President of the Republic of Uzbekistan Shavkat Mirziyoyev met with Secretary-General of UN Tourism (World Tourism Organization) Zurab Pololikashvili, who is in our country on a working visit, in Samarkand on June 15.

The sides discussed issues related to further expansion of Uzbekistan's multifaceted cooperation with this specialized UN institution.

The course of implementation of agreements reached and initiatives put forward at the 25th session of the organization's General Assembly, which was held in Samarkand in October 2023, has been reviewed. The UN General Assembly's adoption of the resolution initiated by Uzbekistan on declaring 2027 the International Year of Sustainable and Resilient Tourism was highly appreciated.

It was noted with deep satisfaction that the organization is a strategic partner of Uzbekistan in the development of modern tourist infrastructure and popularization of tourist destination to our country.

It was noted the importance of continuing joint efforts to implement programs and projects aimed at creating comfortable conditions and facilities for tourists, development of pilgrimage and cultural and cognitive tourism, including domestic tourism.

Special attention was paid to the issues of training qualified personnel in the field of hospitality and service with the effective use of opportunities of the International Academy of Tourism operating in Samarkand.

In order to popularize the tourist destination in Uzbekistan, practical interaction will be expanded in the issues of supporting the participation of domestic tour operators in major international tourism fairs and exhibitions.

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

The text of the article is in Uzbek.

On 24 October 2025, Uzbekistan and the European Union signed the Enhanced Partnership and Cooperation Agreement (EPCA) — a comprehensive framework that culminates negotiations launched in February 2019 and initialled in July 2022. More than a ceremonial milestone, the EPCA codifies a strategic upgrade in our relationship with the EU. It is broad in scope — nine titles, 356 articles, and 14 annexes — and practical in ambition: to align our cooperation with the realities of a rapidly changing world economy while reinforcing the rule-of-law foundations of sustainable development at home.

The agreement’s timing is revealing. Uzbekistan’s recent balanced, multi-vector foreign policy and people-centred reforms — strengthening the rule of law, expanding public administration openness, and advancing market reforms — have laid the necessary groundwork. These steps in human rights and governance have increased international confidence, enabling a rules-based partnership with Europe. The EPCA is both a vote of confidence in Uzbekistan’s reform trajectory and a tangible roadmap to deliver measurable outcomes.

Economically, the EPCA offers a clear pathway for integration and growth. It promotes approximation to EU norms on technical regulations, product safety, and sanitary and phytosanitary measures. The agreement is designed to reduce non-tariff barriers, simplify border procedures, and make our exporters more competitive in the EU market. It encourages joint ventures and industrial clustering, extends agro-processing and manufacturing value chains, and supports energy efficiency and industrial modernisation. In short: more trade, more investment, and more quality jobs at home.

Human capital is an equally central pillar. The EPCA expands cooperation across education, science, skills development, and public health. It encourages joint university programmes, faculty and student exchanges, and research grants — mechanisms that accelerate knowledge transfer and help align our skills base with the demands of a digital and green economy. The spillovers are immediate and tangible: better public services, higher productivity, and new career pathways for our young people.

The rule-of-law dimension is another strategic gain. Deeper cooperation on judicial reform, anti-corruption, data protection, and cybersecurity increases predictability for investors and protections for citizens. The agreement’s chapter on foreign and security policy expands dialogue on conflict prevention, crisis management, non-proliferation, and export controls. This cooperation supports regional stability, which is essential for long-term growth.

Connectivity is the backbone that makes these ambitions feasible. Through synergies with the EU’s Global Gateway initiative and the Trans-Caspian Transport Corridor, the EPCA supports logistics hubs, border modernisation, and greener infrastructure. Better connectivity means lower trade costs, faster delivery times, and diversified export routes — practical levers for competitiveness. It also enables cooperation on water management, climate adaptation, and resilient energy systems — strategic priorities for a land-linked Central Asian economy.

Critically, the EPCA opens structured avenues for collaboration on critical raw materials needed for the green and digital transitions. This builds on the EU-Uzbekistan memorandum of understanding signed in 2024. It creates opportunities to upgrade domestic standards, attract responsible investment, and join higher segments of global value chains, while maintaining environmental and social safeguards.

Beyond the text, the joint statement issued at the signing underscores a shared commitment to the UN Charter and to the principles of independence, sovereignty, and territorial integrity — principles that guide our positions in international fora. It also welcomes the outcomes of the EU–Central Asia Summit, including plans for a Central Asia–EU Economic Forum and a Trans-Caspian Connectivity Investors Forum in Tashkent in 2025. In short, the EPCA is embedded in a wider, forward-looking regional agenda.

In practical terms, success requires implementation of three clear priorities: coordinated institution building, enhanced business support, and transparent, data-driven tracking. These will ensure commitments translate to outcomes.

First, institutional coordination. Translating commitments into outcomes requires a whole-of-government mechanism with clear mandates, timelines, and dashboards. A national EPCA coordination council, supported by technical working groups, should steer approximation to EU standards, monitor progress, and troubleshoot bottlenecks.

Second, business enablement. Firms need guidance to navigate new standards and opportunities. An 'EU Helpdesk' for exporters and investors would offer practical advice on certification, rules of origin, and compliance. This would turn legal text into business practice. Expanding the capacity of testing, inspection, and certification bodies will further reduce transaction costs and speed market entry.

Third, open, data-driven delivery. Customs and trade facilitation should be fully digitised through single-window systems and interoperable data exchange. Regular public reporting on milestones — such as education partnerships, financed projects, and adopted standards — will sustain credibility and invite feedback from business and civil society.

The EPCA also aligns with Uzbekistan’s WTO accession path by encouraging market-based reforms and transparent, rules-based trade. As reforms deepen, our economy will see more diversified exports, stronger investor protections, and a more competitive domestic market. These outcomes raise household incomes and expand opportunity.

This agreement is ambitious by design. Ambition alone is empty; execution alone is stagnant. The EPCA combines both — setting a high bar and supplying the means to reach it. By acting decisively, we turn this framework into a catalyst for inclusive growth, institutional maturity, and global credibility.

Ultimately, the EPCA is more than a diplomatic success; it is the engine for Uzbekistan’s reform agenda. By linking citizen welfare, business competitiveness, and international engagement, the EPCA puts us on a path to fundamental transformation. The critical task ahead is to deliver on this promise and make the Uzbekistan-EU partnership impactful and enduring.

By Eldor Tulyakov,

Executive Director, Development Strategy Centre, Uzbekistan

In recent years, systematic work has been carried out to create a continuous chain of comprehensive support for the development of entrepreneurship in our country. As a result of the measures implemented and important decisions made over the last seven years, a new generation of entrepreneurs of New Uzbekistan has emerged.
In particular, BMB HOLDING is one of the major subjects of private entrepreneurship, playing an important role in the economic life of our country, and gaining strong positions not only in the domestic, but also in the international market.
On the eve of the 33rd anniversary of independence of the Republic of Uzbekistan, Dunyo information agency talked to Bekzod Mamatkulov, the founder of BMB HOLDING.
– Mr. Mamatkulov, in recent years BMB HOLDING has gained a great reputation not only in Uzbekistan, but also among the international business community. Today, the Holding effectively works in the areas of providing consulting services on investment projects, developing international business and trade relations, attracting foreign investments, export-import exchange, introducing innovative technologies, creating modern agro-industrial clusters. We would like to start our conversation with the organization of the Holding and the history of its development.
– After his election as President, Shavkat Mirziyoyev put on the agenda of our state’s policy such important issues as increasing economic potential, attracting investments and, most importantly, supporting entrepreneurs to bring the country to a new stage of development.
In this sense, the opportunities created for entrepreneurs have radically changed my life goals and made me want to test my potential in business.
We generated our first income through services. Developing business plans and providing consulting services was our first source of income. Later we bought land in Arnasay district of Jizzak region to implement our agricultural projects. We planted mung beans and peas as secondary crops here. The first attempts were successful. The agricultural products we grew gave better results than we expected. For the first time we were able to export our crops abroad. In particular, we started selling agricultural products to Pakistan, India and Afghanistan. Later, we had a plan to supply cotton and grain to the state on a contract basis, and we gradually expanded our financial capacity, making a profit from it.
In 2017, during the visit of the Head of state to Jizzakh region, our project to create a food cluster in Arnasay district was presented. At the meeting, the President emphasized that he would support us, like all businessmen, and expressed great confidence in us. Such attention and support of the President of the country gave us additional strength. After that, there was a desire to further expand our business activities, to test ourselves in new industries, to develop and implement joint projects with foreign partners.
In particular, in 2018, we were among the first to create the largest cotton cluster in the country. Thanks to the attention of the management and creation of favorable conditions for doing business, we created a cluster for growing medicinal plants, namely saffron. Later we organized a fruit and vegetable cluster. This big project, in turn, enabled us to set up a system of sorting, packing and deep processing of fruits and vegetables. Thus, having passed through various stages of business, our small project has now formed into BMB HOLDING. At present the Holding unites 30 enterprises. They employ more than six thousand people across the country.
– It is no secret that today the Holding realizes investment projects of international and national level. As an entrepreneur and a person who knows the business environment in foreign countries, how do you assess the investment environment in Uzbekistan? Are there aspects that do not satisfy you, are there factors that are obstacles for business?
– In the process of building New Uzbekistan, the creation of a favorable investment environment for entrepreneurs has become one of the main goals of the reforms of the Head of our state. The adoption by the President of Uzbekistan of a number of decrees and resolutions aimed at supporting entrepreneurs is yielding results today.
Improvement of tax legislation, creation of the possibility of free currency conversion, reforms in the sphere of private property and a number of other positive changes related to these spheres have played their important role, and entrepreneurs are now considered as the driving force of the country’s economy. In 2020-2022, despite the fact that the coronavirus pandemic worldwide had a large negative impact on the economies and the global investment environment, Uzbekistan’s economic growth rates remained stable and its investment attractiveness continued to grow.
The fact that the inflow of foreign investments into the country has increased significantly testifies to the confidence of international business in the economic reforms in our country. Active diversification of the economy is an important achievement that has opened new opportunities for investors in all sectors, starting with industry.
Now, if we talk about the factors that are obstacles for business, aspects that do not satisfy entrepreneurs, I will tell the truth openly: at the level of the government, reforms are being implemented very intensively, positive changes are taking place. But when you go to the lower level of the system, there are still cases of inattention and carelessness somewhere. I believe that such shortcomings will be eliminated.
– We know that BMB HOLDING is engaged in the production and export of a wide variety of agricultural products. In particular, the organization headed by you has achieved great success in saffron cultivation. Today saffron grown in Uzbekistan is becoming popular in many regions of the world. Tell me, when did you come up with the idea of establishing such a complex sphere as saffron cultivation in Uzbekistan and why did you choose this particular project?
– During President Shavkat Mirziyoyev’s visits to Kashkadarya region in 2017, the issue of cultivation of medicinal plants in mountainous and foothill regions, development of this sphere in our country and export of valuable medicinal plants to the world market was prioritized. The leader of our country also inquired why it is impossible to grow saffron in Uzbekistan despite all conditions, and gave a special instruction to develop this industry. During the President’s visit to Jizzakh region, we made a detailed presentation of our saffron cultivation project. Having familiarized himself with the project, the Head of state expressed his full support to it and instructed the responsible persons to implement the program as soon as possible.
However, it was not easy to realize this project at first. When implementing this business idea, first of all, we deeply studied the demand and supply in the domestic and foreign markets, opportunities and prospects for its implementation in the conditions of Uzbekistan, our own potential in this area, as well as a number of other factors. In 2020, we started to implement the project in pandemic conditions. At first, it took a lot of patience and hard work to find specialists, to bring saffron bulbs suitable for our climate from Europe and to get the desired harvest. In the first year we planted saffron bulbs on 55 hectares of land. The high demand for the harvest and the experience gained stimulated further development and expansion of the project. Today saffron is grown on 400 hectares of land. In the next three years, it is planned to increase the area of saffron plantations to 1,000 hectares and produce 20 tons of pure saffron products per year.
At the beginning of 2024, the product BMB Za’faron for the first time in our region received the USDA Organic certificate, an environmental certificate developed by the U.S. Department of Agriculture, which allowed Uzbek saffron to enter the American markets. After several years of in-depth analytical research, Uzbek saffron grown in the Bakhmal district received the appropriate permission to export to Chinese markets according to the conclusion of the Uzbek-Chinese interdepartmental commission.
– Indeed, a lot of experience in saffron cultivation has been accumulated in recent years. At the same time, what countries’ experience do you think should be studied and implemented in order to grow a competitive product that meets the requirements of international standards and markets?
– In agriculture, each product is grown using a specific method. Such countries as Italy, Austria, South Korea, USA, and Saudi Arabia have enough experience in saffron cultivation. Of course, we study the experience of countries with climatic conditions close to ours and exchange experience with industry experts. I can say that we have mobilized all possibilities to get more crops and export them abroad. The increase in exports, in turn, contributes to increasing the inflow of foreign currency into Uzbekistan and ensuring economic stability.
To bring our national products to the world market and increase their competitiveness, the most important factors are, first of all, quality, then price and, of course, matching production capacity to demand. We have taken these aspects into account in our work and projects, especially in saffron cultivation.
– In Uzbekistan, on the initiative of the Head of our state, an open dialog with entrepreneurs is held annually. Tell me, what impact do these efforts have on the activities of the Holding headed by you?
– It would not be an exaggeration to say that the adoption of a number of resolutions and decrees on creation of favorable business environment and healthy competition in our country, comprehensive support for entrepreneurs, further liberalization of tax policy have served to eliminate the problems that have arisen for many years and hindered the free activity of entrepreneurs.
Thanks to the political will of the President of Uzbekistan, the organizational and legal foundations for the development of the industry have been strengthened, and the attention to entrepreneurs has changed dramatically. Most importantly, all this has already started to yield positive results.
In addition, an open dialog between the President of the Republic of Uzbekistan and entrepreneurs has been established. In my opinion, there is no other country in the world that has such a format.
I can confidently say that the open communication of the Head of state with the business community, which has now become a tradition and is held annually, serves as an important factor in the formation of a new competitive class of entrepreneurs in New Uzbekistan.

I visit many countries for work. In particular, my friends-partners in Italy, Germany, the United States, Austria and other countries highly appreciate the annual dialog of the President of Uzbekistan with entrepreneurs. It is no secret that people look at us with envy when they see the personal attention of the Head of state to the development of business in our country. In fact, it is a great achievement for both sides — the President meets with businessmen, listens to their systemic problems, finds solutions and solves them. Therefore, today all businessmen are looking forward to meeting with the President. This meeting has also become an important forum for businessmen to assess their activities for the year and determine plans for the future. The speeches of our country’s leader at the meeting and important initiatives aimed at further development of the industry, removal of existing obstacles, provision of benefits to entrepreneurs serve as a program for further expansion of businessmen’s activities.
I would like to give an example based on my experience. Before dialoguing with the President, I note in my notebook the issues we face in our work. Listening to the President, I always get comprehensive answers to all my questions based on deep analysis.
– In August 2022, by the decree of the President of Uzbekistan, you were awarded the “Faol Tadbirkor” sign, and in 2023 — the “Dustlik” order. Recall those moments when your entrepreneurial activity was highly appreciated by the leadership of our country.
– Before answering, I have to say one thing. Before coming to business, I worked in state and public organizations for more than 15 years. I never received even a certificate of honor, let alone a state award. Today, the leader’s focus is on people who have sincerely worked for the development of our dear country — Uzbekistan. In recognition of our work, in 2022, I was awarded the “Faol Tadbirkor” sign. In 2023, I had the honor to receive the “Dustlik” Order from the esteemed President. These are not just awards given to me, they are recognition of the work of thousands of dedicated people working in the Holding’s system. Such a high appreciation gives our team more confidence and motivation, and gives us great strength to realize the goals we have set for ourselves.
– The direction of economic diplomacy is becoming increasingly important in attracting foreign investment to Uzbekistan, finding new partners and exporting national products abroad. In this regard, does the Holding, which you head, use the opportunities of diplomatic missions of our country in foreign countries? How satisfied are you with the work of our country's embassies in this direction?
– Frankly speaking, it used to be impossible to meet with diplomats. If you went abroad and wanted to meet with the Ambassador of our country, he would not accept businessmen. This is an open statement. The Ambassador only dealt with politics. Thanks very much to our President, he brought the diplomats’ attention to the economy as well. This, of course, has opened wonderful conditions and opportunities for entrepreneurs. Openness in this sphere, in turn, has become an important step for entrepreneurs in finding foreign partners and attracting investment.
Today, the diplomatic missions of Uzbekistan in foreign countries play a very important role in the activities of the Holding Company, and we feel their support at every stage of realization of our numerous projects. The introduction of the position of Advisor to the Ambassadors of Uzbekistan on economic issues has been very useful for us entrepreneurs. It should be noted that BMB HOLDING has established close relations of economic cooperation with embassies of foreign countries in Uzbekistan, in particular with diplomatic missions of Russia, China, USA and a number of European countries such as Poland, Austria and Latvia.
In a word, the role of diplomatic missions of Uzbekistan and foreign countries in our country is very important in effective realization of the company’s projects.
– Today BMB HOLDING operates in the field of cultivation and production of agricultural products. Our readers are also interested in the future plans of the Holding.
– Our plans for the near future are huge. In particular, the work on establishment of deep processing of agricultural and fruit and vegetable products, and the launching of textile factories in Syrdarya region is in full swing. We also want to implement projects in the field of medicine. Our first project in this direction will be the creation of a health center in Navoi region in 2025. Also, a chain of restaurants and hotels “Zafaron” will be launched in Tashkent city and Tashkent region.
Along with this, we plan to implement the project “Energy-efficient technologies and equipment for production, mining and processing of natural decorative stone” worth 50 million US dollars together with the organization Toksel Makina from Turkey.
– Our last question may be off-topic, but many people are also very interested in this area. We would like to ask about your projects in sports, especially in soccer. What are your goals in soccer and futsal? Also, please, provide information about BMB HOLDING brand ambassadors in the sphere of chess.
– This is an interesting question. BMB HOLDING considers the development of sports in our country, especially soccer and futsal, as one of the main directions of its activity. The Holding was one of the sponsors of Sogdiana soccer club in 2021 and Lokomotiv soccer club in 2022. Since 2023, our Holding has been one of the sponsors of the professional soccer league of Uzbekistan.
At the same time, the BMB PROFESSIONAL FUTSAL CLUB team started its activity in the system of the Holding. A number of famous local and Brazilian futsal players were invited to the team. For the last two years the team won the Cup of Uzbekistan and the Super Cup of Uzbekistan. Today the basis of our team is made up of futsal players playing in the national team of Uzbekistan on mini-football.
On June 30, on the occasion of Youth Day in Uzbekistan together with the Agency for Youth Affairs within the framework of the project of the brand ORRO ROSSO in Milan (this brand is currently the official partner of the Italian soccer club Milan and Monza) we organized a trip to our country of four famous former players of the soccer club Milan, world and European champions Dida, Sergino, Panucci and Zaccardo. I believe that the visit of famous soccer players to Uzbekistan has served to increase the interest and activity of our youth in sports.
As you know, the Futsal World Cup will be held in our country from September 14 to October 6 this year. BMB HOLDING as the main partner organization is preparing for this futsal holiday.
Besides, BMB HOLDING actively supports talented young chess players. Recognizing them as the face and ambassadors of the Holding, we call them brand ambassadors. In particular, FIDE Master of Sports Humoyun Bekmurodov won a silver medal at the X Chessable Sunway Sitges International Chess Festival 2023 held in Barcelona (Spain), and also won the Dubai Police Global Chess Challenge tournament held in Dubai (United Arab Emirates) on May 3-13 this year.
Another of our young chess players is Umida Omonova, a student of the International Chess School, world champion in blitz and rapid, FIDE Master of Sport, member of the Uzbekistan national team, holder of the state award named after Zulfiya, brand ambassador of BMB HOLDING. She also won the 18th round of the Uzbekistan Championship held in April this year.
Another thing is that BMB HOLDING mobilizes all its capabilities and potential in the direction of further prosperity of New Uzbekistan, which is being built under the leadership of the Head of state, improvement of welfare of our people and development of the Motherland.
- Thank you for taking the time to talk to us.
- Thank you.

Dunyo IA

ART

The Tashkent International Biennale of Contemporary Art has been held every two years since 2001 with government support. It serves as an open platform for cultural exchange in the visual arts, showcasing the modern creative potential of different countries and discussing current issues in contemporary art.

The theme of the X Tashkent International Biennale of Contemporary Art in 2024 is "Art and World". Conceptually, it explores the relationship between art and modern reality through the works of artists from various countries. This theme prompts reflection on the nature of the modern world: Does it possess integrity? Today, the world is characterized by polar stances, clashes, and numerous challenges related to preservation, ecology, morality, culture, and identity, spanning personal to state levels. Its landscape is shaped by opposition influenced by globalization, geopolitics, technogenic civilization, and artificial intelligence. How does contemporary art reflect on the modern world?

Simultaneously, the X Tashkent International Biennale aims to showcase various trends and new directions in contemporary art to the general public. It seeks to enhance international cultural relations, strengthen the creative dialogue between cultures, and highlight the achievements of different countries in visual art. The Biennale focuses on liberating creative consciousness, demonstrating pluralism in creative exploration, and illustrating the specifics of the postmodern condition in different countries. It addresses the state of intertextuality in modern art and the preservation or disappearance of local traditions in the era of globalization.

The concept of the Biennale is dedicated to displaying a multicultural lifestyle through the prism of contemporary art. The works presented will reflect diverse artistic expressions that uphold humanistic values. The theme provides an opportunity to explore concepts such as ecology, culture, tolerance, modern orientalism, identity, artificial intelligence, technogenic civilization, and the inner world of individuals.

FOR MORE DETAILS: biennale.uzbekistan@gmail.com, +998-71-233-04-27

Curator of the X Tashkent International Biennale of Contemporary Art:

Sukhrob Kurbanov - Art Critic and Art Historian.

Coordinator of the event:

Asya Tuychiyeva - Head of the Department for International Relations, Academy of Arts of Uzbekistan.

TASHKENT, July 28. /Dunyo IA/. Uzbekistan took 1st place in the ranking of the safest countries in the world "Safety Perception Index 2023", which includes 121 countries, reports Dunyo IA correspondent.

According to Uzbektourism, the rating indicates that the level of danger to the life and movement of citizens in Uzbekistan is minimal.

The five safest countries also included the United Arab Emirates, Saudi Arabia, Norway and Estonia.

Of the Central Asian countries, Kazakhstan took 14th place, Tajikistan – 17th, Kyrgyzstan – 26th.

Guinea, Sierra Leone and Mali took the lowest place in the rating.

The "Safety Perception Index" focuses on five factors: food and water, violent crime, adverse weather conditions, mental health and safety in work settings. These factors serve as an important basis for the formation of an image that will become the basis for the security rating of countries.

The fact that Uzbekistan is in first place in this ranking creates the basis for the unhindered arrival and departure of foreign tourists to our country.

The text of the article is in Russian!

On August 5, President Shavkat Mirziyoyev familiarized himself with the presentation of measures aimed at developing competition.

The ongoing efforts to reduce the state presence in the economy and curb large monopolies have a positive impact on the competitive environment. In particular, over the last five years the competitive environment has improved in more than 25 goods. Exclusive rights that restricted competition in 7 types of activities have been abolished. The number of enterprises with state participation decreased by 42 percent, while the number of private business entities increased by 1.6 times.

Last year the Law "On Competition" was adopted in a new version. The Committee for Competition Development and Consumer Protection was given additional effective powers. According to the studies conducted on this basis, in some organizations there are such phenomena as anticompetitive decision-making, direct contracts, use of dominant position in trade.

In this regard, a Competition Development Framework has been developed to enhance the coverage and effectiveness of competition in this area. This concept defines further tasks to reduce government involvement in the economy, liberalize market access and create a level playing field for entrepreneurs.

Thus, it is planned to abolish regulations and redundant requirements that impede the free access of business entities to markets. It is envisaged to introduce relaxations aimed at reducing the regulatory burden, in particular, permitting procedures and licenses will be replaced by compulsory liability insurance.

Independent market regulators will be introduced in the spheres of natural monopolies. The participation of natural monopoly entities will be limited in commodity markets related to natural monopolies and where there is an opportunity to develop competition.

The scale of direct public procurement will be reduced, and it will be completely switched to competitive methods. It is envisaged to abolish the provision of state aid of an individual nature that restricts competition, including exclusive rights, privileges, preferences and relaxations.

By means of mutual integration of information systems of state bodies, digital monitoring of all links in the chain of pricing of socially important products will be established. A system of non-disclosure and encouragement of persons who have provided information on cases of anticompetitive agreements and actions, collusions will be introduced.

In general, as a result of the implementation of this concept, measures will be taken to gradually eliminate 17 types of state monopoly in a number of areas, such as energy, oil and gas sector, water management, road construction, railroad and airport services. Anti-competitive actions in public procurement will be curbed and transparency of these processes will be ensured. Commodity exchanges will increase supply and expand the choice opportunities for buyers.

The President gave additional instructions to continue work in this area, to ensure free market principles, and to develop entrepreneurship. The need to reduce the state's share in the economy and to gradually transfer certain functions to the private sector was emphasized. The task has been set to constantly analyze the state of competition on commodity, financial and digital markets and to make proposals to improve procedures.

Over the last three years, over 2,000 acts contradicting the competition law have been identified locally. In most cases, these are documents of local khokimiyats and ministries. In this regard, it was noted that it is necessary to intensify the work of territorial departments of the Committee for Competition Development and improve the qualification of personnel.

It was also pointed out the importance of increasing openness and strengthening the work on publicizing the activities of the Committee. It was emphasized that this is important to prevent violations of the law and to create a transparent environment.

In recent years, the deepening cooperation between Uzbekistan and Pakistan has emerged as a significant new strategic direction across Eurasia. Two countries standing at the historic crossroads of ancient trade routes are now consistently building a modern “architecture of connectivity” that permeates all key areas, including the economy, culture, education, and technology. Their shared centuries-old historical roots, dating back to the era of the Great Silk Road, are being transformed into concrete projects and initiatives capable of strengthening economic resilience, ensuring technological independence, and creating a solid foundation for regional integration.

Since the early 2020s, relations between Tashkent and Islamabad have been developing steadily, largely driven by the strong political will of the leaders of both countries. The Joint Declaration on Strategic Partnership between the Republic of Uzbekistan and the Islamic Republic of Pakistan, signed in 2021, set a high pace for bilateral dialogue, opening a new chapter in the history of relations. Regular meetings at the highest level, active consultations between the foreign ministries, and engagement within international forums make it possible to address pressing issues in a timely manner, identify mutually acceptable solutions, and explore promising areas of cooperation.

A vivid confirmation of the strengthening bilateral ties was the official visit of the Pakistan’s Prime Minister Shehbaz Sharif to Uzbekistan in February 2025 and his meeting with President Shavkat Mirziyoyev. The leaders of both countries expressed deep satisfaction with the impressive dynamics of multifaceted cooperation encompassing the economy, investment, transport, digital technologies, and cultural and humanitarian exchanges.

Admiring the achievements of Uzbekistan’s large-scale reforms under the Presidency of Shavkat Mirziyoyev, Shehbaz Sharif stated that “miracles are possible only through a clear vision, high dynamism, hard work, and a resolute pursuit of a common goal.”

The culmination of the Prime Minister’s visit was the establishment of the High-Level Strategic Partnership Council, which imparted a new strategic impetus to bilateral relations. This step not only consolidated the prior agreements but also created a strong institutional platform for systematic cooperation.

The legislative framework of bilateral cooperation plays a key role in strengthening strategic interaction between Uzbekistan and Pakistan. A special contribution in this regard is made by inter-parliamentary friendship groups, which consistently promote legislative initiatives aimed at simplifying business procedures, increasing transparency, and creating a reliable legal environment for the implementation of joint projects. Their work forms a long-term platform of trust that ensures stability and predictability in bilateral relations.

The economic sector, in turn, serves as the most visible indicator of cooperation dynamics. Pakistan confidently ranks among Uzbekistan’s leading trade partners in South Asia, demonstrating strong interest in the Uzbek market. Over recent years, bilateral trade turnover has increased manifold and continues to grow steadily. In 2025, mutual trade exceeded $440 million, which is twelve times higher than in 2016, with particular attention drawn to Uzbek exports amounting to over $320 million.

These figures not only reflect the growing interest of businesses in both countries in expanding mutually beneficial cooperation but also demonstrate the emergence of a more diversified and resilient trade model incorporating new industries and segments. The current environment creates a foundation for further development of investment flows, financial services, and joint projects in mining, energy, and digital technologies, opening additional opportunities for deepening strategic partnership.

In line with agreements reached at the highest level, concrete steps have been outlined to increase bilateral trade turnover to $2 billion in the near future.

An important tool for achieving this goal has been the Preferential Trade Agreement between the Government of the Republic of Uzbekistan and the Government of the Islamic Republic of Pakistan, which provides customs benefits for 17 categories of goods from each side. This significantly facilitates market entry for companies and stimulates the expansion of trade flows.

At the same time, business ties are expanding rapidly. An increasing number of Uzbek and Pakistani companies are finding partners, establishing joint ventures, and exploring new niches. As of October 1, 2025, around 180 companies with Pakistani capital are operating in Uzbekistan, reflecting growing business confidence in joint projects and long-term partnership.

Cooperation spans a wide range of sectors – from the textile and food industries to the production of construction materials, electrical equipment, and logistics. Regular meetings of the intergovernmental commission, business forums, and specialized exhibitions serve as effective platforms for direct dialogue, experience exchange, and contract signing. The agreements concluded at these venues already amount to hundreds of millions of dollars, generating tangible economic returns and laying a solid foundation for further expansion of cooperation.

In 2024, Tashkent hosted the first International Exhibition “Made in Pakistan” and a joint Logistics Forum, featuring more than 80 leading Pakistani companies. These events created a platform for direct business dialogue, demonstrating real opportunities for joint ventures and logistics cooperation.

In turn, a national exhibition “Made in Uzbekistan” was held in Lahore in February 2025, resulting in the signing of 181 bilateral trade agreements worth $500 million. These events clearly illustrate mutual interest in expanding trade turnover and growing business confidence in bilateral cooperation prospects.

Significant progress has also been achieved in investment cooperation. In 2024, $33 million in Pakistani investments were utilized within joint projects, and from January to July 2025 this figure more than doubled, reaching nearly $70 million. This steady growth reflects increasing interest in long-term projects, confirms the stability of the business environment, and opens new opportunities for expanding strategic partnership.

Active work continues on joint projects in the textile, pharmaceutical, perfumery, and agricultural sectors, allowing both sides to strengthen traditional industries while developing new high value-added niches. Notably, Uzbek companies are conducting feasibility studies in Pakistan for the production of household appliances, tractors, smart meters, and modern gas blocks, opening avenues for technological exchange and the adoption of advanced manufacturing solutions.

Particular attention is paid to the digital sphere, where a broad range of promising initiatives is emerging: software development, IT solutions for business and public services, and joint startups and innovation projects. This direction accelerates technological modernization, enhances competitiveness, and facilitates the integration of digital products into key sectors of the economy.

Trade infrastructure development is also a key priority. In 2025, Uzbek trade houses were opened in Lahore and Karachi, with plans to establish Pakistani trade missions in Tashkent and Samarkand. These initiatives simplify market access, stimulate business cooperation, and strengthen trust within the business community.

Thus, the combination of industrial, digital, and infrastructure cooperation creates a multi-level platform for accelerated bilateral development, transforming Uzbek–Pakistani cooperation into a strategically significant and mutually beneficial endeavor.

Transport infrastructure remains a priority area of dialogue. Central and South Asia have historically been interconnected through trade and cultural routes, and today targeted efforts are underway to restore this natural connectivity. Improved logistics, new transport corridors, and simplified transit procedures create real opportunities to boost trade and deepen cooperation. For landlocked Central Asian countries, reliable transport links are a key factor in sustainable growth and regional integration.

One of the flagship projects is the Trans-Afghan Railway, a strategic corridor capable of transforming regional transport networks, strengthening the countries’ positions within the Eurasian economic space, and establishing a solid foundation for trade, investment, and logistics flows between Central and South Asia. By reducing delivery times from several weeks to 3–5 days and cutting transport costs by 40% or more, the route will significantly enhance the competitiveness of regional goods on global markets and stimulate export-import activity.

In 2025, tangible progress was achieved: key components of the feasibility study were prepared, and intergovernmental consultations on the route design and financing terms continue, reinforcing the project’s practical implementation.

Energy cooperation is another vital area with significant joint potential. Projects in geological exploration, oil and gas development, and modernization of processing facilities can ensure strategic energy security, diversify energy sources, and stimulate industrial growth in both countries.

Along with economic cooperation, cultural and humanitarian interaction is actively developing, as the peoples of Uzbekistan and Pakistan share a rich historical heritage rooted in the Silk Road era. This commonality manifests in joint scientific projects, educational initiatives, and cultural exchanges that strengthen human ties and build long-term trust.

In Pakistan, special attention is given to the President Shavkat Mirziyoyev’s concept of the Third Renaissance, viewed as a continuity of Uzbekistan’s rich historical and scientific legacy. The intellectual and spiritual traditions shaped by scholars such as Al-Horezmi, Mirzo Ulugbek, and Zahiriddin Muhammad Babur inspire modern educational and innovation initiatives, reinforcing cultural and intellectual bonds between the two nations.

Tourism deserves special mention as an important component of bilateral cooperation. Uzbekistan, with its unique spiritual and architectural heritage, is increasingly attracting Pakistani tourists and pilgrims. Ancient cities and the mausoleums of prominent scholars – Imam Bukhari, Imam Termezi, and Bahauddin Naqshband – reveal the country’s rich cultural and scientific traditions while strengthening people-to-people ties as enduring as official interstate agreements.

Improved transport connectivity has become a key catalyst. Direct flights between Islamabad and Tashkent, as well as between Tashkent and Lahore, enabled over 10,000 Pakistani tourists to visit Uzbekistan in 2025 – nearly 2.5 times more than in 2023. This data highlights both growing demand for tourism routes and the effectiveness of integration measures in transport and logistics.

Taken together, tourism, cultural, and economic initiatives form a solid platform for deepening connectivity between Uzbekistan and Pakistan. This comprehensive cooperation model not only enhances economic potential but also strengthens long-term trust, making bilateral relations a key component of regional integration between Central and South Asia.

The upcoming visit of President Shavkat Mirziyoyev to Islamabad early February 2026 will mark an important milestone in enhancing strategic partnership. It will open new opportunities for joint initiatives, activate projects in the economy, transport, energy, and digital technologies, and provide additional momentum to cooperation, enhancing its practical impact and strategic significance.

Today, it is especially important to maintain the high momentum of interaction, expand practical cooperation mechanisms, cascade dialogue to lower governance levels, and more actively engage regions, small and medium-sized enterprises, the academic community, youth, and civil society institutions. Such a comprehensive approach will not only consolidate achievements but also ensure sustainable growth of mutual cooperation, creating a platform for new joint projects and initiatives at all levels.

Thus, the “bridges of friendship” built between Uzbekistan and Pakistan – rooted in shared history, traditions, and spiritual affinity – connect the past and present while opening the way for deeper comprehensive cooperation. They transform traditional mutual trust into sustainable and long-term partnership forms that will serve as a foundation for expanding interaction at all levels, from local initiatives to strategic projects of regional significance.

Nigora Sultanova,

Chief Research Fellow at the Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan

Starting January 1, 2026, Value-Added Tax will be exempted for Farmers and Dehkan producers

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Almost half of the population of the Republic of Uzbekistan lives in rural areas. Millions of hardworking individuals in these communities play a crucial role in ensuring the country’s food security and establishing a solid foundation for the export of agricultural products. The nation’s development cannot be limited solely to urban centers; it is equally important to ensure that life in rural and peripheral regions is comfortable and sustainable.

The care for rural residents and the stimulation of their activities merit special attention from both the state and society. Governmental support measures have become pivotal in strengthening the agricultural sector.

However, the agricultural industry still faces significant challenges, including high tax burdens and limited access to financing, which contribute to the expansion of the informal economy. According to various estimates, up to half of agricultural producers operate outside the legal framework, resulting in reduced profitability and hindering sectoral development. Without genuine incentives to transition towards a formal economy, the agrarian sector’s capacity for investment and modernization will remain constrained.

In this context, the introduction of a zero rate of Value Added Tax (VAT) starting January 1, 2026, for farmers and dehkan producers selling their own products—including vegetables, fruits, meat, milk, eggs, and other food items—is a timely and significant measure. Producers of grain and cotton are excluded from this provision, as these sectors are regulated through state-managed clusters.

The existing practice of VAT refunds on expenses related to the production of seeds, fertilizers, fuel, logistics, electricity, and other operational costs will remain in place. As a result, farmers are expected to save up to 700 billion Uzbek soms annually.

The zero VAT rate will reduce the tax burden, increase farmers’ net income, and enable the allocation of additional funds toward modernization.

According to projections, farm profitability is expected to rise from 5–7 percent to approximately 15 percent. This measure will also facilitate more accurate planning of subsidies and incentives.

Another positive impact will be the growth of domestic processing industries. When products are processed locally, demand for investment in processing facilities and export logistics chains increases, leading to job creation and improved working conditions.

The reorientation of agriculture towards food crops has been one of the strategic priorities pursued in recent years.
Areas allocated to cotton and grain cultivation are being reduced, while orchards, vineyards, and vegetable crops are being developed instead. Approximately 1,500 food production projects have already been implemented, with a total investment of around one billion dollars.

The introduction of a zero VAT rate will further stimulate processing and export activities, strengthening the potential of the agro-food sector and enhancing the competitiveness and attractiveness of its products on the international market.

For farmers and dehkans, this presents an opportunity to retain a significant portion of their income. The savings can be directed towards farm development, improving working and living conditions, and modernizing production processes. Rural areas will benefit from job creation, technology influx, higher product quality, and a favorable environment for sustainable development.

For the state, this translates into a reduction of the shadow economy, increased transparency in reporting, and more accurate planning of support measures, tax incentives, and development programs. For society at large, it means access to higher quality and more affordable food products, enhanced resilience of the rural economy, and the strengthening of domestic agro-industrial value chains.

Nadira RASHIDOVA,

Member of the Legislative Chamber of the Oliy Majlis.

A study conducted by the Center for Economic Research and Reforms has revealed a large-scale transition of Uzbekistani households to energy-saving technologies. The widespread adoption of energy-efficient solutions has enabled nearly 90% of households to implement at least one measure to reduce energy costs.

One of the key changes has been the widespread adoption of energy-efficient solutions at the household level.

The most common practice has been the installation of LED lighting. Overall, 87% of households have switched to LED lighting. In some regions, such as the Republic of Karakalpakstan and Khorezm, Navoi, and Tashkent regions, this figure exceeded 90%.

A total of 44% of households improved the thermal insulation of windows and doors through the installation of plastic structures, with particularly high activity in Kashkadarya (84%), Bukhara (69%), and Khorezm (54%) regions.

Additionally, 31% of households purchased energy-efficient household appliances, with the highest shares observed in Jizzakh (60%), Navoi (59%), and the Republic of Karakalpakstan (54%).

There is also growing interest in the use of renewable energy sources. More than half of owner households expressed satisfaction with the results and interest in expanding generation capacity.

The analysis indicates that potential demand for solar panels among the population amounts to approximately 1.9 million households, opening prospects for the formation of a domestic market valued at over $2.3 bn.

At the same time, a share of consumption through less efficient heating sources remains, including outdated gas boilers and solid-fuel stoves.

Potential for Improving Building Energy Efficiency

According to estimates, insulating the exterior walls of apartment buildings, modernizing heating systems, and replacing doors and windows could yield savings of more than $60 mln per year.

According to the World Bank, similar potential exists in social facilities, healthcare institutions, preschools, and public schools. Targeted investments to improve the energy efficiency of these facilities could reduce energy consumption by 20–50%, equivalent to a reduction of up to 7.1 bn kWh per year.

Thus, the measures being implemented in Uzbekistan to enhance energy efficiency serve as an important driver of economic growth.

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