Cooperation between the Republic of Uzbekistan and the Republic of Korea has been developing consistently in recent years, acquiring new substance in such priority areas as the economy, investment, advanced technologies, digitalization, and public financial management. Relations aimed at further expanding practical cooperation between the two countries, studying advanced experience, and introducing modern technologies are becoming particularly important.

Within the framework of the Central Asia–Republic of Korea Cooperation Forum, particular attention is being paid to identifying new areas of regional and bilateral cooperation, implementing joint projects in innovative and high-tech sectors, as well as developing human capital.

This process is becoming even more relevant ahead of the high-level visit of the President of the Republic of Uzbekistan to the Republic of Korea on September 14–17. The visit will create important opportunities for bringing the strategic partnership between the two countries to a new level, expanding investment and technological cooperation, as well as reaching new agreements on the implementation of promising projects.

In particular, cooperation between the Republic of Uzbekistan and the Republic of Korea in the area of public financial management and modernization of the treasury system is also developing steadily. In this regard, the Republic of Korea’s advanced experience is being studied as part of the modernization of the treasury system and the gradual transition to a “Digital Treasury” system.

From April 5 to 10, 2026, the Korea Fiscal Information Service (KFIS) organized a training and practical seminar in the Republic of Korea dedicated to public financial management information systems and the introduction of artificial intelligence technologies. The delegation of the Treasury Service Committee under the Ministry of Economy and Finance of the Republic of Uzbekistan took part in the seminar.

During the visit, the advanced information systems used in the Republic of Korea in the field of public financial management were studied in detail, including the operating mechanisms, functional capabilities, and role of the dBrain+, e-Naradoum, and e-Hojo systems in the digitalization of public financial management processes.

In addition, a Memorandum of Understanding was signed between the Treasury Service Committee and the Korea Fiscal Information Service. This document will contribute to further strengthening bilateral cooperation at the institutional level, expanding the exchange of experience, and developing practical cooperation aimed at improving public financial management information systems.

Furthermore, during meetings with the leadership of the Korea Fiscal Information Service, an agreement was reached on the engagement of a highly qualified expert from the Republic of Korea in the process of modernizing Uzbekistan’s public financial management information systems.

There are also prospects for establishing cooperation with the Republic of Korea in developing a semiconductor ecosystem, as well as implementing “OSAT” (the process of chip packaging and testing) and “IC Design” projects.

One of the key areas being identified is the exploration of opportunities to attract the Republic of Korea’s advanced technologies to Uzbekistan in the production of raw materials and high-purity chemical materials for semiconductors, train local specialists, establish cooperation in research and develop a semiconductor materials base in the country.

Within the framework of developing cooperation in the semiconductor sector with “SK Group,” particularly “SK Hynix,” prospects are being considered for technology transfer, the establishment of educational programs in “IC Design,” the training of local engineers and specialists in chip design, the implementation of joint educational programs, including grant-based projects, as well as the establishment of research and development centers.

The implementation of these initiatives will create an important foundation for developing the modern electronics and semiconductor industry in Uzbekistan, training highly qualified engineering professionals, localizing advanced technologies, and establishing new high-value-added manufacturing industries.

Initiatives aimed at applying the Republic of Korea’s advanced technological and institutional experience in Uzbekistan, expanding mutually beneficial investment projects, and training modern specialists will contribute to bringing the strategic partnership between the two countries to a new level.

In this regard, the initiatives being put forward within the framework of the Central Asia–Republic of Korea Cooperation Forum and the high-level visit will serve as an important foundation for further deepening multifaceted cooperation between the Republic of Uzbekistan and the Republic of Korea, implementing new technological projects, and developing high-value-added sectors in the long term.

On 17–19 February, the President of Uzbekistan, Shavkat Mirziyoyev, will pay a visit to the United States and take part in the inaugural meeting of the Peace Council, a new international body established as a multilateral platform to promote dialogue and the peaceful resolution of pressing global and regional conflicts.

The Peace Council was founded in January 2026 at the World Economic Forum in Davos, where the founding charter was formally signed in a ceremony attended by heads of state and government, as well as representatives of several founding countries.

Launched earlier this year, the initiative has garnered the support of a number of states, including Uzbekistan, which joined as a founding member, thereby reaffirming its commitment to the principles of peaceful diplomacy, multilateral engagement, and shared responsibility for maintaining international stability.

The establishment of the Peace Council represents a logical continuation of the international community’s efforts to develop effective mechanisms for conflict prevention and to seek political and diplomatic solutions to the most acute crises of our time, particularly in the Middle East.

Uzbekistan’s participation in the creation of this structure reflects Tashkent’s consistent foreign policy course aimed at promoting dialogue, respect for international law, and the rejection of force-based scenarios. The country’s position on the Palestinian issue—grounded in support for a just and sustainable peace settlement in accordance with United Nations resolutions—has gained additional international resonance within the framework of this initiative.

The upcoming participation of the Uzbek head of state in the first meeting of the Peace Council also aligns with the recent intensification of Uzbek–American political dialogue. Over the past six months, high-level contacts between Tashkent and Washington have significantly increased, signaling a qualitatively new stage in bilateral relations.

In September of last year, the President of Uzbekistan visited New York to attend a regular session of the United Nations General Assembly, where he held meetings with world leaders and heads of international organizations and discussed key issues on the global and regional agenda.

Further momentum was generated in early November 2025 during the Uzbek President’s working visit to the United States, which included talks with the U.S. President, as well as meetings with representatives of the American establishment, Congress, and business circles. Particular attention during the visit was devoted to strategic partnership, economic cooperation, investment engagement, and regional security, including the “C5+1” format, viewed by both sides as an effective mechanism for coordinating efforts in Central Asia.

Contacts between Tashkent and Washington have been maintained across various channels, including telephone conversations and interagency cooperation. An additional indication of growing mutual trust has been the expansion of economic dialogue and the establishment of new business cooperation platforms, reflecting a shared interest in deepening practical engagement. In the United States, Uzbekistan is increasingly perceived as a reliable, predictable, and responsible partner pursuing a balanced and pragmatic foreign policy.

Uzbekistan’s participation in the Peace Council is thus seen as further evidence of the country’s growing international standing and recognition of its constructive role in global affairs. For Washington, it also confirms that Tashkent is an important partner in advancing initiatives aimed at strengthening peace, security, and sustainable development across Eurasia and beyond.

Amid the intensification of political dialogue, Uzbek–American cooperation continues to expand across key areas. These include collaboration in regional security, support for economic reforms in Uzbekistan, the development of trade and investment, and the deepening of humanitarian and educational ties. Joint projects in energy, digitalization, infrastructure, and human capital development are laying a solid foundation for a long-term partnership.

In sum, the forthcoming participation of the President of Uzbekistan in the inaugural meeting of the Peace Council not only underscores the country’s active role in shaping a new architecture of international dialogue, but also complements the positive trajectory of Uzbek–American relations. The visit to the United States will undoubtedly contribute to elevating interaction between Tashkent and Washington to a stable strategic level, serving the interests of both sides and the broader goal of strengthening peace and stability in the region and worldwide.

«Dunyo» IA

The beginning of the 15th century presented profound lessons, primarily for Europe and, moreover, for the entire world. These were the fruits of the activities of Amir Temur (Tamerlane), who was raised in the spirit of the traditions of Turanian statehood, drew inspiration from the life-giving ideas of Islam and elevated social thought to a new level by analyzing his life through the scales of genius.

With the brilliant personality of Amir Temur, the period known globally as the Middle Ages - an evolutionary era that brought numerous innovations to human civilization - came to an end and a new era based on industrial and intellectual revolutions began. Amir Temur’s lessons also had a positive impact on the development of the old continent, Europe. We can clearly observe this through specific parameters.

First of all, the luminous personality of Amir Temur redefined concepts such as ruler, king, and emperor for Europe. In an environment where absolute monarchy and other systems prevailed, the right to rule was passed down from generation to generation based on inheritance. The question of who would hold the reins of the state remained a matter of fate (cases of mentally challenged or disabled individuals ascending the throne occurred in European history).

Furthermore, there were periods when the internal structures of power lacked integrity: the administration functioned on its own, the military sphere acted according to the demands of the situation and the economy developed based on natural potential. Although such circumstances created a practical need for a single, strong hand to unify authority, there were no established legal or social foundations to legitimize such centralized power.

This kind of fragmentation and, moreover, chaos led to various conflicts. From this perspective, “palace games” and “palace intrigues” were commonplace and caused significant headaches. Through Amir Temur’s activities, however, it was proven in practice that one person could manage all tasks (and that a head of state could simultaneously be a military commander, a reformer in economic and spiritual spheres, a patron of science and even a creator). Consequently, concept of a state leader and guide acquired a broader meaning and essence.

Through his activities, the Sahibkiran (Sovereign) elevated Eurasian cooperation to a new level. Although conquerors from Asia such as Attila, Balamber, Genghis Khan, Batu and others captured significant parts of Europe during various historical shifts, leaving a certain mark on its history and managing to impose their policies, the traces left by their nature as steppe nomads -characterized by cruelty, intransigence and severity - came to be remembered in the life of these regions through ruins and atrocities.

Amir Temur’s policy based on compromise, safety and peace he granted to peoples who voluntarily came under his rule without resistance, as well as his creative activities (there is ample evidence of him restoring neglected graves, constructing buildings and digging canals to establish agriculture wherever he went), fundamentally changed the witnesses' perception of the Eastern ruler. Gradually, stereotypes such as “barbarians” and “savages” began to break down. Overall, views towards the East, Asia and specifically the Islamic religion shifted for the better and interest grew.

In Europe, the influence of the church was powerful and often played a brutal role. Campaigns known as the Crusades claimed countless lives. Conflicts arising from tensions between Catholics and Protestants, as well as the Inquisition - which burned enlightened thinkers like Giordano Bruno at the stake and movements like the Jesuits, were opposed to any freedom-seeking endeavor. In Amir Temur’s state, the separation of religion from the state and the clear definition of religion's role and functions within the empire represented a significant progress. This situation laid the foundation for the introduction of progressive ideas into the governance of European states.

In this regard, specific criteria began to be established and were refined over the years. Whereas previously science and education were under the control of the church, the state now began to involve itself in these sectors. Consequently, secular directions were strengthened in educational institutions, which led to the advancement of science.

The personality and name of the Sahibkiran (Sovereign) became famous throughout the world. As the “Saviour of Europe”, a golden statue of him adorned the halls of the Louvre in Paris. English playwright Christopher Marlowe initiated the process of creating the image of Amir Temur in world literature by writing the tragedy ‘Tamburlaine the Great’ (1587). In 1681, another English writer, Charles Saunders, wrote and staged the tragedy “Tamerlane”.

Those who viewed Amir Temur with an impartial eye recognized and valued him as a statesman and military leader who influenced and initiated the European Renaissance and as the one who saved Europe and Russia.

Hakim SATTORIY,

An analysis of nighttime satellite illumination data indicates a strengthening of economic activity across regions and an expansion in the number of territories exhibiting urban-type development.

The Center for Economic Research and Reforms (CERR) applied satellite-based nighttime lights (NTL) data to assess economic activity at the level of regions and cities in Uzbekistan.

The analysis shows that higher light intensity corresponds to higher levels of economic activity and more advanced urban infrastructure.

CERR’s findings demonstrate a high degree of consistency between satellite-based indicators and official statistics. In particular, according to estimates based on NASA nighttime lights data, nominal GDP per capita in Uzbekistan grew by 80.3% in 2020–2025, corresponding to an average annual growth rate of 15.8%, increasing from $2,090 to $3,887 over five years.

For comparison, according to official statistics, GDP per capita increased by 81.8% over the same period, with an average annual growth rate of 16.1%, rising from $2,048 to $3,881.

Economic Activity in Large and Medium-Sized Cities

According to the data, over the past five years the highest growth in gross regional product (GRP) per capita among regions was recorded in the city of Tashkent, where the indicator increased by approximately $5,000, reaching $9.3 thousand by the end of 2025 (according to official statistics — $9.2 thousand).

Estimates for 2025 also show high GRP per capita levels in a number of large and medium-sized cities. In Navoi, the NTL-based estimate reached $9.3 thousand, in Zarafshan $7.9 thousand, in Samarkand $7.2 thousand, in Kokand and Andijan $6.7 thousand each, and in Akhangaran, Yangiyul, and Bukhara ranged from $5.8 thousand to $5.2 thousand, respectively.

Relatively high growth rates of GRP per capita were also observed across several regions. In Tashkent region, the indicator increased by $1.8 thousand to reach around $4 thousand. In Navoi region, GRP per capita also grew by $1.8 thousand to approximately $4 thousand. In Fergana and Syrdarya regions, the increase amounted to $1.6 thousand, reaching about $3.5 thousand and $3.4 thousand, respectively.

Economic Activity in Small and Medium-Sized Cities

Relatively high GRP per capita levels were also recorded in a number of small and medium-sized cities. In Termez, the indicator reached $5.1 thousand, in Margilan and Chirchik around $5 thousand, and in Namangan $4.8 thousand. Economic activity levels also remain relatively high in the cities of Kagan and Urgench.

Economic Activity at the District Level

At the district level, the highest GRP per capita growth dynamics in 2020–2025 were observed in Mirabad district, where the indicator increased by $7.1 thousand, in Yakkasaray district by $6.3 thousand, and in Chilanzar district by $5.6 thousand. As a result, GRP per capita in these districts exceeded $10 thousand, which is nearly three times higher than the average across other districts and cities in the country.

Among districts, the highest growth rates of economic activity were also recorded in Karmana district (2.5-fold increase), Yashnabad and Bektemir districts (2.4-fold), as well as Sergeli, Yangi Hayot, and Mirzo Ulugbek districts (2.3-fold).

Expansion of Territories with High Economic Activity

The use of nighttime lights data also made it possible to assess urbanization processes at the district level. In particular, between 2020 and 2025, the number of territories with high nighttime light intensity (NTL above 10), characteristic of urban agglomerations, increased from 22 to 31. The average GRP per capita in these territories rose from $3.8 thousand to $7 thousand.

At the same time, over five years the number of districts with low nighttime light intensity (NTL below 1) declined from 129 to 85, confirming the transition of 44 districts toward an urban-type development model.

In these districts, NTL levels increased on average by more than 2.5 times, while GRP per capita rose from $1.7 thousand to $3.2 thousand.

Conclusion

The results confirm that satellite-based nighttime lights data can effectively complement official statistics and be used for timely assessment of regional economic activity.

This approach enables the identification of new growth points and allows for more targeted allocation of state support toward infrastructure development and investment activity in the regions.

Abdulaziz Gaybullayev, CERR

CERR Public Relations Sector

Tel.: (+998) 78 150-32-20 (417)

The text of the article is in Uzbek!

In connection with the advent of Eid al-Adha, the holy holiday of Eid al-Adha, which embodies such noble values as mercy, generosity, humanism and harmony, and promotes an atmosphere of mutual respect and tolerance in society, President of the Republic of Uzbekistan Shavkat Mirziyoyev has received heartfelt congratulations from the heads of foreign States and governments, respected public and religious figures and heads of leading international and regional organizations.

In their messages, they express to the head of our state and the multinational people of Uzbekistan words of sincere respect, wishes for peace, well-being and prosperity, as well as reaffirm their commitment to the full strengthening of relations of friendship and multifaceted cooperation.



Congratulations, in particular, were sent to:

The Minister, Two Holy Shrines, King Salman bin Abdulaziz Al Saud of Saudi Arabia;

Crown Prince Muhammad bin Salman bin Abdulaziz Al Saud, Chairman of the Council of Ministers of Saudi Arabia;

President Recep Tayyip Erdogan of the Republic of Turkey;

Abdelfattah Al-Sisi, President of the Arab Republic of Egypt;

President of the Republic of Kazakhstan Kassym-Jomart Tokayev;

President of the Kyrgyz Republic Sadyr Zhaparov;

President of the Republic of Tajikistan Emomali Rahmon;

President of Turkmenistan Serdar Berdimuhamedov;

National leader of the Turkmen people, Chairman of the Khalk Maslakhaty of Turkmenistan Gurbanguly Berdimuhamedov;

Ilham Aliyev, President of the Republic of Azerbaijan;

Sheikh Muhammad bin Zayed Al Nahyan, President of the United Arab Emirates;

Vice President, Prime Minister of the United Arab Emirates, Ruler of the Emirate of Dubai, Sheikh Mohammad bin Rashid Al Maktoum;

Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Minister of Presidential Affairs of the United Arab Emirates;

Shaikh Seif bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Interior of the United Arab Emirates;

Turki bin Muhammad bin Fahd bin Abdulaziz Al Saud, Minister of State and member of the Council of Ministers of Saudi Arabia;

Emir of the State of Kuwait Mishaal Al-Ahmad Al-Jaber Al-Sabah;

Crown Prince of the State of Kuwait Sabah Khaled Al-Hamad Al-Muborak Al-Sabah;

King Abdullah II of the Hashemite Kingdom of Jordan;

King Muhammad VI of Morocco;

Abdelmajid Tebboun, President of the People's Democratic Republic of Algeria;

Mahmoud Abbas, President of the State of Palestine;

Secretary General of the Organization of Turkic States Kubanychbek Omuraliev;

Secretary General of the Economic Cooperation Organization, Khusraw Noziri;

Secretary General of the Organization of Islamic Cooperation Hussein Ibrohim Taha;

Sheikh-ul-Islam Allahshukur Pashazade, Chairman of the Caucasus Muslims Board.

Congratulations continue to pour in.

Dear participants of the conference!

Ladies and gentlemen!

First of all, from the bottom of my heart, I sincerely congratulate you, my dear ones, on the opening of today's prestigious event - the joint conference of the International Textile Federation and the International Association of Apparel Manufacturers.

I would like to express my special gratitude to the President of the International Federation of Textile Manufacturers Mr. Kei Vi Srinavasan and President of the International Association of Apparel Manufacturers Mr. Chem Altan for the fact that this joint conference is being held in Uzbekistan for the first time.

At the same time, I express my sincere gratitude to the high-ranking representatives of the industry, heads of prestigious international and regional organizations participating in this conference.

Welcome to the pearl of the ancient Great Silk Road, the land of craftsmen - the majestic city of Samarkand!

Dear participants of the conference!

In recent years we have taken decisive steps to radically improve the investment and business environment, create favorable conditions for foreign and domestic investors.

As in all spheres and sectors, we have been implementing large-scale reforms in the textile and garment industries.

First of all, the state monopoly in cotton cultivation has been abolished, and a cluster system has been created and is being consistently improved, covering the entire process from raw material procurement to the production of finished goods.

Our reforms in this area have won the recognition of prestigious international organizations, and the boycott of Uzbek cotton has been lifted. Our cooperation with the international coalition “Cotton Campaign” continues in this direction.

At the same time, as a result of creating a stable legislative framework, improving the investment environment and introducing new technologies, the volume of cotton fiber processing increased from 40 percent in 2017 to 100 percent. At the same time, the work on import of cotton raw materials and production of finished products with high added value began.

Thanks to the opportunities created in the sphere, the volume of textile production has increased 5 times, its export - 4 times.

The most important thing is that earlier a significant part, i.e. 70 percent of exports in the sector, was accounted for raw materials, while today 60 percent of exported goods are finished products.

In the first years of reforms, we identified as a priority task the development of human capital, training of the population, especially young people and women, in professions, training of qualified personnel for all sectors, and these issues will continue to be in the center of our attention.

Decent working conditions that meet international requirements are created for the employees of enterprises, and the “Better Work” and “Better Cotton” programs are systematically implemented.

Particular attention is paid to ensuring labor rights and providing full support to over 600,000 workers.

At the same time, decisive measures are taken to create national brands, attract prestigious international and foreign trademarks to our country.

Authoritative participants of the world market, such as “Teamdress” (Germany), “Cotonella” (Italy), “Indorama” (Singapore), “Posco International” and “Gwangyang” (South Korea) are effectively operating in the country.

Uzbekistan's textile industry is being actively integrated into global production processes, and the number of our reliable partners on all continents of the world is increasing.

It should be noted that long-term cooperation with foreign investors and international brands, increasing production of high value-added products, bringing national brands to the international level will remain our priorities in the textile industry in the future.

I am convinced that today's conference will serve as an effective platform for further strengthening and expanding cooperation in this area on an international scale, sharing best practices and ideas.

I hope it will contribute to further expansion of mutually beneficial cooperation between representatives of more than 500 national and international organizations, manufacturers and retailers participating in the conference, and will bring the development of the industry to a qualitatively new level.

We highly appreciate and support all mutually beneficial initiatives of our foreign partners. In particular, we are ready to provide all possible assistance in introducing the necessary standards for international brands to enter Uzbekistan.

We are ready to create all necessary conditions for prestigious international organizations to regularly hold conferences, exhibitions and fashion shows in our country, particularly in such cities as Bukhara, Khiva, Shakhrisabz, Margilan, Kokand, Namangan, Andijan, which have high tourism and industrial potential.

I am confident that the ancient history, rich cultural heritage of our country, meetings with our hard-working and generous people will make an indelible impression on you, and the huge socio-economic potential of our regions will encourage investors to implement new projects.

I congratulate you once again on the opening of the prestigious conference that is starting today and wish you all good health, happiness and prosperity, success in the fruitful work of the conference.


Shavkat Mirziyoyev,

President of the Republic of Uzbekistan

The development of trade and economic cooperation between Uzbekistan and Belarus, expansion of bilateral trade, enhancement of export potential, and strengthening of investment ties remain among the key priorities of economic relations between the two countries. Consistent efforts undertaken in this direction are contributing to the diversification of export markets, improvement of logistics chains, and expansion of cooperation between the business communities of both nations.

Against this backdrop, the Belagro–2026 International Agricultural Exhibition and Fair, one of the largest international events in the agricultural sector, was held in Minsk, Republic of Belarus, from 1 to 6 June 2026. An official delegation of the Republic of Uzbekistan participated in the exhibition, holding a series of meetings and negotiations focused on expanding trade and economic cooperation, increasing exports, strengthening investment partnerships, and implementing joint projects in the agricultural sector.

Within the framework of the exhibition, the National Pavilion of Uzbekistan, organized by UZAGROSTAR HOLDING, showcased a wide range of agricultural and food products produced in Uzbekistan. The pavilion was visited by Rahmatulla Nazarov, Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the Republic of Belarus; Yuriy Shuleyko, Deputy Prime Minister of the Republic of Belarus; and Aleksandr Yakovchis, Deputy Minister of Agriculture and Food of the Republic of Belarus. During the visit, the parties discussed the quality and export potential of Uzbek agricultural products, as well as their prospects in the Belarusian market.

The exhibition also served as a platform for meetings with leading Belarusian retail chains, importing companies, and wholesale market operators. Discussions focused on establishing systematic supplies of Uzbek agricultural products to Belarus, expanding the range of exported goods, increasing bilateral trade volumes, and strengthening direct cooperation between Uzbek exporters and Belarusian importers.

In particular, meetings with the management of the Noviy Lebyajiy wholesale market in the Minsk district explored opportunities for exporting fresh fruits, vegetables, and processed agricultural products under long-term contracts, establishing sustainable B2B partnerships, and creating dedicated trading areas for Uzbek producers.

Special attention was also devoted to cooperation in the livestock sector. Following negotiations with the Belarusian organization Belplemjivobyedineniye, a cooperation agreement was signed to supply high-yield pedigree cattle to entrepreneurs in the Samarkand region of Uzbekistan. The agreement represents a practical continuation of ongoing efforts aimed at improving breeding programs and increasing livestock productivity.

Furthermore, the delegation visited the Ozerco-Logistik trade and logistics center in the Minsk district to study Belarus's experience in developing logistics and customs infrastructure. The visit provided valuable insights into international cargo storage and redistribution, digital logistics systems, and customs clearance procedures, creating new opportunities for exchanging best practices in export logistics.

In the area of investment cooperation, a meeting with the leadership of the Mogilev Regional Executive Committee resulted in the signing of a Memorandum of Understanding between MARAQAND MEAT LLC of Uzbekistan and the Mogilev Regional Executive Committee on establishing a modern livestock production complex in Belarus. The memorandum establishes a legal framework for expanding bilateral investment cooperation and implementing joint projects in the agro-industrial sector.

The Uzbek delegation also visited advanced agricultural enterprises in the Vitebsk region, where they exchanged experience on the development of intensive livestock farming, efficient farm management, strengthening the feed base, introducing digital agricultural technologies, and implementing joint investment projects.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Dunyo IA

The Business Activity Index (BAI), estimated by the Center for Economic Research and Reforms, reached 1124 points in February 2026, increasing by 12.4% compared with the previous month (and by 24.2% compared with the same period last year, Chart No.1).

In February of the current year, the following changes were observed across the BAI components:

• the component reflecting the number of transactions on business entities’ bank accounts increased by 22%;
• the intensity of raw material purchases on the commodity exchange rose by 10.6%;
• the component reflecting active business entities increased by 0.9%;
• the trademark component grew by 9.4%.

In February 2026, the BAI also increased in 13 regions compared with the previous month (Chart No.2).

In particular, notable growth was observed in Andijan region (44.8%), Syrdarya region (41.7%), Tashkent region (33.3%), and Kashkadarya region (28.2%).

At the same time, in the Republic of Karakalpakstan the indicator slightly declined by 0.5%, remaining at a moderate level.

Banking operations

During the reporting period, the number of interbank payment transactions reached 6,760.3 thousand, increasing by 1,220.5 thousand transactions (22%) compared with January 2026.

An increase in interbank payment operations was recorded in 12 regions. In particular, a significant rise in banking operations between legal entities compared with the previous month was observed in Tashkent city (24.1%), Surkhandarya region (23.3%), Samarkand region (21.4%), and Navoi region (17.7%).

At the same time, this indicator declined in Syrdarya region (8.1%) and the Republic of Karakalpakstan (1.6%).

Exchange component

In February of the current year, the exchange component of the BAI reached 1.1058 points, increasing by 10.6% compared with the previous month.

This reflected a 36.2% increase in the number of transactions concluded, while the average volume of goods purchased per transaction declined by 15.1%.

The total turnover of goods traded on the UzEx amounted to 6,296 billion soums in February 2026, which is 6.5% higher than in the previous month.

Component of active business entities

During the reporting period, this component amounted to 1.0088 points, increasing by 0.9% compared with the previous month.

At the same time, the total number of operating business entities increased by 4,079 units, reaching 508.5 thousand.

The number of large enterprises increased by 51 units, reaching 4,161.
The number of small enterprises rose by 3.9 thousand, reaching 415.1 thousand.
The number of farms increased by 36, reaching 89.2 thousand.

Trademark component

In February 2026, the trademark component reached 1.0641 points, increasing by 9.4% compared with the previous month.

During this period, 430 trademarks and product names were registered by legal entities.

Islombek Saparmatov, CERR

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

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

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

The resilience of Finland’s development model and the dynamism of Uzbekistan’s reforms provide a solid foundation for deepening bilateral cooperation. Finland combines technological leadership, efficient governance, and a robust social policy. Its mixed model of development with strong public regulation and an active private sector is based on long-term planning, technological excellence, and social equality.
A balanced economic policy keeps inflation at 2–3%, while maintaining a high AA+ credit rating. The national research infrastructure is funded as a key element of state strategy. Total spending on research and development exceeds 3% of GDP, reaching €8.4 billion in 2023, up 6.3% from the previous year. The contributions came from the public sector, universities, and private business.
Finland’s economy remains open and export-oriented. In 2024, foreign trade reached €146.5 billion, including €72.2 billion in exports and €74.3 billion in imports. Its technological specialization, advanced digital environment, and high human capital create a predictable setting for investors.
At the same time, Uzbekistan has become a driver of reform in Central Asia over the past eight years. The country’s GDP has doubled to reach $115 billion. Since 2017, fixed capital investments have totaled $240 billion, with over $130 billion coming from foreign sources. International reserves exceed $48 billion. The structure of production has evolved: the share of industry rose from 20% to 26%, services from 44% to 47%, and labor productivity increased by 45%. Regulatory reforms expanded the space for private capital, while transport and energy infrastructure projects established a new foundation for industrialization and export growth.
As a result of these reforms, Uzbekistan’s trade with the European Union has entered a stable growth trajectory. Between 2017 and 2024, trade turnover between Uzbekistan and the EU increased 2.4 times from $2.6 billion to $6.4 billion. In 2024, exports rose by nearly 27% compared to 2023, while imports remained at a comparable level.
A New Stage of Political and Economic Relations
Particularly strong momentum has emerged in Uzbek–Finnish relations. Regular high-level contacts have given fresh impetus to the bilateral dialogue. On 12 November 2024, on the sidelines of the COP29 Summit in Baku, President of Uzbekistan Shavkat Mirziyoyev met with President of Finland Alexander Stubb. The two leaders discussed prospects for cooperation in the fields of the green economy, renewable energy, innovation, and education, and exchanged views on sustainable development and climate policy.
The political dialogue continued with a telephone conversation on 9 September 2025, during which the heads of state explored ways to expand economic and humanitarian cooperation. Furthermore, an official visit of the President of Finland to Uzbekistan is expected in late October 2025, aimed at consolidating earlier agreements and opening new areas of partnership.
This process is creating a favorable foundation for strengthening trade and economic ties, introducing Finnish technologies, and attracting investment into Uzbekistan’s priority sectors. From 2019 to 2024, bilateral trade more than tripled to reach $152 million. Uzbekistan’s exports to Finland increased almost 17 times to $4.73 million, while imports from Finland nearly tripled to $147 million. Over the past year alone, Uzbek exports to Finland grew by 56%, and imports rose 3.2 times. From January to August 2025, trade volume exceeded $68 million.
Trade flows reflect each country’s comparative advantages: Uzbekistan supplies industrial goods and services, while Finland exports machinery, transport equipment, chemicals, and food products.
Prospects for Cooperation
The emerging agenda for trade and economic cooperation draws on Finland’s experience in engineering, clean technologies, digital healthcare, education, and R&D management – areas closely aligned with Uzbekistan’s goals for technological renewal, energy efficiency, and human capital development. At the same time, Uzbekistan’s favorable business climate and major infrastructure projects are reducing operational costs for foreign companies.
Given Uzbekistan’s development priorities and conducive investment conditions, there is significant potential to further deepen Uzbek–Finnish cooperation across several areas. According to the Center for Economic Research and Reforms, Uzbekistan’s exports to Finland could expand even in the short term, particularly in sectors where Uzbek producers have existing capacity and advantage – textiles and garments, fruits and nuts, footwear, leather goods, stone and cement products, as well as copper and semi-finished copper products.
Logistics could be organized through the ports of Helsinki and HaminaKotka, with Turku as a potential reserve. Distribution channels could be developed via major retail networks and distributors, including Kesko and S Group. Key success factors include certification under EU standards, stable supply chains, and regular contracts.
Industrial cooperation should move toward deeper processing with full production cycles, for example, in knitwear, wool, and leather, from spinning and dyeing to finished apparel. Potential partners include Finnish companies such as Lapuan Kankurit and Pirtin Kehräämö, as well as the Aalto University School of Arts, Design and Architecture. In agriculture, joint breeding programs using Finnish sheep lines and supported by LUKE (Natural Resources Institute Finland) could strengthen the raw-material base of Uzbekistan’s textile clusters.
In the digital and green transformation sphere, collaboration could extend to telecom infrastructure and critical systems management with companies such as Nokia. In energy, there is potential for cooperation in localizing components for solar installations and storage systems, developing smart grids, and improving generation efficiency in hot climates, with participation from Finnish firms Valoe, Fortum Solar, and Wärtsilä.
For research and materials science, engaging institutions such as VTT and LUT University would help build a sustainable technological and human-resource base in Uzbekistan, while opening new regional export niches.
In mechanical engineering, cooperation could develop with Metso and Valmet on equipment components, servicing, and partial localization. In logistics and cargo handling solutions, Finnish companies Konecranes and Cargotec offer relevant expertise. In climate monitoring and water-chemical solutions, potential partners include Vaisala and Kemira.
A cross-cutting priority remains human capital. Joint programs with the University of Helsinki, Tampere University, and University of Oulu are needed to establish industrial internships and introduce Finnish methods for training engineers, technologists, and quality specialists for high-tech industries.
At the institutional level, further progress will require harmonizing border procedures, launching green corridors, implementing digital customs systems, and ensuring mutual recognition of certificates. It will also be important to develop industrial and agro-processing clusters, logistics hubs, and training programs for workforce development.
In the near future, Uzbek–Finnish cooperation may reach a stable, long-term trajectory. For Finland, Uzbekistan represents a reliable supplier of manufactured goods and components, and a new market for technology and equipment. For Uzbekistan, deeper cooperation provides access to advanced solutions and Northern European distribution channels.
In conclusion, the combination of Finland’s effective governance model, innovation, and environmental responsibility with Uzbekistan’s large-scale reforms creates a strong foundation for joint practical projects in manufacturing, energy, telecommunications, and education. Such a partnership can not only enhance the technological level of Uzbekistan’s economy but also give new quality to Uzbek–Finnish relations – anchored in long-term, sustainable, and mutually beneficial development.

Afzal Artikov,
Chief researcher,
Center for Economic Research and
Reforms under the Administration
of the President of the Republic of Uzbekistan