The text of the article is in Uzbek!
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
The first session of the Fergana Peace Forum, titled “Fergana Valley: Uniting Efforts for Peace and Progress” is scheduled for October 15–16, 2025, in the city of Fergana.
Next week, the city of Fergana will transform into a focal point for international dialogue and cooperation, hosting key stakeholders from across the region and beyond. This gathering underscores the city’s growing importance as a center for promoting peace, mutual understanding, and collaborative development in Central Asia.
The Forum will be organized by the Institute for Strategic and Interregional Studies under the President of the Republic of Uzbekistan (ISRI), jointly with the Center for Progressive Reforms, the Organization for Security and Co-operation in Europe (OSCE), the International Water Management Institute (IWMI), and the Peacebuilding Hub — a platform that brings together reputable international organizations specializing in peacebuilding and social cohesion.
Entitled “Fergana Valley: Uniting Efforts for Peace and Progress” the Forum is organized in partnership with the National Institute for Strategic Initiatives under the President of the Kyrgyz Republic, the Center for Strategic Studies under the President of the Republic of Tajikistan, and Institute of studying of the problems of Asian and European countries of the National Academy of Sciences of Tajikistan.
The two-day forum will bring together over 300 participants from Central Asian countries, the Commonwealth of Independent States (CIS), as well as from Asia, Europe, and the Americas.
Among the high-level guests are Head of the UNRCCA Kaha Imnadze, European Union Special Representative for Central Asia Eduards Stiprais, Director of the OSCE Conflict Prevention Centre Kate Fearon, Secretary-General of CICA Kairat Sarybay and Deputy Secretary-General of the SCO Sohail Khan.
A key feature of the upcoming session will be its inclusive nature, with participation from representatives of civil society, youth organizations, women’s associations, as well as expert and academic communities.
Leading international peacebuilding institutions such as Berghof Foundation (Germany), the Martti Ahtisaari Peace Foundation (Finland), the PeaceNexus Foundation (Switzerland), and the Stockholm International Peace Research Institute (SIPRI) will also be at the Forum. Reflecting a commitment to be inclusive, the Forum will also draw participation from youth, women groups and the academia circle.
The Forum aims to create a standing platform for promoting dialogue, mutual trust, good-neighborly relations, and for developing a shared strategy for the development of the Fergana Valley.
The forum’s agenda includes discussions on ensuring stability and sustainable development in the Fergana Valley, unlocking its economic potential, strengthening cultural and humanitarian ties, and expanding the roles of the private sector, youth, and civil society.
The Forum will see the first observation of the “Yntymak Day” (“Day of Unity”) which celebrates the unity in diversity spirit of communities in Fergana Valley.
Among the anticipated outcomes of the forum is the adoption of a Communiqué calling for the establishment of a unified space of friendship, good-neighborliness, and sustainable development in the Fergana Valley.
At the 80th session of the United Nations General Assembly, the President of Uzbekistan, Shavkat Mirziyoyev, underlined that “the era of closed borders, unresolved disputes and conflicts in Central Asia has receded into the past. In recent years, the volume of mutual trade, investment and transport flows in our region has increased fivefold. Joint investment funds, cross-border trade and industrial cooperation zones are being established, while major infrastructure projects are under implementation”.
The President of Uzbekistan emphasized that “today marks the beginning of the formation of a New Central Asia. Thanks to its unity, stability, and growing regional identity, it is securing an increasingly strong position as an independent actor in the system of international relations”.
“Peace in Fergana Valley has been made possible by strong commitments in Uzbekistan, Kyrgyzstan and Tajikistan and by the diverse communities who have transformed differences into strength. The First Peace Forum on Fergana Valley will showcase how this political resolve and communities’ bond could usher peace,” said Eldor Aripov, Director of ISRS.
According to him, “The Ferghana Forum is intended to create a new image of the Ferghana Valley as a space of peace, harmony, and opportunity,” demonstrating that the political will of the countries’ leaders and the unity of their peoples can ensure stability and prosperity in the region”.
Dunyo IA
On November 29, President Shavkat Mirziyoyev convened a meeting dedicated to identifying additional opportunities, increasing investments and jobs in Bukhara region.
Previously, the economy of this region was mainly linked to agriculture. However, over the past seven years, the region has attracted more than $4 billion investments, enabling development of such industries as energy, electrical engineering, chemicals, pharmaceuticals, textiles and leather. In the past period of the current year, 1.5 million foreign tourists visited Bukhara.
The visit of the Head of State to the region on May 31-June 1 gave a new impetus to its development. All the tasks outlined during the visit will be fully accomplished by the end of the year.
At the same time, it is important to ensure further growth of economic indicators in 2025, increase employment and well-being of the population. To this end, the working group studied additional opportunities of the region and factors hindering entrepreneurship development.
The critical meeting emphasized that the region's economic performance does not correspond to its potential. Work on investment absorption, poverty and unemployment reduction was recognized as unsatisfactory.
In this regard, the hokims, their deputies and sector heads will be put on emergency duty for a period of six months. The entire focus will be on improving these three areas. Special attention will be paid to implementing 70 driver projects based on the experience of Saikhunobad, Uychi, Zarbdar and Gijduvan. They will provide income to 150 thousand people and lift 40 thousand people out of poverty.
As it was mentioned, each district of the region can be specialized for a certain industry. For example, Peshku and Shafirkan - for production of construction materials and textiles, Kagan city, Alat and Jondor districts - for food industry, Gijduvan and Romitan - for chemical industry. This will make it possible to implement projects of entrepreneurs worth $150 million, create 411 small enterprises and provide 12 thousand jobs.
Four textile factories are planned to be built in Vabkent, Karakul, Jondor and Alat at a total cost of $320 million. This will double the volume of finished knitwear and textile products and create 5,000 jobs.
Next year, the number of foreign tourists is expected to reach 2.2 million and tourism exports are expected to reach $600 million. This will be supported by opening 69 new hotels and 2 thousand handicraft stores.
It is planned to develop additional 20 thousand hectares of land, which will allow to grow additional 100 thousand tons of agricultural products and provide employment for 2 thousand people. Trees and food crops will be planted on vacant homestead land, along canals and field edges.
Another opportunity is pastures. In Bukhara region their area exceeds 2 million hectares. As part of the decisions made at a recent meeting on horticultural development, it is planned to grow pistachios on unused pastures.
Hokim of Bukhara region presented plans to utilize these opportunities. In general, next year 106 projects will be implemented, 105 thousand permanent jobs will be created, exports will be increased by $350 million due to foreign investments worth $2 billion.
The Head of State pointed out the insufficiency of these plans and instructed to intensify efforts and improve results. He tasked to revise the proposals again and draft a relevant resolution.
Starting January 1, 2026, Value-Added Tax will be exempted for Farmers and Dehkan producers
С 1
Almost half of the population of the Republic of Uzbekistan lives in rural areas. Millions of hardworking individuals in these communities play a crucial role in ensuring the country’s food security and establishing a solid foundation for the export of agricultural products. The nation’s development cannot be limited solely to urban centers; it is equally important to ensure that life in rural and peripheral regions is comfortable and sustainable.
The care for rural residents and the stimulation of their activities merit special attention from both the state and society. Governmental support measures have become pivotal in strengthening the agricultural sector.
However, the agricultural industry still faces significant challenges, including high tax burdens and limited access to financing, which contribute to the expansion of the informal economy. According to various estimates, up to half of agricultural producers operate outside the legal framework, resulting in reduced profitability and hindering sectoral development. Without genuine incentives to transition towards a formal economy, the agrarian sector’s capacity for investment and modernization will remain constrained.
In this context, the introduction of a zero rate of Value Added Tax (VAT) starting January 1, 2026, for farmers and dehkan producers selling their own products—including vegetables, fruits, meat, milk, eggs, and other food items—is a timely and significant measure. Producers of grain and cotton are excluded from this provision, as these sectors are regulated through state-managed clusters.
The existing practice of VAT refunds on expenses related to the production of seeds, fertilizers, fuel, logistics, electricity, and other operational costs will remain in place. As a result, farmers are expected to save up to 700 billion Uzbek soms annually.
The zero VAT rate will reduce the tax burden, increase farmers’ net income, and enable the allocation of additional funds toward modernization.
According to projections, farm profitability is expected to rise from 5–7 percent to approximately 15 percent. This measure will also facilitate more accurate planning of subsidies and incentives.
Another positive impact will be the growth of domestic processing industries. When products are processed locally, demand for investment in processing facilities and export logistics chains increases, leading to job creation and improved working conditions.
The reorientation of agriculture towards food crops has been one of the strategic priorities pursued in recent years.
Areas allocated to cotton and grain cultivation are being reduced, while orchards, vineyards, and vegetable crops are being developed instead. Approximately 1,500 food production projects have already been implemented, with a total investment of around one billion dollars.
The introduction of a zero VAT rate will further stimulate processing and export activities, strengthening the potential of the agro-food sector and enhancing the competitiveness and attractiveness of its products on the international market.
For farmers and dehkans, this presents an opportunity to retain a significant portion of their income. The savings can be directed towards farm development, improving working and living conditions, and modernizing production processes. Rural areas will benefit from job creation, technology influx, higher product quality, and a favorable environment for sustainable development.
For the state, this translates into a reduction of the shadow economy, increased transparency in reporting, and more accurate planning of support measures, tax incentives, and development programs. For society at large, it means access to higher quality and more affordable food products, enhanced resilience of the rural economy, and the strengthening of domestic agro-industrial value chains.
Nadira RASHIDOVA,
Member of the Legislative Chamber of the Oliy Majlis.
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
OPEN CALL
The Academy of Arts of Uzbekistan invites you to participate
at the X Tashkent International Biennale
of Contemporary Art,
which will be held from 14 to 18 October 2024 in the city of Tashkent (Uzbekistan). Can take part in the Biennale artists of various areas of contemporary art and present your work on the topic
“Art and World”.
In addition to the main exhibition, the biennale will host a number of artistic and cultural events, such as exhibitions, lectures and master classes, an international conference, and a tour of the cities of Uzbekistan.
All expenses of foreign participants for their stay (meals, internal transportation, accommodation) in Tashkent, except for flights,
will be covered by the Organizing Committee.
Applications for participation in the Biennale are accepted until August 15, 2024 via Google form:
https://forms.gle/aUEMyfrsyQUsrp7b7
(detailed information is given in the attachment to this letter)
*Organizers have the right to make changes to the event program
*Application requirements
X International Biennale of Contemporary Art
(Tashkent, Uzbekistan, October 14-18, 2024)
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Age: |
No limits |
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Country of residence: |
No limits |
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Field of Art: |
All fields of art, Fine and Contemporary Arts |
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Financial Conditions: |
All expenses of foreign participants for their stay (meals, internal transportation, accommodation) in Tashkent, except for flights, will be covered by the Organizing Committee. |
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Application order: |
Applications for participation in the Biennale are accepted only via Google form: |
Requirements for Art Works
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Executor: |
For participation, ArtWork could have one or more authors |
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Material: |
No limits |
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Selection critiries: |
The works made during the last 2 years should be submitted to the competition. In terms of theme and content, they should correspond to the thematic focus of this Biennale, be executed at a high professional level, be conceptual, and carry innovative processes of contemporary art. |
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The procedure for providing information about creative work to the Organizing Committee: |
1) Detailed information of the Art Work will be provided to the Organizing Committee by filling appropriate graph in the online Google form; 2) All Author’s Art Works should be collected in one PowerPoint presentation file (electronic format). The presentation must include only names and photos of the work. 3) Author’s ArtWorks should be provided from four angles; 4) Photo criteries: -Format: JPEG (JPG) or PDF -Minimum resolution: 2048 × 1080 pixels -Maximum size: 2 MB 5) Received works will be checked by the Organizing Committee, and selected Art Works for Biennale would be provided to the authors. |
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Delivery method to the venue of Biennale : |
1) Applicants from Uzbekistan: transportation of the Art Work to the venue of Biennale and back to destination carried out by the participant itself ; 2) Applicants from other countries: transportation of the Art Work to the venue of Biennale and back to destination must be carried as participants baggage (cost of the baggage should be included to the amount of the ticket) |
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Requirements for the weight of the work(s), already packed (for foreign participants): |
up to 15 kg |
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Requirements for the size of packed work (for foreign participants): |
up to 1 cu.m.
*The cost of baggage is no compensated by the Organizing Committee of Biennale |
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Additional conditions: |
1) Participant is responsible for the quality of packed work and safety of the Art Work before unpacking at the destination in Uzbekistan; 2) Organizers are responsible for safety of the work for the period of Biennale; 3) Organizers are responsible for the quality of packed work and safety of the Art Work after unpacking at the destination after shipping it back to the country of destination. 4) Art works could be sold on a commercial basis after performing in the Biennale, regarding the agreement of each side. |
*The organizers have the right to make amendments
Distinguished heads of delegations!
I am sincerely glad to greet you all. I would like to echo the words of gratitude to the President of the Republic of Kazakhstan, H.E. Kassym-Jomart Tokayev, for the warm welcome and excellent organization of our meeting.
I am grateful to the distinguished Federal Chancellor of Germany, H.E. Mr. Olaf Scholz, for his commitment to expanding the multifaceted partnership with the countries of our region.
Our first meeting in Berlin and today's summit reaffirm shared intention to continue an open and constructive dialogue and our focus on achieving concrete practical results.
We are interested in holding regular meetings in this format, with setting up the mechanisms for expert review and implementation of the initiatives put forward.
Distinguished Federal Chancellor!
We highly value Germany's firm and unwavering support for the ongoing democratic transformations and socio-economic reforms in our countries, partnership and integration in Central Asia.
I would like to highlight that our multifaceted relationship has deep historical roots.
In the 18th century, the great composer of the Age of Enlightenment Handel created one of his greatest works – the opera "Tamerlane" – in just 20 days.
The great poet and philosopher Goethe dedicated a number of his famous works to our ancient cities - the centers of civilization.
I would like to mention another historical fact.
At the beginning of the 20th century, a group of talented, progressive young people from Central Asia studied at the leading German universities and subsequently made a great contribution to the promotion of the enlightenment ideas and socio-economic development of our region.
I would like to emphasize that today we see Germany as one of our important partners in achieving national goals of sustainable development.
Let me briefly highlight the profound and fundamental changes that have taken place in Central Asia in recent years.
We have established an open and productive dialogue and are independently addressing many issues related to borders, water, energy, trade and transit.
Recently, the Sixth Meeting of the Heads of State of the region was held here in Astana.
The international stance of the region is strengthening, cooperation with the leading countries via "Central Asia Plus" format is expanding.
The volumes of trade turnover, investment, freight transport and tourist travel by our citizens have increased many-fold.
We are discussing major regional projects in green energy and the development of transport communications.
We are exchanging experience and technologies, creating modern industrial and agricultural enterprises, and introducing financial instruments to stimulate cooperation projects.
Most importantly, we clearly understand that the future of our region, its security and sustainable development depends solely on our political will and efforts.
We sincerely welcome the interest of our European partners, first of all Germany, as the main initiator and driving force behind the promotion of EU strategies and multilateral cooperation programmes with our countries.
We are preparing to hold another summit in Uzbekistan in the format of "Central Asia - European Union" next year, having defined the investment in the future of the region as the main topic of the agenda of the meeting.
Dear colleagues!
Conflicts and wars, the overall global instability and unpredictability, sanctions policy, increased protectionism and many other factors are causing extremely negative impact on our countries and are becoming a serious test to the implementation of national programs and reforms.
Earlier, during our talks in Samarkand, I shared with Chancellor Scholz my high expectations from today’s meeting.
In this regard, I would like to outline our vision of the main directions for developing cooperation with Germany in Central Asia.
First. We highly value the establishment of a strategic regional partnership between Central Asia and Germany, which meets the common interests of maintaining stability, ensuring sustainability and prosperity of the region.
We consider it appropriate to adopt a long-term Concept for the development of our partnership with program activities in priority areas.
In order to develop this document, we propose to consider the possibility of establishing the “Central Asia – Germany” Forum of Analytical Centers. We are ready to hold its first meeting next year in Khiva - one of the region’s historic cities where a large community of German Mennonites used to live.
We also assign an important role to the annual meetings of the heads of the foreign ministries of our countries in preparing the agenda of our summits.
Second. Investment and technological partnership with the leading German companies.
I would like to note that the portfolio of ongoing and promising projects in Uzbekistan with the participation of German companies exceeds 20 billion Euros.
This includes energy, chemical and extractive industries, machine building, textile and food industry, agriculture, transport and logistics, production of construction materials.
The leading German companies, such as Siemens, Linde, BASF, MAN, Claas, Henkel, Knauf and many others are among our partners, which have invested about 6 billion euros into Uzbekistan’s economy in recent years.
Today we will have the opportunity to discuss long-term plans with the representatives of the German business.
In this regard, I have a number of specific proposals:
– developing a "road map" for expanding investment and technological cooperation between the Central Asian countries and Germany;
– participation of the leading German companies and banks in the implementation of joint projects in the special economic and industrial zones being created in the border areas, as well as large infrastructure projects of regional significance;
– launching of a permanent business dialogue platform – “Central Asia-Germany” Council of Investors and Entrepreneurs. We are ready to hold its first meeting next year in Uzbekistan within the Tashkent Investment Forum;
– study of the possibility of adopting a multilateral intergovernmental agreement on promotion and protection of investments.
Third. Partnership in critical raw materials based on the introduction of advanced German knowledge and technologies.
As it was mentioned our region is abundant in mineral resources.
The German Mineral Resources Agency and German companies could become our key partners in this area.
Here, we are referring to the geological survey projects, intensive exploration, processing and production of products with high added value, as well as arrangement of shipments to Germany and other EU countries.
Uzbekistan is ready to take part in the joint implementation of such projects in neighboring countries.
The technical assistance from Germany and European institutions in implementing the Digital Mapping Program of Critical Minerals and Rare Earth Metals in our region holds promising opportunities.
We also believe it is important to establish a reliable legal framework for such cooperation.
Fourth. “Green” energy. In recent years, all our countries have been actively developing solar, wind and hydropower, modernizing thermal power plants and networks, and promoting green hydrogen projects.
We propose to consider launching an Energy Dialogue between Central Asian countries and Germany, involving energy ministries, companies, operators, scientific organizations, design institutes and industry experts.
We are interested in preparing a Comprehensive Capacity Building Program for specialists in the low-carbon economy with the German technical assistance.
Fifth. Joint response to climate change.
Experts predict that the Central Asian region will remain most vulnerable to the effects of global warming. The rise in average temperatures will be twice as high as the world average.
We are grateful to the German side for launching the second phase of the “Green Central Asia” program, assistance provided for the implementation of environmental projects.
We are also interested in the following:
- implementation of joint educational programs and scientific exchanges at the Central Asian University of Environmental and Climate Change Studies;
- adoption of cooperation programs for the introduction of German water management technologies, modernization of irrigation systems, conservation of biodiversity and training of environmental specialists.
We support and are ready to take an active part in the practical implementation of the initiative of the German Chancellor to create a Central Asian Nature Partnership.
Sixth. The biggest barrier to deepening our partnership is the lack of transport connectivity, including land and air.
We count on Germany’s support in engaging European institutions in the development of alternative transportation corridors connecting Central Asia with Europe.
We propose to hold a joint Ministerial Conference next year on improving the transit capacity of such routes.
Dear heads of delegations!
The exhibition of cultural and historical heritage of our region last year at the Neues Museum in Berlin once again demonstrated the need for regular organization of such events.
Over several months, more than half a million of residents and guests of the German capital city enjoyed the exhibition.
We propose to adopt a Joint Plan for Cultural Activities in our countries, consider the possibility of holding Central Asian Art and Film Days in major cities of Germany, and establish cooperation between museums.
In the field of scientific and educational exchange, it is important to launch a platform for partnership among leading universities,
to develop programs aimed at expanding cooperation in the field of dual education, to train German language teachers with the involvement of the Goethe Institute and other German organizations.
The high interest of our youth in learning German is evidenced by the victory of an Uzbek schoolgirl at the World Olympiad held this summer in Göttingen.
Dear colleagues!
We believe it is important to continue close cooperation with Germany in the fields of combating terrorism, extremism and cybercrime, preventing radicalization of youth.
The security situation in Central Asia is inextricably linked with the processes taking place in Afghanistan.
We believe it is important to prevent the aggravation of the humanitarian crisis in this country, which is left alone with its own challenges.
In this regard, we are ready to cooperate with Germany and other European partners in the implementation of joint projects aimed at involving this country into regional economic cooperation and training personnel, including girls and women, in skills that are on-demand for the peaceful life in Afghanistan, at the Educational Center located in the border town of Termez.
In conclusion, I would like to emphasize that Uzbekistan is interested in untapping the potential of Germany’s multifaceted cooperation with the Central Asian region.
I am confident that today’s meeting will serve to further bringing our countries and peoples closer and fill our strategic partnership with concrete projects and programs.
Thank you!
There are about a thousand manufacturing enterprises operating in the electrical engineering sector of Uzbekistan, most of them small, producing over two thousand types of products. Almost all enterprises in the industry are privately owned. The total number of people employed in the industry exceeds 35,000.
The 76 largest enterprises in the industry, which produce over 90% of all electrical engineering products, are members of the Association of Electrical Engineering Manufacturers (UzEltechSanoat). Of these, 18 enterprises manufacture electrical wires and cables, 27 enterprises manufacture household appliances, and 32 enterprises manufacture power transformers and other electrical products.
The Development Strategy of New Uzbekistan for 2022-2026 aimed to increase industrial production by 1.4 times by 2026, including doubling the production of high value-added products in the electrical engineering industry and tripling exports.
The Uzbekistan-2030 Strategy, adopted in September 2023, will ensure the achievement of all the goals outlined in the Development Strategy of New Uzbekistan. It also sets the task of increasing copper processing in the electrical engineering industry to 300,000 tons per year and raising the localization level of manufactured products to an average of 65%.
Therefore, Uzbekistan pays special attention to the development of technologically advanced industries, including electrical engineering, and provides state support.
Over the past seven years, the President of Uzbekistan has adopted several legislative acts providing customs and tax benefits to enterprises in the electrical engineering industry, as well as subsidies to cover transportation and other expenses.
Specifically, until January 1, 2027, enterprises in the electrical engineering industry have received a 50% reduction in profit and property taxes. Additionally, benefits for exemption from customs duties on imported raw materials, components, and equipment for their own production needs have been extended.
Furthermore, several programs have been approved for the implementation of investment projects in the electrical engineering industry, focusing on technical and technological upgrades of existing facilities and the creation of new production lines.
Due to these measures, over the past 7 years, the volume of attracted investments in the industry has amounted to $935 million, of which about $400 million are foreign direct investments.
Additionally, more than 260 new investment projects worth over $800 million have been launched, including 50 cable production projects worth $120 million, 115 household appliance projects worth $380 million, 40 power equipment projects worth $60 million, and 58 other electrical engineering projects worth $250 million.
As a result, over 13,000 new jobs have been created, bringing the total number of jobs in the industry to 35,000.
As a result of implementing investment projects for modernizing and creating new production facilities, the production of new types of electrical engineering products has been mastered, particularly household appliances (washing machines, electric stoves, vacuum cleaners, hoods, water heaters, new models of refrigerators and washing machines under the Samsung brand, SMART HD TVs, built-in hobs and gas stoves, etc.); industrial air conditioners; new types of electrical cables (high and low voltage, used in solar energy systems, household appliances, as well as self-supporting insulated cables); dry transformers; electronics (monoblocks, SIM cards, electronic boards for household appliances); smart meters for electricity, gas, and water consumption; parts for solar panels and renewable energy stations; elevators and escalators; water pumps, etc.
Overall, from 2017 to 2023, the production volume of the electrical engineering industry increased 7.1 times to $1.98 billion, including a 5.5-fold increase in wires, cables, and copper products to $792 million; an 8.2-fold increase in household appliances to $633 million; and a 9.3-fold increase in power and technical equipment to $567 million.
The contribution of the electrical engineering industry to the development of the economy is also growing, and although the share of the industry's value added in the economy is still less than 1%, it has grown 1.5 times in recent years.
The growth in the production of electrical engineering products has contributed to an increase in export volumes, which have grown 5.5 times to $1047 million over the specified period, including a 4-fold increase in wires, cables, and copper products to $576 million; a more than 10-fold increase in household appliances to $214 million; and a 12-fold increase in power equipment and other products to $257 million.
It should be noted that the significant growth (more than 10 times) in the export of household appliances occurred due to the creation of new production facilities in Uzbekistan by Artel Electronics. In particular, the export volume of refrigerators increased 15 times to $58 million, televisions 6 times to $52 million, electric stoves 4.5 times to $40 million, washing machines 5 times to $20 million, air conditioners 4 times to $15 million, etc.
Moreover, not only the geography of export countries has expanded, but also the range of electrical engineering products supplied to foreign markets. Currently, about 200 types of various electrical engineering products are exported to almost 70 countries. The number of exporting enterprises in the electrical engineering industry has grown to 100.
In January 2024, a Presidential Decree "On Additional Measures for Further Increasing the Production and Export Potential of the Electrical Engineering Industry" was adopted, outlining target indicators for the industry's development in the coming years.
Specifically, in 2024, the plan is to increase the volume of production by almost 30% to $2.6 billion, exports by 43% to $1.5 billion, and the volume of copper processing into finished products to 140,000 tons. In 2025, the goal is to increase production to $3.2 billion, exports to $2.0 billion, and copper processing to 160,000 tons.
To achieve these targets, the Program for Creating New Production Capacities and Diversifying Production in the Electrical Engineering Industry in 2024-2026 and Beyond has been approved. The program aims to implement a total of 294 investment projects worth over $4 billion in the coming years.
In conclusion, it should be noted that the necessary conditions have been created in Uzbekistan for enterprises in the electrical engineering industry to increase production volumes and expand the supply of their products to both domestic and foreign markets.
Therefore, goals have been set to increase exports not only to traditional but also to new markets. In particular, there are plans to increase the export of electrical engineering products to European markets, considering the GSP+ preferential trade regime granted to Uzbekistan, as well as to South Asian and Middle Eastern countries.
Yuri Kutbitdinov,
chief Research Officer of the Center for Economic Research and Reforms under the Administration of the President of the
Republic of Uzbekistan
The text of the article is in Russian!
On October 15–16, 2025, the city of Fergana will host the inaugural session of the Fergana Peace Forum under the theme: “The Fergana Valley: Uniting Efforts for Peace and Progress.”
Organized by the Institute for Strategic and Regional Studies (ISRS) under the President of the Republic of Uzbekistan, in partnership with colleagues from Kyrgyzstan and Tajikistan, and supported by national and international organizations, this unique large-scale event will bring together leading experts, researchers, public figures, and representatives of international organizations. Their goal is to discuss the prospects for the development of one of Central Asia’s most densely populated and culturally rich regions — the Fergana Valley.
Experts from prominent think tanks across the CIS, Asia, Europe, and the Americas, alongside academics, business leaders, civil society representatives, and youth leaders from the region, will convene in one place. High-level delegates from international bodies such as the United Nations, the Shanghai Cooperation Organization (SCO), the Commonwealth of Independent States (CIS), the Conference on Interaction and Confidence-Building Measures in Asia (CICA), the European Union, and the Organization for Security and Co-operation in Europe (OSCE) are also expected to participate. Renowned peacebuilding organizations including the Berghof Foundation (Germany), the Martti Ahtisaari Peace Foundation (Finland), PeaceNexus (Switzerland), and the Stockholm International Peace Research Institute (SIPRI) will be among the invited guests.
More than 300 participants will attend the Forum, including around 150 from Central Asia and over 50 from the CIS, Asia, Europe, and the Americas.
Experts believe the Forum will reinforce the vision expressed by Uzbekistan’s President Shavkat Mirziyoyev at the 80th session of the UN General Assembly — the transformation of Central Asia into a space of peace, good neighborliness, and partnership.
As President Mirziyoyev has noted, the region is entering the era of New Central Asia. The days of closed borders, unresolved disputes, and conflicts are becoming a thing of the past. Thanks to growing cohesion, stability, and an emerging shared identity, Central Asia is increasingly recognized as an independent and influential actor on the global stage.
The choice of the Fergana Valley as the Forum’s venue is symbolic. This unique region is where the lifelines of Uzbekistan, Kyrgyzstan, and Tajikistan intersect. The established atmosphere of trust, dialogue, and cooperation between these countries exemplifies the good-neighborly policy championed by President Mirziyoyev.
Historical records mention the ancient Fergana state of Davan, especially the cities of Aksikent and Mingtepa, which were famed for their fertile lands, strong defenses, and prized horses. These are documented in Chinese chronicles from the late 2nd century BCE. By medieval times, the valley was one of the leading regions of Mawarannahr (Transoxiana). Archaeological remains from the Bronze Age, Early Iron Age, and medieval periods testify to the valley’s role as a cradle of multiple civilizations.
The Han dynasty historian Sima Qian wrote: “The people live on the land, tilling fields and growing rice and wheat. They live in houses and fortified cities; there are about seventy or more cities of various sizes in this region.” Medieval Arab geographers described Fergana as a land dotted with many cities and villages, surrounded by steppes and mountains, where both urban life and pastoralism thrived.
Cities such as Kokand, Khujand, Osh, and Margilan were centuries-old centers of craftsmanship, trade, and learning. Caravans of the Great Silk Road passed through here; some of the earliest madrasahs were established in the valley. The region became a crossroads for ideas from Persia, China, India, and the Arab world.
Situated at the intersection of Hellenistic, Bactrian, Parthian, Chinese, and Islamic civilizations, the Fergana Valley is a unique hub of cultural exchange — a legacy evident today in its languages, traditions, cuisine, and architecture.
Experts agree that the peoples of the Fergana Valley form a unified historical and civilizational community — a reality forged over centuries of political, economic, and humanitarian interaction.
The Fergana Valley is living proof that the coexistence of diverse cultures is not only possible but also fruitful. Here, traditions are preserved while new forms of cooperation continuously emerge, from joint celebrations to cross-border initiatives. The region has effectively become a laboratory for cultural convergence, where the ideals of inter-civilizational dialogue are actively realized.
With its rich heritage, dense population, and vast economic potential, the Fergana Valley requires special attention to sustainable development, environmental security, and cross-border cooperation.
Coordinated action and open dialogue are essential here — to foster peace, mutual trust, and progress. The Forum’s agenda addresses a wide range of issues:
Special focus will be placed on turning challenges into opportunities and establishing regional cooperation as a firm foundation for peace and prosperity.
The maturity of the Fergana Valley is reflected in its shared historical and cultural foundation, which allows the countries in the region to build dialogue on existing trust rather than starting from zero.
Today, the Fergana Valley is more than a historical symbol — it is a strategic region for sustainable development and economic cooperation. Joint transport and energy projects, cross-border markets, and digital initiatives are driving dynamic growth.
The Fergana Peace Forum is poised to become not just a discussion platform but an ongoing mechanism for generating ideas, uniting efforts, and advancing projects for the benefit of the entire region.
Organizers highlight that the example of the Fergana Valley could serve as a model for post-conflict regions worldwide, where political stabilization must be accompanied by deep cultural and humanitarian work. Real mechanisms of cooperation are being forged here, grounded in a shared historical and cultural legacy that supports peace and development.
Among the anticipated outcomes of the Forum is the adoption of a Communiqué calling for the establishment of a unified space of friendship, good neighborliness, and sustainable development in the Fergana Valley.
Preparatory discussions have already confirmed that the Fergana Valley is a place where the past inspires, the present unites, and the future is built on values of peace and cooperation.
In a world where conflict has become commonplace and the international community searches for new models of sustainable coexistence, the Fergana Peace Forum offers one clear answer: peace begins with trust, and trust begins with open dialogue.
Fergana is not just a point on the map — it is a space where respect becomes the language of communication, friendship forms the foundation of neighborliness, and cultural diversity is a source of unity.
Dr. Alisher Sabirov, Doctor of Historical Sciences,
Professor, Nizami National Pedagogical University, Uzbekistan;
Adjunct Associate Professor, Shaanxi Normal University, People’s Republic of China