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Surkhandarya the cradle of ancient civilizations
📅 26.06.2025
5 reasons to visit Surkhandarya:
- Explore mountain and ecotourism in the region
- Explore monuments of the distant past
- Learn About Religious Monuments
and cult complex of Sultan Saodat, the Buddhist cult center of Karatepa, the Buddhist temple complex of Fayaztepa, the Jarkurgan minaret, and the Buddhist stupa of Zurmala are the oldest religious monuments of the Surkhandarya region.
- Immerse yourself in the cultural heritage of the region
The folklore festival “Boysun Bahori” (“Boysun Spring”) is held here annually, which reflects the unique rituals, traditions and special culture of the people.
- Taste the national cuisine of the region
Here meat is included in almost all dishes. One of the most delicious dishes of this region is Tandoor Gusht.
Also popular is the dish Chuponcha - shepherd's meat, which is prepared from fresh dairy lamb.
The history of the Surkhandarya region has ancient roots dating back to the beginning of great civilizations. This unique place in Uzbekistan is known for its historical monuments and beautiful nature. The region is located in the foothills of Hissar, Bobotaga, Cohitang, which are famous for their beautiful
landscapes and unique natural formations. The rich reserves of mineral water found in the region are an important source of recreation and have healing properties. A trip to Surkhandarya, will be a fascinating experience, during which you can get acquainted with the unusual landscapes of Uzbekistan, see colorful architecture, and immerse yourself in the unique culture of this region.
Canyon Kyzyl
The Canyon Kyzyl, is located in the Surkhandarya region near the village of Baysun and is translated as “Red Canyon”. The length is 30 kilometers, and the highest point is Mount Buritakht, 1218 meters high. Here, nature has created breathtaking labyrinths, stretching for several tens of kilometers, and every turn of the relief, reveals amazing landscapes. In the spring season, the appearance of the canyon differs from the usual harsh stone appearance, since the surface is completely covered with different vegetation, among which rare medicinal herbs can be found. This place is truly amazing and deserves the status of one of the wonders of Uzbekistan.
Cave Boy-Bulok
In the Chul-Bair Mountain range, located in the Surkhandarya region, there is an amazing cave, called Boy-Bulok. It is considered the deepest in the entire Asian continent and reaches a depth of an impressive 1415 meters. Boy-Bulok is located 60 kilometers from the regional center of Baysun, and is a technically complex facility classified as the fifth complexity category.
In 1985, the first study of this unique place was carried out. Various obstacles were found inside the cave, including vertical bends, narrow vertical shafts up to 180 meters deep, and water-filled passages called half-siphons and siphons. Boy-Bulok has an impressive size that extends both down to a depth of minus 1158 meters, where the impenetrable siphon is located, and up to 359 meters. The very impressive amplitude – is 1517 meters.
Boy-Bulok, located at a depth of 1283 meters, is connected with Vishnevsky Cave. These two caves have a potential connection that is 2033 meters deep and extends for about 30 kilometers. This makes Boy-Bulok the third deepest cave in the world.
Massif Khoja Gur Gur ota
In translation, Khoja Gur Gur ota means “Father of all caves”. At an altitude of 3700 meters above sea level, there is a remote region of harsh and very wild nature. The gigantic, sloping peak of the mountain range ends with an impressive 500-meter-high cliff on one side, and deep canyons with cracks tearing the plateau on the other. Here can be seen fossilized traces of dinosaurs, fragments of basalt and crushed stone of the most bizarre shapes, as well as the burial place of the holy righteous man Khumajoy-ota. The slope of Khoja Gur Gur ota extends vertically and has entrances to many caves, many of which have not yet been explored. In addition, upon reaching the highest point of the massif, you will feel like you are standing on a huge wall separating one world from another.
Machay Cave
Machay Cave is another settlement of primitive people, which is located in the Baysun district of the Surkhandarya region. It is located near Mount Cohitang, on the right bank of the Machay River. The cave is 3.4 to 4 meters high, about 8 meters long and about 10 meters wide. It consists of two cultural layers: the upper layer belongs to the Mesolithic, and the lower layer belongs to the late Mesolithic and early Neolithic. Inside the cave, bones of a man and a woman were discovered that date back to the Mesolithic period. It is of great interest to the scientific community is the availability of material evidence of how people lived in the Stone Age. As a result of research, an abundance of artifacts was discovered in Machay Cave, which indicates the way of life of those times. The finds included 87 different stones, hundreds of weapons made from the bones of 15 different animal species, as well as stone knives, axes, handles, sawtooth weapons, arrowheads, bows and spears. The inhabitants of Machay Cave used these various weapons to skin domestic and wild animals and then use them to make clothing for themselves. These findings are of great value to the scientific community, as they allow us to better understand the lifestyle of people of that time. Surkhandarya – the cradle of ancient civilizations.
Sangardak Waterfall
The Sangardak Waterfall is located among the gorges of the Surkhandarya Mountains, being one of the wonders of the country's natural world. The waterfall is situated in the Sariasi region, 205 kilometers from Termez and 30 kilometers from Denau. Sangardak Waterfall is formed from karst waters flowing inside caves, rather than from a mountain river. As a result, people have created various legends about the waterfall and believe that it has healing properties. Moreover, it is worth noting that even ancient Arabs, Greeks, rulers of Transoxiana, and other peoples came to admire the waterfall.
The Teshik-Tash Cave
The Teshik-Tash Cave is located on the slopes of the Baysuntau mountains. In 1938, during excavations, archaeologists discovered an ancient burial there. Scientists discovered five cultural layers 1.5 meters thick. Clay layers and crushed stones separated the layers. The remains of a Neanderthal child are the most famous finding in the cave, which became famous throughout the world and made the site well-known. Soviet archaeologist A.P. Okladnikov, who discovered these remains, subsequently received the Stalin Prize.
Zarautsay Gorge
The gorge is located in the Kugitang mountains in the Surkhandarya region. These are the southwestern spurs of the Hissar ridge. The discovered cave paintings are rare examples of primitive art. All rock paintings in Zarautsay are written in red ocher, unlike other petroglyphs in Uzbekistan. Impressive hunting scenes with running bulls, goitered gazelles, saigas, arrows, chasing dogs and people with bows and axes, as well as mysterious hooded figures who clearly carry out rituals associated with hunting, can arouse interest and surprise among viewers of this unique ancient art person. Of the 200 images found in 1940, only 40 have now survived in the Zarautsay grottoes.
Dinosaur tracks
Traces of hoofed dinosaurs were discovered in the limestones of the Cretaceous period in the village of Gumatak. The footprints are on a stone slab, which is easily accessible from a car after walking only 300 meters.
Speleologists have also discovered traces of other large dinosaurs in Surkhandarya, but to see them you will need to make a separate trip.
Karyshoto Gorges
In the Surkhandarya region, there is another unusual place, the Karyshoto Gorges. The gorges have karst waterfalls along their walls despite the fact that they are located in hot and dry areas.
As a result, you feel as if you have entered a picturesque oasis. The gorge in several places prevents passage due to the rather high waterfalls. However, when you overcome them, you can see how the gorge continues in two directions.
Canyon Kaptarhona
Several thousand doves have been nesting in this canyon for a long time, which is why this place received the name Kaptarhona, which is translated from Uzbek as “dovecote”.
Once upon a time, the canyon was completely deserted, and its only inhabitants were doves, which were so numerous that one could safely call this place the kingdom of these birds.
Kaptarhona is a winding road along a narrow gorge. Various boulders are scattered along the path. Many attractive and exciting turns hide amazing views.
Khojaikon Salt Cave
In 1989, the Khojaikon Salt Cave was opened, which since then, thanks to the concentration of salt and light negative air ions in the air, has helped people cope with various ailments, such as asthma, respiratory diseases, chronic bronchitis, complications of pneumonia, as well as various skin problems.
The cave is 155 meters long and is a salt monolith inside of which there are treatment room chambers, each of which differs in temperature, humidity, pressure and trace element content. The healing procedure takes only 2-2.5 hours a day.
Meteor Lake Kanbeshbulak
Lake Kanbeshbulak is located in the Khaman tract in the west of Surkhandarya region. The lake is an exceptional natural monument.
According to scientists, this lake was formed as a result of a meteorite fall. In their opinion, it was a meteorite crater that filled with water and became known as Kanbeshbulak. The explosive red sandstones that make up the slopes of the lake indicate the origin of the bowl.
Panjob Gorge
The Panjob Gorge is located in the foothills of the Kugitang Tau ridge in the Surkhandarya region of Uzbekistan, 125 km northwest of Termez. This is a very beautiful gorge in which the small river Gazak, in the Karyshoto mountain range, cuts its way through limestone, gypsum and rock salt, creating a powerful picturesque canyon with vertical cliffs more than 200 meters high.
In some places the width of the gorges can be no more than two meters. In the narrow passages of the gorge, the most beautiful place is a 30-meter section on the right side of the canyon. In this place, water is knocked out of a rock covered with bright green moss, either as a curtain of water or in separate streams, forming a multiple rainbow under the sun's rays.
Surkhan State Reserve
The Surkhan State Nature Reserve is located in the Surkhandarya region of Uzbekistan, just 60 kilometers from the city of Termez. The reserve was created in 1986 by combining the Kugitang and Aral-Paigambar reserves. The purpose of its creation was the preservation and restoration of rare species of plants and animals.
The reserve consists of two separate parts, located in the Sherabad and Termez districts of the Surkhandarya region. The reserve occupies 24,554 hectares and is located in the southwestern spurs of the Hissar ridge at an altitude of up to 3,157 meters above sea level. The Surkhan Reserve currently has more than 130 species of birds, as well as more than 25 species of mammals, 27 species of reptiles, and 2 species of amphibians and fish.
Kampyrtepa Fortress
Kampyrtepa is an ancient archaeological site on the territory of Uzbekistan, which is an ancient port city located on the banks of the Amu Darya River (formerly known as the Oxus). It was founded at the end of the 4th century BC and existed until the beginning of the 1st century AD. The main purpose of this settlement was to serve the crossing of the Burdaguy River, as well as to serve as a hotel and customs office. Kampyrtepa served as a transit point for traders traveling along the Silk Road, where they could rest, reload their goods, pray and continue their journey.
After decades of excavations and studying written sources, it was decided that the site of Kampyrtepa is the mysterious Alexandria Oxiana, a port city that Alexander the Great built on the Amu Darya.
Topalang Reservoir
Uzbekistan is famous for the presence of two significant rivers - the Amudarya and the Syr Darya, which flow through its territory and flow into neighboring countries. The Hissar mountain ranges serve as a source for the Topalang River, which originates on the southern slope. It should be noted that the most abundant right tributary of the Surkhandarya has a length of 117 kilometers. The main source of water replenishment in the Topalang River is seasonal snow and glacial water. It is thanks to this that the river supplies water to the Denaus, Shurchin and Kumkurgan districts of the Surkhandarya region.
Hospital “Khojaipok”
Khojaipok Hospital specializes in the treatment of various diseases, including gynecological problems, cardiovascular disorders, general therapy and neurological disorders. To achieve a positive result, various methods are used, such as hydrotherapy (including mineral baths and circular showers), heat therapy, mud therapy, physiotherapy, electrotherapy and ozone therapy.
Upon completion of the procedures, visitors can visit the natural beauty, swim in the resort's pool, play tennis or engage in other outdoor activities in the sports club.
Sanatorium “Omonkhona”
The Omonkhona Balneological Sanatorium, located in the mountains near the city of Baysun, and the Khojaipok Hospital, located at the foot of Mount Kenagi, are the most famous health complexes in the Surkhandarya region.
The thermal water in the Omonkhona sanatorium has healing properties and is part of the health programs of the sanatorium. Using magnetic therapy, laser therapy, acupuncture, water procedures, massages, liver cirrhosis, hepatitis and other diseases are treated.
Hissar Mountains
The Hissar Mountains are a mountain range that stretches 200 kilometers from east to west across the Hissar region of Tajikistan. It is the western part of the Pamir-Alai system. The highest point in Uzbekistan, Khazret-Sultan, is 4643 meters, located on the border of Uzbekistan and Tajikistan. The ridge is a place of unique geological outcrops in Eurasia. The structure consists of sandstones and crystalline rocks interspersed with granite intrusions. In addition, all ecosystems and climates of the Pamir-Alai are represented here. At the highest places there are glaciers and rocky wastelands. A famous natural attraction of the Hissar Ridge, located in the southern part of the mountains, is the cave of Amir Temur. This natural formation, stretching for 860 meters, is considered the largest underground lake in Uzbekistan. It is important to note that the cave was inhabited back in the Greco-Bactrian period (IV-III centuries BC).
Archaeological Museum of Termez
To celebrate the 2500th anniversary of the city of Termez in 2002, the Termez Archaeological Museum was built and opened. Today it is the only archaeological museum in Central Asia, and many of its unique exhibits date back more than 100 thousand years BC. These include 624 museum relics of global significance, displayed using the latest information and communication technologies.
Karatepa Complex
Located in the northwestern part of old Termez, Karatepa is a place of worship associated with Buddhism. On the three hills of this place there are various temples and monasteries that were built in the 2nd century AD. The architecture of Karatepa is remarkable for its unique combination of caves carved into sandstone and buildings made of pakhsa and adobe.
Zurmala Stupa
Northeast of the ruins of the ancient settlement of Termez is Zurmala, a 12-meter-tall Buddhist stupa. It was built during the Kushan period, around the 1st and 2nd centuries AD, while Buddhism was spreading in Central Asia. The modern city of Termez is located 10 kilometers west of the ancient settlement of Termez. On its outskirts one can see the remains of entire complexes of ancient Buddhist buildings, which in the Middle Ages covered agricultural fields. Over time, the Buddhist stupa turned into a clay mound, which was difficult to recognize as a ritual structure.
Mausoleum of Al-Hakim At-Tirmizi
Al-Hakim At-Tirmizi is a sacred place of worship for Muslims and an architectural monument. The mausoleum is one of the holy places of the Surkhandarya regional center. The architectural monument is located approximately 60 kilometers from the current center, northwest of old Termez. Abu Abdulloh ibn Hassan ibn Bashir Al-Hakim At-Tirmizi is an outstanding Islamic figure, author of various philosophical and religious works and founder of the order of Dervishes. About 80 works were written by the eminent At-Tirmizi who received the name Al-Hakim, which means the wise one, due to his deep knowledge and broad vision.
Mausoleum of Ak-Astana-baba
In the village of Telpek-Chinar, Sariasi district, Surkhandarya region, there is the Mausoleum of Ak-Astana-baba. Scientists believe that the mausoleum was built on the grave of the companion of the Prophet Muhammad (SAW), Saint Abu Hurair. The mausoleum has four rooms called “Chorsi Khona,” in which bricks are laid in batches, and the north-eastern part of the complex can be accessed through the roof. At the entrance to the mausoleum, there are two complex signs, about half a meter in diameter. It is still not possible to correctly interpret the semantics of these signs.
Kirk Kiz Fortress
One of the most interesting ancient places is the Kirk Kiz Fortress. Although the fortress is almost completely destroyed at present, even the ruins allow us to see the former size of the structure and marvel at the skill of the ancient architects. The symmetry of Kirk Kiz makes it unique; each archway and corridor have a counterpart located on the opposite side.
Two passages cross the building crosswise and divide it into four equal parts. There are versions that it was a country aristocratic palace, a women's madrasah, a khanaka, or a caravanserai.
Dzharkurgan Minaret
The minaret is located 5 kilometers from the city of Jarkurgan and 40 kilometers from Termez, near the village of Minor. Thanks to the deciphered inscription on the building, it was established that this architectural monument dates back to the 12th century. The inscription states that construction took place from 1108 to 1109 AD, but some scholars believe the date reads differently and construction was completed in 1110.
This building is unique with its decorative elements. At that time, mosaics were often used to decorate minarets; in the case of this minaret, we see vertical decorative corrugations that were made using a specially baked brick masonry, which was cut in a herringbone pattern from top to bottom.
Dalverzintepe Settlement
Dalverzintepe, the main city of the powerful Kushan Empire, has so far been the subject of careful study by many historians and archaeologists. With its secrets and many valuable objects found, the site attracts attention. The largest treasure in history was found here; about 36 kilograms of gold were discovered in this place in 1972.
Archaeological excavations have revealed a lot of new things about the architecture, culture and fortifications of Northern Bactria. Finds such as sculptures, paintings and figurines show the high level of culture of the people of the Kushan Era. According to many researchers, Dalverzintepe is considered the most ancient Buddhist building.
Ensemble Sultan-Saodat
On the outskirts of the city of Termez in the center of the Surkhandarya region of Uzbekistan there is the architectural ensemble of Sultan-Saodat. The memorial complex consists of tombs of the Termez Seyyids, who were considered direct descendants of the Prophet Muhammad. The complex contains various memorial and religious buildings built from the 11th to the 17th centuries. All buildings have a common architectural concept despite the fact that they were built at different times.
Hanaka Kukildor-ota
Khanaka Kukildor-ota in Termez is a holy monastery that has become one of the most revered among Muslims. Khanaka Kukildor-ota was built in the mid-1100s. It stands out among other monasteries due to its unique architecture, history and significance in the Muslim world.
The building contains numerous tombstones, as well as the burial place of the Muslim Saint Kukildor-ota. This prominent religious figure was known for his great righteousness. The monastery was built in memory of him.
After the restoration of the Khanaka, Kukildor-ota acquired a unique appearance, which is characteristic of all architectural monuments of the Timurid era.
Fayaztepa Complex
Fayaztepa is located at a distance of 4 kilometers from modern Termez, Surkhandarya region. The monastery complex consists of 13 rooms and an inner courtyard with an ivan where a refectory was attached to the monastery on the left side. In some places of the complex there are cooking fires, as well as skulls with inscriptions in Bactrian and other ancient languages. Coins of Heliocles (the Greco-Bactrian king) and Kanishki (the ruler of the Kushan Empire) were also found there. According to archaeological excavations, monks used to live in the monastery, and they also provided housing for pilgrims.
In the IV century, Fayaztepa was captured by the Sassanid army (the dynasty of Persian rulers), due to which the complex stopped functioning. Previously, the complex was called Khaya-Vihara, which translates as "the monastery of horsemen". The current name of the complex was given in honor of the director of the Surkhandarya Museum of Local Lore R.F. Fayazov, who participated in the excavations of the Buddha complex.
Neighborhoods of Derbent
The Derbent mountain village is located on an important trade route along the Sherabad River, connecting the southern regions of modern Uzbekistan, Northern Afghanistan and Tajikistan with the central cities of Samarkand, Bukhara and Tashkent, which were known at the time as Shash. The land around Derbent looks heavily damaged — high rocks either form a majestic gate, or almost merge overhead, reminding us of the bloodshed here while defending the borders of different empires.
Also, travelers can expect places that surprise with their power, strength and pristine beauty. Here you will find gorges including the famous Iron Gate, which was besieged by Alexander the Great.
The Church of Alexander Nevsky
In 1901, a temple was erected in the city of Termez in honor of the Holy Prince Alexander Nevsky. Currently, the temple is in excellent condition. The sanctuary is impressive in its scale: the bell tower and iconostasis occupy a significant space. Inside the temple there is a room measuring 24 by 16 meters. In addition, the temple is rich in icons and church objects.
Kurganzol Fortress
The Kurganzol Fortress is an impregnable structure built in 328 BC by Alexander the Great, located on a cliff near Baysun at an altitude of 900 meters. Archaeological excavations of Kurganzol began in 2003 and revealed that it belongs to the Hellenistic era. The fortress dates back to the 4th century BC and is believed to have housed about fifty soldiers, with six towers protecting the entrance. Construction took a long time to complete, as nomadic tribes frequently attacked and destroyed parts of the building during those years.
Inside the fortress, parts of residential and utility rooms, a water pool with a drain to prevent overflow, and defensive structures were discovered. Built of mud bricks, the fortress has an outstanding appearance, with walls averaging more than 2.5 meters thick.
Uzundara Fortress
Uzundara, the oldest fortress dating back to the 3rd–4th centuries BC, is located in the foothills of Baysun. The fortress featured powerful defensive structures, including double walls reinforced with 13 towers, and outer walls stretching nearly 1 kilometer in length. The fortress walls, lined with clay bricks, have almost retained their original appearance and rise up to 5 meters high.
Among the main finds discovered during the expedition are unique coins from the Hellenistic period depicting Alexander the Great, Antiochus I (king of the Seleucid state), and all rulers of the Greco-Bactrian kingdom from Diodotus to Heliocles. The fortress existed for about 150 years before being destroyed by the nomadic tribes of the Saks and Yuejs during the reign of one of the last Greco-Bactrian kings between 171 and 166 BC
Uzbekistan and the United States: Evolution of Bilateral Relations and Trajectories for Further Convergence
📅 06.11.2025
In recent years, relations between Uzbekistan and the United States of America have gained a new impetus. Moving beyond formal diplomacy, the partnership has evolved into a deeper, multi-dimensional engagement. Today, political dialogue is active, economic and business ties are expanding, and humanitarian and people-to-people connections are steadily strengthening.
Until 2017, Uzbek-American cooperation was primarily focused on regional security issues and the situation in Afghanistan, while noticeable progress in the economy and investment was virtually absent. However, following the election of Shavkat Mirziyoyev and his visit to Washington in 2018, cooperation began to acquire a strategic character.
This marked the first visit by Uzbek leader to the United States in 16 years and signaled a new level of mutual trust. During the visit, agreements and memoranda totaling over $4.8 billion were signed, paving the way for projects involving major U.S. companies.
These positive trends have largely been driven by Uzbekistan’s domestic reforms and its pragmatic approach to regional and foreign policy. Consequently, diplomatic engagement has intensified: regular consultations at the level of foreign ministries have fostered systematic and structured cooperation.
Since the 2020s, relations have evolved into a multi-layered structure. In 2021, the format of political consultations was transformed into the “Strategic Partnership Dialogue between Uzbekistan and the United States,” encompassing the economy, security, and environmental issues. The first meeting of this new format took place in Tashkent and laid the foundation for comprehensive cooperation.
In 2024, bilateral relations reached a qualitatively new level with the official establishment of an expanded strategic partnership. This format is based on the alignment of key priorities: Uzbekistan seeks deep economic modernization, attraction of foreign investment, integration into global markets, and the formation of a competitive economy. The United States supports these efforts, affirming its commitment to the reform process and encouraging American business participation in the new opportunities emerging in Uzbekistan.
In this context, the meeting between Shavkat Mirziyoyev and Donald Trump in September of this year on the sidelines of the UN General Assembly outlined specific priorities for bilateral cooperation and established the foundation for long-term collaboration. More than ten agreements were signed with major companies, including Boeing, Cargill, and Citigroup and others.
Following this, in October 2024, a U.S. delegation led by President Biden’s Special Envoy for South and Central Asia, Sergio Gor, and Deputy Secretary of State Christopher Landau visited Tashkent. The visit reinforced mutual trust and underscored both sides’ commitment to advancing joint initiatives in key areas of the bilateral agenda.
Undoubtedly, the U.S. contribution to Uzbekistan’s economy maintains a steady dynamic: in 2024, trade turnover increased by 15%, reaching $881.7 million. The portfolio of investment projects exceeds $11 billion. These figures illustrate a steady expansion of trade and economic cooperation, even as overall volumes remain relatively modest.
At the same time, the contemporary economic agenda, however, extends beyond traditional trade. Joint industrial and investment projects, collaboration in logistics, civil aviation, agro-industrial complex, and metallurgy, as well as the implementation of digital and innovative solutions in supply chain management, are coming to the forefront.
Structural changes in Uzbekistan’s export profile are particularly noteworthy. Services now constitute 86% of the country’s main export portfolio. The United States remains the largest market for Uzbek IT services: of 800 active exporters, 448 provide digital services to the U.S., representing 45% out of total IT exports. This underscores the U.S.’s role as a strategic partner in Uzbekistan’s technology sector.
To increase the export of Uzbek goods to the U.S., the President instructed the regions of the country to establish direct connections with individual states. For instance, in August of this year, a task was set to increase textile exports to the U.S. five to sixfold. Within this initiative, the Andijan Region Textile Trade House opened a representative office in St. Louis, one of the country’s key logistics hubs.
The American company Oppenheimer plans to participate in the financing of three major projects in the Andijan Region with a total value of $1.2 billion, including the creation of a textile industrial zone worth $180 million.
Uzbekistan has again attracted U.S. attention due to the presence of critically important minerals and rare earth elements used in batteries, semiconductors, and modern defense systems. In April 2025, the countries signed an agreement on cooperation in the extraction of such resources, and in September, the American investor Cove Capital began geological exploration work.
Significant progress is also observed in the humanitarian sphere: the number of academic exchanges and educational programs is increasing, and the interest of Uzbek youth in American education has noticeably grown. Currently, 40 Uzbek universities implement partnership projects with more than 25 American universities and educational institutions. Cooperation includes academic exchange of faculty and students, joint research, and the engagement of American specialists in the educational process.
These initiatives reflect Uzbekistan’s aspiration for greater openness and integration into the international community, creating conditions for expanding contacts in tourism and cultural spheres.
In this context, starting January 1, 2026, Uzbekistan will introduce a 30-day visa-free regime for U.S. citizens. Previously, such a regime only applied to tourists over 55 years old. The new rules significantly facilitate U.S. citizens’ access to the country, promoting tourism, business travel, and cultural exchanges, as well as opening additional opportunities for establishing direct contacts between individuals and organizations in both countries.
A central element of multilateral interaction remains the regional C5+1 format, which unites the U.S. and the five Central Asian countries. The U.S. National Security Strategy indicates the intention to intensify work within this platform to promote initiatives on climate change mitigation, energy and food security, development of transport connectivity, and expansion of Central Asian countries’ access to global markets.
To sum up, the evolution of Uzbekistan-U.S. relations demonstrates how pragmatism and reform-driven policies can overcome barriers and create mutual benefits. Today, bilateral relations are comprehensive and resilient: Uzbekistan has emerged as a significant partner, recognized in Washington as a key contributor to regional stability. The trajectory of cooperation points toward constructive partnership, with Central Asia serving not as periphery, but as a bridge for sustainable development and mutually beneficial collaboration.
Shakhnoza Kodirova
Head of the Department the
the Institute for Strategic and Regional Studies
under the President of the Republic of Uzbekistan
Uzbekistan sees the Organisation of Turkic States as a Platform for new economic opportunities
📅 23.10.2026
Uzbekistan views its participation in the Organization of Turkic States (OTS) as an opportunity to give a new industrial dimension to trade relations. The focus is on production chains in which enterprises from different countries participate in the manufacturing of finished products and bring them to international markets. This is one of the key objectives of the “Space of New Economic Opportunities” initiative put forward by President of the Republic of Uzbekistan Shavkat Mirziyoyev.
The OTS brings together Uzbekistan, Azerbaijan, Kazakhstan, Kyrgyzstan and Türkiye. Turkmenistan and Hungary also participate as observer states. This geographical scope connects Central Asia with the South Caucasus, Türkiye and western trade routes. For Uzbekistan, the value of the multilateral format lies in the opportunity to coordinate trade and transport conditions with countries whose decisions influence the development of production links between enterprises.
Uzbekistan’s trade turnover with the other OTS member states, as well as Turkmenistan and Hungary, increased from $4.13 billion in 2017 to $10.82 billion in 2025. In January–July 2026, trade turnover grew by 19.8 percent compared with the same period of the previous year. The presence of partner countries in Uzbekistan’s economy is also expanding. As of early August, 4,871 enterprises with their capital participation were operating in the country.
With trade ties reaching such a scale, the structure of trade is becoming increasingly important. In the first seven months of 2026, Uzbekistan’s exports to these countries amounted to $2.29 billion, while imports reached $4.46 billion. Strengthening export positions requires expanding the production of goods with a higher degree of processing. Industrial cooperation enables Uzbek enterprises to respond to demand in partner markets and expand beyond the OTS region.
This objective has gradually become central to Uzbekistan’s agenda within the OTS. Following Shavkat Mirziyoyev’s participation in the summit of Turkic states in 2018, Uzbekistan became a full member of the then Turkic Council in 2019. In 2022, Uzbekistan hosted the OTS summit in Samarkand and assumed the chairmanship of the Organization. At the summit, the President proposed creating value-added production chains and entering third-country markets with finished products. At the 2024 summit in Bishkek, he put forward an initiative to conclude a strategic partnership agreement that could strengthen the political foundation for long-term projects.
In 2025, Uzbekistan proposed instruments to develop direct business-to-business ties. At the meeting in Budapest, the President called for the creation of the “TURK-TRADE” platform, the development of an industrial cooperation programme, and the establishment of a unified investment portal. These proposals cover successive stages of business cooperation: finding partners, presenting investment opportunities and preparing production projects. Direct contacts were also strengthened at the Trade Forum of the Turkic States in Baku, where Uzbek producers concluded agreements on the supply of finished knitwear and construction materials.
Alongside these proposals, practical decisions have also been adopted. In February 2026, the ministers responsible for economy and trade of the OTS member states signed a memorandum on partnership in trade and approved a roadmap for cooperation in the areas of economy, trade, investment and finance. The Turkic Investment Fund also began its operations that year. The establishment of a Council for Economic Partnership remains subject to further agreement among the participating states.
Bilateral investment ties with partner countries already provide a foundation for developing production facilities. In 2025, investments from Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye, Turkmenistan and Hungary amounted to $4.29 billion. In 2026, work is underway on 280 projects with a total value of $17.24 billion. Between January and August, $3.84 billion had been actually invested within these projects. The future impact of these investments will depend on the commissioning of new capacities and the resulting production volumes.
One example of bilateral cooperation is located in Kashkadarya Region. There, the first stage of a project by the Azerbaijani company Matanat to produce gypsum products has been completed, while the second stage — the development of gypsum board production capacity — has begun. In this way, partner investment is being channelled into processing and manufacturing activities within Uzbekistan.
The transport sector already offers an example of a result achieved at the level of the Organization as a whole. The E-permit electronic permit system began as a joint project between Uzbekistan and Türkiye and now operates between Uzbekistan and all OTS member states. This experience demonstrates how a solution initially agreed upon by two countries can develop into a common procedure. Further progress in transport connectivity is linked to the coordination of tariffs, digital customs procedures and the operation of logistics hubs. Uzbekistan advocates connecting the Middle Corridor with the China–Kyrgyzstan–Uzbekistan railway currently under construction and the prospective Trans-Afghan route.
Alongside transport connectivity, the digital agenda is also developing. At the 2026 summit in Turkistan, the President of Uzbekistan proposed developing a “Digital Turkic Corridor” that would connect regional data centres through high-speed communication networks. He also invited partners to participate in a venture capital fund being established jointly with Kazakhstan. These initiatives focus on the next potential source of economic growth: technologies, innovation and entrepreneurship capable of operating across multiple markets.
For Uzbekistan, the next stage of cooperation within the OTS will be determined by the quality of economic growth. Trade turnover and investment ties provide scale to industrial cooperation. Its strategic impact will depend on the role Uzbek enterprises play in creating finished products and on how widely the markets for those products can expand. Uzbekistan’s initiatives in industry, investment, transport and technology are aimed precisely at addressing this objective.
The development of Uzbek-Azerbaijani cooperation
📅 02.07.2025
Cooperation with colleagues from Azerbaijan is underway in this direction.
1. In the current geopolitical situation, there is a tendency of transition from traditional transportation routes to alternative, more reliable, involving the use of different modes of transport, which contributes to the growing attractiveness of multimodal transportation.
2. Uzbekistan's cooperation with Azerbaijan is strengthened
X TASHKENT INTERNATIONAL BIENNALE OF CONTEMPORARY ART
📅 08.07.2024
ART
The Tashkent International Biennale of Contemporary Art has been held every two years since 2001 with government support. It serves as an open platform for cultural exchange in the visual arts, showcasing the modern creative potential of different countries and discussing current issues in contemporary art.
The theme of the X Tashkent International Biennale of Contemporary Art in 2024 is "Art and World". Conceptually, it explores the relationship between art and modern reality through the works of artists from various countries. This theme prompts reflection on the nature of the modern world: Does it possess integrity? Today, the world is characterized by polar stances, clashes, and numerous challenges related to preservation, ecology, morality, culture, and identity, spanning personal to state levels. Its landscape is shaped by opposition influenced by globalization, geopolitics, technogenic civilization, and artificial intelligence. How does contemporary art reflect on the modern world?
Simultaneously, the X Tashkent International Biennale aims to showcase various trends and new directions in contemporary art to the general public. It seeks to enhance international cultural relations, strengthen the creative dialogue between cultures, and highlight the achievements of different countries in visual art. The Biennale focuses on liberating creative consciousness, demonstrating pluralism in creative exploration, and illustrating the specifics of the postmodern condition in different countries. It addresses the state of intertextuality in modern art and the preservation or disappearance of local traditions in the era of globalization.
The concept of the Biennale is dedicated to displaying a multicultural lifestyle through the prism of contemporary art. The works presented will reflect diverse artistic expressions that uphold humanistic values. The theme provides an opportunity to explore concepts such as ecology, culture, tolerance, modern orientalism, identity, artificial intelligence, technogenic civilization, and the inner world of individuals.
FOR MORE DETAILS: biennale.uzbekistan@gmail.com, +998-71-233-04-27
Curator of the X Tashkent International Biennale of Contemporary Art:
Sukhrob Kurbanov - Art Critic and Art Historian.
Coordinator of the event:
Asya Tuychiyeva - Head of the Department for International Relations, Academy of Arts of Uzbekistan.
The principle of “New Uzbekistan - a social state” implies comprehensive support for the population
📅 29.07.2024
Social policy in our country contains a wide range of issues on poverty alleviation, job creation, and support for socially vulnerable groups of the population. Investments in human capital are both a contribution to the social and economic sectors of the country's development. Moreover, according to a study by the Institute of Macroeconomic and Regional Studies under the Cabinet of Ministers of Uzbekistan, improving the quality of human capital leads to an increase in the inflow of foreign direct investment by 0.51 percent.
Article 1 of the Constitution of the Republic of Uzbekistan in the new wording, adopted following the results of the national referendum, once again confirmed the commitment and orientation of the state to care for its citizens from the first days of their birth, regardless of their social status. It should be noted that the state did not come to this principle immediately, as the domestic social policy was formed step by step, i.e. in the process of long negotiations, permanent compromises and economic opportunities.
The enshrinement in the Constitution of the statement that Uzbekistan is a sovereign, democratic, law-based, social and secular State increases its social obligations.
It should be noted that a social state in the general sense guarantees quality education, qualified medical care, comprehensive support for families, children, women, the elderly and persons with disabilities, provides housing and employment for those in need, creates safe working conditions and reduces poverty.
All of the above-mentioned state guarantees began to be reflected in the last decade of our country, which entered the world history as New Uzbekistan.
First, the Strategy of Action on Five Priority Areas of Development of the Republic of Uzbekistan in 2017-2021 and the Strategy for the Development of New Uzbekistan for 2022-2026 identify as priority tasks: building a humane state by elevating human honor and dignity and further developing a free civil society; turning the principles of justice and the rule of law into a fundamental and necessary condition for the country's development; accelerating the development of the national economy and ensuring high growth rates; carrying out the development of the country's economy; and ensuring the development of the national economy.
Secondly, the Ministry of Employment and Poverty Reduction has been established, the Ishga Markhamat monocenters have been launched, the “iron” “women's” and “youth” notebook systems have been set up, one hundred percent pensions are paid to working pensioners, the Social Protection Strategy of the Republic of Uzbekistan has been approved, and the problem of poverty in the country has been recognized. Moreover, the post of assistant khokims has been introduced, who are responsible for poverty reduction, developing entrepreneurship, organizing jobs and increasing the incomes of citizens. Most importantly, a new system of caring for the population has been created.
President Shavkat Mirziyoyev chaired a video conference call on May 15, 2023 to discuss measures to reduce poverty and provide employment. Following the recognition of the existence of poverty in the country, a system to reduce it was introduced. At the beginning of last year, all districts in Uzbekistan were divided into five categories and given differentiated benefits based on the pace of socio-economic development. As a result, one million people have been lifted out of poverty.
Thirdly, education and medicine are the most important and comprehensive social spheres. In order to accelerate reforms and improve efficiency in these sectors, relevant project offices have been established.
Undoubtedly, investment in human capital is the best contribution to the future. In this regard, unprecedented reforms have been carried out in the area of continuous improvement of the system of continuous quality education and training of qualified personnel. As a result, preschool education coverage has increased from 27 to 74 percent, 11-year compulsory schooling has been resumed, the workload of school teachers has been optimized, and forced labor has been abolished.
Changes in the higher education system in recent years have also shown significant positive results. As a result, enrollment in higher education has increased from nine to 42 per cent, and the number of higher education institutions has grown from 77 to 212.
Our country pays great attention to the medical sphere, which directly affects the quality of life. Over the past seven years, the financing of the health care system has increased from 5.9 trillion to 33.5 trillion soums, i.e. six times. Hospitals are being equipped with modern equipment and new facilities are being built. In order to bring medicine closer to the people, on-site screening examinations are being conducted.
It should be noted that Uzbekistan is working on targeted support for socially vulnerable segments of the population. This is evidenced by the addition of a new wording to article 57 of the Constitution on State measures aimed at improving the quality of life of socially vulnerable categories, creating conditions for their equal participation in public and State life with other citizens, and expanding their opportunities to independently provide for their basic living needs.
One of the main innovations is article 42 of the Basic Law, which states that the minimum wage shall be determined taking into account the need to ensure a decent standard of living. From December 1, 2023, the minimum wage is equal to 1.05 million soums, while the cost of consumer expenditures is set at 568 thousand soums per person per month.
In addition, according to the Presidential Decision “On measures to further improve the system of social services and assistance to the population” of September 28, 2023, a new system of social assistance by the employees of the social service centers “Inson” of the National Agency for Social Protection has been introduced in 28 districts (cities) on a pilot basis since October 15 last year. The employees are responsible for keeping records and register of lonely, elderly and disabled persons in need of care, which helps to develop a plan of individualized social services by taking into account the degree of need for care. At the same time, assistance to the lonely elderly included in the Unified Register of Social Protection is provided on the basis of a contract.
Relations between Uzbekistan and the United States have entered a phase of regular strategic communication
📅 20.02.2026
An expert from the Institute for Strategic and Regional Studies under the President of Uzbekistan, commented to Dunyo IA on the outcomes of President Shavkat Mirziyoyev’s working visit to the United States, which took place from February 17 to 19:
- The visit of the President of Uzbekistan to the United States, which took place as part of his participation in the first meeting of the Board of Peace, was not just another diplomatic event, but a logical continuation of the strategy of pragmatic and mutually beneficial dialogue with Washington built over recent years. It demonstrated a shift from symbolic political interaction to systemic coordination in security, economics, trade, and humanitarian exchanges.
This visit marked the culmination of an intensive partnership over the past six months. Meetings on the sidelines of the UN General Assembly, the C5+1 summit, participation in events in Davos, and the signing of the Charter of the Board of Peace, as well as personal contacts between the two leaders, have fostered a stable dynamic of political dialogue. This fifth summit in six months demonstrates that relations have entered a phase of regular strategic communication, with each meeting reinforced by concrete agreements.
The visit’s busy business program confirmed its practical nature. During his stay in the United States, the head of state held talks with representatives of the American administration, financial institutions, and business circles, including the Export-Import Bank of the United States, the International Development Finance Corporation, the American-Uzbekistan Chamber of Commerce, as well as the heads of major companies such as Traxys, Valmont Industries, Gulf Oil, Aviagen, John Deere, BlackRock Financial Markets Advisory, Oppenheimer, and others. Following the signing of bilateral documents, the parties solidified agreements in priority areas such as the agro-industrial complex, critical minerals, financial market development, improving the investment climate, and the creation of an investment platform.
Discussions with the US Trade Representative and the Secretary of Commerce deserve special attention. During these talks, the need to intensify work within the framework of the Trade and Investment Framework Agreement between the countries of Central Asia and the United States was emphasized. This gave cooperation not only a bilateral but also a regional dimension, strengthening Uzbekistan’s position as a coordinator of economic processes in the region.
Viewed historically, the current stage’s foundation was laid back in 2018 during Shavkat Mirziyoyev’s first official visit to Washington, when agreements worth over $4.8 billion were signed. This package signaled Uzbekistan’s systemic openness to international businesses. In 2021, the Strategic Partnership Dialogue was established, and its subsequent expansion testifies to the institutionalization of bilateral relations. The invitation of the Uzbek leader to the G20 summit in Miami, personally initiated by US President Donald Trump, further confirmed the country’s strengthening international status and recognition of its growing role on the global agenda.
The economic dimension of cooperation is demonstrating steady growth. While trade turnover stood at $408 million in 2018, it consistently exceeded $1 billion by the end of 2024-2025. The current three-year Economic Cooperation Program, worth $35 billion, reflects the long-term nature of the parties' intentions. At the same time, the structure of interaction is undergoing a qualitative change: the emphasis is shifting from trade operations to the implementation of investment and production projects.
Today, flagship American companies such as Air Products, General Electric, General Motors, Boeing, Honeywell, and John Deere are actively operating in Uzbekistan. The $8.7 billion package of agreements signed at the C5+1 summit, including a contract for 22 Boeing aircraft, investments in the critical minerals sector, and projects in the agro-industrial sector, confirms the practical focus of the dialogue.
The transformation of the export structure is particularly revealing: services now account for approximately 86% of Uzbek exports to the US, with the IT sector remaining the key driver. Of the 800 active digital services exporters, 448 target the US market, accounting for 45% of all industry exports. This demonstrates that the partnership is gradually becoming more high-tech, moving beyond traditional commodity-based models.
The humanitarian dimension of cooperation is no less important. Academic exchange is expanding, the number of joint research projects is growing, and the integration of Uzbek specialists into international educational networks is strengthening. Currently, 40 Uzbek universities are implementing partnership programs with more than 25 US universities. Webster University’s Tashkent branch and the American University of Technology, established jointly with Arizona State University, are successfully operating. Thus, a long-term intellectual infrastructure for strategic partnership is being formed.
Overall, the current stage of relations between Uzbekistan and the United States is characterized by a transition from symbolic declarations to systemic coordination on issues of regional security, sustainable development, investment policy, and technological modernization. These achievements confirm that Uzbekistan is steadily establishing itself as a key US partner in Central Asia.
Dunyo IA
THE SCO’S NEW FINANCIAL ARCHITECTURE: FROM COORDINATION TO PRACTICAL DEVELOPMENT MECHANISMS
📅 24.08.2026
At present, geopolitical tensions, the fragmentation of trade and investment flows, disruptions to global supply chains and the high cost of financial resources are creating new challenges for countries across the global economy. Under these conditions, establishing sustainable financial mechanisms for regional cooperation is becoming an important factor not only in promoting economic growth, but also in ensuring long-term stability.
From this perspective, taking financial cooperation within the Shanghai Cooperation Organization to a new level is of particular importance. The SCO region accounts for more than 40 per cent of the world’s population and over a quarter of global gross domestic product. Such vast economic potential provides a solid foundation for developing a modern financial architecture capable of supporting trade, investment and industrial cooperation within the Organization.
The expanding scope of economic cooperation has also increased the importance of its financial support. In this regard, developments observed within the SCO in recent years indicate that the Organization’s distinctive new financial infrastructure is gradually taking shape.
New Economic Realities — New Financial Needs
The expansion of the SCO’s financial infrastructure is primarily driven by the economic changes taking place within the Organization itself.
The first factor is the expanding scale of economic cooperation. Alongside trade and investment, the development of industrial cooperation, energy, digitalization and technological collaboration across the SCO region has increased demand for long-term financial resources.
The second factor is the growing number and scale of cross-border projects. The implementation of transport corridors, power grids, logistics centres and other infrastructure facilities spanning several countries generally requires large-scale, long-term investment.
The third factor is the expansion of the SCO’s membership and the diversity of its economies. The Organization includes both economies with large capital markets and landlocked countries with significant infrastructure investment needs. This has generated demand for multilateral financial mechanisms capable of accommodating the interests of diverse economies.
The fourth factor is the transformation of the global financial environment. Volatility in the cost of international capital, external shocks and currency risks have increased the importance of diversifying regional sources of financing. In this context, expanding settlements in national currencies has also become a distinct area of the SCO’s financial agenda. In 2022, the Samarkand Summit approved a roadmap for gradually increasing the share of national currencies in mutual settlements.
Thus, the need for new financial institutions has emerged not as a stand-alone initiative, but as an objective process resulting from the growing scale of trade, investment and cross-border economic relations within the SCO region.
A New Stage — New Financial Mechanisms
At the SCO Summit held in Astana in 2024, President of the Republic of Uzbekistan Shavkat Mirziyoyev emphasized the importance of promoting mutual investment, primarily in infrastructure, high technologies and services, introducing mechanisms for the financial support of such projects, and revisiting the issue of establishing the SCO Development Fund and Development Bank.
One year later, on 1 September 2025, at the 25th meeting of the SCO Council of Heads of State in Tianjin, the interested Member States reached a political consensus on establishing the SCO Development Bank.
The establishment of the Development Bank is expected to provide impetus for the SCO’s financial infrastructure to enter a new stage of development.
At the same time, the expansion of settlements in national currencies and the development of interbank cooperation, co-financing instruments and collaboration in the digitalization of public finance demonstrate that the SCO’s financial infrastructure is not limited to a single institution.
The SCO’s new financial architecture should not be confined solely to establishing one bank. Rather, it should integrate mutually complementary financial institutions and instruments into a unified system.
In this regard, it is important to establish effective cooperation mechanisms among the SCO Development Bank, the SCO Interbank Consortium, the national development institutions of Member States, commercial banks and investment funds. Opportunities for co-financing may also be pursued in cooperation with existing multilateral institutions such as the Asian Infrastructure Investment Bank, the New Development Bank, the Asian Development Bank, the Islamic Development Bank and the Eurasian Development Bank.
New Opportunities for Uzbekistan
The development of the SCO’s financial infrastructure offers a number of objective economic benefits for Uzbekistan.
First and foremost, Uzbekistan’s geographical location gives this process particular significance. Situated at the heart of Central Asia, the country serves as an important link in transport routes connecting the SCO region’s major economies with the markets of South and Central Asia. The construction of the China–Kyrgyzstan–Uzbekistan railway is one of the most prominent examples.
Therefore, expanding opportunities to finance cross-border projects within the SCO would also enable Uzbekistan to attract additional long-term resources for its transport, energy and logistics infrastructure.
Second, the new financial mechanisms would broaden the financial base for industrial cooperation. Uzbekistan’s efforts to modernize industry, manufacture high-value-added products and develop joint production chains are becoming increasingly connected with the SCO’s major markets. From this perspective, expanding the range of instruments available for financing regional projects would help diversify the sources of finance for joint investment projects.
Third, the development of the SCO’s financial infrastructure would provide greater opportunities to diversify sources of financing. For Uzbekistan, this means complementing its existing cooperation with international financial institutions and bilateral creditors with new regional financial mechanisms.
A New Stage of Financial Cooperation
The SCO is entering a new stage of its development. While security and political dialogue occupied a central place during the Organization’s initial period, today there is a growing need to support economic cooperation through concrete projects and effective financial instruments.
Therefore, the principal criterion for developing a new financial architecture within the SCO should not be the number of new institutions, but their practical effectiveness. Every new mechanism should contribute to increasing trade and investment, strengthening infrastructure connectivity, promoting industrial cooperation and mobilizing private capital.
Most importantly, effective financial mechanisms must be created that are capable of transforming the SCO’s vast economic potential into tangible investment projects. This would elevate cooperation within the Organization from coordination and dialogue to a level of practical partnership that delivers real investment, new production capacities, modern infrastructure and shared economic development.
SCO AND WATER DIPLOMACY: IN PURSUIT OF COMMON INTERESTS
📅 20.08.2026
Transforming water from an object of competition into a factor of cooperation is a vital condition for regional stability.
Water is a precious resource and a source of life. It is not merely a natural resource but also a strategic factor that determines a country's food and energy security, economic development, environmental stability, and the well-being of its people.
Against this backdrop, there is a growing need for political dialogue and practical cooperation aimed at the rational, equitable, and mutually beneficial use of transboundary rivers and shared water resources. In other words, water diplomacy is needed to turn water into a tool of cooperation that brings states together rather than a source of conflict.
The founding documents of the Shanghai Cooperation Organization list the rational use of natural resources, including water, environmental protection, and the implementation of joint ecological programs as main areas of cooperation. Therefore, the issue of water is not a topic that was later added to the SCO agenda, but one of the organization's initial priorities.
In recent years, the political and legal foundations of this area have been further strengthened. The SCO's Dushanbe and Samarkand Declarations identified access to safe drinking water and the integrated, rational management of water resources as important conditions for sustainable development.
At the seventh meeting of the heads of ministries and agencies of SCO member states responsible for environmental protection, held in Bishkek on April 3, 2026, issues of climate change adaptation, glacier preservation, and water resource management were discussed. This indicates that the topic of water is taking on an increasingly important role in the organization's practical agenda.
At the same time, representatives of the SCO member states are seeking practical solutions to water-related issues through meetings, consultations, and negotiations in various formats. On August 7, 2026, the 94th meeting of the Interstate Commission for Water Coordination (ICWC) was held in the city of Turkestan, Republic of Kazakhstan.
The water management ministers and officials from Kazakhstan, Tajikistan, Turkmenistan, and Uzbekistan reviewed proposals for water limits and operating regimes for reservoirs in the Syr Darya and Amu Darya basins for the 2026 growing season, as well as a plan to introduce an automated water accounting system in the Syr Darya basin. The development of the document was approved, and special working group is expected to be established by September of this year.
Furthermore, the parties discussed the implementation of the $20 million Regional Cooperation for Improving the Efficiency of Water Resources Use in Central Asian Countries (CAWEC) grant project, in partnership with the World Bank, as well as the execution of tasks stemming from the decisions of the Council of Heads of the Founding States of the International Fund for Saving the Aral Sea.
With the support of the German Agency for International Cooperation (GIZ), measures are being taken to implement a pilot project to automate the water resources monitoring and accounting system at transboundary water facilities between Kazakhstan and Uzbekistan.
From August 10-12, 2026, a three-day regional training was held in Tashkent on the topic "Introduction of Water-Saving Irrigation Technologies and Digital Solutions in the Water Management Sector of Central Asia under Climate Change."
The training was organized at the initiative of the Ministry of Water Resources of the Republic of Uzbekistan, within the framework of the National Water Resources Management Project in Uzbekistan and the Blue Peace Central Asia (BPCA) project, with the participation of the "Suvchilar maktabi" (School of Water Professionals).
Water management specialists from Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan participated in the event.
The primary objective of the event was to enhance the professional capacity of water management specialists from Central Asian countries, expand the mutual exchange of experience, and strengthen practical cooperation in the efficient use of water resources, the introduction of modern irrigation technologies, and the digitalization of the sector, as well as to familiarize them with the advanced solutions being implemented in Uzbekistan.
It is important to emphasize that Uzbekistan views water diplomacy not only as an instrument of foreign policy but also as a logical continuation of the large-scale reforms being implemented domestically. Indeed, to promote the idea of efficient water use in regional dialogue, each state must first reduce water waste within its own territory and establish a modern management system.
In his Address to the Oliy Majlis and the people of Uzbekistan, President Shavkat Mirziyoyev noted that water scarcity is becoming an increasingly urgent global issue; for this reason, the rational use of water was elevated to the level of state policy from the very first days of the reforms.
The results achieved in the sector in recent years are reflected in the figures . In 2025, construction and reconstruction work was carried out at 258 irrigation and melioration facilities, and 723 kilometers of canals were lined with concrete. Additionally, 158 kilometers of irrigation and 303 kilometers of collector-drainage networks were built or reconstructed. As a result, the water supply for 364,000 hectares of land was improved, and the loss of more than 500 million cubic meters of water was prevented.
In 2026, a total of 2 trillion 199 billion soums were allocated from the state budget for construction and reconstruction work under 308 irrigation and melioration projects.
As of August 1 of the current year, construction work worth 1.3 trillion soums has been completed, which constitutes 59% of the established annual plan. Specifically, 637 kilometers of canals were lined with concrete and reconstructed. Furthermore, 52 kilometers of irrigation networks—flumes and pipes—and 27 hydraulic structures were built and reconstructed. To increase the energy efficiency of water management facilities and ensure uninterrupted water supply, pumping stations with a capacity of 13 m3/sec, 31 irrigation wells, 33 kilometers of pressure pipelines for pumping stations, and 268 kilometers of collector-drainage networks were built and reconstructed.
Significant progress is also being made in the introduction of water-saving technologies. By the end of 2025, the coverage of such technologies reached 2.6 million hectares, or 61% of irrigated areas. Of this, drip irrigation technology was introduced on 664,000 hectares. Thanks to these technologies, 3 billion cubic meters of water were saved. By the end of 2026, the goal is to increase the coverage of water-saving technologies to 3.1 million hectares and save 5 billion cubic meters of water. To date, water-saving technologies have been implemented on a total of 638,000 hectares across the republic.
These figures are significant not only for the national economy but also for the regional water balance. Every cubic meter of water saved in one country reduces the pressure on the entire basin. In this sense, lining irrigation canals with concrete and implementing water-saving technologies are not only national-level initiatives but also diplomatic contributions that strengthen regional trust.
To manage water effectively, it must be accurately measured. Where there is no accounting, it is difficult to assess savings, identify losses, and ensure fair distribution.
From this perspective, the digitalization efforts underway in Uzbekistan's water management sector not only increase the efficiency of domestic management but also create a technological foundation for the reliable exchange of transboundary water data in the future.
In 2025, the Center for Digitalization and Monitoring of Water Management was established, and a modern Situational Center was launched to consolidate industry data at a single point. Ten information systems were introduced. The "State Water Cadastre" and "Melioration" information systems were enhanced with the capability to analyze data, generate forecasts, and develop recommendations using artificial intelligence.
Forty-four sensors were installed in reservoirs, enabling remote monitoring of water levels and volumes. A design organization is conducting nationwide studies for the installation of 272 devices to measure water intake across the state border in real time, as well as for the installation of specialized equipment at 1,895 points for the online management and monitoring of inter-district water resources.
The significance of such projects goes beyond technical convenience. Reliable real-time data increases transparency in water distribution, reduces the human factor, and prevents contentious situations.
In the future, it may be possible to coordinate the national information systems of the SCO member states. This does not mean transferring all data to a single center. On the contrary, it envisions the formation of a mechanism for exchanging necessary hydrological indicators in an agreed-upon format, while respecting the sovereignty and national legislation of each state.
The water-energy-food nexus is a prerequisite for sustainable development. Within the framework of the SCO, it is advisable to form a permanent mechanism that integrates cooperation between water, energy, and agriculture agencies. Such a mechanism would enable the joint analysis of seasonal reservoir operation, electricity exchange, irrigation needs, and ecological flows.
The SCO region has accumulated extensive experience in using drip and sprinkler irrigation, canal lining, closed pipeline networks, smart water meters, energy-efficient pumps, and forecasting systems based on artificial intelligence.
By consolidating this experience, it is possible to implement model projects adapted to various climatic conditions. For example, within the SCO, it would be beneficial to establish pilot zones to demonstrate water-saving technologies, train specialists and farmers, and evaluate the results based on a unified methodology.
Sound decisions on water issues must be based on scientific research. Therefore, it is important to implement joint scientific programs among the research institutes, universities, and water management organizations of the SCO countries.
When managing water resources, considering only today's needs is insufficient. The impact of every decision on future generations, natural ecosystems, and the interests of neighboring states must also be thoroughly assessed.
Today, it is not enough to view water diplomacy solely as a means of preventing conflict. It must also stimulate economic development, attract investment, accelerate the exchange of technologies, and strengthen food and energy security.
The SCO is a major regional structure capable of uniting these opportunities. Cooperation within the Organization must transition from negotiations over water distribution to the stage of creating common economic benefits and ensuring sustainable development through water.
Indeed, water does not recognize state borders. Its flow interconnects the destinies, well-being, and futures of peoples.
The rational use of water is economic development, its just management is good neighborliness, and conserving every drop is our shared responsibility for the future.
Zokir Ishpulatov,
First Deputy Minister of Water Management of the
Republic of Uzbekistan
Uzbekistan and Kyrgyzstan: Strategic Partnership, Institutionalization, and Mechanisms of Cooperation
📅 26.07.2026
The forthcoming state visit of President of the Republic of Uzbekistan Shavkat Mirziyoyev to Kyrgyzstan on 30–31 July will mark a new milestone in the development of Uzbek–Kyrgyz relations, which have undergone a profound transformation in recent years—from overcoming accumulated disagreements to building a comprehensive model of strategic cooperation.
Today, relations between the two countries are experiencing one of the most substantive periods in their history. Only a few years ago, a significant part of the bilateral agenda concerned issues relating to the state border, the operation of border checkpoints, and the restoration of mutual trust. However, consistent political dialogue has made it possible to resolve the outstanding issues and create space for a new level of cooperation in industry, investment, energy, transport, cross-border development, and the humanitarian sphere.
At the heart of these changes lies the political will of the leaders of the two states. Reciprocal visits and a shared readiness to seek mutually acceptable solutions have created a new atmosphere of trust that now defines the nature of bilateral cooperation. The regular and trust-based dialogue between President of the Republic of Uzbekistan Shavkat Mirziyoyev and President of the Kyrgyz Republic Sadyr Japarov has brought bilateral relations to a fundamentally new level. The signing of the Declaration on Comprehensive Strategic Partnership in 2023 was a logical continuation of this course. The document became both a political symbol of rapprochement and an institutional foundation for long-term cooperation, formalizing the transition of relations to a qualitatively new stage.
The main achievement of recent years is that the border between Uzbekistan and Kyrgyzstan is no longer perceived solely as a dividing line. It is gradually becoming a space for economic growth, people-to-people contacts, and shared opportunities. This transformation has been one of the most significant accomplishments of the new era of Uzbek–Kyrgyz relations. The final settlement of state border issues was of particular historical importance.
The signing in Khujand on 31 March 2025 of the Treaty on the Junction Point of the State Borders of Uzbekistan, Kyrgyzstan, and Tajikistan demonstrated the ability of the region’s states to resolve the most complex issues independently, on the basis of mutual respect and due consideration of one another’s interests.
It is symbolic that the successful completion of the process of resolving border issues in Central Asia has also received international recognition. Adopted on 20 May 2026 at the initiative of the Kyrgyz Republic, the United Nations General Assembly resolution entitled “Peaceful Settlement of Border Disputes” established at the global level the principles of resolving territorial issues peacefully through dialogue, mutual trust, and consideration of the interests of all parties. For Central Asia, where historic progress has been achieved in recent years in the delimitation of state borders, the document represented important confirmation of the relevance of the region’s accumulated experience and recognition of the contribution made by Central Asian countries to international security.
The political and legal foundation that has been established is now undergoing further institutional development. The leaders’ declarations and agreements are supported by a comprehensive set of mechanisms, including the Supreme Interstate Council, the Intergovernmental Commission, the Interparliamentary Commission, the Business Council, and formats for interregional cooperation. Significantly, the twelfth meeting of the Joint Intergovernmental Commission was held in Cholpon-Ata in June this year, during which the parties agreed on further measures to expand trade, industrial cooperation, and transport and energy interaction.
The intensive political dialogue is naturally reflected in the economy, which today serves as one of the clearest indicators of the changes that have taken place. Over the past ten years, bilateral trade has increased more than sevenfold, from USD 167.5 million to USD 1.2 billion. Last year alone, growth of 40 percent was recorded.
At the same time, Uzbekistan has become one of Kyrgyzstan’s largest trading partners, accounting for approximately 7 percent of its foreign trade turnover. It is noteworthy that mutual trade has become considerably more diversified in recent years.
Whereas bilateral trade was previously based mainly on the exchange of agricultural products, it is now increasingly dominated by higher value-added goods and products from processing industries. In particular, more than 90 percent of Uzbek exports consist of processed products (40 percent), finished goods (45 percent), and services (6 percent).
A clear example of this progress is the growing number of enterprises involving capital from the two countries. More than 300 enterprises with Kyrgyz investment currently operate in Uzbekistan, while around 70 enterprises involving Uzbek businesses operate in Kyrgyzstan. This indicates that the business communities of the two countries increasingly regard each other not only as markets for their products, but also as partners in joint production and the development of long-term industrial ties.
The Uzbekistan–Kyrgyzstan Development Fund has become an important instrument in supporting this trend. The decision to increase its authorized capital to USD 200 million significantly expands opportunities to finance projects in industry, agriculture, logistics, energy, construction, tourism, and services. This is helping to create a more sustainable economic foundation for bilateral cooperation. In the future, joint ventures could become the core of cross-border production chains targeting third-country markets by combining Uzbekistan’s industrial capacity, Kyrgyzstan’s natural resource and energy potential, and the advantageous geographical position of both countries.
The dynamic growth of trade and industrial cooperation has naturally increased the importance of transport connectivity, which is becoming one of the key areas of the new stage of Uzbek–Kyrgyz cooperation. In recent years, cooperation has moved beyond the modernization of roads and border checkpoints toward the implementation of regional-scale infrastructure projects. Chief among them is the China–Kyrgyzstan–Uzbekistan railway, which opens a new chapter in the transport integration of Central Asia.
After almost three decades of discussion, the project has entered the implementation stage. With a total length of 538 kilometres, the railway will connect China’s western regions with Central Asia and provide the shortest overland route toward the Middle East and Europe.
The new railway is expected to shorten the freight route between China and Europe by approximately 900 kilometres, reduce delivery times by seven to eight days—almost one-third—and carry up to 15 million tonnes of cargo annually.
For Kyrgyzstan, the project means transforming from a landlocked country into an important Eurasian transit link. For Uzbekistan, it means diversifying export routes, strengthening ties with China, and improving the resilience of foreign trade. At the same time, the project’s significance extends far beyond the construction of a railway. Logistics centres, industrial zones, and new production facilities will emerge along the route. Combined with the development of the Trans-Afghan Transport Corridor, this will create the conditions for Central Asia to become one of Eurasia’s key transport and logistics hubs.
Energy cooperation occupies a special place in the Uzbek–Kyrgyz partnership. For many years, water and energy issues remained among the most sensitive aspects of relations between the countries of the region. Today, however, a fundamental shift is taking place: rather than focusing on differences, the parties are increasingly concentrating on joint solutions.
The most ambitious example of this approach is the construction of the Kambarata-1 Hydropower Plant, which Kyrgyzstan is implementing jointly with Uzbekistan and Kazakhstan. The project, valued at approximately USD 4 billion, envisages the construction of a hydropower facility with a capacity of 1,860 MW and annual electricity generation of 5.6 billion kWh, making it one of the largest energy facilities in Central Asia.
The project’s importance goes far beyond the energy sector. For the first time in the region’s history, three states are jointly implementing an infrastructure project of this scale, sharing investment, risks, and future benefits. Its implementation will strengthen regional energy security, enhance the sustainability of the water and energy balance, and expand opportunities for mutual electricity supplies.
At the same time, the sustainability of the strategic partnership is determined not only by large-scale infrastructure projects. The humanitarian dimension of cooperation, rooted in the historical closeness of the two peoples and intensive interpersonal contacts, plays an equally important role.
More than 300,000 ethnic Kyrgyz currently live in Uzbekistan, where six Kyrgyz cultural centres and more than 50 schools offering instruction in the Kyrgyz language operate. Kyrgyzstan, in turn, is home to a large Uzbek community that forms an integral part of the country’s social and cultural fabric. These humanitarian ties have become one of the most important sources of trust between the two states.
The most vivid practical manifestation of the level of trust achieved can be seen in the Fergana Valley, a region where the most complex issues of cross-border interaction had been concentrated for decades. In many ways, the valley serves as a reflection of the processes taking place across Central Asia. Today, it is gradually being transformed from an area of potential disagreement into a territory of cooperation, dialogue, and joint development.
An important symbol of this transformation was the first Fergana Peace Forum, held in the city of Fergana in October 2025 under the slogan “Fergana Valley: Joining Efforts for Peace and Progress.” For the first time, the Fergana Valley became a platform for developing joint solutions. Discussions focused on strengthening trust, advancing cross-border cooperation, unlocking the region’s economic potential, promoting cultural engagement, and enhancing the role of young people in ensuring sustainable peace.
A notable feature of the Fergana Forum was the holding of Yntymak Day, or “Day of Unity,” under its auspices. Since 2023, the event has been held in Kyrgyzstan as a platform for strengthening dialogue among government bodies, civil society institutions, and international organizations in support of peace and harmony in the region. In 2025, it was held in Uzbekistan for the first time.
The emerging atmosphere of cooperation is reflected not only in political initiatives but also in the growth of humanitarian contacts between the citizens of the two countries. Cooperation in tourism expanded considerably in 2025. Kyrgyzstan is among the largest sources of tourists visiting Uzbekistan. While approximately 652,000 Kyrgyz citizens visited the country in 2021, the figure reached 3.3 million in 2025. The growth in mutual travel demonstrates that open borders and improved transport links are already having a direct impact on everyday contacts between the people of the two countries.
Cultural exchange is also expanding. Days of Culture, joint festivals, educational programmes, and events dedicated to the legacy of prominent figures from both nations are strengthening Central Asia’s shared humanitarian space. The legacy of Chinghiz Aitmatov, whose works form part of the region’s common cultural heritage, carries particular symbolic importance.
Joint events marking anniversaries associated with his life and work demonstrate that culture is becoming an important means of strengthening mutual understanding between the two peoples.
Kyrgyzstan’s election as a non-permanent member of the United Nations Security Council for 2027–2028 adds an international dimension to the Uzbek–Kyrgyz partnership. This historic achievement not only reflects the high degree of confidence that the international community places in Kyrgyzstan’s foreign policy, but also opens new opportunities to promote Central Asian interests on the global stage.
For Uzbekistan, Kyrgyzstan’s membership of the Security Council offers an additional opportunity for closer coordination on regional security, sustainable development, the water and climate agenda, transport connectivity, and the strengthening of multilateral cooperation. It will enable the countries to advance Central Asia’s shared interests more consistently, building on the high level of trust and strategic partnership established between the two states.
Kyrgyzstan’s election can also be regarded as a shared achievement for the region, reflecting Central Asia’s growing international standing and recognition of the policy of good-neighbourliness and constructive cooperation pursued by the region’s states.
Against this background, the issue of further deepening the Uzbek–Kyrgyz strategic partnership is taking on particular significance. Whereas the previous stage of bilateral relations focused on restoring trust, resolving accumulated disagreements, and creating a solid political and legal foundation for cooperation, the success of the current stage will largely depend on the ability of the two states to make joint use of emerging opportunities and translate the level of political trust achieved into sustainable institutional mechanisms for long-term development.
This is especially relevant in the context of implementing major projects designed for decades to come, including the China–Kyrgyzstan–Uzbekistan railway, the Kambarata-1 Hydropower Plant, the expansion of industrial cooperation, and the formation of new transport, logistics, and production chains. Their effectiveness will depend not only on the volume of investment but also on the parties’ ability to ensure predictable conditions for cooperation, coordinated decision-making, and the long-term stability of the mechanisms they establish.
The development of cross-border cooperation remains one of the most promising areas. The final settlement of state border issues has created opportunities to transform border regions into spaces of shared economic growth. Further improvement of cooperation mechanisms between border regions, the implementation of joint infrastructure projects, and stronger interregional ties could make these areas one of the key drivers of bilateral cooperation.
At the same time, construction of the China–Kyrgyzstan–Uzbekistan railway is creating the conditions for the establishment of joint logistics and industrial zones along the route, the development of modern multimodal terminals, and the digitalization of customs and border procedures. This will make it possible to transform the new railway from merely a transport route into a fully fledged economic corridor that stimulates industrial development and attracts international investment.
The development of industrial cooperation offers equally important prospects. The next stage could involve the establishment of sustainable cross-border production chains, expanded cooperation between small and medium-sized enterprises, joint access to third-country markets, and the further removal of remaining administrative barriers to mutual trade and investment.
The strong complementarity of the two economies creates opportunities for deeper sectoral specialization, particularly in the agro-industrial sector. The establishment of joint clusters for the advanced processing of agricultural products would significantly increase added value, improve the competitiveness of producers, and expand export potential.
At the same time, climate change and the growing risks posed by transboundary natural hazards are objectively broadening the strategic partnership agenda. In these circumstances, strengthening mechanisms for the joint prevention of and response to emergencies, developing information-sharing and early-warning systems, and coordinating efforts to ensure the environmental security of border areas are becoming increasingly important.
The further development of water and energy cooperation remains another major priority. The Kambarata-1 Hydropower Plant project already demonstrates a transition toward a new model of regional cooperation based on joint investment, shared infrastructure management, and the distribution of benefits. In the future, the principles of mutual consideration of interests, equitable benefit-sharing, and collective responsibility for the rational use of water resources could form the basis of a modern system of regional water and energy partnership.
Thus, the further development of the Uzbek–Kyrgyz strategic partnership will be determined not only by maintaining a high level of political dialogue but also by consistently strengthening the institutional foundations of cooperation. This approach will ensure the sustainability of the progress achieved and create a solid basis for implementing joint projects in the interests of both states and Central Asia as a whole.
In conclusion, Uzbek–Kyrgyz relations are currently experiencing perhaps the most dynamic stage in the independent history of the two countries. The strategic partnership between Tashkent and Bishkek extends far beyond bilateral cooperation and is becoming an important factor in shaping a new architecture of interaction in Central Asia.
The joint settlement of border issues, implementation of major infrastructure projects, advancement of regional initiatives at the United Nations, and expansion of opportunities for coordinating international efforts demonstrate that Uzbekistan and Kyrgyzstan are moving from resolving accumulated problems to jointly shaping the future. This model of partnership is becoming one of the key sources of stability, connectivity, and international agency for Central Asia as a whole.
Azamat Sulimanov
Head of Department, Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan (ISRS)
Shakhlo Khamrakhodjaeva
Leading Research Fellow, Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan (ISRS)
CERR Updates Bank Ranking for Q1 2026
📅 17.04.2026Following the results of Q1 2026, the ranking of large banks underwent notable changes. While the leading group remained intact, positions within the segment were reshuffled. In the small-bank category, movements were also significant, pointing to continued realignment and stronger competition across the sector.
The Center for Economic Research and Reforms presented the updated Bank Ranking based on the results of the Banking Activity Index for Q1 2026.
The study covers 34 commercial banks of the republic, including 20 classified as large financial institutions by scale and branch network, while the remaining 14 were categorized as small banks.
The methodology is based on the analysis of 27 indicators benchmarked against national averages and international standards, including the requirements of the Basel Committee. The ranking serves as an important tool for enhancing transparency and strengthening confidence in the financial system. This approach is consistent with international practice and is widely used by leading financial institutions.
Financial Results for Q1 2026
During the reporting period, total assets of the banking sector amounted to 932.3 tn sums ($76.3 bn), while liabilities reached 793.9 tn sums ($64.9 bn). Lending increased by 14%, while deposits grew by 32%. The aggregate capital of the banking system was fully denominated in the national currency. Net profit reached 3.1 tn sums ($254 mn), which is 36.3% higher than a year earlier.
During the period under review, the share of non-performing loans declined to 3.3%, compared with 4.5% a year earlier, indicating improved portfolio quality. At the same time, in several banks the ratio remains above the sector average. Capital adequacy indicators exceed minimum regulatory requirements by more than 1.4 times, confirming the resilience of the banking sector.
Large Banks Activity Ranking for Q1 2026
The results of Q1 2026 show that despite the relative stability at the top of the ranking, both categories of banks recorded notable positional changes.
In the large-bank segment, performance was mixed. Out of 20 banks, 7 improved their positions, 8 declined, and 5 retained their previous places. This reflects a high level of competition and the ongoing redistribution of market positions.
The most notable progress was demonstrated by Tenge Bank, which moved up by 6 positions. Three more banks — Agrobank, Invest Finance Bank, and Xalq Bank — advanced by 2 positions each. Positive momentum was also recorded by Ipak Yuli Bank, Asia Alliance Bank, and Hamkorbank, all of which improved their standing in the overall ranking.
At the same time, several large banks recorded lower activity levels. The most significant decline was observed at Orient Finans Bank and Trast Bank, which fell by 5 and 3 positions respectively.
Changes Across Key Indicators
Financial Intermediation. The leading positions were taken by Invest Finance Bank, Anor Bank and Kapitalbank. In this ranking, Davr Bank and Hamkorbank fell by 4 positions, while Ipoteka Bank declined by 1 position.
Financial Accessibility. The leaders were Agrobank, Anor Bank and BRB. Under this indicator, declines were mainly observed among leading banks: Kapitalbank (-3 positions), Hamkorbank (-7), Asia Alliance Bank (-1), Ipak Yuli Bank (-5), and Trast Bank (-6). The strongest improvement in this ranking was recorded by Tenge Bank (+8), Xalq Bank, Davr Bank (+5), and Agrobank (+4).
Capital Adequacy. The top positions were occupied by Orient Finance Bank, Trast Bank and Halk Bank. At the same time, Agrobank dropped by 4 positions, while Aloqa Bank declined by 2 positions.
Asset Quality. The leaders were Hamkorbank, Asia Alliance Bank and Ipak Yuli Bank. Turonbank fell by 5 positions, while Asakabank, Mikrokreditbank, SQB, Trast Bank and Anor Bank each declined by 2 positions.
Management Efficiency. The highest positions were held by SQB, Orient Finance Bank and NBU. At the same time, Asaka Bank dropped by 5 positions, while BRB declined by 4 positions.
Profitability. The leaders were Hamkorbank, Trast Bank and Asia Alliance Bank. Turon Bank, after falling by 3 positions, ranked last. In this ranking, Kapitalbank, Asia Alliance Bank, Anor Bank and Davr Bank declined by 2 positions, while Ipoteka Bank and Mikrokreditbank fell by 1 position.
Liquidity. The leaders were Asia Alliance Bank, Ipak Yuli Bank and Trast Bank. At the same time, Mikrokreditbank, Ipoteka Bank, Anor Bank and SQB each declined by 1 position.
Small Banks Activity Ranking for Q1 2026
The small-bank group remained relatively stable, with leading institutions retaining their positions. The main changes in this category were concentrated in the middle segment, where several banks improved their standing due to stronger financial intermediation and higher profitability.
Within this group, 8 out of 14 financial institutions improved their rankings. The most notable gains were recorded by AVO Bank and Apex Bank, both rising by 3 positions. TBC became the leader of the ranking.
At the same time, 5 banks moved down, with the sharpest decline recorded by Octobank, which lost 6 positions. Saderat Bank, Garant Bank, and Ziraat Bank each rose by 2 positions. The ranking was rounded out by Open Bank and Uzum Bank, both up by 1 position.
Jafar Khidirov, CERR
CERR Banking and Financial Sector Research Sector
Tel: (78) 150 02 02 (441)
CERR Public Relations and Media Sector
Tel: (78) 150 02 02 (417)
Termez platform – dialogue for ensuring security and stability in Central and South Asia
📅 31.05.2026
Since ancient times, Central and South Asia have been closely connected through trade, cultural exchange and political processes. Geographical proximity and ancient trade routes contributed to active dialogue between peoples and civilizations, the exchange of goods and culture as well as the formation of a shared historical and cultural identity in the region. Following the acquisition of independence, the Central Asian states began gradually developing their own foreign policy and economic strategies toward South Asia.
Given the significance of Central and South Asia, shaped by their strategic location, abundant natural resources, demographic potential and historical heritage, these regions have become the subject of extensive scientific research. Thus, from the perspective of the regional security complex, scholars consider Central and South Asia as two independent yet equal regions. In this context, it is important to emphasize the transformation of Afghanistan’s role as a key component of the regional security complex, facilitating interconnectedness and the gradual rapprochement between South and Central Asia.
It should be noted that Uzbekistan, located in the heart of Central Asia, plays a key role in ensuring regional security and stability. At the same time, the country, actively promoting constructive foreign policy initiatives aimed at strengthening peace and cooperation in the region, acts as the locomotive of economic interconnectedness between Central and South Asia. Recognizing the growing demand for mutual ties between the regions, in July 2021 in Tashkent a high-level international conference “Central and South Asia: Regional Connectivity. Challenges and Opportunities” was held. There the proposal to develop and submit for consideration to the UN General Assembly a draft special resolution “On Strengthening the Connectivity between Central and South Asia” was put forward. As a result, in July 2022, the UN member states unanimously approved the adoption of this resolution, which became another vivid testament to the recognition of our country’s role and authority in deepening interconnectedness, establishing dialogue with the region and maintaining peace and stability.
It should be emphasized that the resolution calls on states to unite their efforts in combating common challenges and threats to stability and security in Central and South Asia, recommends continuing and deepening interregional cooperation by expanding transport infrastructure and information-communication technologies, as well as by developing new international transport corridors that provide convenient, sustainable, commercially viable, affordable, accessible, inclusive and safe routes to seaports.
In these processes, Termez has the potential to become a unique platform for connecting the two regions, both in terms of ensuring regional security and in terms of developing trade and economic relations. At the same time, the city of Termez, historically considered as one of the centers of dialogue between peoples and civilizations, the development of trade, humanitarian, and other ties, for many centuries occupied a strategically important position in the region. Thus, the era of the Kushan Empire, Termez served as a major cultural center where various civilizations actively interacted. The city was a significant hub for the transmission of Buddhist art and literature, which spread widely across Central and South Asia. Moreover, from a geographical point of view, Termez was a link between Central and South Asia. It was also one of the key points on the Great Silk Road connecting East and West.
At the present stage, Termez serves as a starting point for the implementation of a number of transport and infrastructure projects, such as the “Termez – Naibabad – Maydan Shahr – Logar – Kharlachi” railway, the “Surkhan – Puli-Khumri” power lines, and others. In general, the significance of the Termez platform lies in the following:
Firstly, in the context of ensuring regional security and stability, the city of Termez has consistently held a central position. Following the events of 11/9/2001 the “Termez Strategic Air Transport Point” was established here, which operated from 2002 to 2015 and ensured the logistics of humanitarian cargo for the International Security Assistance Force in Afghanistan. This experience further reinforced the city’s significance as a secure transit and supply hub during times of military instability.
In addition, Termez is actively used within the framework of Uzbekistan’s joint initiatives with international partners in combating terrorism, drug trafficking, and cross-border crime. In this context, the “Friendship Bridge” connecting Uzbekistan and Afghanistan, plays an important role in ensuring control not only over the movement of people and cargo, but also in monitoring the illegal trafficking of drugs (including synthetic drugs) coming from Afghanistan, which is important for maintaining regional security (for example, employees of the “Ayritom” border customs post in Surkhandarya region in March of this year prevented an attempt to illegally import a batch of narcotic drugs with a total weight of 70 kg and in May of this year – 600 kg).
At the same time, Termez is considered a platform for constructive resolution of border issues. Thus, on August 22-28, 2024, a regular meeting of the working groups of the joint Uzbek-Tajik demarcation Commission was held in Termez. During the meeting, joint work continued on coordinating the passage of the design demarcation line of the Uzbek-Tajik state border, following which a corresponding protocol was signed.
Secondly, the trade, economic, and logistical significance of the city of Termez, as a material foundation for long-term peace and security in Central and South Asia, is determined by its strategic location and modern logistical infrastructure.
In particular, in 2022, “The Termez Cargo Center terminal” received the status of an international multifunctional logistics hub serving cargo flows to Afghanistan and South Asian countries. This, in turn, has elevated its status in international humanitarian infrastructure (from 2025 it has been integrated into the UN High Commissioner for Humanitarian Affairs warehouse network) and contributed to the expansion of humanitarian shipments’ geography (in 2022 humanitarian aid was delivered by air from Termez to flood victims in Pakistan, and in 2023, the UNHCR Regional Humanitarian Logistics Center in Termez sent 12 truckloads of over 48,000 blankets to Afghanistan). It is noteworthy that Termez’s infrastructure is being actively utilized by international organizations to deliver food and medicine to South Asia, which contributes to reducing social tension and preventing the escalation of conflicts caused by humanitarian crises.
Furthermore, the opening of the Termez International Trade Center in August 2024, designed to create a favorable business environment and logistics, simplify administrative procedures and create conditions for entrepreneurs, on the one hand, enhances the city’s economic attractiveness and, on the other hand, stimulates the growth of economic cooperation between Central and South Asia. In this context, it should be noted that on the territory of the Center (37 hectares, 500 meters from the border with Afghanistan), where 3 thousand retail outlets are located, a 15-day visa-free regime has been introduced for visitors.
In this regard, Termez is also considered a suitable platform for conducting bilateral economic relations. Thus, in March and April of 2024 year, representatives of the Afghan delegation, headed by the Minister of Trade N. Azizi and business circles of the Balkh province, visited the city of Termez, where they held a meeting with the Uzbek side to develop bilateral trade and economic cooperation and expand cooperation in such sectors as agriculture, textiles, pharmaceuticals, food, and mining.
Thirdly, the cultural and humanitarian potential of Termez is considered to be of considerable importance. Thus, in 2018, at the initiative of the President of the Republic of Uzbekistan, an educational center for Afghan citizens was created. This educational institution is the only one in the world that provides training exclusively for Afghans in 17 areas of higher and 16 areas of secondary specialized, vocational education. During his functioning, about 700 Afghan citizens underwent training, meanwhile 200 of them are girls.
The institution actively maintains international relations and cooperation with donor countries and foreign organizations such as UNDP, EU, GFR, Slovakia, India. Thus, in January 2023, the “EU Knowledge Center” was opened on the basis of this educational institution to train and educate Afghan citizens (this is a coworking space that provides a platform for joint work, self-learning, and establishing professional connections). Overall, the establishment of an educational center for Afghanistan in Termez will expand access to quality education for Afghan citizens, as well as provide an educational environment and technologies for vocational training.
Therefore, Central and South Asia, dynamically developing regions with stable economic growth and new development opportunities, have significant potential due to their rich resources, economic complementarity, demographic potential, common tasks, and geographical proximity. At the same time, Uzbekistan’s efforts are aimed at integrating the two regions within a single space of cooperation, security, and sustainable development.
In these processes, the “Termez platform” not only serves as a constructive mechanism for ensuring security and stability in Central and South Asia, but also has the potential to become an additional tool for developing trade, economic and transport links between the regions. At the same time, a promising area of cooperation for both regions is considered to be, first of all, security issues, including the fight against terrorism, extremism, drug trafficking, as well as the development of interaction in the fields of transport, tourism, and education.
Gulamov Asliddin Gapparovich,
Researcher at the Higher School of Strategic Analysis and Prognosis of the Republic of Uzbekistan
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