enterprises. New technologies are being localized, for example, Jaga Climate Designers is participating in a joint venture for heating and ventilation systems, and Picanol Group is localizing the assembly of high-tech textile machinery. Belgian brands Belcolade and Prefamac are exploring opportunities to launch chocolate production with subsequent localization.

Despite modest trade volumes, there is significant potential for expanding cooperation in several areas. Given Belgium’s leading role in pharmaceuticals and biomedical research and Uzbekistan’s growing pharmaceutical market, joint ventures or industrial clusters could be developed in this sector, involving companies such as UCB and Janssen Pharmaceutica.

There is also strong potential for joint fruit and vegetable processing projects in Uzbekistan, targeting exports to the EU via Belgian logistics hubs such as the Port of Antwerp and wholesale markets. Potential partners include Greenyard and Puratos. Direct seasonal exports of fresh fruits (e.g., grapes in autumn and winter), as well as dried vegetables, spices, and organic products, could also be expanded. In light industry, there is room to increase exports of ready-made knitwear and home textiles, provided European quality and safety standards are met. The market potential is evident – Belgium imported about $7.9 billion worth of clothing in 2024.

The main challenges remain logistics and standards. Belgium functions as a major EU maritime hub centered around Antwerp, while direct routes from Uzbekistan are still limited. The near-term priority should be pilot supply chains ensuring quality and traceability, the development of cold logistics, certification under EU technical and sanitary regulations, the use of Benelux consolidation hubs, and trade finance tools for SMEs. With the gradual development of new overland routes along the Middle Corridor, Uzbekistan will gain a stronger foothold in high value-added exports without higher costs or delivery delays.

Conclusion

Uzbekistan is entering a stage of deepened economic cooperation with the European Union. During the ongoing modernization and digital transformation of its economy, European investment, technology, education, and research experience can play a key role. At the same time, Uzbekistan seeks to expand exports of industrial goods as their quality improves.

Uzbekistan is also a rapidly growing market with a young and dynamic population, now reaching 38 million people – an 18% increase since 2017. Every year, around 700,000 economically active individuals enter the labor market, forming a substantial human resource base for the economy, including joint ventures.

As a result of poverty reduction policies, living standards and household incomes have risen significantly. Whereas a third of the population once lived below the poverty line, 7.5 million people have been lifted out of poverty, and the poverty rate declined to 8.9% in 2024, with plans to reduce it further to 6% this year. These policies not only address social challenges but also expand domestic demand, increasing the interest of European businesses in entering Uzbekistan’s market.

The further deepening of Uzbekistan’s economic engagement with the EU and Belgium is an objectively mutually beneficial process – one that will define the success of the upcoming state visit of President Shavkat Mirziyoyev to Belgium.

The agreements expected to be signed will help advance joint projects in sustainable energy and infrastructure, strengthen transport and technological connectivity between Central Asia and Europe, and position Europe as a key partner in Uzbekistan’s long-term growth and modernization trajectory.

Оbid Khakimov,  

Director of the Center for
Economic Research and Reforms

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)

President of the Republic of Uzbekistan Shavkat Mirziyoyev met with World Bank Vice President for Europe and Central Asia Antonella Bassani on September 30.

The sides considered topical issues of further expansion of strategic cooperation with the World Bank Group and support of this leading international financial institution to the ongoing reform program in New Uzbekistan.

At the beginning of the meeting, Vice President Antonella Bassani conveyed to the head of our state sincere greetings and best wishes of World Bank President Ajay Bangui.

During the conversation, the current high level and fruitful nature of bilateral cooperation were noted with deep satisfaction.

In recent years, our country has become one of the largest partners of the Bank - the portfolio of projects has increased several times and now exceeds 12 billion dollars.

The World Bank supports the implementation of important reforms aimed at ensuring the sustainability of economic and social sectors. Since July this year, the Bank's regional office has been operating in Tashkent.

Such areas as poverty reduction, transformation of state-owned enterprises and banks, decarbonization, support for WTO accession and others have been identified as priorities for further expansion of the partnership.

Special attention was paid to the programs of urbanization and integrated development of regions, modernization of energy and irrigation infrastructure, support to the private sector.

There was also an exchange of views on the promotion of regional projects.

The "Uzbekistan 2030" strategy aims to increase the country's gross domestic product to $160 billion and per capita income to $4,000. Achieving this goal solely through the domestic market is not possible; therefore, it is crucial to actively attract foreign investments and increase exports.
The Tashkent International Investment Forum plays a significant role in this effort. In May 2024, the third edition of the forum took place in Tashkent, becoming a significant event for the economy of Uzbekistan and the international investment community. The main objective of the forum was to enhance the inflow of foreign investments and promote economic cooperation between Uzbekistan and other countries.
The forum attracted business representatives, investors, government officials, and international organizations, facilitating dialogue and the signing of major investment agreements. In recent years, Uzbekistan has demonstrated significant growth in attracting investments, and the forum has been an important step in this direction.
In his welcoming speech, the head of state noted that Uzbekistan has attracted over $60 billion in foreign investments in recent years, with approximately $14 billion coming from international financial institutions. These investments have been directed towards social and infrastructure sectors.
The forum has gained incredible popularity, with over 2,500 participants from 93 countries, providing a platform for global dialogue and exchange of investment experiences.
It is important to highlight that the forum garnered attention from international media, with coverage from more than 110 foreign publications in 30 countries, including leading global media outlets such as CNN, Euronews, London Post, and Associated Press.
One of the key events of the forum was the presentation of regional energy projects (the construction of Kambarata-1 HPP and Yavan HPP) to foreign investors. The presentation involved the Prime Ministers of the Republic of Uzbekistan and the Kyrgyz Republic, emphasizing the importance of these projects for the entire region.
As a result of the Tashkent International Investment Forum, agreements were signed totaling $26.6 billion, indicating the high investment attractiveness of Uzbekistan and the success of the forum. For comparison, in 2022, 167 documents were signed at the forum, amounting to $11 billion, demonstrating a significant increase in investment interest in the country.
Specifically, agreements were reached on the implementation of the following major investment projects:
- Saudi Arabian company "Data Volt" will be involved in the construction of urban infrastructure in "New Tashkent" for $1 billion and will establish a "data processing center" based on green technologies for $3 billion.
- Saudi Arabian company "ACWA Power" will implement projects for the construction of a 5 GW wind power plant in the Republic of Karakalpakstan and the creation of 2 GW energy storage devices, with a total investment of $6.2 billion.
- UAE company "Amea Power" will carry out a project to build a 1000 MW wind power plant in the Republic of Karakalpakstan for $1.1 billion.
- "Saudi Tabrid" will undertake the modernization of the heating systems in Nukus, Fergana, and Kuvasay for $750 million.
- Egyptian company "Nile Sugar" will engage in sugar beet cultivation and sugar production in the Jizzakh region for $500 million.
- Chinese company "Shanghai Knud International" will implement a project for the production of textile and sewing products in the Namangan region for $205 million.
- "Wilmar International" (Singapore) will produce food products and confectionery in the Tashkent region for $200 million.
Additionally, agreements were reached with several major global companies, such as "Orascom Investment" (Egypt), "Bonafarm Grup" (Hungary), "Sayar" (USA), "Goldwind," "Sinoma" (China), "Sam Yapi" (Türkiye), "Pasha Development" (Azerbaijan), "Lasselsberger" (Austria), and "Petrosat Chexelsoton" (Iran), for the implementation of new investment projects totaling $6.6 billion.
The event included a rich program of panel sessions, discussions, business breakfasts, and roundtable discussions, focusing on key aspects of economic development. The central theme revolved around the role of the state, investors, and entrepreneurs in supporting small and medium-sized businesses.
During the session on combating corruption, experts emphasized that effective anti-corruption measures are crucial for improving the investment climate. They highlighted that creating a safe and transparent business environment plays a vital role in this process.
"The successful fight against corruption requires a comprehensive approach, including strengthening legislation and increasing the transparency of government actions," stated Akmal Burkhanov, Director of the Anti-Corruption Agency of the Republic of Uzbekistan.
The session on retail trade identified the main challenges and opportunities in the industry. Participants expressed the need for improving tax legislation and simplifying import procedures. They also emphasized the importance of creating conditions for successful adaptation of new brands in the market.
"Thanks to the resolution on reducing customs duties, we have managed to establish fair prices, as in the UK and Kazakhstan," shared Ilya Lyapustin, Sales and Marketing Director of "Tashkent City Mall."
During the business breakfast dedicated to women entrepreneurship, the significant impact of women entrepreneurs on society was emphasized. Speakers presented inspiring examples and strategies for achieving a balance between profitability and social responsibility.
Special attention was given to attracting foreign investments through residency programs.
"In recent years, Uzbekistan has proven itself as an attractive destination for global investors due to its openness to cooperation and prospects in the real estate sector," stated Akram Mukhamatkulov, representative of Henley & Partners.
The roundtable discussion on "Supply Chains and Resilience: Finding Balance in Uncertain Times" addressed the problems and strategies for ensuring the resilience of global supply chains.
"Turkey and Uzbekistan have a strategic partnership, and we can significantly strengthen cooperation by working together," noted Deputy Minister of Trade of Turkey, Sezai Ucharmak.
Experts also emphasized the importance of integrating digital technologies into investment strategies. They highlighted that digitization is not just the future but already a reality, playing a key role in accelerating investment processes and increasing transparency.
The pitch session "IT-PARK Uzbekistan: New Perspectives for Development" presented plans to transform Uzbekistan into a regional hub for information technology by 2030.
Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan, highlighted the significance of recent investments. "Yesterday, we witnessed an important event - the start of the construction of the $5 billion green data center, Data Volt, a major project of direct foreign investment. We are creating a favorable environment for IT companies and launching the 'Zero Risk' program to cover all risks associated with opening and operating offices in Uzbekistan," he noted.
The roundtable discussion on "Connectivity: Reviving the Great Silk Road" brought together international experts and representatives of government bodies to explore opportunities for expanding connections, economic cooperation, and cultural exchange along the ancient Silk Road routes.
The roundtable discussion on "Integrated Urban Planning: Quality Investments, Environmental and Human Comfort" involved leading urban planners, architects, and business representatives discussing approaches to the development of the city of Tashkent. In particular, Vladislav Butenko, Managing Director and Senior Partner at BCG, emphasized the importance of integrating innovative solutions into urban planning to achieve sustainable city development. He stressed the need to consider both economic and social aspects in comprehensive planning, ensuring a balance between them.
The forum played a significant role in attracting investments for various ministries and regions of Uzbekistan. The signed agreements indicate the development of key sectors such as industry, energy, pharmaceuticals, and automotive manufacturing.
One of the major achievements of the forum was the agreement between the Ministry of Digital Technologies, the Ministry of Energy, and IT company Data Volt on the construction of a data center based on green technologies. Experts highlighted the importance of such projects for Uzbekistan. The signing ceremony was attended by Laziz Kudratov, Minister of Investment, Industry, and Trade, and Rajit Nanda, Director of Data Volt.
The third Tashkent International Investment Forum has concluded, but the planned initiatives and signed agreements promise active work in attracting investments and ensuring sustainable development. Uzbekistan has once again confirmed its role as a strategic partner on the international stage, attracting the attention of global investors and contributing to the economic growth of the region.

Tengiz Asanov,
Deputy Head of the Department of the Ministry of Investment, Industry and Trade of Uzbekistan

The text of the article is in Uzbek language!

President Shavkat Mirziyoyev reviewed a presentation on measures for ensuring population’s employment and poverty reduction based on new approaches.

This year it’s planned to ensure employment of 5.2 million citizens and bring out of poverty 1.5 million people. For the first time 60 districts and cities will become territories free of poverty and unemployment. 

Jointly with mahalla bankers it’s planned to ensure constant employment for 1.5 million people and attract more than 2 million citizens to businesses. For this purpose it’s planned to allocate a total of 120 trillion soum of credit resources for small business projects. 

Based on best foreign practices, new approaches to poverty reduction will be introduced in 32 areas. In particular, solar power plants with a total capacity of 107 megawatts will be built in 300 complex mahallas, and members of low-income families will be hired to operate them on a cooperative basis.

In 123 districts, low-income citizens will be offered work on the creation of forest and nursery lands on 20 thousand hectares, as well as the cultivation of medicinal plants. They will be paid a subsidy of 375 thousand soums for every 100 trees planted.

In places with tourism potential it is planned to open guest houses and catering outlets, and at a number of post offices - e-commerce centers, where representatives of low-income families will also get jobs.

A total of 6.472 mahallas in 2025 will implement projects based on new approaches, which will help lift 210 thousand people out of poverty.

Special attention will be paid to remote villages with particularly difficult conditions. In them, the Association of Mahallas of Uzbekistan will take measures to foster a spirit of entrepreneurship, reduce dependency and support labor activity of low-income families.

The Head of State reiterated that 2025 will be decisive in reducing unemployment and poverty, and gave instructions to ensure a systematic and targeted approach to the implementation of the presented measures.

The Ministry of Employment and Poverty Reduction is tasked with strictly monitoring the implementation of these tasks. Each initiative and each activity will be entered into an electronic platform with subsequent verification of the created jobs on the tax base.

The importance of organizing training for the staff of local khokimiyats and “ mahalla seven”, as well as promotion of best practices was also noted.

On September 13, the President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting with the winners and medalists of the XVII Summer Paralympic Games.

The event was attended by the leadership of the National Paralympic Committee and sports federations, coaches, parents of athletes, representatives of state and public organizations.

As you know, the competitions were held from August 28 to September 8 in the capital of France, Paris. About 4.4 thousand Paralympians from 168 countries participated in them. From Uzbekistan, 65 para-athletes competed in 9 sports.

The Paralympic Games, like the Olympics, were successful for our country. Our compatriots set many records, winning 10 gold, 9 silver, 7 bronze - a total of 26 medals. They took 13th place in the overall team standings, as well as 3rd place in Asia and 1st place among Turkic, Islamic countries and the Commonwealth of Independent States.

In recent years, systematic work has been carried out to create a continuous chain of comprehensive support for the development of entrepreneurship in our country. As a result of the measures implemented and important decisions made over the last seven years, a new generation of entrepreneurs of New Uzbekistan has emerged.
In particular, BMB HOLDING is one of the major subjects of private entrepreneurship, playing an important role in the economic life of our country, and gaining strong positions not only in the domestic, but also in the international market.
On the eve of the 33rd anniversary of independence of the Republic of Uzbekistan, Dunyo information agency talked to Bekzod Mamatkulov, the founder of BMB HOLDING.
– Mr. Mamatkulov, in recent years BMB HOLDING has gained a great reputation not only in Uzbekistan, but also among the international business community. Today, the Holding effectively works in the areas of providing consulting services on investment projects, developing international business and trade relations, attracting foreign investments, export-import exchange, introducing innovative technologies, creating modern agro-industrial clusters. We would like to start our conversation with the organization of the Holding and the history of its development.
– After his election as President, Shavkat Mirziyoyev put on the agenda of our state’s policy such important issues as increasing economic potential, attracting investments and, most importantly, supporting entrepreneurs to bring the country to a new stage of development.
In this sense, the opportunities created for entrepreneurs have radically changed my life goals and made me want to test my potential in business.
We generated our first income through services. Developing business plans and providing consulting services was our first source of income. Later we bought land in Arnasay district of Jizzak region to implement our agricultural projects. We planted mung beans and peas as secondary crops here. The first attempts were successful. The agricultural products we grew gave better results than we expected. For the first time we were able to export our crops abroad. In particular, we started selling agricultural products to Pakistan, India and Afghanistan. Later, we had a plan to supply cotton and grain to the state on a contract basis, and we gradually expanded our financial capacity, making a profit from it.
In 2017, during the visit of the Head of state to Jizzakh region, our project to create a food cluster in Arnasay district was presented. At the meeting, the President emphasized that he would support us, like all businessmen, and expressed great confidence in us. Such attention and support of the President of the country gave us additional strength. After that, there was a desire to further expand our business activities, to test ourselves in new industries, to develop and implement joint projects with foreign partners.
In particular, in 2018, we were among the first to create the largest cotton cluster in the country. Thanks to the attention of the management and creation of favorable conditions for doing business, we created a cluster for growing medicinal plants, namely saffron. Later we organized a fruit and vegetable cluster. This big project, in turn, enabled us to set up a system of sorting, packing and deep processing of fruits and vegetables. Thus, having passed through various stages of business, our small project has now formed into BMB HOLDING. At present the Holding unites 30 enterprises. They employ more than six thousand people across the country.
– It is no secret that today the Holding realizes investment projects of international and national level. As an entrepreneur and a person who knows the business environment in foreign countries, how do you assess the investment environment in Uzbekistan? Are there aspects that do not satisfy you, are there factors that are obstacles for business?
– In the process of building New Uzbekistan, the creation of a favorable investment environment for entrepreneurs has become one of the main goals of the reforms of the Head of our state. The adoption by the President of Uzbekistan of a number of decrees and resolutions aimed at supporting entrepreneurs is yielding results today.
Improvement of tax legislation, creation of the possibility of free currency conversion, reforms in the sphere of private property and a number of other positive changes related to these spheres have played their important role, and entrepreneurs are now considered as the driving force of the country’s economy. In 2020-2022, despite the fact that the coronavirus pandemic worldwide had a large negative impact on the economies and the global investment environment, Uzbekistan’s economic growth rates remained stable and its investment attractiveness continued to grow.
The fact that the inflow of foreign investments into the country has increased significantly testifies to the confidence of international business in the economic reforms in our country. Active diversification of the economy is an important achievement that has opened new opportunities for investors in all sectors, starting with industry.
Now, if we talk about the factors that are obstacles for business, aspects that do not satisfy entrepreneurs, I will tell the truth openly: at the level of the government, reforms are being implemented very intensively, positive changes are taking place. But when you go to the lower level of the system, there are still cases of inattention and carelessness somewhere. I believe that such shortcomings will be eliminated.
– We know that BMB HOLDING is engaged in the production and export of a wide variety of agricultural products. In particular, the organization headed by you has achieved great success in saffron cultivation. Today saffron grown in Uzbekistan is becoming popular in many regions of the world. Tell me, when did you come up with the idea of establishing such a complex sphere as saffron cultivation in Uzbekistan and why did you choose this particular project?
– During President Shavkat Mirziyoyev’s visits to Kashkadarya region in 2017, the issue of cultivation of medicinal plants in mountainous and foothill regions, development of this sphere in our country and export of valuable medicinal plants to the world market was prioritized. The leader of our country also inquired why it is impossible to grow saffron in Uzbekistan despite all conditions, and gave a special instruction to develop this industry. During the President’s visit to Jizzakh region, we made a detailed presentation of our saffron cultivation project. Having familiarized himself with the project, the Head of state expressed his full support to it and instructed the responsible persons to implement the program as soon as possible.
However, it was not easy to realize this project at first. When implementing this business idea, first of all, we deeply studied the demand and supply in the domestic and foreign markets, opportunities and prospects for its implementation in the conditions of Uzbekistan, our own potential in this area, as well as a number of other factors. In 2020, we started to implement the project in pandemic conditions. At first, it took a lot of patience and hard work to find specialists, to bring saffron bulbs suitable for our climate from Europe and to get the desired harvest. In the first year we planted saffron bulbs on 55 hectares of land. The high demand for the harvest and the experience gained stimulated further development and expansion of the project. Today saffron is grown on 400 hectares of land. In the next three years, it is planned to increase the area of saffron plantations to 1,000 hectares and produce 20 tons of pure saffron products per year.
At the beginning of 2024, the product BMB Za’faron for the first time in our region received the USDA Organic certificate, an environmental certificate developed by the U.S. Department of Agriculture, which allowed Uzbek saffron to enter the American markets. After several years of in-depth analytical research, Uzbek saffron grown in the Bakhmal district received the appropriate permission to export to Chinese markets according to the conclusion of the Uzbek-Chinese interdepartmental commission.
– Indeed, a lot of experience in saffron cultivation has been accumulated in recent years. At the same time, what countries’ experience do you think should be studied and implemented in order to grow a competitive product that meets the requirements of international standards and markets?
– In agriculture, each product is grown using a specific method. Such countries as Italy, Austria, South Korea, USA, and Saudi Arabia have enough experience in saffron cultivation. Of course, we study the experience of countries with climatic conditions close to ours and exchange experience with industry experts. I can say that we have mobilized all possibilities to get more crops and export them abroad. The increase in exports, in turn, contributes to increasing the inflow of foreign currency into Uzbekistan and ensuring economic stability.
To bring our national products to the world market and increase their competitiveness, the most important factors are, first of all, quality, then price and, of course, matching production capacity to demand. We have taken these aspects into account in our work and projects, especially in saffron cultivation.
– In Uzbekistan, on the initiative of the Head of our state, an open dialog with entrepreneurs is held annually. Tell me, what impact do these efforts have on the activities of the Holding headed by you?
– It would not be an exaggeration to say that the adoption of a number of resolutions and decrees on creation of favorable business environment and healthy competition in our country, comprehensive support for entrepreneurs, further liberalization of tax policy have served to eliminate the problems that have arisen for many years and hindered the free activity of entrepreneurs.
Thanks to the political will of the President of Uzbekistan, the organizational and legal foundations for the development of the industry have been strengthened, and the attention to entrepreneurs has changed dramatically. Most importantly, all this has already started to yield positive results.
In addition, an open dialog between the President of the Republic of Uzbekistan and entrepreneurs has been established. In my opinion, there is no other country in the world that has such a format.
I can confidently say that the open communication of the Head of state with the business community, which has now become a tradition and is held annually, serves as an important factor in the formation of a new competitive class of entrepreneurs in New Uzbekistan.

I visit many countries for work. In particular, my friends-partners in Italy, Germany, the United States, Austria and other countries highly appreciate the annual dialog of the President of Uzbekistan with entrepreneurs. It is no secret that people look at us with envy when they see the personal attention of the Head of state to the development of business in our country. In fact, it is a great achievement for both sides — the President meets with businessmen, listens to their systemic problems, finds solutions and solves them. Therefore, today all businessmen are looking forward to meeting with the President. This meeting has also become an important forum for businessmen to assess their activities for the year and determine plans for the future. The speeches of our country’s leader at the meeting and important initiatives aimed at further development of the industry, removal of existing obstacles, provision of benefits to entrepreneurs serve as a program for further expansion of businessmen’s activities.
I would like to give an example based on my experience. Before dialoguing with the President, I note in my notebook the issues we face in our work. Listening to the President, I always get comprehensive answers to all my questions based on deep analysis.
– In August 2022, by the decree of the President of Uzbekistan, you were awarded the “Faol Tadbirkor” sign, and in 2023 — the “Dustlik” order. Recall those moments when your entrepreneurial activity was highly appreciated by the leadership of our country.
– Before answering, I have to say one thing. Before coming to business, I worked in state and public organizations for more than 15 years. I never received even a certificate of honor, let alone a state award. Today, the leader’s focus is on people who have sincerely worked for the development of our dear country — Uzbekistan. In recognition of our work, in 2022, I was awarded the “Faol Tadbirkor” sign. In 2023, I had the honor to receive the “Dustlik” Order from the esteemed President. These are not just awards given to me, they are recognition of the work of thousands of dedicated people working in the Holding’s system. Such a high appreciation gives our team more confidence and motivation, and gives us great strength to realize the goals we have set for ourselves.
– The direction of economic diplomacy is becoming increasingly important in attracting foreign investment to Uzbekistan, finding new partners and exporting national products abroad. In this regard, does the Holding, which you head, use the opportunities of diplomatic missions of our country in foreign countries? How satisfied are you with the work of our country's embassies in this direction?
– Frankly speaking, it used to be impossible to meet with diplomats. If you went abroad and wanted to meet with the Ambassador of our country, he would not accept businessmen. This is an open statement. The Ambassador only dealt with politics. Thanks very much to our President, he brought the diplomats’ attention to the economy as well. This, of course, has opened wonderful conditions and opportunities for entrepreneurs. Openness in this sphere, in turn, has become an important step for entrepreneurs in finding foreign partners and attracting investment.
Today, the diplomatic missions of Uzbekistan in foreign countries play a very important role in the activities of the Holding Company, and we feel their support at every stage of realization of our numerous projects. The introduction of the position of Advisor to the Ambassadors of Uzbekistan on economic issues has been very useful for us entrepreneurs. It should be noted that BMB HOLDING has established close relations of economic cooperation with embassies of foreign countries in Uzbekistan, in particular with diplomatic missions of Russia, China, USA and a number of European countries such as Poland, Austria and Latvia.
In a word, the role of diplomatic missions of Uzbekistan and foreign countries in our country is very important in effective realization of the company’s projects.
– Today BMB HOLDING operates in the field of cultivation and production of agricultural products. Our readers are also interested in the future plans of the Holding.
– Our plans for the near future are huge. In particular, the work on establishment of deep processing of agricultural and fruit and vegetable products, and the launching of textile factories in Syrdarya region is in full swing. We also want to implement projects in the field of medicine. Our first project in this direction will be the creation of a health center in Navoi region in 2025. Also, a chain of restaurants and hotels “Zafaron” will be launched in Tashkent city and Tashkent region.
Along with this, we plan to implement the project “Energy-efficient technologies and equipment for production, mining and processing of natural decorative stone” worth 50 million US dollars together with the organization Toksel Makina from Turkey.
– Our last question may be off-topic, but many people are also very interested in this area. We would like to ask about your projects in sports, especially in soccer. What are your goals in soccer and futsal? Also, please, provide information about BMB HOLDING brand ambassadors in the sphere of chess.
– This is an interesting question. BMB HOLDING considers the development of sports in our country, especially soccer and futsal, as one of the main directions of its activity. The Holding was one of the sponsors of Sogdiana soccer club in 2021 and Lokomotiv soccer club in 2022. Since 2023, our Holding has been one of the sponsors of the professional soccer league of Uzbekistan.
At the same time, the BMB PROFESSIONAL FUTSAL CLUB team started its activity in the system of the Holding. A number of famous local and Brazilian futsal players were invited to the team. For the last two years the team won the Cup of Uzbekistan and the Super Cup of Uzbekistan. Today the basis of our team is made up of futsal players playing in the national team of Uzbekistan on mini-football.
On June 30, on the occasion of Youth Day in Uzbekistan together with the Agency for Youth Affairs within the framework of the project of the brand ORRO ROSSO in Milan (this brand is currently the official partner of the Italian soccer club Milan and Monza) we organized a trip to our country of four famous former players of the soccer club Milan, world and European champions Dida, Sergino, Panucci and Zaccardo. I believe that the visit of famous soccer players to Uzbekistan has served to increase the interest and activity of our youth in sports.
As you know, the Futsal World Cup will be held in our country from September 14 to October 6 this year. BMB HOLDING as the main partner organization is preparing for this futsal holiday.
Besides, BMB HOLDING actively supports talented young chess players. Recognizing them as the face and ambassadors of the Holding, we call them brand ambassadors. In particular, FIDE Master of Sports Humoyun Bekmurodov won a silver medal at the X Chessable Sunway Sitges International Chess Festival 2023 held in Barcelona (Spain), and also won the Dubai Police Global Chess Challenge tournament held in Dubai (United Arab Emirates) on May 3-13 this year.
Another of our young chess players is Umida Omonova, a student of the International Chess School, world champion in blitz and rapid, FIDE Master of Sport, member of the Uzbekistan national team, holder of the state award named after Zulfiya, brand ambassador of BMB HOLDING. She also won the 18th round of the Uzbekistan Championship held in April this year.
Another thing is that BMB HOLDING mobilizes all its capabilities and potential in the direction of further prosperity of New Uzbekistan, which is being built under the leadership of the Head of state, improvement of welfare of our people and development of the Motherland.
- Thank you for taking the time to talk to us.
- Thank you.

Dunyo IA

Despite its limited access to the world's major ports, Uzbekistan can fully develop its transportation and logistics industry through the formation of land transport corridors, developing them throughout the Eurasian region. Being located in the center of the crossroads of trade routes during the Great Silk Road, Uzbekistan has a unique opportunity to become an important provider of logistics of cargo flows between China and Southern Europe, on the one hand, and the Indian Peninsula and CIS, Northern Europe, on the other hand.
Landlocked countries account for less than 1% of world exports. Moreover, the share of Central Asian countries in the global export of transport services is very small and is represented in the following proportions: Uzbekistan, which has access to the sea only through two countries – 0.1%, Kazakhstan – 0.3%, Tajikistan – 0.007%, Kyrgyzstan – 0.03%.
However, the transport complex of Uzbekistan maintains a dominant position in foreign trade in services and is one of the main sources of foreign currency inflow into the country. Transport services in the republic form 43% of the total volume of the country's service exports and 65% of the balance of foreign trade in services. Uzbekistan's transport service exports in 2022 amounted to $2.2 billion, and the positive balance of foreign trade in transport services amounted to $1.7 billion.


Figure 1. Uzbekistan’s share in global exports of transport services in 2022, %


Calculated according to UNCTAD and Statistics Agency of the Republic of Uzbekistan
One of the main problems of Uzbekistan's international freight transport is the underutilization of its export and transit potential, which reduces revenues from the export of transport and logistics services. For example, when comparing actual exports in tons, Uzbekistan is behind Russia by 20 times, Turkey by 10 times, and Kazakhstan by 9 times.
In 2023, the volume of interstate cargo transportation in the Republic of Uzbekistan amounted to 62 million tons, which is 16% higher than in 2022. The largest share in the volume of export-import cargo transportation of the republic falls on Kazakhstan (30%), to a lesser extent on Russia (26%), China (10%), and Afghanistan (4%). Rail transport accounts for the largest share (76%) of Uzbekistan's international cargo transportation (export, import, and transit). The export of transport services includes the transit of goods through the territory of Uzbekistan with a total share in the export of railway services of up to 45%.
The unrealized transit crossroads of Eurasia
One of the main global logistics trends is trade between China and the EU. According to the ERAI review, in 2023, the trade turnover between them amounted to 738 million euros, and according to EUROSTAT exceeded 104 million tons. In the current realities, rail transportation between Europe and China is carried out along the Eurasian route through the territories of Kazakhstan, Russia, Belarus; Mongolia and Russia (Naushki border crossing), as well as along the Trans-Caspian International Transport Route – TITR (Kazakhstan, the Caspian Sea, Azerbaijan, Georgia, the Black Sea).
Part of the cargo flows that previously passed through the northern corridor has been redirected to TITR. However, the Eurasian route continues to occupy a leading position. In 2023, a total of 674 thousand TEU passed along this route, which is 1.1% less than in 2022 (681 thousand TEU), but at the same time, in the first half of 2024, the volume of container traffic by China-Europe trains along TITR increased by 12.8% with a volume of 196.6 thousand TEU.
As can be seen, Uzbekistan does not fit into the list of major transit countries between China and the EU in the "Eurasian" and "Trans-Caspian" directions and claims only a part of the target markets mainly in direction along the Southern Corridor through Turkmenistan, Iran, and Turkey.
So, a limited number of international transport corridors pass through the territory of Uzbekistan. The main countries forming the transit of Uzbekistan are neighboring Afghanistan, Kazakhstan, Tajikistan, and Kyrgyzstan, as well as Russia, which is considered an important trading partner for the Central Asian countries. The transport isolation of the region, undiversified transport routes, and limited export deliveries mainly in the northern direction lead to a loss of profit due to the sale of domestic goods mainly to neighboring countries at a fairly low cost.
Transit Priorities
To sell domestic products at competitive world prices, Uzbekistan needs to develop additional export trade routes to other countries, such as China, the Asia-Pacific region, the Middle East, India, Pakistan, and others. This requires competitive and efficient transport and transit corridors that allow for increasing the volume of transit cargo through the Republic of Uzbekistan.
Therefore, the priority directions identified by 2030 for the development of international transport corridors and bringing the volume of transit traffic through the territory of the republic to 16 million tons include the task of increasing revenues from the export of transport services. The key task in this case is to increase the volume of multimodal cargo transportation in the directions of China – Kyrgyzstan – Uzbekistan (Kashgar–Irkeshtam–Osh–Andijan–Tashkent) and Uzbekistan – Afghanistan – Pakistan (Termez – Hairatan – Logar – Karachi).
China - Kyrgyzstan - Uzbekistan. The volume of cargo transportation of the PRC with such countries as Turkey, Iran, Turkmenistan, Afghanistan, and Pakistan in 2023 amounted to almost 50 million tons, with the main volume of cargo transportation carried out by sea transport. Studies have shown that it is possible to attract part of the cargo to the "China–Kyrgyzstan–Uzbekistan" route, in the amount of about 10 million tons, and with the stable organization of cargo transportation along the route, the volume of cargo transportation by 2040 may increase by 4 times.
Uzbekistan – Afghanistan – Pakistan. The geographical proximity to Afghanistan, and further south to Pakistan and India, gives Uzbekistan the opportunity to unlock its existing potential and provide cargo transportation services in export, import, and transit traffic in the direction of South Asian countries (Afghanistan, Pakistan, and India), without competing for existing transport and trade corridors. Therefore, Uzbekistan is extremely interested in trade and transport cooperation with Afghanistan and in the implementation of the Trans-Afghan Railway project "Uzbekistan–Afghanistan–Pakistan." This road will allow establishing a direct rail link between Uzbekistan and Pakistan through the territory of Afghanistan with further access to the ports of the Indian Ocean.
The importance and effectiveness of the "Uzbekistan–Afghanistan–Pakistan" (UAP) project can be significantly increased if it is implemented in parallel with the project of building the "Uzbekistan – Kyrgyzstan – China" (CKU) railway line, which is the shortest way to connect China with Pakistan and India and will allow a multiple increase in the volume of traffic from/to China to the countries of Central and South Asia.
In this regard, within the framework of two strategic projects UAP and CKU, the ongoing activities on formation of new uninterrupted perspective multimodal transport corridors in the region are relevant. In November 2023 in Tashkent within the framework of the ECO Ministerial Meeting the Protocol of the multilateral meeting on establishment of the international multimodal route between Asia-Europe through “Uzbekistan-Turkmenistan-Iran-Türkiye”, was signed.

In November 2023, a Memorandum on mutual Understanding on the creation and development of international transport corridor “Belarus-Russia-Kazakhstan-Uzbekistan-Afghanistan-Pakistan” with access to the ports of the Indian Ocean was signed in Tashkent. In April of this year, Termez hosted meetings of transportation agencies and railway administrations of the countries-participants of this corridor, which resulted in the adoption of the Road Map, including the main activities for further development of the corridor.
It should be noted that the abovementioned documents are open for other interested countries to join the transport corridors.
Multifaceted Transport Policy
It should be noted that the policy of forming international transport corridors in Uzbekistan is somewhat different from the policies of several other countries and is aimed at attracting as many countries as possible to the active development of a branched network of transport corridors that ensure efficient foreign trade cargo transportation. As emphasized by the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, at the SCO Summit in Astana on July 4 of this year, "the multivariance of transport corridors is the most important condition for the sustainable development of our entire region."
However, the effective functioning of various corridor options is hindered by the lack of unified Cargo Transportation Rules, a unified Transport Document Standard that would be used on all types of transport, as well as the absence of digital platforms for providing customers with freight transportation services remotely from anywhere in the world. All this slows down the transport integration of Asian countries in the context of developing routes between Central and South Asia, and China, on the one hand, and the integration of Asian countries with European communications on the other.
To solve the problems of different legal and technical standards in freight transportation between European and Asian countries, which hinder the full-fledged transportation of goods without delays, it makes sense to develop new services for logistics and cargo transportation market participants, while applying modern technologies.
These include the production of universal wagons with variable gauge axle systems at the country's industrial facilities, with their further use both in Uzbekistan and southern countries, China and others, as well as the development of a digital platform for online registration of cargo transportation and transportation documents, which will lead to additional revenues from the export of transport services.
In this regard, the initiative of the President of Uzbekistan Shavkat Mirziyoyev, announced in June at the OTS Summit on the formation of a Council of Railway Administrations within the framework of the organization and the placement of its directorate in Tashkent, is relevant. The Council could act as a regulator for the integration of the railways of China, the Asia-Pacific region, South and Southeast Asia with the countries of Central Asia, the Caucasus, and the EU.
To assess the prospects for the coordinated development of transport corridors, a forecast of foreign trade volume was made based on an analysis of panel data using a combined model of two directions of international cargo transportation: China-EU and China-CA. The results of this forecast showed that by 2050, the volume of trade between China and the EU will increase by 4.5 times compared to 2023, and between China and CA - by 5 times. At the same time, the total volume of trade between South Asian countries (India and Pakistan) with trading partners (EU, Russia, China, Belarus, Kazakhstan, Uzbekistan, and Turkmenistan) will increase by 3.8 times compared to 2023.

In the near future, a clearly defined strategy for integrating Central Asian countries into the international transport network can help solve the region's problems and lead to an increase in the export of transport and logistics services and attract cargo flow, and later passenger flow, to the territory of the Asia-Pacific region, South and Central Asia. As the President of Uzbekistan Shavkat Mirziyoyev said: "We are open to cooperation and ready to become a reliable partner in creating new transport corridors and integration projects."

Dildora Ibragimova,
Center for the Study of Transport and Logistics Development Problems under the Ministry of Transport of the Republic of Uzbekistan