Uzbekistan is entering a period in which domestic transformation is becoming increasingly interconnected with global economic processes. The country has set ambitious goals: accelerating economic growth, advancing the technological modernization of industry, attracting large-scale investment, expanding exports and integrating into international value chains.

This is precisely why discussions within the G20 have practical relevance for Uzbekistan. The issues addressed by the Group of Twenty — sustainable development, industrialization, the energy transition, trade, digitalization, food security, access to capital and the modernization of financial institutions — largely align with the challenges facing the country. The difference lies mainly in scale: while the G20 shapes the key priorities of the global economy, Uzbekistan translates similar objectives into a concrete national development agenda.

The G20 brings together the world’s largest advanced and emerging economies, as well as the European Union and the African Union. Its members account for approximately 85% of global GDP, more than 75% of international trade and around two-thirds of the world’s population. For Uzbekistan, the G20 represents a platform where major global trends are shaped, including the cost of capital, the structure of demand, investment flows, industrial standards, trade rules and approaches to sustainable growth.

Investment: A Focus on Trust and Long-Term Capital

The global investment landscape is changing. Capital is becoming increasingly selective, while investors are paying greater attention not only to market size and natural resources, but also to the quality of institutions, regulatory predictability, the protection of business rights, access to infrastructure and the clarity of the legal environment.

This shift is particularly relevant for Uzbekistan. In recent years, attracting investment has become one of the central pillars of the country’s economic policy. At the Fifth Tashkent International Investment Forum, President Shavkat Mirziyoyev noted that Uzbekistan’s economy grew by 7.7% in 2025, while the country attracted USD 43 billion in foreign investment. GDP is expected to exceed USD 180 billion in 2026.

These figures reflect not only strong economic growth, but also the emergence of a new model of engagement with the international business community. Uzbekistan is strengthening its role as a stable platform for long-term capital, industrial cooperation and the regional expansion of companies.

The establishment of the Tashkent International Financial Centre plays an important role in this process. Its legal framework provides for a special regulatory regime, elements of English common law, an independent commercial court, the free movement of capital, the ability to conduct transactions in any currency, and the development of fintech, digital assets and green finance.

Such initiatives enhance Uzbekistan’s attractiveness to international businesses. They create an environment in which capital protection, transparent rules, modern financial instruments and institutional trust become integral components of the country’s overall investment architecture.

Against this backdrop, practical cooperation between Central Asia, international development banks, export credit agencies, sovereign wealth funds and the private sector is becoming increasingly important. For Uzbekistan, it is essential to establish mechanisms that facilitate the preparation and financing of specific initiatives in transport and digital infrastructure, power grids, energy storage systems, water conservation, agricultural technologies and the processing of critical minerals.

This approach is fully aligned with the priorities of the G20: investment should support not only the implementation of individual projects, but also the development of resilient infrastructure for long-term growth. Uzbekistan, for its part, is ready to offer its partners a well-prepared portfolio of projects and stable long-term conditions for their implementation.

Industry: Transitioning to a More Sophisticated Economy

One of the central themes of the G20 agenda is the development of a new generation of industry. This extends beyond increasing production volumes to encompass technological modernization, resilient supply chains, localization, advanced processing, innovation and the creation of high-skilled jobs.

For Uzbekistan, this approach is of direct relevance. The country is steadily transitioning from an economic model primarily based on raw materials and traditional manufacturing advantages toward one in which processing industries, technology, industrial cooperation and the export of higher value-added products play an increasingly important role.

Over the coming years, Uzbekistan aims to increase industrial value added from USD 36.5 billion to at least USD 60 billion, while expanding output in high-technology and medium-high-technology industries by a factor of 2.5. In 2026, the country plans to launch 782 new industrial and infrastructure projects with a combined value of USD 52 billion.

This approach is fully consistent with modern industrial policy. Manufacturing is viewed not merely as the production of goods, but as the foundation for technological resilience, employment, export growth, energy efficiency, logistics and participation in global manufacturing value chains.

A broad range of opportunities is emerging for Uzbekistan across metallurgy, the chemical industry, electrical engineering, machinery manufacturing, automotive components, pharmaceuticals, construction materials, textiles, agro-processing and digital infrastructure. In each of these sectors, the country seeks not only to expand production volumes but also to deepen value-added processing, improve product quality and access new markets.

Critical minerals have also become an increasingly important topic. For the world's leading economies, they are closely linked to the energy transition, digitalization, battery technologies, industrial modernization and secure supply chains. For Uzbekistan, with its rich mineral resource base and developing metallurgical sector, this resource advantage can serve as the foundation for new industrial clusters and production partnerships with international investors.

At the same time, it is essential that such cooperation goes beyond the simple export of raw materials and instead focuses on creating complete value chains within the region. This includes advanced processing, technology transfer, workforce development, strengthening engineering capabilities and creating highly skilled jobs. Such a model will enable Uzbekistan to reinforce its industrial self-sufficiency while becoming an even more significant partner for major international markets.

Trade: Connectivity as a Driver of Competitiveness

The relevance of the G20 is particularly evident in the area of trade. The world's largest economies already occupy a prominent place in Uzbekistan's external economic relations.

Between January and May 2026, Uzbekistan's foreign trade turnover reached USD 32.8 billion. Its key trading partners include China, Russia, Kazakhstan, Türkiye, France, the Republic of Korea and Germany. Most of these countries are either G20 members or are closely integrated into its broader economic architecture.

Decisions taken by the world's largest economies have a direct impact on the conditions of Uzbekistan's foreign trade. Technical standards, quality requirements, rules of origin, tariff policies, logistics routes, environmental regulations and digital trade procedures have become part of the day-to-day business environment for Uzbek exporters.

As a landlocked country, transport connectivity is of particular strategic importance for Uzbekistan. In today's global economy, export competitiveness depends not only on product quality but also on the speed, cost and reliability of delivery. Consequently, the development of East-West and North-South transport corridors passing through Central Asia has become an integral part of the country's trade, transport and industrial policy.

Achieving this objective requires practical solutions, including the digitalization of transit procedures, mutual recognition of electronic transport documents and certificates, coordinated operation of border crossing points, the reduction of unjustified fees and the implementation of the "One Border – One Stop" principle. The effectiveness of these measures should be assessed not by the number of agreements signed, but by tangible reductions in delivery times and transportation costs.

At the same time, Uzbekistan's export performance demonstrates important structural changes. Between January and May 2026, exports of goods excluding gold increased by 29.4%. This indicates that the country is steadily expanding the non-resource component of its foreign trade while strengthening its competitive position in industrial products, textiles, agro-processing, services, transport and other sectors.

At this stage, it is important not only to increase export volumes but also to improve their quality. Modern trade requires internationally recognized certification, consistency, strong branding, efficient logistics and the ability to meet the standards of major global markets. International standards and domestic reforms are becoming increasingly interconnected: external markets establish the requirements, while government policy helps businesses meet them.

WTO: Rules, Trust and Market Access

Uzbekistan's accession to the World Trade Organization is now approaching its final stage. This is no longer merely a technical process, but one of the key components of the country's economic transformation toward a more open, predictable and competitive model of development.

In June 2026, the issue gained additional political and practical momentum. During the meeting between President Shavkat Mirziyoyev and United States Trade Representative Jamieson Greer, particular attention was devoted to cooperation in the context of Uzbekistan's accession to the WTO and continued U.S. support for this process. At the same time, the United States officially reaffirmed its support for Uzbekistan's membership and recognized the substantial progress achieved by the country in this area.

For Uzbekistan, WTO membership represents the institutionalization of a new economic model based on reducing unnecessary trade barriers, enhancing regulatory transparency, improving the business and investment climate, expanding opportunities for exporters and strengthening the confidence of the international business community in the Uzbek market.

Integration into the WTO framework is closely linked to Uzbekistan's investment, industrial and trade agenda. For investors, it serves as a signal of greater policy predictability. For exporters, it provides access to a transparent and rules-based international trading system. For industry, it creates incentives to improve product quality, competitiveness and compliance with modern international standards. Accordingly, WTO accession should be viewed as a natural continuation of the comprehensive reforms already underway.

The New Economy: Global Trends and Uzbekistan’s Development Path

The global economy is undergoing profound structural transformation. Supply chains are being reshaped, competition for capital and technology is intensifying, and the importance of energy resilience, food security, digital infrastructure and industrial capabilities continues to grow. These are precisely the issues at the heart of the G20 agenda.

For Uzbekistan, this transformation reinforces the relevance of the country's chosen development path. The nation is already advancing in areas that are becoming fundamental to the new economy, including investment openness, industrial modernization, transport connectivity, energy development, digital transformation, export expansion and integration into the international rules-based trading system.

As the world's leading economies focus on supply chain resilience, new opportunities emerge for Uzbekistan in logistics, industrial cooperation and regional specialization. The global energy transition is increasing demand for renewable energy, critical minerals and energy-efficient industries. Food security concerns are enhancing the importance of agro-processing and cooperation with neighboring markets. Meanwhile, the growing emphasis on digitalization and financial resilience underscores the strategic importance of fintech, IT infrastructure, artificial intelligence and modern financial institutions.

At the same time, the transition to a low-carbon economy and the adoption of new digital standards must be both fair and practically achievable for developing countries. For Uzbekistan, it is essential that new international requirements be accompanied by transparent rules, reasonable transition periods, mutual recognition of equivalent standards, access to technology and financing, and support for exporters in implementing carbon accounting, product traceability and international certification systems.

In this context, the priorities discussed within the G20 closely align with the reforms already underway in Uzbekistan. The G20 therefore provides an international framework in which the country's development strategy receives both practical relevance and additional validation.

Strategic Priorities for Growth: Capital, Technology and Exports

From the perspective of investment, industry and trade, the G20 agenda highlights several strategic priorities for Uzbekistan.

The first is capital. Uzbekistan must continue developing an investment ecosystem in which international businesses see not only promising projects but also long-term institutional reliability. This requires further development of the country's financial centre, special legal regimes, industrial zones, digital public services, investor protection mechanisms and comprehensive investment facilitation.

The second priority is industry. Uzbekistan should continue strengthening its position in higher value-added manufacturing by expanding advanced processing, developing local component industries, enhancing engineering capabilities and fostering technological partnerships. This will enable the country to become a fully integrated participant in increasingly sophisticated global manufacturing value chains.

The third priority is trade and connectivity. Export policy should be built around quality, international standards, certification, logistics, branding and reliable access to global markets. For a landlocked country, this also requires continuous investment in transport corridors, transit digitalization, lower logistics costs and greater supply chain predictability. The steady growth of non-resource exports already demonstrates that Uzbekistan is moving in the right direction, while WTO accession is expected to provide additional momentum and long-term stability.

The fourth priority is partnerships. Most of Uzbekistan's principal trade and investment partners are either G20 members or closely connected to its broader economic architecture. Accordingly, cooperation with China, Russia, Türkiye, the Republic of Korea, Germany, France, India, Japan, the United States, the European Union and the Middle East should be viewed as part of a unified strategy for integration into global networks of capital, technology and markets.

Uzbekistan and the G20: Shared Priorities, Practical Outcomes

For Uzbekistan, the G20 reflects the global processes that are becoming increasingly intertwined with the country's own development trajectory. While the G20 focuses on sustainable growth, Uzbekistan is implementing large-scale economic reforms. As industrialization remains at the forefront of the international agenda, the country is strengthening its industrial base and pursuing greater technological sophistication. As discussions center on trade and investment, Uzbekistan continues opening its markets, improving its regulatory framework and establishing modern institutions for investment and capital.

The greatest value of the G20 agenda for Uzbekistan lies in the convergence of strategic priorities. The global economy is entering a new era in which capital, technology, production and trade are being fundamentally reconfigured. In this environment, Uzbekistan seeks not only to adapt to the evolving economic landscape but also to secure a stronger and more competitive position through structural reforms, openness, industrial development and long-term international partnerships.

Central Asia plays a particularly important role in this process. The region is steadily emerging as a strategic bridge between major global markets, while Uzbekistan is becoming one of the key platforms where transport corridors, industrial value chains and investment projects are translated into tangible economic outcomes.

This is the practical significance of the G20 for Uzbekistan. It provides a clearer understanding of the direction of the global economy, enables the country to align international developments with its national priorities and transforms global trends into concrete opportunities for sustainable growth. For Uzbekistan, this represents the continued implementation of its own long-term development strategy, built upon comprehensive reforms, national interests and the growing strategic potential of Central Asia.

The evolution of the Organization of Turkic States (OTS) has attracted particular attention from the international expert community, especially in the context of sustainable development, where Uzbekistan’s accession in 2019 became a catalyst for creating new opportunities for joint progress among Turkic countries.

Originally established on October 3, 2009, as the Cooperation Council of Turkic-Speaking States, the organization has undergone significant institutional evolution and was officially renamed the Organization of Turkic States at the 8th Summit in Istanbul on November 12, 2021. This decision reflected not only the deepening interaction among member states but also their shared aspiration to develop a collective approach to contemporary risks and challenges related to the sustainable development of the Turkic world—a role in which Uzbekistan soon assumed a prominent position.

Uzbekistan’s policy within the OTS has been primarily manifested in the economic sphere, where deeper integration has become not only a sign of growing mutual trust but also a practical foundation for jointly ensuring stability and sustainable development.

By 2024, mutual trade among OTS member states exceeded $45 billion, and the combined GDP of the five member states reached $1.9 trillion, demonstrating increasing economic interdependence. According to data from the Center for Economic Research and Reforms (CERR), Uzbekistan’s trade turnover with OTS countries grew from $3.34 billion in 2016 to $9.4 billion in 2023, reaching $10 billion by 2024—nearly triple the figure from seven years earlier.

This dynamic growth in economic ties has not only strengthened mutual interest among OTS countries in regional stability but also laid a solid foundation for a new approach to security—one actively promoted by Uzbekistan in its foreign policy.

An analysis of initiatives put forward by President of Uzbekistan Shavkat Mirziyoyev at OTS summits confirms Tashkent’s consistent and systematic approach to strengthening regional security. In place of the traditional military-political dimension, Uzbekistan advocates a model in which security is understood as the outcome of sustainable development, interconnectedness, and long-term, structured cooperation.

This approach is embodied in the following strategic directions, covering key aspects of contemporary security:

First, Uzbekistan was among the first in the region to propose cooperation in responding to systemic threats. During the COVID-19 pandemic (April 2020), Tashkent proposed establishing a permanent mechanism for epidemiological surveillance, a coordination group under the OTS Secretariat, and partnership arrangements with the World Health Organization (WHO).

Following the earthquake in Türkiye (March 2023), Tashkent initiated the creation of an OTS platform for practical cooperation on disaster prevention and response, as well as the development of a multilateral agreement on risk reduction and the establishment of a Natural Disaster Monitoring Center in Tashkent.
All these measures aim at early warning, reducing vulnerability, and enhancing collective resilience—key elements of preventive security.

Second, Uzbekistan advances sustainable development through deeper economic interconnectivity.

In transport, Uzbekistan proposed joint use of the multimodal corridor “Tashkent–Karakalpakstan–Aktau–Baku–Tbilisi–Kars–Istanbul,” implementation of a “single window” system and “green corridors” along the Trans-Caspian route, and full digitalization of road transport through the eTIR system. In 2022, Uzbekistan and Azerbaijan became the first countries to successfully carry out a transport operation using electronic eTIR carnets.

In food security, Uzbekistan proposed developing a multilateral agreement on supply systems and cooperation with the Food and Agriculture Organization (FAO).

In the environmental sphere, Tashkent proposed establishing a Turkic environmental protection body headquartered in the Aral Sea region, forming an Environmental Council, and adopting a “Turkic Green Energy Transition” concept.
All these initiatives create an infrastructure-economic foundation for security, reducing dependence on external shocks and strengthening regional autonomy.

Third, Tashkent’s key contribution lies in promoting the institutionalization of the OTS. At the Samarkand Summit (November 2022), Uzbekistan proposed creating dedicated ministerial-level committees on energy, IT, healthcare, and other sectors.

Later, Uzbekistan initiated hosting the headquarters of strategically important OTS bodies in Tashkent, including the Emergency Response Center, the Council of Railway Administrations, the Turkic Investment Bank, the Research Center for Human Capital Development, and the Academy of Space Research.

During Uzbekistan’s OTS Chairmanship (2022–2023), over 100 events were held, and new cooperation platforms were established, including the Organization of Trade Unions of Turkic States and the Institute for Drought Prevention.
These measures enhance joint preparedness and rapid response capabilities to contemporary challenges, strengthen trust among member states, and support sustainable development.

Fourth, alongside deepening cooperation in humanitarian, economic, and legal spheres, Uzbekistan consistently develops avenues of interaction related to coordinating responses to threats to regional stability.

For example, at the Shusha Summit in July 2024, Uzbekistan proposed formulating unified OTS approaches to the Afghan issue in light of the new regional realities. Such initiatives reflect Tashkent’s commitment to consolidating foreign policy positions and developing a coordinated strategy on the most sensitive issues of regional stability.

Thus, Uzbekistan’s initiatives within the OTS form a comprehensive, prevention-oriented model of sustainable development, in which humanitarian, economic, environmental, and political components are viewed as interdependent. Tashkent’s approach not only aligns with current trends in international relations but also creates conditions for strengthening the strategic autonomy of the Turkic world amid global fragmentation.

However, it should be noted that this model is not developed in isolation. On the contrary, it is organically complemented by the OTS’s external openness and its aspiration to integrate into the international architecture of relations through cooperation with key global and regional institutions. This helps avoid duplication, enhances the legitimacy of OTS initiatives, and aligns them with international standards.

In this process, Uzbekistan plays a significant role by consistently promoting synergy between the OTS and multilateral platforms, particularly in epidemiological, environmental, and humanitarian areas.

The OTS maintains especially close cooperation with the United Nations and its specialized agencies. Uzbekistan’s 2021 initiative to establish a Turkic environmental body under UN auspices, headquartered in the Aral Sea region, directly integrates regional efforts into the global environmental agenda.

Proposals for cooperation with the UN Food and Agriculture Organization (FAO) (2022) and collaboration with the World Health Organization (WHO) (2020) further demonstrate the desire to leverage the UN’s expertise and institutional capacity to implement homegrown security mechanisms.

Additionally, Tashkent initiated partnerships with the UN Office for Disaster Risk Reduction (UNDRR) and the Global Facility for Disaster Reduction and Recovery (GFDRR) in the context of establishing the Natural Disaster Monitoring Center (2023), underscoring the OTS’s commitment to the principles of sustainable development and preventive security enshrined in the UN 2030 Agenda.

Simultaneously, the OTS is expanding its international presence: in 2024, the organization obtained observer status in the Economic Cooperation Organization (ECO), submitted similar applications to the UN and the Organization of Islamic Cooperation (OIC), and strengthened ties with the EU and OSCE through its European office in Budapest. At the Budapest Informal Summit (May 2025)—the first ever organized by an observer country—the Budapest Declaration was adopted, reaffirming the OTS’s commitment to combating terrorism, cyber threats, and organized crime.

This foreign policy orientation is also confirmed by assessments from international analytical circles.

According to an analytical report by the Global Security Research Center at the Geneva Centre for Security Policy (GCSP), the OTS demonstrates a unique model of regional cooperation that combines cultural identity with pragmatic measures to reduce vulnerability to transboundary threats. Experts from the “AIR Center” (Azerbaijan) note that for Central Asian countries and Azerbaijan, the OTS has become a strategic shield against external threats and a platform for asserting independence.

Thus, the OTS not only strengthens the collective resilience of its member states to external challenges but also creates a space for developing joint approaches to implementing projects aimed at the sustainable development of Turkic countries.

In this regard, Uzbekistan consistently promotes a comprehensive, prevention-oriented model for addressing risks and factors undermining sustainable development, in which traditional threats are complemented by non-traditional challenges—from pandemics and natural disasters to destructive ideologies. Particular emphasis is placed on building trust through humanitarian diplomacy, youth initiatives, cultural rapprochement, and institutional cooperation.

In the context of regional stability, Uzbekistan advocates for unified approaches to the Afghan issue, supports counter-terrorism and anti-organized crime efforts, and initiates mechanisms for collective crisis response.

The adoption of the Charter of Turkic Peace at the 11th OTS Summit in Bishkek, along with President Shavkat Mirziyoyev’s proposal at the same forum to sign a Treaty on Strategic Partnership, Eternal Friendship, and Brotherhood among Turkic States, became pivotal factors in shaping a long-term architecture of trust and shared responsibility.

Overall, Uzbekistan’s initiatives within the OTS represent a comprehensive strategy aimed at creating an alternative model for ensuring sustainable regional development, grounded in the cultural-historical commonality and economic interconnectedness of Turkic countries.

Alisher Kadyrov,

Today, global development is proceeding at an unprecedented pace of urbanization — by 2050, nearly 68% of the world’s population is expected to live in cities.

This process is also advancing rapidly in Uzbekistan: the country’s population has exceeded 38 million, the urbanization rate has reached 51%, and nearly 20 million people now live in urban areas.

According to economic analyses, every 1% increase in the urbanization rate grows the economy by at least 1% and accelerates investment flows and startup development — making reforms in this sector of strategic importance.

With this in mind, within the framework of Uzbekistan’s urbanization policy, the practice of “chaotic construction” has been abandoned in favor of smart and integrated territorial development — an approach recognized as essential in global best practices.

One of the most important institutional steps was the establishment of the National Committee for the Sustainable Development of Urbanization and the Housing Market. This body serves as the central “think tank” unifying architecture, economics, and social policy into a single system.

To reduce administrative barriers in the construction sector, the number of permitting stages has been cut by a factor of 3, and processing timelines by a factor of 4. Additionally, 420 outdated urban planning norms have been restructured, replaced by 140 modern regulatory documents.

Furthermore, in Uzbekistan, land ownership no longer automatically grants the right to build — the process is now based on the principle of integrated territorial development.

Most importantly, a strict principle has been enshrined in law: schools, clinics, and modern utilities must be built before or simultaneously with residential construction.

These new mechanisms provide, above all, trust and financial stability. To ensure stability in the housing market and strengthen buyer confidence, measures have been taken to fully eliminate the risk of “unfinished constructions.” To this end, a system of escrow accounts is being widely introduced in Uzbekistan for the first time.

Through this modern mechanism, citizens’ funds are securely held in banks until the keys to the property are handed over. Developers, in turn, gain access to affordable and convenient project financing. As a result, urban development has transformed from a chaotic process into a managed industry operating under transparent rules.

Development Strategy and Achievements

Over the past eight years, 120 million square meters of housing have been built across the country. The total volume of construction work grew from 30 trillion soums in 2016 to 314 trillion soums last year, and the sector now employs more than 3.5 million people.

According to the state’s long-term priority strategy, the following key targets have been set:

• Raise the urbanization rate to 60%;
• Increase housing provision from 18.9 square meters per capita to 23 square meters;
• Nearly double the annual housing construction volume to 30.3 million square meters.

Innovative Mega-Projects and an Ecological Approach

The most vivid practical expression of this strategy is the “New Tashkent” mega-project, rising across 20,000 hectares. Designed for a population of 1 million residents, this ecologically clean, high-tech metropolis implements the globally recognized “15-minute city” concept. The project includes the creation of a 420-hectare “green belt,” the planting of 200,000 trees, and a fully ecological transport system (electric buses, metro, and bicycle lanes).

These high living standards are not limited to the capital. Across the country, 56 “New Uzbekistan” residential districts, each designed for at least 70,000 residents and equipped with rich social infrastructure, are being constructed at an accelerated pace.

In conclusion, Uzbekistan has formed a sustainable and effective model for managing urbanization, encompassing the National Committee, the escrow system, and the smart “New Uzbekistan” districts. By transforming modern cities into ecologically clean, socially oriented, and livable spaces, the country is establishing a high benchmark for urbanization in the Eurasian region.

Central and South Asia are increasingly facing the same reality: climate risks are no longer a distant forecast. Droughts, water scarcity, heatwaves, land degradation, dust storms, floods, and pressure on water, food and energy security are already affecting economies, public health, infrastructure, and the resilience of entire regions.

This is why the second meeting of the Termez Dialogue on Connectivity between Central and South Asia is of particular significance. The second meeting is organized by the Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan and the Ministry of Foreign Affairs of the Republic of Uzbekistan, in partnership with the Conference on Interaction and Confidence Building Measures in Asia. This format reflects Uzbekistan’s consistent foreign policy direction aimed at strengthening trust, open dialogue, and sustainable connectivity between the regions.

While the first meeting introduced the Termez Dialogue as a platform for bringing the two regions closer together, the new agenda takes the next step: moving from a discussion of connectivity to practical mechanisms for joint climate adaptation and stronger environmental resilience. Its task is to move from conceptual discussions to concrete priorities and practical mechanisms, with joint adaptation to climate change identified among the key areas of cooperation.

Climate as a New Test of Connectivity

Climate change shows how closely water, food, energy, transport, health, and ecosystems are linked. When water availability declines, the impact is not limited to agriculture. It also affects hydropower, food prices, migration, employment, soil conditions, and even regional stability. As extreme heat becomes more frequent, cities, transport systems, healthcare systems, and labour productivity all come under pressure.

The Synthesis Report of the Intergovernmental Panel on Climate Change (IPCC), prepared as part of the Sixth Assessment Cycle, emphasizes that adaptation is already taking place in all regions of the world, but the gap between what is needed and what is being done remains and will continue to grow at the current pace of action. The IPCC also underlines that the most effective responses are not isolated measures, but integrated solutions that connect water management, agriculture, infrastructure, social protection, ecosystems, and population needs.

This is particularly important for Central and South Asia. Both regions depend on mountain watersheds, irrigated agriculture, the resilience of rural areas, as well as stable and secure energy supply and the cross-border movement of goods and people. Climate adaptation, therefore, cannot remain solely a matter of national policy. It must become part of interregional cooperation.

Uzbekistan: The Data Confirm the Urgency of Action

Uzbekistan’s Fourth National Communication under the UNFCCC identifies the country as among the most vulnerable to the impacts of climate change in Central Asia and Eurasia. This vulnerability is linked to accelerated temperature rise, growing water scarcity, glacier retreat, and the increasing frequency of extreme hydrometeorological events.

Water remains an especially sensitive factor. Uzbekistan’s water resources belong to the Aral Sea basin, while the main surface runoff of the Amu Darya and Syr Darya rivers is formed outside the country. This means that Uzbekistan’s climate resilience is directly linked to the quality of regional and interregional cooperation. Water, data, forecasts, infrastructure, and trust become part of one security system.

Cities as a New Frontline of Climate Adaptation

The climate agenda is also becoming increasingly connected with the future of cities. Speaking at the Leaders’ Summit of the 13th session of the World Urban Forum in Baku, President of Uzbekistan Shavkat Mirziyoyev noted that, over the next 15 years, the country’s population is expected to grow from 38 to 50 million people, while the urbanization rate is projected to rise from 51% to 65%.

For Uzbekistan, this is not only a demographic trend but also a climate challenge. Urban growth increases pressure on water, energy, transport, housing, air quality, and green spaces. Therefore, plans for sustainable urbanization — including the development of “green”, “smart”, “safe”, and “15-minute” cities, the expansion of urban greenery, and the introduction of green city principles — are directly linked to climate adaptation.

In this context, the Termez Dialogue can become a platform for exchanging experience not only on water and agriculture, but also on climate-resilient urban development: from reducing the urban heat island effect and saving water to clean transport, digital air quality monitoring, and designing new districts with climate risks in mind.

A New Emphasis: Adaptation as a Practical Development Agenda

The Termez Dialogue can offer an important new approach: to view adaptation not as a response to crises, but as an investment in sustainable development. This changes the very language of climate policy.

Adaptation is not only about building protective infrastructure or responding to emergencies. It is about more accurate forecasting of droughts and floods and data exchange between countries. It is about water-saving agriculture, the modernization of canals, pumping stations, and urban infrastructure. It is about restoring degraded lands and ecosystems. It is about preparing farmers, engineers, hydrologists, energy specialists, and local authorities to operate under new climate conditions.

This is why the Concept of the second meeting of the Termez Dialogue emphasizes the consolidation of efforts by states and partners to develop coordinated and mutually reinforcing approaches to climate adaptation and to reducing the socio-economic consequences of climate and environmental risks.

Why Central and South Asia Must Adapt Together

Climate risks do not recognize borders. Drought in one part of the region can affect food markets in another. Glacier retreat changes river regimes far beyond mountain areas. Dust storms, heatwaves, and extreme rainfall can affect several countries at once. Joint adaptation is therefore a practical necessity.

The IPCC stresses that around 3.3 to 3.6 billion people worldwide live in conditions of high vulnerability to climate change. It also emphasizes that the vulnerability of people and ecosystems is interconnected: the degradation of ecosystems increases risks for people, while social vulnerability reduces societies’ ability to adapt.

For Central and South Asia, this means that resilience must be built across several dimensions at once: water, food, energy, environment, and society. Food and environmental security cannot be strengthened without water. Infrastructure cannot be modernized without climate forecasts. Risks cannot be reduced without trust and information exchange.

Termez as a Place for Climate Partnership

The choice of Termez has both historical and practical significance. Termez is Uzbekistan’s southern gateway and a natural bridge between Central and South Asia. In today’s conditions, this role acquires new meaning: the city is becoming a symbol not only of transport and trade connectivity, but also of climate partnership.

Afghanistan has a particularly important role. The idea of the Termez Dialogue implies the need for the gradual integration of Afghanistan into regional economic, transport, humanitarian, and climate processes with the support of the international community. In the climate agenda, this is especially meaningful: without Afghanistan’s participation, it is impossible to build genuinely sustainable connectivity between Central and South Asia.

What the Termez Dialogue Can Deliver

The Termez Dialogue can become a platform for launching several practical areas of cooperation.

First, the exchange of climate and hydrological data, including forecasts of droughts, floods, glacier changes, and dust storms.

Second, the joint promotion of early warning systems, so that countries can prepare in advance for extreme weather events.

Third, the development of climate-resilient agriculture: water-saving technologies, drought-resistant crops, digital services for farmers, and the restoration of pastures and soils.

Fourth, ecosystem-based adaptation — the restoration of forests, wetlands, mountain and desert ecosystems that themselves serve as natural protection against climate risks.

Fifth, climate-resilient infrastructure — from transport corridors and logistics centres to energy facilities and rapidly growing cities.

From a Common Challenge to Shared Resilience

The main value of the Termez Dialogue is that it allows the climate agenda to be discussed not in the language of alarm, but in the language of joint solutions. Central and South Asia can not only exchange risk assessments, but also create common adaptation mechanisms: from scientific networks and pilot projects to investment programmes and regional standards for resilient infrastructure.

The new climate agenda of the Termez Dialogue is part of the larger idea of connectivity. Genuine connectivity is not only about roads, trade, and energy corridors. It is also about the capacity of countries to jointly protect ecosystems, human health, and the future of coming generations. The Termez Dialogue can become the space where Central and South Asia move from recognizing their shared vulnerability to building shared resilience.

D.R. Ziganshina, SIC ICWC | 20 May 2026

Annotation. The Ferghana Valley is the historical heart of Central Asia, where a new model of regional cooperation based on trust, good neighbourliness and sustainable development is currently taking shape. The initiative
of the President of Uzbekistan Shavkat Mirziyoyev to hold the Ferghana Peace Forum reflects a common desire among the countries of the region to strengthen mutual understanding and create the area of peace, stability, and shared prosperity.

INTRODUCTION

Historically, the Fergana Valley was a shared space where countries used common resources and people kept close ties. For centuries, the valley was
at the crossroads of key trade routes connecting the West and the East.

The establishment of an atmosphere of good neighbourliness
 in the Ferghana Valley reflects positive developments throughout Central Asia. Essentially, this is the result of political will, a concentrated expression
of the joint efforts of the leaders of all five countries to maintain security
and stability in the region.

Holding the Fergana Peace Forum in Fergana on October 15–16, 2025, confirms the statement made by the President of Uzbekistan at the 80th session of the UN General Assembly about the transformation of Central Asia into
an area of peace, friendly relations and partnership.

FROM A ZONE OF TENSION TO A SPACE OF TRUST

In the early years of independence, unresolved border issues and
the existence of numerous ethno-territorial enclaves served as grounds
for viewing the region as a conflict zone.

However, today, thanks to the political will and joint efforts of the leaders
of states, the Fergana Valley, previously perceived as a “powder keg,”
“Achilles' heel,” and “hot spot,” is becoming a symbol of peace, sustainable development, and a space of opportunity.

In recent years, Uzbekistan, Tajikistan and Kyrgyzstan have made significant progress in diplomacy and establishing stable political contacts.

The visits of the countries' leaders and their participation in regional forums and organizations such as the Shanghai Cooperation Organization
and the Consultative Meeting of the Heads of Central Asian States contribute
to the deepening of political and economic ties. The development of bilateral
and multilateral relations in the political sphere has helped to create a solid foundation for regional integration and mutual support.

Moreover, all five Central Asian countries contribute to the sustainable development of the Ferghana Valley. Joint water and energy projects are being implemented. In January 2023, Uzbekistan, Kazakhstan and Kyrgyzstan signed
a “”Road Map” for the implementation of the Kambarata HPS-1 construction project, and in June 2024, an interdepartmental agreement on preparations
for the implementation of the project.

A new phase of regional diplomacy began in 2017 with the election
of Shavkat Mirziyoyev as the President of the Republic of Uzbekistan. Relations
with neighbouring countries reached a qualitatively new level. Dialogue based on the principles of openness, respect, and equality laid the foundation
for long-term friendly coexistence.

Thanks to the political will of the leaders of the three states—Uzbekistan, Kyrgyzstan, and Tajikistan—historic agreements were reached in 2025
with the signing of the Treaty on the Junction Point of the State Borders
of  Three States and the Khujand Declaration on Eternal Friendship.
These documents became a symbol of a new era of trust and creative partnership. The treaty legally established the borders of the three states
at a concrete point in the Ferghana Valley.

This breakthrough did not come unexpectedly, without preparatory work. In the preceding months, on March 13, 2025, Kyrgyzstan and Tajikistan signed an important agreement on the demarcation of their common border—the final stage of their long negotiations.

Kyrgyz President Sadyr Zhaparov noted that regional integration continues to develop actively, and the strengthening of cooperation
in all spheres will be the key to sustainable development and prosperity throughout Central Asia.

In turn, Tajikistan President Emomali Rahmon called the development
of relations between the three countries based on the principles of good neighborliness, equality, and mutual respect one of the priorities of Tajikistan's foreign policy.

The international community particularly highlights the indispensable role of Uzbekistan's President Shavkat Mirziyoyev, who initiated a new diplomatic line: "Borders should not divide, but unite our peoples."

This approach creates a model for peaceful transformation, where internal rather than external factors shape the architecture of trust, friendship, and good neighbourliness.

The formation of the area of stability and cooperation in Ferghana Valley was achieved without external involvement, solely through the strong political will of the leaders of the three states, combined with the desire of the peoples
of the region for peaceful coexistence, creating a solid foundation for lasting peace and prosperity.

Ferghana Valley – an “exemplary model” for building inter-state relations in other regions

The Ferghana Valley is one of Central Asia's unique oases – a place where the destinies of the peoples of Uzbekistan, Kyrgyzstan, and Tajikistan have intertwined. More than 17 million people live here, accounting for 20%
of the total population of Central Asia, which is around 83 million.

Today, the valley is gradually becoming a symbol of the new Central Asia – a region where borders are not barriers, but bridges of interaction.
The development of transport, trade, and humanitarian ties between Uzbekistan, Kyrgyzstan and Tajikistan paves the way for the formation of a single space
for interaction in the name of common prosperity.

Joint infrastructure and economic projects, the restoration of roads
and railways, the development of border logistics hubs, and the modernization of checkpoints are creating conditions for the free movement of people, goods, and ideas.

Communications between the Ferghana Valley and the outside world are actively developing. Today, it is being integrated into international multimodal transport corridors and is gradually regaining its status as an interregional transit hub connecting East and West.

In this regard, the China-Kyrgyzstan-Uzbekistan railway project is of great importance. If implemented, it will have a multiplier effect on the economies
of all countries in the region.

The railway will provide access to the ports of the Persian Gulf
and the Pacific Ocean, open up new markets, thereby diversifying the economy and creating new jobs.

Visa regimes are being simplified and the throughput capacity at border crossing points is being improved, which will encourage more mutual travel
by citizens.

Uzbekistan maintains a visa-free regime with all Central Asian countries except Turkmenistan. In particular, there are currently 17 border crossing points between Uzbekistan and Tajikistan and 25 between Uzbekistan
and Kyrgyzstan. In 2016, there were only 13 between Uzbekistan
and Kyrgyzstan, and all of them operated with restrictions. For example, currently, up to 20,000 people pass through the Dustlik checkpoint
on the Uzbek-Kyrgyz border every day, which is 100 times more than in 2016.
At the same time, the number of vehicles passing through has increased tenfold, reaching 700 per day.

The Mingtepa and Khanabad border checkpoints were opened in 2023, and the Uchkurgan and Karasu checkpoints in 2024. These points had been closed since 2009-2010.

Today, citizens of Uzbekistan and Kazakhstan can travel to each other's countries for up to 30 days without registration. A visa-free regime
for up to 60 days has been established between Uzbekistan and Kyrgyzstan,
and since September 1, 2023, it has been possible to use ID cards
(instead of foreign passports) for mutual travel between the two countries.

The time required for goods and people to cross the border has been reduced to an unprecedented eight minutes. In turn, citizens of Tajikistan
and Uzbekistan can stay in each other's territory for up to 30 days
without a visa. This, in turn, contributes to the intensification of cooperation
and improved mutual understanding between the peoples of the Fergana Valley.

On the whole, a common space is forming in the Ferghana Valley, as it has throughout history. The restoration of the valley's interconnectedness contributes to the stability and sustainable development of the entire region.

The international community's keen interest in these processes confirms that Central Asia is becoming an important center for the formation of a culture of peace. The initiatives put forward by Uzbekistan have received support
from the UN, OSCE, EU, and other international partners, which strengthens
the legitimacy and sustainability of regional efforts.

The Ferghana Peace Forum has a special place in this process—it's not just a diplomatic meeting, but a platform for developing a new philosophy
of regional cooperation. This forum brings together political leaders, experts, and public figures, offering an open dialogue on strengthening peace, trust,
and sustainable development in Central Asia.

 The event will enable the countries of the region to independently shape their own architecture of stability and sustainable development, based
on mutual respect and the desire for a better future for new generations.

CONCLUSION

The Ferghana Valley is gradually transforming into a space of peace
and harmony, where peoples find common ground and jointly strengthen
the region's stability.

The establishment of the atmosphere of friendship and
amicable relations in the Ferghana Valley shows that, even in today's turbulent global environment, ensuring stability in the region is an achievable goal. 

This process requires patience, wisdom, and willingness to make reasonable compromises. Uzbekistan, Kyrgyzstan, and Tajikistan have demonstrated these qualities and their ability, despite complex challenges,
to unite for common goals such as strengthening security and sustainable development.

In turn, the Fergana Peace Forum is called to become a permanent platform aimed at strengthening dialogue and trust, ensuring sustainable development of the Ferghana Valley, unlocking economic potential,
and strengthening cultural and humanitarian ties. This meeting reflects the unity of the countries in the region, which are determined to build a common future together.

Authors: Diloram Mukhsinova and Bekhzod Alimjanov,

senior researchers at the Center for Foreign Policy Studies

(Uzbekistan)

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

Stolen cultural property dating back to the 2nd and 3^rd centuries AD has been returned to Uzbekistan following a large-scale investigation involving law enforcement agencies and scholars from across Europe.

A number of artefacts, illegally smuggled from the Central Asian republic that was once the heart of the Bactrian and Kushan empires, were presented by the Metropolitan Police's Art and Antiquities Unit at the Embassy of Uzbekistan. They will subsequently be transported back to their homeland, where they will take a prominent place in the exhibition of the recently opened Center of Islamic Civilization in Tashkent.

The event serves as vivid evidence of Uzbekistan's consistent policy regarding the repatriation of national cultural heritage and highlights the growing global trend toward the protection of cultural values.

“This event is a compelling confirmation of the broad international support for the consistent course of the President of Uzbekistan Shavkat Mirziyoyev, aimed at returning cultural treasures to their homeland, - noted Firdavs Abdukhalikov, Director of the Center of Islamic Civilization in Tashkent and Chairman of the Board of the World Society for the Study, Preservation and Popularization of the Cultural Legacy of Uzbekistan (WOSCU). - We are deeply grateful to our partners and law enforcement representatives from European countries for their support and look forward to further cooperation in preserving and restoring our cultural heritage”.

Detective Sophie Hayes of the Metropolitan Police, addressing a gathering of prominent scholars and officials, emphasized that the recovered artefacts are the heritage not only of Uzbekistan but of all humanity. According to her, the investigation was conducted with the assistance of both national and international specialists, as well as the Organization for Security and Co-operation in Europe (OSCE), with the support of the World Society for the Study, Preservation and Popularization of the Cultural Legacy of Uzbekistan (WOSCU).

The items presented at the exhibition are among the findings discovered in November 2025 during an investigation codenamed Operation Inherent Vice by the police.

A total of nine artefacts were on display, including statue heads and fragments of gypsum frescoes. These monuments date from the 2nd-3rd to the 7th century AD and hold exceptional historical significance for both Uzbekistan and the broader Islamic world.

“The return of these priceless artefacts is not only a victory for New Uzbekistan but also a compelling testament to the power of international cooperation in preserving the country's historical heritage, - added Mr. Abdukhalikov, noting that cultural organizations, legal institutions and diplomatic missions have confirmed their readiness to assist Uzbekistan in recovering its lost treasures”.

The ceremony reflected a broader trend toward strengthening global interaction in the field of cultural heritage protection, with a particular focus on increasing transparency and adhering to ethical standards in the art and antiquities market.

The Center of Islamic Civilization also announced its intention to participate in the upcoming Sotheby’s and Christie’s auctions and to visit art galleries in London. These initiatives are aimed at acquiring new items of Uzbek cultural heritage for the purpose of their preservation and return to the homeland.

“Uzbekistan's efforts to return and protect its cultural heritage continue to attract the attention and support of the international community. We are setting a powerful example of coordinated action in the field of restitution of cultural property”, - emphasized Mr. Abdukhalikov.

“The returned items possess exceptional historical and scientific value, as they belong to various eras of the ancient history of the territory of modern Uzbekistan and reflect the diversity of civilizational processes that have occurred in Central Asia over the centuries”, - noted Dr. Farhod Maksudov, Director of the National Center of Archaeology (Institute of Archaeology) of the Republic of Uzbekistan.

IA “Dunyo”

New trends in Central Asian politics of Uzbekistan

Uzbekistan's policy in Central Asia has reached a qualitatively higher level. The trend of developing mutually beneficial cooperation between the countries of the region is intensifying with its own characteristics. According to President Shavkat Mirziyoyev, Uzbekistan has given priority to strengthening relations of close friendship and cooperation with neighboring countries, and over the past historically short period - the political position and influence of our country in the Central Asian region and the Middle East. The world has grown dramatically. The spirit of trust in New Uzbekistan and the principles of striving for cooperation with our country have increased in the world.

Central Asia is a region with important and unique resources, economic and communication potential. In the 90s of the 20th century, the countries of the region embarked on their own independent path of development and joined the ranks of developing countries, promoting humanism, social justice, and security. in the region there is international harmony, peace and well-established foreign policy activities and international cooperation, based on the principles of international law, such as the creation of an atmosphere of peace, and consistently developing them.

In the direction of the foreign policy of New Uzbekistan, in establishing practical cooperation in the countries of Central Asia, the fifth priority direction of the “Uzbekistan-2030” strategy has been identified - the consistent continuation of a policy based on the principle of “A Safe and Peaceful State”. the region to a new level of quality, good neighborliness and strategic partnership with all neighboring countries, pays special attention to the rapid development of relations, regular and effective conduct of bilateral and multilateral negotiations in political, economic, cultural and humanitarian areas.

The measures taken by the government of the Republic of Uzbekistan to expand mutual cooperation between the countries of the region also play an important role. It should be noted that as a result of President Shavkat Mirziyoyev’s reforms in the field of foreign policy, diplomatic relations of Uzbekistan with the countries of the Central region literally rose to a new level.

The fact that Shavkat Mirziyoyev began his first visit to foreign countries as President of Uzbekistan with a visit to the countries of Central Asia, literally indicating that he has raised the development of regional cooperation to a new level.

On March 6-7, 2017, Shavkat Mirziyoyev made a state visit to Turkmenistan. It should be noted that this was Sh. Mirziyoyev’s first visit to a foreign country as the President of the Republic of Uzbekistan. This state visit of the President clearly confirmed that Uzbekistan attaches great importance to good neighborly relations in foreign policy, and was supported by the signing of the Strategic Partnership Agreement between Uzbekistan and Turkmenistan.

The visit of President Shavkat Mirziyoyev to Kazakhstan on March 23, 2017 and the signing of a Joint declaration on deepening the strategic partnership and strengthening the friendly neighborhood between the two countries opened a new era in interstate cooperation. Thanks to the joint efforts of Uzbekistan and Kazakhstan, in 2017 the volume of bilateral trade reached 2 billion US dollars, and such direct contacts serve as the basis for the effective implementation of bilateral and multilateral cooperation.

Following the state visit of President Shavkat Mirziyoyev to the Kyrgyz Republic, a declaration was signed on strengthening strategic partnership, friendship, good neighborliness and trust.

In 2018, the implementation of the new policy of the President of Uzbekistan to strengthen political trust and mutual solidarity in Central Asia continued consistently. In particular, President Sh. Mirziyoyev visited this country on March 9-10, 2018 at the invitation of the President of the Republic of Tajikistan E. Rahmon. During the visit, the leaders of the two countries signed a Joint Statement on Strengthening Friendship and Good Neighborhood and an Agreement on Certain Sections of the Uzbek-Tajik State Border.

In addition, as a result of the continuation of negotiations of the Republic of Uzbekistan on the delimitation and demarcation of the state border with neighboring countries, the delimitation of the state border lines with Kazakhstan has been completed, 85 percent of the border with Kyrgyzstan has been passed. agreed upon, and 99.9 percent of the border with Tajikistan has been agreed upon.

At the end of 2021, trade turnover between Uzbekistan and Tajikistan amounted to almost 600 million US dollars. The number of joint ventures has increased 10 times. If in 2017 there were 24 enterprises operating in Uzbekistan, then by the end of 2021 240 enterprises with the participation of Tajik capital began operating. There are 61 enterprises operating in Tajikistan based on investments from Uzbekistan.

On June 2-3, 2022, the presidents of Tajikistan and Uzbekistan Shavkat Mirziyoyev and the presidents of Tajikistan signed a historic declaration “On strengthening eternal friendship and alliance.” In addition, documents signed at the level of government, ministries and departments are designed to raise multifaceted Uzbek-Tajikistan cooperation to a new level.

Analyzing the platforms and formats of interstate dialogue organized on the initiative of Uzbekistan on regional cooperation, it should be noted that, on the initiative of the head of Uzbekistan, consultative meetings of the leaders of Central Asian countries are regularly held.

Consultative meetings are systematically organized as part of this initiative (March 2018, Kazakhstan; November 2019, Uzbekistan; August 2021, Turkmenistan; July 2022, Kyrgyzstan; 2023, Tajikistan). As positive trends in Uzbekistan’s policy in Central Asia, practical proposals made at these meetings can be noted. In particular, at the fourth consultation meeting held in Kyrgyzstan, he put forward a number of proposals that meet the interests of the region. In particular, the interests of the region today are served by such proposals as the creation of a system of border trade zones with unified and simplified procedures for the delivery of goods to Central Asia and the holding of a Central Asian festival of culture, art and cinema in each country.

Indeed, here it is permissible to note the high assessments expressed by many foreign experts to the initiatives of Uzbekistan. For example, Li Yunxuan, director of the Institute of European and Asian Social Development under the State Council of China, says: “Uzbekistan is an active participant in the processes of strengthening regional and interregional cooperation, in the mechanism of consultative meetings of leaders of Central Asian countries, in ensuring the effectiveness of cooperation on topical issues of ensuring regional stability and development plays an important role.

Indeed, as a result of the growing role of Central Asia in modern international relations, “the spirit of trust in New Uzbekistan and the principles of cooperation with our country have increased in the world.” ... Our countries, which have been common brothers and sisters from time immemorial, began to act in close cooperation on many regional and global issues and socio-economic development.

The phrase “spirit of Central Asia” has appeared in world political science.

On September 14, 2023, President of Uzbekistan Shavkat Mirziyoyev spoke at the fourth consultative meeting of leaders of Central Asian countries held in Tajikistan and put forward a number of proposals to strengthen new trends in the Central Asian region. politics of Uzbekistan. Including the development of trade and economic cooperation in the region; development of industrial cooperation; increasing interdependence in transport; ensuring security in the energy sector; ensuring food safety; Combating the threats posed by climate change.

The issue of creating an interstate economic council to expand practical cooperation on the entire range of trade and economic issues in the region also deserves attention. Another platform implemented at the initiative of Uzbekistan is the Central Asian Economic Forum. On March 15, 2019, the first Central Asian Economic Forum was held in Tashkent with the participation of deputy prime ministers of Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan. Positive results were achieved through discussion at the forum of issues of further development of regional cooperation, studying the possibilities of the transport and communications complex, increasing the volume of mutual trade and the attractiveness of tourism.

At the initiative of Uzbekistan, in order to ensure good neighborliness and interethnic harmony between the peoples of the countries of Central Asia, on November 15, 2019, an international conference was held in Tashkent with the participation of experts and scientists from foreign countries on the topic “Central Asia is our common home,” which serves to bring the countries of the region closer together in cultural and humanitarian sphere.

Uzbekistan's policy in Central Asia is consistent in identifying new trends, ensuring stability and security.

On March 9-10, 2018, the President of the Republic of Uzbekistan Shavkat Mirziyoyev made a state visit to the Republic of Tajikistan. At the high-level meeting, special attention was paid to strengthening interstate cooperation in the areas of ensuring regional security and stability, promoting the solution of international problems, combating terrorism and extremism and other types of organized transnational crime, which is an important achievement of Uzbekistan. diplomacy in ensuring regional security and stability. According to Tajik expert Kasimsho Iskandarov, relations between Tajikistan and Uzbekistan depend on the political will of state leaders. After Shavkat Mirziyoyev came to power, relations between the two countries changed dramatically. The rapid development of Tajik-Uzbek relations has solved many problems not only between the two countries, but also between all countries in the region. The political environment for developing regional cooperation has improved. 

Also, on the initiative of President Shavkat Mirziyoyev, on June 22, 2018, the UN General Assembly for the first time adopted a resolution “Strengthening regional and international cooperation to ensure peace, stability and consistent development in the Central Asian region”.  Our opinion is confirmed by the fact that Uzbekistan has put forward proposals for the formation of a regional system for forecasting emergency situations in the region, their prevention, early warning and joint counteraction.

It is worth noting that there are several factors that contribute to the development of good neighborly relations, such as mutual trade, investments and joint projects.

If we look at the numbers, we can witness that Uzbekistan’s trade turnover with the countries of Central Asia has grown to an unprecedented level. Trade turnover in 2017 amounted to $2.4 billion, and by the end of 2019 it reached $5.2 billion. In two short years the growth was 150 percent. Despite the restrictions caused by the pandemic, the growth in freight volumes observed in Central Asia in 2020 demonstrates the enormous potential for further expansion of international roads and railways and strengthening of transport and logistics infrastructure. In this regard, on August 6, 2021, within the framework of the third consultative meeting of leaders of Central Asian countries, at the Economic Forum of Central Asian Countries, held in the Avaza National Tourist Zone (Turkmenistan), the Uzbek side discussed the development of transport corridors connecting the countries of Central Asia, increasing efficiency use of the transit potential of the countries of the region, and also, it is worth noting that he made a proposal to strengthen cooperation on the harmonization and digitalization of customs clearance procedures. It is worth noting that “in recent years, radical reforms in our country, a consistent and active foreign policy, especially strengthening the environment of close neighbors in the Central Asian region, have increased the international prestige of our country”.

If we evaluate the new trends in the Central Asian policy of Uzbekistan, we can see that their impact on regional interaction and international relations is acquiring positive significance.

It should be noted that on December 19, 2019, at the plenary meeting of the UN General Assembly, a special resolution “Sustainable tourism and sustainable development in Central Asia” was adopted, proposed by President Shavkat Mirziyoyev.

In short, the special significance of the approaches in the regional policy of Uzbekistan lies in the fact that they serve to strengthen the belt of security, stability and cooperation throughout the region. In the context of increasing threats to regional and global security, the socio-economic well-being of countries, Uzbekistan is of great importance in determining new trends in the politics of Central Asia and the prospects for jointly combating modern dangers and threats.

Mirzayev Gulom,

Doctor of philosophy in historical sciences (PhD), associate professor at the University of Public Safety of the Republic of Uzbekistan

The declaration of independence and the commitment of the Government of Uzbekistan to the ideals of democracy, the choice of a secular path of development of society have gradually made it possible to create equal legal conditions for the existence of religions in general and religious groups in particular.

In the religious sphere, this large-scale work is carried out by the relevant state bodies and civil society institutions and is aimed at ensuring citizens' constitutionally guaranteed right to freedom of conscience; strengthening religious pluralism, tolerance and interfaith dialogue.

One of the significant results of joint work is the adoption in December 2018 by the UN General Assembly of a special resolution "Enlightenment and Religious Tolerance".

The adoption of the resolution was a practical implementation of the initiative of the President of the Republic of Uzbekistan Shavkat Mirziyoyev, put forward at the 72nd session of the UN General Assembly. The main goal of the proposed resolution is "to ensure universal access to education, the elimination of illiteracy and ignorance."

It is noteworthy that the resolution was not only unanimously supported by all UN member states, but also adopted with the co-authorship of over 50 countries. This testifies to the high recognition by the international community of the relevance and timeliness of the initiative of the President of Uzbekistan.

In recent years, significant changes have taken place in Uzbekistan and large-scale reforms have been implemented in many areas, including in the religious and educational sphere.

A number of legislative acts have been adopted aimed at further improving activities in the religious sphere.

In order to deepen the study of Islam and teach its scientific foundations, the International Islamic Academy of Uzbekistan was created. The Academy specializes in teaching secular and religious knowledge, training qualified personnel in the interpretation of the Koran, Islamic law, religious dogmas and hadiths.

In Uzbekistan, unique mechanisms are used to revive national and religious values, study and promote the rich scientific and spiritual heritage of great ancestors, and strengthen religious tolerance in society. The activities of the Center for Islamic Civilization, international research centers of Imam Bukhari, Imam Termizi, Imam Maturidi, Bahauddin Naqshbandi have been established.

As a result of large-scale reforms and transformations carried out in the religious sphere, the Higher Madrasah Mir Arab in Bukhara, the School of Hadith Studies in Samarkand, the Madrasah of Imam Termizi and the Islamic Institute named after Imam Termizi in Termez began their activities.

In addition, the Charitable Public Fund "Vakf" was established under the Office of Muslims of Uzbekistan, whose tasks include financing work on the reconstruction of mosques, holy places of pilgrimage and visits, other objects, providing material and technical support and providing material support to employees in this field. The Fund received the opportunity to dispose of funds coming to 3 accounts: charitable, vakf and zakat (ushr, fidya, fitr).

In accordance with the adopted legislative acts, in order to further improve the activities of the Committee on Religious Affairs, a new composition of the Council for Religious Affairs has been approved, which is a public advisory body under the Committee.

The activities of the Council are inextricably linked with ensuring freedom of religion in the country, respecting the rights of religious organizations and believers. The initiatives of the members of the Council are fully implemented within the framework of measures taken by the country's leadership in the field of protecting and further strengthening the rights and freedoms of religious movements.

The significance and timeliness of the measures taken by the country's leadership served as the basis for holding the international forum "Dialogue of Declarations" in Tashkent, Samarkand and Bukhara on May 16-20, 2022. This event was part of the systematic and consistent efforts of Uzbekistan to practically implement the principles and provisions enshrined in the Special Resolution of the UN General Assembly "Enlightenment and Religious Tolerance", adopted in 2018 on the initiative of President Shavkat Mirziyoyev.

It is especially worth noting that at the past 76th session of the UN General Assembly, the "Bukhara Declaration" adopted following the results of this forum was recognized as an official UN document. As an official UN document, the document has been translated into 6 languages and distributed among the UN member states, as well as specialized agencies of the organization.

The second round of the international forum will be held on September 10-13, 2025 with the assistance of several NGOs from the USA. The participants of the event also visited Samarkand, where they got acquainted with the activities of the reconstructed complex of Imam Bukhari.

Uzbekistan has special dates that are closely related to the religious life of believers: these are "Day of Friendship of Peoples", celebrated on July 30, and "International Day of Tolerance", celebrated on November 16. Both of these dates are marked not only by holding events, but also by awarding the corresponding badges - the badge "Khalklar dustligi" ("Friendship of Peoples") has been awarded since 2021, and the badge "Diniy bagrikenklik" ("Religious Tolerance") began to be awarded to distinguished citizens since 2023. Among the awardees are representatives of various religious denominations of Uzbekistan.

At the same time, Uzbekistan attaches great importance to the preservation of religious and spiritual heritage, the enrichment of existing funds, the creation of necessary conditions for local and foreign researchers to work with historical sources, and the comprehensive study of historical and cultural heritage.

Today, in the country, in order to ensure interethnic and interfaith harmony in society, a legislative framework has been created that provides for the observance of the rights and legitimate interests of citizens.

The Constitution of the Republic of Uzbekistan enshrines the norm on freedom of religion for every person. Attention is also paid to improving and liberalizing national legislation in the field of religion. The procedures for obtaining permission for the production, import and distribution of religious literature have been simplified. The procedure for state registration of religious organizations has been further optimized.

Currently, the new Law "On Freedom of Conscience and Religious Organizations" is in force, which contributes to ensuring the constitutional rights of citizens of the country to freedom of conscience and religion.

Noting the fundamental innovations in the Law as a consistent continuation of large-scale reforms in the religious and educational sphere, special attention should be paid, first of all, to the creation of favorable conditions for ensuring freedom of conscience for every person, and clarifying law enforcement practice.

Currently, 2373 religious organizations of 16 religious denominations operate in Uzbekistan. Of these, Muslim organizations - 2174, which is 92 percent of the total number.

There are also 181 Christian organizations, 8 Jewish communities, 7 Baha'i communities, one Krishna society and one Buddhist temple, as well as the interfaith Biblical Society of Uzbekistan operating in Uzbekistan.

Recently, 134 religious organizations have been registered in Uzbekistan, including 3 higher and one secondary specialized Islamic educational institutions in Bukhara, Samarkand and Termez, 105 mosques and 25 non-Islamic organizations of 7 different religious denominations.

At the same time, the national legislation of Uzbekistan does not provide for any restrictions on the number of religious organizations or the terms of their registration.

Religious organizations operating in the republic, along with other public organizations, actively participate in spiritual and educational work, make a significant contribution to improving the spirituality of society, and forming strong beliefs in young people based on patriotism, as well as interfaith and interethnic tolerance.

It should be noted that religious policy in Uzbekistan is based on the principles of the secular nature of the state, religious tolerance and equal treatment of all religions. In the republic, representatives of various nations and ethnic groups professing Islam, Christianity, Buddhism, Judaism and other religions carry out their activities on equal terms.

All conditions have been created for adherents of each denomination, allowing them to freely and unhindered practice their religion.

Believers freely pray in mosques, churches, synagogues, observe fasting, and also make pilgrimages. Religious organizations have the right to own territory, publish literature, train their religious ministers, and organize pilgrimages to holy places.

The freedom of religion guaranteed by the national legislation of Uzbekistan has created all the necessary conditions for meeting the religious needs of all citizens - representatives of 136 national and ethnic groups.

Representatives of different faiths freely celebrate all religious holidays. Thus, from year to year, Kurban-Hayit and Ramadan-Hayit are celebrated on an increasingly large scale among Muslims, Easter and Christmas - among Christians, Pesach, Purim and Hanukkah - among Jews, Navruz - among Baha'is, as well as celebrations dedicated to Buddha and Krishna and other major events.

Believers make pilgrimages to holy places: Muslims to Saudi Arabia to perform the Hajj and Umrah rituals, Christians - to Russia, Greece and Israel, Jews - to Israel.

Over the years of independence, more than 484 thousand Muslims have made pilgrimages to Saudi Arabia, including 188 thousand - Hajj and 296 thousand - Umrah, more than 3.2 thousand Christians and Jews have visited religious shrines in Israel, Russia, Turkey, Italy, Georgia, Greece.

To meet the spiritual needs of society, a large number of religious literature of various orientations is published annually. To fully cover the religious life of Uzbekistan, a number of newspapers and magazines are published, including the newspapers "Islom nuri", "Slovo zhizni", the magazines "Khidoyat", "Vostok svyshe".

Today, in Uzbekistan, on a systematic basis, a set of measures is being carried out to protect the population from the negative influence of destructive ideas that reflect radical extremist ideology and religious fanaticism.

An important step in this direction was the application of acts of pardon. In particular, since 2017, 29 decrees of the President of the Republic of Uzbekistan have been adopted on pardoning persons who have committed crimes.

It should be noted that in recent years, within the framework of the consistent policy pursued in Uzbekistan in the field of protecting the rights and freedoms of citizens, special attention is paid to measures aimed at protecting the rights, freedoms, honor and dignity not only of citizens residing in the republic, but also of our compatriots who find themselves in difficult life situations in foreign countries.

Unfortunately, some of our citizens, who have fallen under the influence of alien ideas, believing false promises, in different years joined the ranks of international terrorist organizations in armed conflict zones abroad. Spouses, fathers of some women returned as part of humanitarian operations, died in the course of armed clashes.

Given this circumstance, on the instructions of the President of Uzbekistan, five humanitarian actions "Mehr" were successfully carried out in 2019-2021, within the framework of which more than 500 citizens of the republic, mainly women and children, were returned to their homeland from the zones of armed conflicts in the Middle East and in Afghanistan.

In order to further assist in their speedy reintegration and rehabilitation, a set of measures has been implemented at the state level to provide timely medical, psychological, material and moral assistance. To date, all returnees have been provided with the necessary conditions for their adaptation to peaceful life and integration into society, access to educational and other social programs has been provided, including through the provision of housing and employment.

In general, it is worth noting that an important distinguishing feature of the religious life of modern Uzbekistan is the inadmissibility of establishing advantages or restrictions for one religion in relation to other denominations.

One of the main priorities of reforming society in order to ensure interethnic harmony and religious tolerance is to ensure and protect the rights and freedoms of citizens, their equality before the law regardless of race, gender, nationality, language, social origin, beliefs, religion, personal and social status, which are enshrined in the Constitution of Uzbekistan.

Uzbekistan consistently and steadily fulfills its international obligations in the field of ensuring religious freedoms within the framework of international human rights treaties.

As is known, Uzbekistan has acceded to more than 70 major international human rights instruments. Accession to these documents contributed to the creation of an effective human rights protection system in Uzbekistan.

It is important that Uzbekistan's policy in the field of religion, aimed at strengthening interfaith dialogue and religious tolerance in society, is an important factor of stability and security.

In conclusion, I would like to emphasize that the large-scale reforms being carried out in the country are a clear confirmation of the consistent continuation by the President of the Republic of Uzbekistan of the implementation of the principle "Everything in the name of man, in the name of his future."

Committee on Religious Affairs

The exhibition will bring together more than 100 companies and brands from 12 countries.

The specialised international exhibition of the beauty, cosmetology, and perfumery-cosmetics industry – Beauty Uzbekistan 2026 – will take place from April 28 to April 30 at the CAEx Uzbekistan exhibition complex in Tashkent.

Beauty Uzbekistan is a professional B2B exhibition that brings together manufacturers and distributors of cosmetic products, aesthetic medicine specialists, retail representatives, salon business owners, and professionals in the personal care sector. The exhibition provides direct access to leading global brands, innovative products, and cutting-edge technologies, while offering valuable opportunities to establish business connections, and gain early insight into key trends in the beauty industry.

The exhibition will feature more than 100 companies and brands from 12 countries: Azerbaijan, China, Georgia, Italy, Kyrgyzstan, Republic of Korea, Poland, Russia, Sweden, Spain, UAE, and Uzbekistan. National pavilions from the Republic of Korea and Poland will showcase advanced beauty industry solutions and the export potential of these countries.

According to the organizers, the main sections of the exhibition are:

- Beauty Uzbekistan – covering the full spectrum of the perfumery and cosmetics industry, including makeup and skincare cosmetics, fragrances, personal care products, and hair industry products.

- Beauty Derma Central Asia – a dedicated segment focused on aesthetic medicine, device-based cosmetology, and anti-ageing solutions. This section of the exhibition will present advanced technologies for clinics and industry professionals, including injectable treatments, as well as next-generation laser and energy-based technologies.

Traditionally, the exhibition will feature a comprehensive business programme, including specialised seminars, expert-led sessions, and professional discussions.

Dedicated programme segments will address key developments in aesthetic medicine, balneology, and SPA industry, including scientific approaches in aesthetic medicine (CYTOLIFE / MedTenderGroup, Russia), as well as advanced solutions in balneological equipment and hydrotherapy technologies (Physiotechnika, Russia).

A specialised session on fragrance solutions presented by the Swiss Company LUZI may be of particular interest to industry professional and household chemical manufacturers.

Beauty Uzbekistan 2026 is more than just an exhibition — it is a dynamic professional platform where business, medicine, technology, and the latest beauty trends converge. 

The event is organised by Iteca Exhibitions, an international exhibition company, in partnership with ICA Eurasia Group, informed that one can register to visit the exhibition on the website: www.beautypro.uz.

IA “Dunyo”

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(Dunyo IA)