Cooperation between Uzbekistan and Azerbaijan in the field of ecology and environmental protection is reaching a new level, encompassing both bilateral initiatives and active engagement on international platforms. Humanity finally discovered that poisoning the planet might have consequences. Remarkable timing.

The foundation of this partnership remains the Agreement on Cooperation in the Field of Environmental Protection, signed on September 11, 2008, in Baku. Today, the two sides continue to work on a new intergovernmental agreement intended to make cooperation more systematic and strategic. At the same time, regular exchanges of experience and information are taking place through international conferences, meetings, and platforms, including the structures of the Commonwealth of Independent States.

Contacts within climate forums have gained particular importance. During COP28, representatives of the two countries discussed the transition toward a sustainable and resource-efficient economy within the Economic Cooperation Organization region. The dialogue later continued on the sidelines of the United Nations Environment Assembly in Nairobi, where the parties focused on preparations for COP29, held in Baku.

COP29 itself became an important milestone in deepening regional cooperation. During the conference, the first meeting of environmental ministers of the Organization of Turkic States was held, resulting in the signing of a corresponding declaration. In addition, Uzbekistan and Azerbaijan joined the regional “Glaciers to Farms” program, implemented with the support of the Asian Development Bank and the Green Climate Fund. The program aims to mobilize $3.5 billion to improve the resilience of agriculture and infrastructure in the face of glacier melting.

Educational cooperation also remains an important area of partnership. Young environmental activists from Azerbaijan participated in international environmental camps in Samarkand organized with the involvement of the International Public Foundation “Zamin.”

An active dialogue is also being conducted at the level of профильных ведомств. In 2024, an Azerbaijani delegation visited the National Committee of the Republic of Uzbekistan on Ecology and Climate Change during the first Uzbek-Azerbaijani Media Forum, where the parties exchanged experience in environmental communication and countering disinformation. Because apparently even climate change now has to survive internet arguments.

Future prospects for cooperation include several promising areas. These include exchanging experience in air quality monitoring and the development of green urbanization, expanding scientific research through the Central Asian University for Environmental and Climate Change Studies (Green University), and cooperation in the management of protected natural areas.

The parties are also considering the establishment of a joint working group and the completion of the new intergovernmental agreement. Additionally, they propose intensifying cooperation within international environmental conventions, including Azerbaijan’s accession to the Convention on the Conservation of Migratory Species of Wild Animals.

Special attention is also being given to upcoming international events. Azerbaijan will participate in the 8th Assembly of the Global Environment Facility and will present its National Pavilion at the Eco Expo Central Asia 2026 exhibition, which will take place in Samarkand.

Thus, Uzbek-Azerbaijani cooperation in the environmental sphere demonstrates steady momentum and covers a broad range of areas, from climate policy and scientific research to youth initiatives and international cooperation.

From June 16^th to 19^th, the capital will host the 5^th Tashkent International Investment Forum, the country's primary investment platform and one of the region's largest business forums.

Tashkent International Investment Forum (TIIF-2026) has solidified its position as a key investment platform in Central Asia, bringing together states, international investors, and representatives of global business. The forum serves not merely as a platform for dialogue, but as a space where the region's practical investment agenda is actively shaped.

The core idea of the forum lies in the fact that Uzbekistan is consistently cementing its status as a regional investment hub, capable not only of attracting capital but also of defining long-term rules and directions for the economic development of Central Asia.

The scale of TIIF-2025 clearly demonstrated that the forum has transitioned to a new stage of its development. The event brought together more than 8,000 delegates from 97 countries, with the total volume of signed investment agreements reaching 30.5 billion US dollars. These indicators stand as some of the most significant results among regional investment platforms.

The growing number of participants, the broadening geography, and the increased volume of concluded deals bear witness to a notable strengthening of international business confidence in Uzbekistan's investment climate. The forum is increasingly perceived not as a one-off discussion platform, but as a sustainable mechanism for generating real investment solutions.

The significance of the Tashkent International Investment Forum is determined not only by its scale, but also by its practical value for participants. TIIF provides a unique opportunity for direct access to key economic and political decision-makers - ranging from heads of state and governments to representatives of international financial institutions, sovereign wealth funds and major corporations.

The forum cultivates a rare environment where the state, investors, and business are concentrated within a single space, allowing for a seamless transition from general discussions to concrete formats of cooperation. Within the framework of TIIF, B2B and B2G meetings are actively advanced, serving as the cornerstone for concluding investment agreements and launching new projects.

TIIF-2026, scheduled to take place from June 16 to 19 in Tashkent, will maintain and expand upon the framework of previous years, combining elements of high-level political dialogue, business negotiations, and sectoral discussions. The forum's program features a plenary session with the participation of heads of state, panel sessions, thematic pitch presentations, and an expanded exhibition showcasing the country's industrial and investment potential.

One of the defining features of TIIF-2026 is its exceptionally high level of representation, which brings together a unique concentration of political, financial, and corporate capital within a single venue. The forum features heads of state and government, including leaders from Central Asian and European nations, alongside executives from international organizations and multilateral development banks.

Among the participants are representatives from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Asian Development Bank (ADB), and the International Finance Corporation (IFC), alongside sovereign wealth funds and export credit agencies. Such a composition ensures a direct link between state reforms, global financial institutions, and private capital.

The outcomes of the 4th Tashkent International Investment Forum (TIIF-2025) received widespread international acclaim from representatives of government structures, financial institutions, and global business, who noted Uzbekistan's growing role as the region's premier investment hub.

The Director of the Center for Global and Regional Studies (CEGREG), Professor Ikboljon Qoraboev (Kazakhstan), emphasized the scale and significance of the forum:

• Central Asia has once again taken center stage in the international business community. From June 9^th to 12^th, Tashkent hosted the 4^th Tashkent International Investment Forum - the largest regional investment platform, which is consistently gaining momentum and international resonance with each passing year. The scale of this year's forum is truly unprecedented, bringing together around 3,000 foreign delegates from nearly 100 countries.

TIIF is emerging as the premier platform for showcasing the industrial and economic potential of Central Asia, while the participation of state leaders, major investors, and international banks highlights the strategic significance of the forum as a window of opportunity for the region.

Associate Professor at the Azerbaijan State University of Economics, political scientist Emin Garibli (Azerbaijan), accentuated the integration significance of the forum:

• Tashkent International Investment Forum is emerging not only as a key economic platform for Central Asia, but also as a vital instrument for deepening integration processes between Europe and Asia. The forum strengthens Tashkent's status as a regional center of gravity for investment and demonstrates the country's resolve in advancing reforms within the framework of the New Uzbekistan strategy.

Executive Producer of CGTN, Zhang He (China), highlighted the investment impact of the reforms:

• The economic reforms implemented in Uzbekistan have created a more favorable environment for investors. Uzbekistan possesses immense potential in sectors such as industry, 'green' energy, agriculture, information technology, and tourism. This will serve to diversify investments and expand the manufacturing of high-value-added products.

Governor of the Japan Bank for International Cooperation (JBIC), Nobumitsu Hayashi (Japan), noted the transformation of the forum's role:

• The forum has transformed into a fully-fledged regional platform, uniting business leaders and financiers from across Central Asia and Eastern Europe. The reforms in Uzbekistan are creating a predictable and attractive environment for long-term investments.

Chairman of the Chinese company CAMCE, Wang Bo (China), noted the practical value of the forum:

• This prestigious event opens up excellent opportunities not only for our company, but also for foreign investors seeking prospects in the dynamically developing economy of Uzbekistan. For foreign investors, Uzbekistan represents a unique opportunity, particularly in light of the WTO accession process. As the President noted, this will open up even greater prospects for sustainable development, making Uzbekistan an attractive destination for global investment.

Tashkent International Investment Forum (TIIF-2026) is cementing its role as one of the key platforms for investment dialogue in Central Asia, where not only the directions of economic policy are shaped, but also real mechanisms for interaction between the state and global capital are forged.

On the whole, the experience of previous years demonstrates that TIIF has already transitioned from a traditional conference format into a practical investment ecosystem that influences the structure of regional economic development. In this context, TIIF-2026 is viewed as the next phase in strengthening Uzbekistan's role within the global investment architecture and further expanding its integration into international capital markets.

Dunyo IA

At the invitation of the of President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, on January 13 President of the Republic of Uzbekistan Shavkat Mirziyoyev departed to this country with an official visit. 

In accordance with the program negotiations at the highest level, as well as bilateral meetings with the heads of leading organizations, companies and banks of the UAE will be conducted in the Emirates’ capital of Abu Dhabi. 

President of Uzbekistan will also participate in the activities of the international summit “Abu Dhabi Sustainability Week”. 
In the framework of the visit, the Head of our state will visit Dubai, where he will hold a meeting with Vice President, Prime Minister of the United Arab Emirates, Emir of Dubai Sheikh Mohammed bin Rashid Al Maktoum.

The text of the article is in Uzbek!

Relations between Uzbekistan and the United States of America have reached a new level in recent years. Today, this cooperation encompasses strategic areas such as transport and logistics, aviation, infrastructure, digital technologies, financial services, industrial cooperation, and the development of international transport corridors.

As a nation located in the heart of Central Asia, Uzbekistan places special emphasis on accessing international markets, expanding its export geography, and actively integrating into global supply chains. From this standpoint, modernizing the country's transport and logistics infrastructure has become one of the foremost priorities of its economic policy.

The United States, with its advanced technologies, a developed aviation industry, major financial institutions, digital solutions, and global logistics expertise, is a key partner capable of providing Uzbekistan with practical support in achieving these strategic goals.

Following meetings with leading American companies held in New York in September 2025, a portfolio of contracts and promising projects was formed in the fields of civil aviation, mining, finance and innovation, chemicals, energy, and other priority sectors, with a total value exceeding $100 billion.

In 2025, of the total 60,400 tons of cargo transported between Uzbekistan and the US, 44,200 tons were carried by rail. Road transport accounted for 13,800 tons, and air freight for 2,400 tons.

In the first six months of 2026, 31,200 tons of cargo were transported between Uzbekistan and the US. Of this volume, 30,700 tons were imports from the US to Uzbekistan.

The intensification of high-level political dialogue creates an important institutional foundation for advancing economic and infrastructure projects. During high-level meetings in Washington in November 2025, discussions focused on the further development of the Uzbek-American strategic partnership, the expansion of trade, economic, and investment cooperation, and the deepening of practical engagement between Central Asia and the United States in the "C5+1" format. The parties particularly emphasized the need to improve institutional mechanisms for promoting joint projects.

Meetings in June 2026 with leading U.S. companies, financial institutions, and business circles also demonstrated that the bilateral economic partnership is entering a practical phase. These meetings were attended by representatives of the U.S. EXIM Bank, the U.S. International Development Finance Corporation (DFC), the American-Uzbekistan Chamber of Commerce, and major companies such as Boeing, Visa, JP Morgan, Meta, BlackRock, and Air Products. Discussions focused on advancing specific projects in areas such as critical minerals, energy, metallurgy, finance, artificial intelligence, and digital technologies, among others.

The direct link between these sectors and the transport and logistics system is that modern industrial and export chains cannot develop without a reliable logistics infrastructure. Delivering critical minerals, industrial products, high-tech goods, and agricultural products to foreign markets requires multimodal transportation, containerization, warehouse and customs terminals, electronic tracking systems, and responsive transport services.

In this context, infrastructure initiatives such as the construction of a new international airport in Tashkent, data centers, and dry ports hold a special place on the transport and logistics agenda of Uzbek-American cooperation. The new international airport will help expand the country's air transport capabilities, developing air cargo, postal services, express delivery, e-commerce, pharmaceutical transport, and international transit services.

Currently, direct flights are operated on the Tashkent–New York–Tashkent route. This route is vital for developing business ties, tourism, and trade between the two countries.

At the same time, this route serves as an important logistics channel for high-value cargo requiring rapid delivery.

One of the most significant steps in the aviation sector relates to agreements between Uzbekistan Airways and Boeing. In September 2025, the national carrier signed an agreement to acquire 14 Boeing 787-9 Dreamliner aircraft with an option to purchase an additional 8. Later, during the C5+1 summit, the agreement for the additional 8 aircraft was converted into a firm order, bringing the total number of Boeing 787-9 aircraft ordered by Uzbekistan Airways to 22.

The new fleet of long-haul aircraft will allow Tashkent to be transformed into a major air hub connecting North America, Europe, the Middle East, and Asia. This will not only increase passenger traffic but also create new opportunities for international air freight.

Uzbekistan's accession to the World Trade Organization is also of great importance for the transport and logistics industry. At a meeting on June 25, 2026, with a delegation led by the U.S. Trade Representative, special attention was given to continuing cooperation with and support from the United States in our country's WTO accession process. WTO membership will help harmonize trade rules with international standards, simplify customs procedures, increase the transparency of documentation, and reduce unnecessary barriers in foreign trade.

Uzbekistan's accession to the World Trade Organization is also of great importance for the transport and logistics industry. At a meeting on June 25, 2026, with a delegation led by the U.S. Trade Representative, special attention was given to continuing cooperation with and support from the United States in our country's WTO accession process. WTO membership will help align trade rules with international standards, simplify customs procedures, ensure transparency in documentation, and reduce unnecessary barriers in foreign trade.

This process directly leads to lower logistical costs, shorter cargo clearance times, and the creation of a competitive environment for exporters. Furthermore, a trade system compliant with international standards establishes a reliable legal framework for foreign investors and logistics companies. As a result, this expands investment opportunities in modern warehouses, logistics centers, dry ports, customs terminals, and multimodal transportation services.

Growth in trade figures also confirms this trend. While trade turnover between the two countries reached $882 million in 2024, the volume of mutual trade exceeded $1 billion in 2025. Moreover, the activity of approximately 340 American companies in our country's market shows that the United States has become one of Uzbekistan's key economic partners. Major projects being implemented in the energy, critical minerals, transport, agriculture, information technology, and other sectors are further enriching the practical content of bilateral cooperation. This means that the entry of Uzbek products into the US market is becoming a stable trend, and in turn, the demand for transport and logistics services will grow.

Another important area of cooperation is related to digital services and high technology. The growth in exports of IT and digital services targeting the US market indicates the formation of new export sectors in Uzbekistan's economy.

Cooperation within the C5+1 format adds a regional dimension to Uzbek-American transport and logistics relations. The dialogue between the countries of Central Asia and the United States on strengthening trade, investment, the digital economy, supply chains, and transport connectivity is accelerating the region's integration into global markets. For Uzbekistan, this process expands opportunities to diversify international transport corridors, enhance its transit potential, and develop into a regional logistics hub.

Large-scale programs are being implemented in the country to modernize its road and rail networks, terminals, and airports. The fact that more than $12 billion is planned to be allocated for the development of transport infrastructure by 2030 clearly demonstrates the scale and long-term significance of reforms in this area.

This cooperation serves the goals of modernizing Uzbekistan's transport and logistics system, increasing its export potential, integrating into global supply chains, and becoming a competitive logistics hub in Central Asia.

1. Abdusamatov, Leading Specialist

Center for the Study of Transport and Logistics Development Problems

at the Ministry of Transport of the Republic of Uzbekistan

The 26th International Textile and Garment Industry Exhibition TextileExpo Uzbekistan 2026 will be held from May 13 to 15, 2026 at the Uzexpocentre National Exhibition Complex in Tashkent

TextileExpo Uzbekistan is the largest B2B platform for the textile and garment industry in Central Asia, bringing together manufacturers, suppliers, and professional buyers. Here, the buyers find reliable partners, current trends, and favourable terms of cooperation, while industry representatives find comprehensive solutions for production development and optimization. Visitors can compare offers, evaluate product quality, and negotiate directly with manufacturers.

Over 150 verified suppliers from 7 countries will participate, with strong representation from companies from China.

The exhibition will traditionally cover all production cycle phases from raw materials to finished products and accessories. Visitors will find yarn, fabrics, knitwear, fittings and accessories, finished garments, technical and home textiles, hosiery, as well as chemicals and dyes for the textile industry.

According to the organizers, the traditional Buyers’ Program is planned as a unique component of the TextileExpo Uzbekistan. It is a platform focused on achieving concrete business outcomes, including targeted B2B meetings, the establishment of long-term partnerships, and the conclusion of commercial contracts. For domestic companies, the program serves as an effective channel for entering international markets and scaling export deliveries. For buyers, exclusive participation conditions are provided, allowing them to make the most efficient use of their time at the exhibition and gain priority access to key suppliers.

Dunyo IA

Since ancient times, Central and South Asia have been closely connected through trade, cultural exchange and political processes. Geographical proximity and ancient trade routes contributed to active dialogue between peoples and civilizations, the exchange of goods and culture as well as the formation of a shared historical and cultural identity in the region. Following the acquisition of independence, the Central Asian states began gradually developing their own foreign policy and economic strategies toward South Asia.

Given the significance of Central and South Asia, shaped by their strategic location, abundant natural resources, demographic potential and historical heritage, these regions have become the subject of extensive scientific research. Thus, from the perspective of the regional security complex, scholars consider Central and South Asia as two independent yet equal regions. In this context, it is important to emphasize the transformation of Afghanistan’s role as a key component of the regional security complex, facilitating interconnectedness and the gradual rapprochement between South and Central Asia.

It should be noted that Uzbekistan, located in the heart of Central Asia, plays a key role in ensuring regional security and stability. At the same time, the country, actively promoting constructive foreign policy initiatives aimed at strengthening peace and cooperation in the region, acts as the locomotive of economic interconnectedness between Central and South Asia. Recognizing the growing demand for mutual ties between the regions, in July 2021 in Tashkent a high-level international conference “Central and South Asia: Regional Connectivity. Challenges and Opportunities” was held. There the proposal to develop and submit for consideration to the UN General Assembly a draft special resolution “On Strengthening the Connectivity between Central and South Asia” was put forward. As a result, in July 2022, the UN member states unanimously approved the adoption of this resolution, which became another vivid testament to the recognition of our country’s role and authority in deepening interconnectedness, establishing dialogue with the region and maintaining peace and stability.

It should be emphasized that the resolution calls on states to unite their efforts in combating common challenges and threats to stability and security in Central and South Asia, recommends continuing and deepening interregional cooperation by expanding transport infrastructure and information-communication technologies, as well as by developing new international transport corridors that provide convenient, sustainable, commercially viable, affordable, accessible, inclusive and safe routes to seaports.

In these processes, Termez has the potential to become a unique platform for connecting the two regions, both in terms of ensuring regional security and in terms of developing trade and economic relations. At the same time, the city of Termez, historically considered as one of the centers of dialogue between peoples and civilizations, the development of trade, humanitarian, and other ties, for many centuries occupied a strategically important position in the region. Thus, the era of the Kushan Empire, Termez served as a major cultural center where various civilizations actively interacted. The city was a significant hub for the transmission of Buddhist art and literature, which spread widely across Central and South Asia. Moreover, from a geographical point of view, Termez was a link between Central and South Asia. It was also one of the key points on the Great Silk Road connecting East and West.

At the present stage, Termez serves as a starting point for the implementation of a number of transport and infrastructure projects, such as the “Termez – Naibabad – Maydan Shahr – Logar – Kharlachi” railway, the “Surkhan – Puli-Khumri” power lines, and others. In general, the significance of the Termez platform lies in the following:

Firstly, in the context of ensuring regional security and stability, the city of Termez has consistently held a central position. Following the events of 11/9/2001 the “Termez Strategic Air Transport Point” was established here, which operated from 2002 to 2015 and ensured the logistics of humanitarian cargo for the International Security Assistance Force in Afghanistan. This experience further reinforced the city’s significance as a secure transit and supply hub during times of military instability.

In addition, Termez is actively used within the framework of Uzbekistan’s joint initiatives with international partners in combating terrorism, drug trafficking, and cross-border crime. In this context, the “Friendship Bridge” connecting Uzbekistan and Afghanistan, plays an important role in ensuring control not only over the movement of people and cargo, but also in monitoring the illegal trafficking of drugs (including synthetic drugs) coming from Afghanistan, which is important for maintaining regional security (for example, employees of the “Ayritom” border customs post in Surkhandarya region in March of this year prevented an attempt to illegally import a batch of narcotic drugs with a total weight of 70 kg and in May of this year – 600 kg).

At the same time, Termez is considered a platform for constructive resolution of border issues. Thus, on August 22-28, 2024, a regular meeting of the working groups of the joint Uzbek-Tajik demarcation Commission was held in Termez. During the meeting, joint work continued on coordinating the passage of the design demarcation line of the Uzbek-Tajik state border, following which a corresponding protocol was signed.

Secondly, the trade, economic, and logistical significance of the city of Termez, as a material foundation for long-term peace and security in Central and South Asia, is determined by its strategic location and modern logistical infrastructure.

In particular, in 2022, “The Termez Cargo Center terminal” received the status of an international multifunctional logistics hub serving cargo flows to Afghanistan and South Asian countries. This, in turn, has elevated its status in international humanitarian infrastructure (from 2025 it has been integrated into the UN High Commissioner for Humanitarian Affairs warehouse network) and contributed to the expansion of humanitarian shipments’ geography (in 2022 humanitarian aid was delivered by air from Termez to flood victims in Pakistan, and in 2023, the UNHCR Regional Humanitarian Logistics Center in Termez sent 12 truckloads of over 48,000 blankets to Afghanistan). It is noteworthy that Termez’s infrastructure is being actively utilized by international organizations to deliver food and medicine to South Asia, which contributes to reducing social tension and preventing the escalation of conflicts caused by humanitarian crises.

Furthermore, the opening of the Termez International Trade Center in August 2024, designed to create a favorable business environment and logistics, simplify administrative procedures and create conditions for entrepreneurs, on the one hand, enhances the city’s economic attractiveness and, on the other hand, stimulates the growth of economic cooperation between Central and South Asia. In this context, it should be noted that on the territory of the Center (37 hectares, 500 meters from the border with Afghanistan), where 3 thousand retail outlets are located, a 15-day visa-free regime has been introduced for visitors.

In this regard, Termez is also considered a suitable platform for conducting bilateral economic relations. Thus, in March and April of 2024 year, representatives of the Afghan delegation, headed by the Minister of Trade N. Azizi and business circles of the Balkh province, visited the city of Termez, where they held a meeting with the Uzbek side to develop bilateral trade and economic cooperation and expand cooperation in such sectors as agriculture, textiles, pharmaceuticals, food, and mining.

Thirdly, the cultural and humanitarian potential of Termez is considered to be of considerable importance. Thus, in 2018, at the initiative of the President of the Republic of Uzbekistan, an educational center for Afghan citizens was created. This educational institution is the only one in the world that provides training exclusively for Afghans in 17 areas of higher and 16 areas of secondary specialized, vocational education. During his functioning, about 700 Afghan citizens underwent training, meanwhile 200 of them are girls.

The institution actively maintains international relations and cooperation with donor countries and foreign organizations such as UNDP, EU, GFR, Slovakia, India. Thus, in January 2023, the “EU Knowledge Center” was opened on the basis of this educational institution to train and educate Afghan citizens (this is a coworking space that provides a platform for joint work, self-learning, and establishing professional connections). Overall, the establishment of an educational center for Afghanistan in Termez will expand access to quality education for Afghan citizens, as well as provide an educational environment and technologies for vocational training.

Therefore, Central and South Asia, dynamically developing regions with stable economic growth and new development opportunities, have significant potential due to their rich resources, economic complementarity, demographic potential, common tasks, and geographical proximity. At the same time, Uzbekistan’s efforts are aimed at integrating the two regions within a single space of cooperation, security, and sustainable development.

In these processes, the “Termez platform” not only serves as a constructive mechanism for ensuring security and stability in Central and South Asia, but also has the potential to become an additional tool for developing trade, economic and transport links between the regions. At the same time, a promising area of cooperation for both regions is considered to be, first of all, security issues, including the fight against terrorism, extremism, drug trafficking, as well as the development of interaction in the fields of transport, tourism, and education.

Gulamov Asliddin Gapparovich,

Researcher at the Higher School of Strategic Analysis and Prognosis of the Republic of Uzbekistan

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

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

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

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

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

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

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

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

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

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

Why Cooperation Is Acquiring a New Quality

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

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

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

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

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

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

From Raw-Material Trade to Value Chains

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

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

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

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

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

Technology, Financing and Human Capital

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

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

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

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

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

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

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

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

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

From Bilateral Partnership to a Regional Dimension

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

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

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

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

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

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

On 19 February of this year, a meeting was held between J. Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of the Republic of Uzbekistan, and A. Mesarović, Deputy Prime Minister and Minister of Economy of the Republic of Serbia. During the talks, the parties discussed the current state of and prospects for bilateral trade, economic and investment cooperation.

At the beginning of the meeting, the Deputy Prime Minister of Serbia conveyed sincere greetings and best wishes from President of Serbia A. Vučić to President of the Republic of Uzbekistan Sh. Mirziyoyev. She also expressed gratitude for Uzbekistan’s principled position in support of Serbia’s territorial integrity.

The Serbian side noted that, in recent years, Serbia has become one of Europe’s leading countries in attracting investment. It was emphasized that new technologies, robotics, the automotive industry and high-tech manufacturing are developing rapidly.

The Uzbek side, in turn, provided information on Uzbekistan’s stable macroeconomic growth, the high rate of GDP growth, declining inflation and the ongoing reforms aimed at improving the investment climate.

During the meeting, the Serbian side raised the issue of facilitating a reduction in customs duties on Serbian-made Stellantis electric vehicles exported to Uzbekistan.

In response, the Uzbek side noted that electric vehicle manufacturers were already operating in Uzbekistan and had assumed certain obligations. At the same time, the Uzbek side stated that the matter would be considered in accordance with the established procedure.

The Serbian side also stated that, within one month, it would submit an official document outlining priority areas relating to investment, preferential trade and the expansion of cooperation. The Uzbek side expressed its readiness to consider these proposals, within the scope of its authority and in accordance with the established procedure. The Serbian side was also informed that the Ministry of Investment, Industry and Trade is the competent regulatory authority in the fields of investment and trade.

In addition, the Uzbek side expressed interest in Serbia’s defence industry capabilities and proposed implementing joint projects in this area.

At the invitation of President of the French Republic Emmanuel Macron, President of the Republic of Uzbekistan Shavkat Mirziyoyev will pay a state visit to this country on March 11-13.

The agenda of the visit to Paris envisages talks and events at the highest level, as well as a number of meetings with official and business circles of France.

The agenda of the upcoming contacts includes issues of further development and strengthening of Uzbek-French multifaceted relations.

Priority attention will be given to expanding mutually beneficial cooperation in trade-economic and investment-financial spheres, promoting cooperation projects with leading companies and enterprises of France.

It is planned to adopt a package of intergovernmental and interdepartmental agreements as a result of the summit.

In addition, the Head of our state will meet with UNESCO Director-General Audrey Azoulay to discuss practical aspects of preparing and holding the 43rd session of the Organization's General Conference in Samarkand this autumn.

It is worth noting the intense program of events on the eve of the forthcoming visit.

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

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

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

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

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

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

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

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

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

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

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

The state visit of the President of the Republic of Korea Yoon Seok-yol at the invitation of the President of the Republic of Uzbekistan Shavkat Mirziyoyev has ended.
During the three-day visit, high-level talks were held, at the end of which the leaders signed a joint statement on further deepening and comprehensive expansion of the Special Strategic Partnership. A bilateral set of documents was received.
The heads of state participated in a joint business forum with the participation of representatives of leading Korean companies and banking and financial institutions.
The presidents visited the Technopark in Tashkent and got acquainted with the existing potential for industrial cooperation.
Today, the dialogue between the heads of state continued in Samarkand. The presidents and their wives got acquainted with the historical and architectural masterpieces of the ancient city.
After the end of the visit, President Yun Sok Yol and his wife were escorted by President of the Republic of Uzbekistan Shavkat Mirziyoyev and his wife at the airport.