Uzbekistan and Turkey are consistently developing bilateral and multilateral cooperation in the fields of ecology and environmental protection, paying special attention to the exchange of experience, the introduction of modern technologies, and the professional development of specialists.

Representatives of the National Committee for Ecology and Climate Change of the Republic of Uzbekistan regularly participate in seminars, training courses, and other events organized by international structures in the Republic of Turkey. Such cooperation formats serve to strengthen professional ties and adopt advanced approaches in the field of environmental management.

One of the significant stages of cooperation was a meeting with a delegation from "OSTIM Energik," a company specialized in clustering technologies in renewable energy and ecology under Turkey’s Middle East Industry and Trade Center (OSTIM). During the negotiations, the parties discussed prospects for cooperation on air purification systems, the construction of water treatment facilities, the development of renewable energy sources, as well as the processing of domestic and agricultural waste.

Within the framework of developing practical cooperation, a business trip was organized for a delegation from the State Center for Ecological Expertise under the Committee. The goal was to study advanced foreign experience in the field of Environmental Impact Assessment (EIA), including modern methods of ecological expertise and monitoring.

Additionally, a joint event was held in Tashkent with the participation of the Turkish company "Cengiz Group" regarding the reduction of the number of vehicles and the strengthening of environmental control over them. This initiative was aimed at reducing pollutant emissions and increasing environmental responsibility in the transport sector.

A distinct direction of cooperation is related to the development of scientific and educational ties. Partnerships have been established between the Turkish State Meteorological Service and the Hydrometeorology Research Institute of Uzbekistan, in collaboration with the Faculty of Ecology at Ege University in Izmir and the Central Asian University for the Study of Environment and Climate Change. This cooperation is directed towards retraining specialists and enhancing their professional skills in environmental protection and climate research.

The active cooperation between the two countries continues on international platforms as well. Within the framework of the climate forum held in Samarkand on the theme "Global Climate Challenges and Central Asia – Solidarity for Common Prosperity," a youth session was held with the participation of Turkish representatives. This constituted a significant contribution to shaping a new generation of environmental leaders.

The participation of the Ecology Committee delegation, led by Aziz Abduhakimov, Advisor to the President of the Republic of Uzbekistan on Environmental Issues and Chairman of the National Committee for Ecology and Climate Change, in the "Zero Waste" international forum organized by the "Zero Waste Foundation" in Istanbul was also a significant milestone. During the forum, global approaches to waste reduction, the development of a circular economy, and the introduction of sustainable consumption principles were discussed.

Furthermore, a delegation from the Forestry Agency under the Committee visited the Mugla province and the city of Antalya to study Turkey’s best practices in forestry, sustainable forest resource management, and the prevention of ecosystem degradation.

In conclusion, the cooperation between Uzbekistan and Turkey in the field of ecology and environmental protection is of a systemic and multifaceted nature, covering technological, scientific, educational, and institutional directions. The implementation of joint initiatives serves to introduce modern environmental solutions, increase the stability of natural ecosystems, and strengthen international partnership in the interests of sustainable development.

Makhmud Khaydarov,

Chief specialist Department of international cooperation and rankings of the Ministry of Ecology, Environmental Protection and Climate Change

In recent years, improving the living standards of the population and ensuring access to housing has become one of the top priorities of state policy in Uzbekistan. The reforms being implemented in this area go beyond simply increasing construction volumes — they are being carried out through a comprehensive approach closely linked to accelerating demographic growth and urbanization.

Demographic Factor and Growing Housing Demand

The high rates of demographic growth observed in the country require a fundamental review of housing policy. In recent years, the country’s population has been growing by nearly 800,000 people per year, and the number of new families by 250,000 — figures that demand a sharp acceleration of efforts to meet housing needs. To address this demand, the construction of 110,000 apartments for 2025 alone. By 2040, the goal is to double the number of housing units built annually to 421,000 and increase the mortgage loan portfolio to $56.7 billion.

Urbanization and the Shift to Integrated Construction (Vertical Growth)

Due to rapid population growth and limited land resources, the approach to urban expansion is changing. The approximately 40% of the country’s multi-apartment housing stock, currently made up of 2–3-story buildings, is being replaced by modern housing built on the principle of vertical growth, incorporating social infrastructure and green spaces.

Strict urbanization criteria have been established for the development of “New Uzbekistan” residential districts. In particular, new sites are selected based on the following criteria:

• The district must be located near the district (or city) center (within 2 km) and have existing infrastructure.
• At least 70,000 residents must live in the area.
• Construction of buildings covering at least 100,000 square meters and no fewer than 7 stories.

Institutional Reforms and Digitalization

To effectively manage urbanization and the housing market, the National Committee for the Sustainable Development of Urbanization and the Housing Market has been established. This committee coordinates urbanization processes, renovation programs, and the construction of “New Uzbekistan” districts. To prevent uncontrolled urban sprawl, plans are underway to designate 45 agglomeration zones across the country and launch the “Sustainable City” platform. Additionally, a unified digital urbanization platform called “Uy-joy” is being created to consolidate all urban planning processes, a land bank, and project data.

Environmental Sustainability and “Green” Standards

Environmental sustainability is a priority in the modern urbanization process. According to state programs, in “New Uzbekistan” districts, at least 2% of the cost of constructing multi-apartment housing must be allocated to creating green spaces around residential buildings. For large investment projects in Tashkent, it is mandatory that green spaces occupy at least 30% of the area. Housing and construction projects are evaluated and certified according to special “green” standards.

Social Protection and Financing (Mortgage Subsidies)

The acceleration of urbanization must not leave socially vulnerable segments of the population behind in the housing market. To this end, the mortgage subsidy system has been fully automated through the “subsidiya.idm.uz” platform. The system of providing state budget subsidies to cover down payments and interest has been expanded for low-income families, young people under 30, single women in difficult social circumstances, and official labor migrants.

In general, the reforms aimed at improving housing conditions in Uzbekistan are not simply about constructing new buildings — they represent a broad state policy directed at creating a modern urbanization environment that can withstand strong demographic growth, is ecologically clean, have infrastructure, and is comfortable for the population.

Historical Background

The history of Uzbek - Finnish relations dates back to the early 1990s, when Finland became one of the first countries to recognize the independence of the Republic of Uzbekistan - on 30 December 1991. Just two months later, on 26 February 1992, diplomatic relations were officially established, marking the beginning of a new chapter based on mutual respect, trust, and a shared commitment to technological progress.

The first high-level visits in 1992 laid the foundation for political dialogue. During that year, Uzbekistan took part in the signing ceremonies of the OSCE Helsinki Final Act and the Paris Charter. In October of the same year, Finnish President Mauno Koivisto paid an official visit to Tashkent, further consolidating the partnership. Since then, cooperation between the two countries has developed steadily across political and economic spheres.

Legal and Institutional Framework

Today, the legal framework governing Uzbek-Finnish relations comprises eight active documents, including two interstate and six intergovernmental agreements. These include the 1992 Agreements on Mutual Protection of Investments and on Trade, Economic, and Technological Cooperation, as well as treaties on air and road transport (1996 and 1997) and agreements on avoiding double taxation and on customs cooperation.

New initiatives reflecting the modern stage of partnership are under consideration - such as a draft agreement on visa exemption for holders of diplomatic passports, a memorandum on cooperation in environmental protection, and a protocol on consultations between the foreign ministries.

Cooperation Priorities: Technology, Ecology, and Innovation

Finland, recognized globally as a leader in innovation, sustainable development, and green technologies, serves as a valuable model for Uzbekistan in its transition toward a digital and energy-efficient economy.

In 2017, a business delegation of nine Finnish companies specializing in engineering, agribusiness, telecommunications, and logistics visited Uzbekistan to participate in the AgroWorld Uzbekistan international exhibition. This visit gave new impetus to direct business-to-business engagement.

In April 2019, Tashkent hosted a delegation led by Mikko Koiranen, Deputy State Secretary of Finland for Foreign Economic Relations. The delegation included 29 representatives from leading companies and organizations - such as Nokia Siemens Networks, ABB, Wärtsilä, Uponor Infra, Tikkurila, ISKU, and Airbus Defense and Space. Discussions focused on implementing Finnish technologies in Uzbekistan, joint energy and raw material processing projects, and opportunities in smart cities and water management.

Later, in November 2019, Antti Koskelainen from the Finnish export credit agency Finnvera visited Tashkent, marking an important step toward deeper financial and investment cooperation. Meetings with the Ministry of Investment, Industry and Trade, the Ministry of Finance, and the Agency for State Asset Management addressed mechanisms for crediting and insuring Finnish export operations in Uzbekistan.

Trade: A Threefold Growth in One Year

Economic cooperation between Uzbekistan and Finland continues to expand. The two countries enjoy Most-Favored-Nation trade status, and regular meetings of the Joint Intergovernmental Commission on Trade, Economic, and Scientific-Technical Cooperation (five sessions to date, the latest held in Tashkent in February 2023) ensure a dynamic dialogue.

Trade turnover has shown remarkable growth in recent years: from USD 48.45 million in 2020 to USD 151.7 million in 2024 - an increase of over threefold. This upward trend reflects intensified business ties and growing interest among Finnish companies in the Uzbek market.

Investment and Business Cooperation

Finland is viewed in Uzbekistan not only as a trading partner but also as a source of innovation and investment. Currently, 14 enterprises with Finnish capital operate in Uzbekistan - four joint ventures and ten with 100% foreign ownership - active in sectors such as electronics, software, energy, agriculture, food processing, chemicals, and telecommunications equipment.

Finnish businesses are showing strong interest in renewable energy, waste recycling, eco-construction, water management, and sustainable agriculture. Uzbekistan, in turn, offers attractive conditions for investors - tax incentives, developed industrial infrastructure, and access to a 75-million-strong Central Asian market.

Finland’s Economic Potential: Opportunities for Partnership

Finland is one of Europe’s most advanced and innovative economies, known for its high living standards, sound macroeconomics, and strong industrial base. In 2024, its GDP exceeded USD 320 billion, with GDP per capita around USD 58,000. The economy is well-balanced, with services accounting for over 70%, industry 27%, and agriculture 2.5%. Inflation remains one of the lowest in Europe - around 3% - ensuring a stable and predictable business environment.

For Uzbekistan, cooperation with Finland opens wide-ranging opportunities for industrial, investment, and technological partnership, including:

• Energy: joint projects in renewable energy, smart grids, and energy storage; development of solar panel and wind equipment manufacturing.
• Water and Environment: Finnish expertise in water purification, waste processing, and efficient water management, particularly relevant for agriculture and urban infrastructure.
• Engineering and Electronics: creation of joint ventures in industrial equipment, automation systems, and telecommunications.
• Construction and Green Materials: Finnish participation in energy-efficient building projects, production of eco-friendly insulation and finishing materials, and smart home systems.
• Education and Science: joint engineering and IT education programs, establishment of research laboratories, and introduction of dual education models based on Finnish experience.
• Agro-Industry: cooperation in precision farming, agricultural digitalization, and production of eco-friendly export-oriented goods.

Finland’s experience in sustainable development and digital transformation makes it a strategic partner for Uzbekistan’s “green economy” agenda and industrial modernization. At the same time, Uzbekistan - with its abundant natural resources, young workforce, and expanding domestic market - offers Finnish companies favorable conditions for localization and regional expansion.

A Look Ahead

The partnership between Uzbekistan and Finland goes beyond traditional economic cooperation. It stands as an example of how innovation and sustainability can form the foundation of long-term, mutually beneficial relations. Joint projects in digitalization, green energy, and education are paving new avenues for the exchange of expertise, technologies, and investments.

Finland regards Uzbekistan as a reliable partner in Central Asia, while Uzbekistan views Finland as a strategic ally in advancing its “smart growth” model and building a knowledge-based economy.

The synergy between Finland’s pragmatic northern experience and Uzbekistan’s dynamic eastern development creates a powerful foundation for further strengthening bilateral relations - grounded in trust, innovation, and mutual respect.

The first quarter proved highly favorable for Uzbekistan’s economy. Economic growth reached 8.7%, inflation fell to its lowest level in recent years, investment hit a record high, and exports continued to expand steadily.

Economic Growth Dynamics

The pace of economic growth achieved by Uzbekistan in the first quarter exceeded the expectations of international institutions. The Asian Development Bank had projected 6.7% growth for the first quarter. The World Bank initially forecast 6.0%, but revised it upward to 6.4% in April. The IMF also raised its forecast in April from 6.2% to 6.8%.

In practice, Uzbekistan’s economy grew by 8.7%. GDP in current prices amounted to $36.9 bn. The forecast closest to the actual result came from the Center for Economic Research and Reforms (Uzbekistan), which projected first-quarter growth of up to 7% at the beginning of the year.

The strongest growth was recorded in construction, where gross value added increased by 15.0%. The services sector expanded by 8.8%, retaining its position as the largest segment of the economy. Industry grew by 8.0%, while agriculture increased by 5.1%.

Significant gains were also seen in oil refining, up 29.5%. In light industry, apparel and textile production rose by 15.3%, while knitwear output increased by 26.9%. In automotive manufacturing, production expanded by 12.5%, including buses by 64.7% and trucks by 46.6%. Within services, the highest growth rates were recorded in education, up 22.5%, and financial services, up 22.4%.

An important contribution to overall growth also came from measures aimed at reducing the shadow economy. Its share declined from 24.8% to 22.9%, while legalized business activity supported higher recorded growth figures.

Another major factor behind accelerated growth has been the country’s active market reforms, which were recognized this year in the Index of Economic Freedom, where Uzbekistan rose by 14 positions and entered the category of moderately free economies for the first time.

Overcoming Inflationary Challenges

External pressures continue to affect domestic price formation. Global oil prices have risen by 40% since the beginning of the year. Geopolitical tensions have disrupted logistics corridors, increasing transportation costs for trade flows by 25–30%. As a result of these disruptions, imports of cattle into Uzbekistan fell by half in the first quarter, creating risks for food security.

To stabilize food prices, the government introduced partial reimbursement of air freight costs for imports of breeding livestock and meat products. It also approved the import of 100,000 breeding sheep and goats from Mongolia with compensation of 50% of transport costs.

Since the beginning of the year, Uzbekistan has actively implemented a new system of inflation management and price stability. For all responsible officials and regional governors, the key task for 2026 has been defined as maintaining stable prices for essential food products and keeping annual inflation below 6.5%.

As a result of these measures, despite external pressures, the inflation environment improved significantly in the first quarter. Consumer prices rose by 1.93% in January–March. In March alone, monthly inflation stood at 0.6%, while annual inflation fell to 7.1% for the first time, compared with 10.34% a year earlier.

Budget Policy and Regional Development

Thanks to such dynamic economic growth, Uzbekistan’s State Budget revenues also increased steadily in the first quarter, rising by 35% year-on-year. Tax revenues grew by 24%, while customs revenues increased by 20% compared with the same period last year.

Funds retained by local budgets rose by 21%. In addition, land sales and privatization processes generated an extra $47.1 mn for local budgets. At the same time, $90.6 mn were transferred from the republican budget to local budgets to support the regions. As a result, district-level local budgets retained $115.3 mn, nearly 4.2 times more than the $28.5 mn recorded in the same period last year.

This demonstrates the continued and consistent policy course toward expanding the financial autonomy of the regions, helping unlock local potential and support dynamic regional development.

Investment Outlook

Investment activity in Uzbekistan reached a record level in the first quarter. Capital investment and development projects totaled $12.85 bn, up 41.5%. Foreign direct investment increased by 45.7% to $8.84 bn. During the quarter, 1,508 new projects worth $1.185 bn were launched, creating around 28,000 new jobs.

In the first quarter, investment volumes exceeded $50 mn in 50 cities and districts, while in 21 of them the figure surpassed $100 mn, indicating broader regional investment activity. By source of foreign investment, China ranked first with $6.4 bn, followed by Russia with $1.1 bn, Türkiye with $975 mn, the UAE with $824 mn, and Germany with $342 mn.

Overall, in 2026 Uzbekistan plans to implement 125 projects with the participation of international financial institutions and foreign state financial organizations, attracting $5.1 bn. In the first quarter alone, $947 mn in foreign loans had already been mobilized from these sources, exceeding forecast targets by 120%. These projects have already delivered tangible results in infrastructure development and improved living standards.

The next important step in attracting investment may be the listing of state assets on international markets. Speaking at the meeting, the President announced that 30% of state assets worth $2.4 bn would soon be placed on international stock exchanges for the first time. This is linked to the establishment of the National Investment Fund and the transfer of management of 13 strategic enterprises to Franklin Templeton.

The country’s overall target for this year is to attract $53 bn in foreign investment. Officials were also instructed to introduce an AI-based platform that would provide optimal project recommendations for specific regions. Investors and consulting companies will be granted access to the platform through a one-stop-shop mechanism.

Growing Export Potential

Total exports of goods and services maintained strong growth momentum in the first quarter, reaching $5.8 bn, up 26% year-on-year, or by $1.2 bn. Export growth was recorded in 147 districts and cities across the country. As a result, the total number of exporting enterprises reached 4,000.

In particular, exports of natural uranium amounted to $402.6 mn, up 95%. Exports of non-ferrous metals reached $248.7 mn, doubling year-on-year. Oil and gas exports totaled $160 mn, up 15%.

Positive dynamics were also observed in manufacturing. Textile exports reached $731 mn, up 18%. Exports of construction materials totaled $304 mn, rising by 75%. Jewelry exports reached $214 mn, up 54%.

Agricultural and food exports also posted solid growth. Fruit and vegetable exports reached $320 mn, up 12%. Food exports totaled $282 mn, surging by 120%. Strong momentum was also seen in services, where exports reached $2.2 bn, up 35% year-on-year, or by $573 mn.

The geography of exports continues to expand. In January–March, previously non-exported goods worth $162 mn across more than 140 product categories were supplied for the first time to 86 countries, including the United States, Austria, Belarus, Poland, South Korea, Iran, Kazakhstan, and Afghanistan.

Despite these achievements, external market challenges continue to affect exporters. The President noted that over the past six months, due to changing conditions among foreign partners, 908 entrepreneurs with signed contracts worth $3.6 bn had still been unable to begin exports.

Support for Entrepreneurship

Active support for small and medium-sized businesses continued in the first quarter. This year, $11.5 bn is being allocated through banks for this purpose. In the first quarter, entrepreneurs received $2.9 bn in credit resources, including $659 mn under state support programs. A total of 21,000 microprojects were implemented, helping raise incomes for 52,000 residents.

At the same time, certain shortcomings remain. Not all districts and cities are equally effective in converting loans into permanent jobs, and the differences are considerable. To address this issue, the President emphasized the need to use AI tools in credit allocation and instructed banks to launch an “AI Consultant” platform.

The meeting also discussed optimization of government administrations and the creation of new business spaces. Since many central and busy streets in district centers are occupied by state institutions, 19 districts and cities have already begun relocating government offices into unified administrative centers, with vacated premises transferred to businesses. Scaling up these measures nationwide would free up 5 mn m2 of space for business activity.

Social Policy

A strong social policy and active measures to reduce poverty and promote employment continued in the first quarter.

Permanent jobs were provided to 167,000 people, while 737,000 citizens received assistance in creating additional income sources and improving their living standards. An important contribution came from formalizing 241,000 previously informal workers, giving them access to social protection, financial services, and stable employment.

Special attention in social policy is being given to low-income families. A total of 105,000 support services were delivered to 86,000 vulnerable families, including employment assistance, training, business start-up support, and income generation. Under women’s support programs, 26,000 women were employed, while youth support programs benefited 58,000 young citizens.

To accelerate development in territories facing difficult socio-economic conditions, $297 mn were allocated from the republican budget. Additional support of $329 mn was also directed to areas granted the status of “New Image of Uzbekistan.”

These policies continue to contribute to lower poverty and higher living standards. Poverty fell to 5.0% in the first quarter, while unemployment stood at 4.7%. According to forecasts, both indicators may decline further to 4.3% by mid-year.

Significant attention is also being paid to social infrastructure and improving living conditions with the active participation of international financial institutions. In the first quarter, 89 km of drinking water networks, 8.2 km of sewerage networks, and 40 km of roads were built.

These measures are creating a sustainable foundation for further poverty reduction, stronger employment, higher welfare, and better living conditions across all regions of Uzbekistan.

Perspectives

It is useful to compare Uzbekistan’s first-quarter growth performance with the global economy and other countries.

In its April forecast, the IMF lowered projected global growth from 3.3% in January to 3.1% in April. Growth in advanced economies is expected at 1.5–1.6%, while developing economies are projected at above 4%. US growth is forecast at 2.0–2.1%, while Europe is expected to remain the weakest region, with UK growth revised downward to 0.8%.

The IMF identified India as the fastest-growing major economy, with projected growth of 7.3%. Yet Uzbekistan’s first-quarter growth exceeded even that figure, reaching 8.7%. This reflects the soundness and effectiveness of ongoing reforms, as well as strong and responsive economic management, where emerging challenges are addressed without delay.

Uzbekistan is expected to maintain high growth momentum in 2026. Real GDP growth is projected in the range of 8.3–8.7%, with services rising by 9.1%, industry by 8.7%, and construction by 11.5%.

At the same time, despite these positive results, the President noted that there is no room for complacency. Against the backdrop of intensifying global rivalry, the world economy will no longer be as stable as before. This requires special focus in the current year on sustaining growth, containing inflation, creating jobs, expanding exports, and improving the quality of investment.

Khurshed Asadov, Deputy Director of the Center for Economic Research and Reforms under the Administration of the President of the Republic of Uzbekistan

Хуршед Асадов, ЦЭИР

Samarkand Forum of the Asian Development Bank
In the Context of Contemporary Challenges and Historical Significance

In early May, Samarkand hosted the 59th Annual Meeting of the Board of Governors of the Asian Development Bank under the theme “Crossroads of Progress: Advancing the Region’s Connected Future.” The President of the Republic of Uzbekistan, Shavkat Mirziyoyev, outlined key priorities for further cooperation with the ADB.

The forum brought together more than 4,000 experts from over 100 countries, including representatives of foreign governments, international financial institutions, leading banks, and major corporations. The central topics of discussion included digital and green transformation, climate resilience, supply chain development, and food security.

Uzbekistan and the Asian Development Bank: Effective Partnership

Uzbekistan joined the ADB in 1995. Over the past 30 years, the Bank has become a reliable strategic partner for the country. The current portfolio of joint projects has reached nearly $16 billion. Uzbekistan has become the Bank’s largest partner in the region by operational volume and ranks among the top 10 countries globally in terms of ADB operations.

In August 2024, the ADB launched a new Country Partnership Strategy for Uzbekistan for 2024–2028. This five-year strategy focuses on supporting the transition to a green economy, enhancing private sector development and competitiveness, and stimulating investment in human capital, in line with the national development priorities outlined in the “Uzbekistan–2030” strategy.

ADB financing across sectors is distributed as follows: transport – $3.1 billion; energy – $2.9 billion; water supply, sanitation, and urban services – $1.4 billion; agriculture and water resources – $0.9 billion.

Through effective cooperation with the ADB, more than 1,400 km of railway lines and 1,700 km of roads have been modernized. Over 4,000 km of water supply networks have been completed, and around 750 educational institutions have been upgraded. In 2025, a record annual commitment volume exceeding $1.4 billion was achieved.

New Cooperation Program with Uzbekistan

During the Samarkand forum, a new partnership program between Uzbekistan and the ADB through 2030 was adopted. It envisages the implementation of projects totaling $12.5 billion, including infrastructure development, support for reforms, private sector growth, and public-private partnerships.

Key components include: infrastructure financing – $2.6 billion; results-based lending – $2.2 billion; budget support for reforms – $3.3 billion; multitranche financing facilities – $350 million; partial credit guarantees – $250 million; direct private sector financing – $2 billion; PPP projects – $1.7 billion.

Priority Areas Outlined by the President

In his address, the President of Uzbekistan emphasized the need to introduce new mechanisms and approaches for sustainable development amid global economic challenges and rapid technological change.

First, digital technologies and artificial intelligence are transforming virtually all sectors. By 2040, AI is expected to increase global trade volumes by an additional 40%. The adoption of open AI models is therefore essential in key sectors such as education, healthcare, water management, environmental protection, and food security. Uzbekistan proposed developing a dedicated ADB-led program to scale AI adoption in developing countries and announced its accession to the Bank’s “Digital Highway for Asia” initiative, including the establishment of a regional coordination center in Tashkent.

Second, the expansion of digital technologies and AI is driving a sharp increase in energy demand. By 2030, electricity consumption by data centers is projected to rise by 2–3 times compared to current levels. Only countries capable of providing affordable and reliable green energy will remain competitive globally. Uzbekistan identified green energy development as a strategic priority and acknowledged ADB support for the “Central Asia–Europe” green energy corridor aimed at expanding clean energy exports.

Third, ensuring the connectivity of transport systems and the stability of logistics corridors is becoming increasingly critical. Changes in global logistics routes have already led to transport cost increases of up to 30% for Central Asian countries, with delivery times extended by several weeks. In this context, the China–Kyrgyzstan–Uzbekistan railway project is of particular importance. Uzbekistan proposed establishing a “Digital Customs and Logistics Alliance” within the CAREC framework.

Fourth, according to international experts, demand for critical minerals will increase sixfold by 2040. Uzbekistan possesses significant reserves of copper, tungsten, molybdenum, magnesium, graphite, vanadium, titanium, and other resources. To ensure deep processing and production of high value-added goods, Uzbekistan proposed joining the ADB’s “From Critical Minerals to Production” program.

Fifth, climate change and desertification pose serious challenges to Central Asia. The ADB is implementing its Climate Action Plan through 2030, allocating at least 50% of its annual financing to climate-related projects. Uzbekistan proposed launching a regional “Green Belt of Central Asia” initiative to complement national afforestation efforts in the Aral Sea region.

Sixth, amid global instability, demand for safe travel destinations is growing. Central Asia has strong potential in pilgrimage, cultural, gastronomic, ethnographic, extreme, and medical tourism. Uzbekistan proposed creating a “Central Asia Tourist Ring” to integrate regional tourism offerings.

To advance these initiatives, Uzbekistan aims to fully utilize ADB financial instruments, including mobilizing private capital, and proposed establishing an Innovative Platform for Financing Regional Projects.

Transformation of ADB Operations

The implementation of these initiatives requires a transformation of the ADB’s institutional model. In response to global economic shifts, rapid technological change, and increasing interdependence, the Bank is shifting its focus toward sustainability, regional integration, and future-oriented infrastructure.

A key direction is the expansion of investments in next-generation infrastructure, including cross-border energy networks, electricity trade, and digital infrastructure such as internet connectivity and data transmission networks.

Another major shift is the transition from financing predominantly national projects to prioritizing regional systems. This includes integrating energy systems, developing regional electricity markets, and advancing digital integration across Asia.

These priorities are reflected in two major initiatives announced at the Samarkand forum, totaling $70 billion through 2035, aimed at energy system integration, cross-border electricity trade, digital corridors, data centers, and broadband expansion across Asia and the Pacific.

A significant announcement was also the launch of the “Critical Minerals-to-Manufacturing Financing Partnership Facility,” covering the full value chain from exploration and resource mapping to the production of final goods, including chemicals, batteries, renewable energy components, electronics, as well as recycling and reuse.

For Uzbekistan, this approach is particularly relevant, as the country is already developing value chains based on its mineral resources. The ADB program is expected to accelerate this process significantly.

Overall, the transformation of the ADB reflects a shift toward supporting systemic resilience and regional markets. This includes three key transitions: from individual projects to integrated economic systems; from national to regional focus; and from development support to long-term economic sustainability.

As a result, the ADB is evolving from a project financing institution into a coordinating platform for regional economic connectivity, strengthening its role in Asia’s integration amid the formation of competing global economic blocs.

Conclusion

The 59th Annual Meeting of the ADB Board of Governors in Samarkand was of significant importance not only for Uzbekistan due to its international prestige and the adoption of a new cooperation program, but also for the entire Asia-Pacific region.

The forum marked the launch of two major initiatives and the new “From Critical Minerals to Production” program, reflecting the Bank’s updated strategy aimed at enhancing economic stability and regional consolidation in Asia.

Holding the forum in Samarkand is symbolic. Historically a crossroads of trade and culture between East and West, the city once again serves as a focal point for shaping the region’s future.

It was here that initiatives and decisions were announced that may influence the development trajectory of all Asia, reinforcing Samarkand’s role as a platform for dialogue and strategic vision.

Viktor Abaturov,
Center for Economic Research and Reforms

Over the past five years, the Organization of Turkic States (OTS) has undergone a qualitative transformation, evolving into an effective mechanism for interregional cooperation.

The stability and effectiveness of this format are largely determined by the degree of development of its institutional architecture. Within the OTS, this architecture features a multi-tiered structure, comprising the Council of Heads of State, the Council of Ministers of Foreign Affairs, the Committee of Senior Officials, the Council of Elders and the Secretariat of the organization.

A powerful impetus to the development of the association was provided by the adoption in 2021 of the “Turkic Vision – 2040” strategy, which became the conceptual foundation for the formulation of sectoral roadmaps, action plans, and a system of long-term milestones. The implementation of this strategy has manifested most visibly in the areas of transport digitalization, customs procedures, investment cooperation, and educational exchange.

Special attention should be paid to the activities of the Parliamentary Assembly of Turkic States (TURKPA), within the framework of which efforts have intensified to harmonize legislative approaches in the fields of trade, transport regulation and humanitarian cooperation.

A significant impetus to the development of the OTS was provided by the active engagement of Uzbekistan in the organization's work. In the subsequent period, Tashkent became one of the key drivers in modernizing the OTS agenda. At the initiative of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, the promotion of projects in transport connectivity, industrial cooperation, digital transformation, and investment collaboration intensified. It is with the invigoration of Uzbek participation that many experts associate the organization's transition from a declarative stage to a phase of practical institutionalization.

The 2022 Samarkand Summit provided an additional symbolic and political impetus, during which decisions were made to establish the Turkic Investment Fund and institutionally expand the economic agenda. This stage solidified the evolution of the OTS toward forming a fully-fledged geo-economic space while preserving its cultural and historical foundation.

Concurrently, economic cooperation is steadily establishing itself as a key pillar of the OTS development. The combined demographic potential of the organization is estimated at approximately 178 million people, a significant portion of whom comprise a young, able-bodied population. The nominal GDP of the member states exceeds USD 1.8–1.9 trillion, while their total foreign trade turnover surpasses USD 1.1 trillion.

In recent years, interregional trade has demonstrated steady positive dynamics. According to estimates by the OTS Secretariat, mutual trade turnover among member states reached USD 22–23 billion, nearly doubling compared to the figures at the beginning of the decade.

Uzbekistan plays a notable role in this process. By the end of 2025, the Republic's trade volume with OTS countries exceeded USD 9 billion, whereas in 2019, this figure stood at approximately USD 4.2 billion. Thus, over a six-year period, the trade turnover has practically doubled.

A prime example is the Uzbek-Turkish industrial cooperation. The number of enterprises with Turkish capital participation in Uzbekistan has surpassed 2,000, while the total volume of joint investment projects is estimated at over USD 5 billion. A significant share of these projects is concentrated in the textile industry, building materials manufacturing, electrical engineering, and the food industry.

The specific significance of this interstate association is driven by its geo-economic location. The member states of the organization are situated at the strategic intersection of transport arteries linking East Asia, the South Caucasus, the Middle East and Europe.

Its central element is the Middle Corridor, which connects China, Central Asia, the Caspian region, the South Caucasus, Türkiye and onwards to European markets. Over the past three years, the route has demonstrated steady cargo traffic growth. By the end of 2025, shipment volumes along the corridor exceeded 4.5 million tons, whereas in 2021, they stood at less than 1 million tons.

A key driver of this growth has been the comprehensive modernization of port infrastructure. For instance, following its reconstruction, the Baku International Sea Trade Port now possesses the capacity to handle up to 15 million tons of cargo annually, including up to 100,000 containers, with future expansion potential reaching 25 million tons.

The acceleration of delivery timelines is of equally vital importance. While cargo transportation from China to Europe along this route previously required 40–50 days, the digitalization of document flows (e-CMR), the unification of pre-arrival customs declaration procedures, and infrastructure modernization have successfully reduced this timeframe to 18–23 days.

The creation of a trans-regional "green energy corridor" is emerging as a highly promising avenue of cooperation, envisaging the export of electricity generated from renewable sources in Central Asia and the South Caucasus toward Europe. Azerbaijan, Kazakhstan and Uzbekistan have intensified their coordination regarding the synchronization and construction of the necessary power transmission infrastructure.

At the same time, in the context of accelerating global digitalization, technological development is acquiring not only economic but also strategic importance, forming the foundation for enhancing the efficiency of interstate cooperation, modernizing industry, and strengthening infrastructural connectivity.

The combined volume of the digital economy of the member states already exceeds $110 billion, while the average annual growth rate of the sector in a number of countries stands at 12–18%, which is significantly higher than the global growth rates of traditional industry.

The strengthening of the OTS digital development track was reflected in the agenda of the informal summit held on May 15, 2026, in Turkistan, where artificial intelligence and digital development served as the central theme. This highlighted the organization's transition toward treating technological transformation as a high-priority area of strategic cooperation.

Uzbekistan is likewise demonstrating accelerated digital modernization. By the end of 2025, the country's export of IT services exceeded $1 billion, representing a nearly fivefold increase compared to 2020. Hundreds of companies operate through a network of specialized IT Parks, serving external markets, including the OTS member states. Within the framework of regional cooperation, the Republic actively promotes initiatives for the unification of digital services and the development of joint educational programs in high technology.

However, the effectiveness of these processes is largely determined not only by economic but also by humanitarian factors. In this regard, the OTS possesses a unique advantage, as it is built upon a deep historical and cultural commonality, linguistic proximity, and a shared civilizational heritage among the member states.

A pivotal role in this process is played by a network of specialized institutions, among which the International Turkic Academy, TURKSOY, TURKPA, and the Turkic Universities Union hold particular significance, ensuring the comprehensive development of humanitarian, scientific and educational cooperation.

These structures provide coordination for scientific research, the development of joint educational initiatives, the promotion of cultural heritage, and the expansion of inter-societal engagement.

Special attention is dedicated to the development of academic integration. Since 2025, dozens of academic exchange programs, including joint master's and doctoral tracks, have been implemented within the framework of inter-university cooperation among the OTS states. The number of students participating in educational mobility between the countries of the organization increases annually by an average of 18–22%.

A notable contribution to this process is made by leading universities, such as the Al-Farabi Kazakh National University, Ankara University, Samarkand State University, and the Kyrgyz-Turkish Manas University, which serve as key centers for personnel training and scientific support for integration processes.

Separate attention of the member states is directed toward expanding tourism potential. The cumulative tourism flow among the OTS states has increased by more than 35% over the past five years. A significant impact was delivered by the development of joint tourist routes, including pilgrimage, historical-cultural, and ethnographic programs.

In this context, "Cultural Capital of the Turkic World" program and the granting of this status to cities such as Khiva, Aktau, Turkmenbashi, and Shusha have contributed to a significant intensification of tourism exchange within the format.

Another factor driving tourism development has been the formulation of a unified tourism product, "Tabarruk Ziyorat," aimed at developing religious and educational tourism among Uzbekistan, Kazakhstan, Kyrgyzstan and Türkiye.

Looking ahead, the OTS possesses significant potential for further strengthening as a space for practical cooperation.

Crucial importance in this context will be attached to the deepening of economic cooperation by reducing non-tariff barriers and digitalizing trade and customs procedures, the further development of transport and logistics connectivity - primarily within the framework of the Middle Corridor - the expansion of technological collaboration focused on the development of the digital economy and joint innovation platforms, as well as the strengthening of expert-analytical, academic and educational interaction.

On the whole, deepening cooperation across key areas will serve to strengthen the role of the OTS as one of the most promising frameworks ensuring the development and resilience of Central Asian nations.

In this context, the informal OTS summit held in Turkistan stands as a crucial milestone in advancing this agenda, reaffirming the commitment of the member states to expanding practical cooperation and defining new benchmarks for joint development, primarily in digital transformation and technological collaboration.

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,

The Fifth Tashkent International Investment Forum will take place on June 16–19, 2026. This year’s theme – “Investment Resilience: New Frontiers, New Partnerships” – frames the agenda around a set of pressing questions: how to protect capital amid global uncertainty, what institutional mechanisms enhance investment resilience in frontier markets, and where the new partnership routes lie.

The forum’s context is set by macroeconomic results. According to the National Statistics Committee, Uzbekistan’s GDP grew by 7.7% in 2025 and exceeded $147 billion – the fastest pace since 2021 and among the highest in the Europe and Central Asia region. Fitch Ratings and S&P Global upgraded the country’s sovereign rating from BB– to BB for the first time, while Moody’s revised its outlook to “positive.” International reserves, per the Central Bank, surpass $77 billion. Exports rose 24% to $33.8 billion. Foreign direct investment increased by 46.9%, with FDI accounting for 40.5% of total capital investment. For an economy that attracted only $4 billion in annual foreign investment in 2017, the surge to $42 billion by 2025 represents a fundamentally different scale of growth. This tenfold increase over eight years underscores a profound transformation in the nation's investment landscape.

The forum is scaling alongside the economy. Last year’s TIIF drew over 8,000 participants, including some 3,000 international delegates from 97 countries. Guests included Bulgarian President Rumen Radev, Slovak Prime Minister Robert Fico, heads of government from all Central Asian states, EBRD President Odile Renaud-Basso, and New Development Bank President Dilma Rousseff. The aggregate value of signed investment contracts and trade agreements reached $30.5 billion. Yet what best speaks to the platform’s maturity is not the number of signings but the conversion rate – the share of agreements that translate into operating assets is increasingly the metric that matters to returning investors.

The centrepiece of this year’s forum will be the Tashkent International Financial Centre (TIFC), established by presidential decree in March 2026. Behind the headline sits a specific institutional architecture: a special legal regime based on common-law principles, a dedicated financial services regulator, an arbitration centre (TIAC), and tax exemptions through 2076. TIFC is part of a global trend toward specialised financial hubs that offer international market participants a familiar legal environment and regulatory predictability. Its defining feature is integration within the country’s legal framework: the centre operates under a special legal regime rather than creating a separate jurisdiction, reducing regulatory fragmentation and simplifying engagement with the domestic economy. A panel session featuring leaders of major global financial centres and international investors operating in Uzbekistan will address the central question: what are the practical conditions under which TIFC can attract international market participants.

The TIIF 2026 programme is structured around four thematic pillars: investment resilience and capital protection mechanisms, financial infrastructure and capital market development, trade connectivity and logistics corridors, and energy transition and climate finance. Key sessions include a discussion of the regulatory framework for alternative investment funds (a legal basis for private equity and venture capital being adopted for the first time), a panel on the Middle Corridor and trans-Caspian logistics, a session on sovereign ratings across Central Asia, and a practitioner-led workshop on blended finance instruments in frontier markets. A dedicated arbitration and dispute resolution track features two panel sessions co-organised with the Tashkent International Arbitration Centre (TIAC), the British-Uzbek Legal Association (BrULA), and the British Embassy. Topics range from the institutional design of Uzbekistan’s arbitration ecosystem – including the innovative Dispute Avoidance Protocol (DAP) – to the country’s positioning within the global investment protection architecture: ISDS frameworks, bilateral investment treaty reform, and New York Convention enforcement.

The energy agenda warrants particular attention. Uzbekistan has set an ambitious target of raising the share of renewables in electricity generation to 54% by 2030. Currently, the country operates solar and wind facilities with a combined installed capacity exceeding 4 GW, with a project pipeline envisaging an additional 19 GW of green capacity. Alongside this, the public-private partnership mechanism continues to develop: as of early 2025, PPP agreements worth approximately $28 billion had been signed in the country. For investors, this represents a large, structured market with standardised PPA contracts and a clear entry mechanism – a subject that will be examined in detail during the forum’s energy panel.

TIIF 2026 retains its bilateral business forum format, reflecting the expanding geography of Uzbekistan’s economic partnerships. Confirmed platforms include business forums with the Republic of Korea, the United States, Croatia, Hungary, Turkey, and Albania, as well as a China–SCO countries investment dialogue; the lineup continues to grow as the event approaches. The plenary session featuring heads of state and government will set the tone for the business programme. Running in parallel is an exhibition of industrial and investment potential spanning approximately 6,000 sq m – in 2025, a comparable facility facilitated over 500 B2B and B2G meetings for 100 participating companies.

At the same time, the forum agenda implicitly flags unresolved challenges. The corporate governance session raises the question of transitioning from concentrated to dispersed ownership – a process without which the stock market will remain illiquid. The discussion of privatisation and state asset IPOs calls for a candid conversation about pacing and institutional quality. The responsible business conduct panel, anchored in OECD standards, recognises that tax incentives alone are insufficient for accessing institutional capital – what is needed is verifiable supply chain transparency and functioning National Contact Point mechanisms.

The business programme is complemented by networking formats: an FIC and EY business breakfast on digitalisation and AI, the annual SQB Investor Day, an ESG Award ceremony, and the European Business Evening. The informal component – an invitational tennis tournament, TIIF Open, and an evening run – is designed for delegates who prefer to build relationships beyond the conference hall. The anniversary evening concludes with a collaboration with the Stihia electronic music festival – a detail that captures the tone in which Uzbekistan presents itself to an international audience.

For Uzbekistan, TIIF has long ceased to be a showcase. It is a working instrument of investment policy, whose effectiveness is measured not by the number of signing ceremonies but by the volume of capital that actually enters the economy between forums. The fifth, anniversary edition takes place at a moment when the country is simultaneously launching an international financial centre, adopting an alternative investment funds law, and receiving a sovereign rating upgrade – a convergence that creates a window of opportunity for investors prepared to operate in frontier markets with a growing institutional base.

Distinguished heads of delegations!

I am sincerely glad to greet you all. I would like to echo the words of gratitude to the President of the Republic of Kazakhstan, H.E. Kassym-Jomart Tokayev, for the warm welcome and excellent organization of our meeting.

I am grateful to the distinguished Federal Chancellor of Germany, H.E. Mr. Olaf Scholz, for his commitment to expanding the multifaceted partnership with the countries of our region.

Our first meeting in Berlin and today's summit reaffirm shared intention to continue an open and constructive dialogue and our focus on achieving concrete practical results.

We are interested in holding regular meetings in this format, with setting up the mechanisms for expert review and implementation of the initiatives put forward.

Distinguished Federal Chancellor!

We highly value Germany's firm and unwavering support for the ongoing democratic transformations and socio-economic reforms in our countries, partnership and integration in Central Asia.

I would like to highlight that our multifaceted relationship has deep historical roots.

In the 18th century, the great composer of the Age of Enlightenment Handel created one of his greatest works – the opera "Tamerlane" – in just 20 days.

The great poet and philosopher Goethe dedicated a number of his famous works to our ancient cities - the centers of civilization.

I would like to mention another historical fact.

At the beginning of the 20th century, a group of talented, progressive young people from Central Asia studied at the leading German universities and subsequently made a great contribution to the promotion of the enlightenment ideas and socio-economic development of our region.

I would like to emphasize that today we see Germany as one of our important partners in achieving national goals of sustainable development.

Let me briefly highlight the profound and fundamental changes that have taken place in Central Asia in recent years.

We have established an open and productive dialogue and are independently addressing many issues related to borders, water, energy, trade and transit.

Recently, the Sixth Meeting of the Heads of State of the region was held here in Astana.

The international stance of the region is strengthening, cooperation with the leading countries via "Central Asia Plus" format is expanding.

The volumes of trade turnover, investment, freight transport and tourist travel by our citizens have increased many-fold.

We are discussing major regional projects in green energy and the development of transport communications.

We are exchanging experience and technologies, creating modern industrial and agricultural enterprises, and introducing financial instruments to stimulate cooperation projects.

Most importantly, we clearly understand that the future of our region, its security and sustainable development depends solely on our political will and efforts.

We sincerely welcome the interest of our European partners, first of all Germany, as the main initiator and driving force behind the promotion of EU strategies and multilateral cooperation programmes with our countries.

We are preparing to hold another summit in Uzbekistan in the format of "Central Asia - European Union" next year, having defined the investment in the future of the region as the main topic of the agenda of the meeting.

Dear colleagues!

Conflicts and wars, the overall global instability and unpredictability, sanctions policy, increased protectionism and many other factors are causing extremely negative impact on our countries and are becoming a serious test to the implementation of national programs and reforms.

Earlier, during our talks in Samarkand, I shared with Chancellor Scholz my high expectations from today’s meeting.

In this regard, I would like to outline our vision of the main directions for developing cooperation with Germany in Central Asia.

First. We highly value the establishment of a strategic regional partnership between Central Asia and Germany, which meets the common interests of maintaining stability, ensuring sustainability and prosperity of the region.

We consider it appropriate to adopt a long-term Concept for the development of our partnership with program activities in priority areas.

In order to develop this document, we propose to consider the possibility of establishing the “Central Asia – Germany” Forum of Analytical Centers. We are ready to hold its first meeting next year in Khiva - one of the region’s historic cities where a large community of German Mennonites used to live.

We also assign an important role to the annual meetings of the heads of the foreign ministries of our countries in preparing the agenda of our summits.

Second. Investment and technological partnership with the leading German companies.

I would like to note that the portfolio of ongoing and promising projects in Uzbekistan with the participation of German companies exceeds 20 billion Euros.

This includes energy, chemical and extractive industries, machine building, textile and food industry, agriculture, transport and logistics, production of construction materials.

The leading German companies, such as Siemens, Linde, BASF, MAN, Claas, Henkel, Knauf and many others are among our partners, which have invested about 6 billion euros into Uzbekistan’s economy in recent years.

Today we will have the opportunity to discuss long-term plans with the representatives of the German business.

In this regard, I have a number of specific proposals:

– developing a "road map" for expanding investment and technological cooperation between the Central Asian countries and Germany;

– participation of the leading German companies and banks in the implementation of joint projects in the special economic and industrial zones being created in the border areas, as well as large infrastructure projects of regional significance;

– launching of a permanent business dialogue platform – “Central Asia-Germany” Council of Investors and Entrepreneurs. We are ready to hold its first meeting next year in Uzbekistan within the Tashkent Investment Forum;

– study of the possibility of adopting a multilateral intergovernmental agreement on promotion and protection of investments.

Third. Partnership in critical raw materials based on the introduction of advanced German knowledge and technologies.

As it was mentioned our region is abundant in mineral resources.

The German Mineral Resources Agency and German companies could become our key partners in this area.

Here, we are referring to the geological survey projects, intensive exploration, processing and production of products with high added value, as well as arrangement of shipments to Germany and other EU countries.

Uzbekistan is ready to take part in the joint implementation of such projects in neighboring countries.

The technical assistance from Germany and European institutions in implementing the Digital Mapping Program of Critical Minerals and Rare Earth Metals in our region holds promising opportunities.

We also believe it is important to establish a reliable legal framework for such cooperation.

Fourth. “Green” energy. In recent years, all our countries have been actively developing solar, wind and hydropower, modernizing thermal power plants and networks, and promoting green hydrogen projects.

We propose to consider launching an Energy Dialogue between Central Asian countries and Germany, involving energy ministries, companies, operators, scientific organizations, design institutes and industry experts.

We are interested in preparing a Comprehensive Capacity Building Program for specialists in the low-carbon economy with the German technical assistance.

Fifth. Joint response to climate change.

Experts predict that the Central Asian region will remain most vulnerable to the effects of global warming. The rise in average temperatures will be twice as high as the world average.

We are grateful to the German side for launching the second phase of the “Green Central Asia” program, assistance provided for the implementation of environmental projects.

We are also interested in the following:

- implementation of joint educational programs and scientific exchanges at the Central Asian University of Environmental and Climate Change Studies;

- adoption of cooperation programs for the introduction of German water management technologies, modernization of irrigation systems, conservation of biodiversity and training of environmental specialists.

We support and are ready to take an active part in the practical implementation of the initiative of the German Chancellor to create a Central Asian Nature Partnership.

Sixth. The biggest barrier to deepening our partnership is the lack of transport connectivity, including land and air.

We count on Germany’s support in engaging European institutions in the development of alternative transportation corridors connecting Central Asia with Europe.

We propose to hold a joint Ministerial Conference next year on improving the transit capacity of such routes.

Dear heads of delegations!

The exhibition of cultural and historical heritage of our region last year at the Neues Museum in Berlin once again demonstrated the need for regular organization of such events.

Over several months, more than half a million of residents and guests of the German capital city enjoyed the exhibition.

We propose to adopt a Joint Plan for Cultural Activities in our countries, consider the possibility of holding Central Asian Art and Film Days in major cities of Germany, and establish cooperation between museums.

In the field of scientific and educational exchange, it is important to launch a platform for partnership among leading universities,
to develop programs aimed at expanding cooperation in the field of dual education, to train German language teachers with the involvement of the Goethe Institute and other German organizations.

The high interest of our youth in learning German is evidenced by the victory of an Uzbek schoolgirl at the World Olympiad held this summer in Göttingen.

Dear colleagues!

We believe it is important to continue close cooperation with Germany in the fields of combating terrorism, extremism and cybercrime, preventing radicalization of youth.

The security situation in Central Asia is inextricably linked with the processes taking place in Afghanistan.

We believe it is important to prevent the aggravation of the humanitarian crisis in this country, which is left alone with its own challenges.

In this regard, we are ready to cooperate with Germany and other European partners in the implementation of joint projects aimed at involving this country into regional economic cooperation and training personnel, including girls and women, in skills that are on-demand for the peaceful life in Afghanistan, at the Educational Center located in the border town of Termez.

In conclusion, I would like to emphasize that Uzbekistan is interested in untapping the potential of Germany’s multifaceted cooperation with the Central Asian region.

I am confident that today’s meeting will serve to further bringing our countries and peoples closer and fill our strategic partnership with concrete projects and programs.

Thank you!

Today, cooperation agenda between Uzbekistan and Azerbaijan is gradually taking on a regional dimension. Tashkent and Baku are increasingly viewed not merely as two independent technology hubs, but as potential links connecting the innovation ecosystems of Central Asia and the South Caucasus.

Additional institutional groundwork for long-term cooperation was laid by the outcomes of the Uzbek-Azerbaijani summit in August 2026, during which a Treaty on Eternal Friendship between the two states was signed.

From Interagency Dialogue to Practical Cooperation

One of the starting points for modern cooperation in technology and innovation was June 2022. During Azerbaijani President Ilham Aliyev’s state visit to Uzbekistan, the Ministry of Digital Development and Transport of Azerbaijan and the Ministry for Innovative Development of Uzbekistan signed a Memorandum of Understanding.

Practical implementation of these agreements began just a few months later. In September 2022, Uzbek specialists visited the Ministry of Digital Development and Transport of Azerbaijan and its affiliated organizations. The delegation familiarized itself with the activities of Azercosmos, including the management of telecommunications satellites and Earth observation technologies, and studied the work of Azerbaijan’s Innovation and Digital Development Agency (IDDA) and its startup support mechanisms. One of the earliest areas of cooperation was therefore the exchange of practical experience in developing innovation and digital infrastructure.

The next important stage of cooperation came at the end of 2023, when a delegation from the Ministry of Digital Technologies and IT Park Uzbekistan visited Baku and took part in the INMerge Innovation Summit. As part of the visit, Uzbek representatives also held a meeting with PASHA Holding, which became an important point of contact for establishing business ties and discussing prospects for cooperation in innovation, digital technologies, and startup ecosystem development.

During talks with the Ministry of Digital Development and Transport of Azerbaijan, the parties identified areas such as e-government, telecommunications, electronic document management, and digitalization. An interagency working group was formed to further develop these projects. At the same time, substantive dialogue began with IDDA on the development of startup and venture ecosystems and the organization of joint acceleration programs.

Thus, from 2022 onward, Uzbek-Azerbaijani digital cooperation gradually moved from studying experience and establishing institutional contacts toward practical cooperation between the technology ecosystems of the two countries.

IT Business Becomes a Distinct Area of Bilateral Relations

The development of intergovernmental engagement has been accompanied by an expansion of direct ties between IT companies from both countries.

By the end of the first half of 2026, the number of IT Park Uzbekistan resident companies with Azerbaijani capital reached 16.

The volume of export services provided by companies with Azerbaijani capital exceeded $2.5 million in the first half of 2026 alone, already surpassing the figure for the whole of 2025, which stood at more than $2.3 million. These companies have created 172 jobs.

Their main areas of activity are software development and implementation, technical support, and software licensing. Companies with Azerbaijani capital include, among others, Financial Chain Corporation and Robertson and Blums.

At the same time, exports of Uzbek digital services to the Azerbaijani market are also growing. In the first half of 2026, 21 IT Park Uzbekistan companies exported services to Azerbaijan. Export volume exceeded $1.2 million, nearly matching the figure for all of 2025, which reached $1.34 million.

Companies serving the Azerbaijani market employ approximately 700 specialists. Among the largest exporters are T4Data, which works with SAP solutions, and Transproekt and IT A-Plus Solutions Software, which specialize in software development.

Startups and Venture Capital: A Fast-Growing Area

One of the key elements of Uzbek-Azerbaijani technological engagement has been the development of the startup ecosystem.

The first practical bridges began forming as early as 2023. IT Park Uzbekistan served as an information partner for Azerbaijan’s SABAH.lab acceleration program, which prepared technology companies for investment and provided funding opportunities for selected projects.

During the 2023 INMerge Innovation Summit in Baku, Uzbek startups TASS Vision, Workly, Sug’urta Bozor, and Uysot had the opportunity to present their projects to international venture funds, including 500 Global, Caucasus Ventures, White Hill Capital, Seedstars, TA Ventures, and Plug and Play.

At the same time, discussions were held with SABAH.HUB on investment in Uzbek startups and the development of university incubation programs, as well as with Azerbaijan’s Innovation and Digital Development Agency on joint acceleration projects.

In November 2024, four Uzbek startup projects were presented under the “Central Asian Innovation Hubs” brand at the InMerge innovation summit in Baku, marking the beginning of more active bilateral engagement in the startup sphere. This partnership was further developed on May 6, 2026, when IT Park Uzbekistan and PASHA Holding jointly held the “InMerge Uzbekistan Innovation Summit” in Tashkent, bringing together more than 40 startups and around 20 international experts and speakers, along with investors, corporations, and government representatives, to discuss business partnerships and investment attraction.

A practical outcome of this cooperation was that Azerbaijani startups “Push30” and “Clopos” attracted a combined $500,000 in investment from local funds IT Park Ventures and Aloqa Ventures as part of their expansion into Uzbekistan. At the same time, Uzbek startup “Recepta” secured $150,000 in investment from IT Park Ventures under the “Digital Startup Awards” program. Reciprocal activity has also been demonstrated by Uzbek startups “Tass Vision,” “Promptlab,” and “Oson,” which are actively expanding into the Azerbaijani market, as well as by startup “Sino AI,” which has been integrated into a clinic in Azerbaijan and is undergoing testing with 50 users.

A particularly notable practical outcome was Azerbaijan’s participation in the Digital Startup Awards 2025, organized by the Ministry of Digital Technologies of Uzbekistan, IT Park Uzbekistan, and IT Park Ventures.

Azerbaijani projects took part in several tracks simultaneously, including incubation, acceleration, and the “Best Startup Project” category. Startups from Azerbaijan received a combined total of $70,000 through the program. Recepta received $50,000 under the acceleration program, Lingozy and SnackPack AZ received support through incubation, while StarkidStories and Tryverse represented Azerbaijan in the finals of the Best Startup Project category.

This marks an important qualitative shift: capital is beginning to flow between the two ecosystems in both directions, creating the foundations for a regional venture capital market.

From Acceleration to Joint Work on AI Projects

Artificial intelligence is gradually becoming a distinct area of technological cooperation.

In June 2026, IT Park Uzbekistan, IT Park Ventures, Azerbaijan’s SABAH.HUB, and Founders Hub organized a Startup Deep Dive practical session for technology entrepreneurs in Tashkent. Selected startups had the opportunity to present their products to a SABAH.HUB expert and receive an assessment of their business models, market potential, and readiness for investment and international scaling.

Particular emphasis in the program was placed on startups considering Azerbaijan as their next market for expansion.

Alongside startup cooperation, another strategically important area developing in parallel is training and the exchange of professional competencies.

A notable example was the 3rd International Training Camp in Competitive Programming, held in Baku from August 20 to 27, 2026. Uzbekistan was represented by four teams, including teams from Tashkent University of Information Technologies, New Uzbekistan University, and the Tashkent branch of Moscow State University.

Three of these teams were winners of the IT Park Code Cup, and their participation was supported by IT Park Uzbekistan. Over the course of seven days, students worked on problems from one of the world’s most rigorous international competitive programming training programs and exchanged knowledge with foreign teams and coaches.

What the Next Stage of Cooperation Will Look Like

The experience accumulated so far points to the gradual formation of a new direction in Uzbek-Azerbaijani relations in the field of digital technologies.

While the first stage was centered on familiarization visits and the exchange of government experience, and the second on participation in joint events and startup programs, the next stage will involve establishing permanent infrastructure for technological cooperation.

ICT Week Uzbekistan 2026 will serve as an important platform for continuing this dialogue. As part of the week, a technology forum of the Organization of Turkic States is also planned to be held in Uzbekistan, with representatives of Azerbaijan’s technology ecosystem participating.

Looking ahead, this interconnection between the two ecosystems could become one of the region’s key competitive advantages. It creates conditions for the emergence of new cross-border companies, joint investment mechanisms, and technological solutions capable of scaling across multiple markets simultaneously.

In this way, Uzbekistan and Azerbaijan are gradually forming an ecosystem that could become an independent hub for attracting entrepreneurs, capital, and technology professionals, strengthening the region’s role in the global innovation economy.

Relocating an operational office to a new jurisdiction is invariably a complex undertaking, involving unfamiliar regulatory environments and concerns regarding continuity of team management and internal processes. Uzbekistan addresses the majority of these challenges — and this article examines the factors underpinning that proposition and the reasons why more than 1,000 technology companies have chosen the country as their base of operations.

Why Companies Choose Uzbekistan

For businesses originating from CIS countries, Uzbekistan offers a familiar business culture, an established professional rhythm, and a legislative framework that is relatively straightforward to navigate. Teams integrate into operational workflows more rapidly, and founders are not forced to spend the initial months resolving administrative or logistical matters.

A further advantage is the elimination of lengthy preparation periods for basic operational setup. IT Park provides not only company registration assistance but also fully equipped, ready-to-use office infrastructure - including furniture, equipment, and communications.

All core administrative processes are handled through a single interface — the One Stop Shop — covering company registration, tax administration, bank account opening, and documentation requirements, without the need to navigate multiple institutions. A dedicated team with experience guiding hundreds of companies through this process is on hand to anticipate and resolve common complications.
For teams relocating with their families, the Softlanding Program offers assistance with housing, documentation, and post-relocation adaptation, enabling employees to settle in efficiently and transition smoothly into professional responsibilities.

Zero Risk Program: Launching Without a Cash Flow Gap

The Zero Risk Program is designed to accelerate the initial operational phase of relocation. Participating companies receive a fully furnished and equipped office, enabling near-immediate commencement of operations. The program additionally covers a portion of recruitment and staff training costs and reimburses up to 15% of payroll expenses, allowing businesses to assemble their teams and reach full operational capacity without undue financial pressure.

Tax Conditions for IT Park Residents

IT Park residents benefit from some of the most advantageous tax conditions available to technology businesses in the region: a 0% rate on corporate income tax, VAT, and social tax. Personal income tax for employees stands at 7.5% - considerably lower than prevailing rates across much of Europe.

These conditions allow companies to direct a greater proportion of resources toward team development and business growth rather than absorbing a high tax burden.

The cost of living and operational expenditure in Uzbekistan further reinforces this advantage, enabling businesses to reduce recruitment and retention costs, as well as day-to-day operating expenses, while maintaining working and living conditions conducive to international business.

IT Visa and Conditions for Teams

A three-year IT Visa is available to founders, investors, and technology specialists, allowing holders to reside and work in Uzbekistan without a separate work permit. The visa extends to family members and grants access to healthcare and education services on equivalent terms to Uzbek citizens, as well as the right to purchase real estate without value restrictions.

Uzbekistan as a Base for International Expansion

For a growing number of companies, relocation to Uzbekistan extends beyond operational transfer. The country is increasingly regarded as a strategic platform for international development. The IT and BPO sectors are expanding rapidly, with regional offices and delivery centers being established to serve clients across Europe, the CIS, Asia, and the United States. Uzbekistan's geographical position between European and Asian markets facilitates access to multiple markets simultaneously.