Latest news with #DunyoIA
See - Sada Elbalad
14-07-2025
- Business
- See - Sada Elbalad
Obid Khakimov: Uzbekistan's Initiatives Energize Cooperation in Bilateral & Multilateral Formats
Dunyo IA From July 2 to 4, President of Uzbekistan Shavkat Mirziyoyev paid a state visit to Azerbaijan, during which the second meeting of the High-Level Intergovernmental Council was held. On July 4, the Uzbek leader also took part in the 17th Summit of the Economic Cooperation Organization (ECO), where he outlined priorities for the organization's development amid growing geopolitical instability. Uzbekistan and Azerbaijan are both members of ECO. Therefore, the alignment of the Uzbek President's state visit with participation in the ECO Summit allowed for a coordinated review of cooperation priorities, not only with strategic partner Azerbaijan but also with other ECO member states. In recent years, Uzbekistan and Azerbaijan have seen dynamic growth in trade, economic, and investment cooperation, highlighting the strategic nature of their bilateral relationship. Over the past eight years, trade turnover has seen impressive growth. Bilateral trade grew 7.8 times, reaching $253 million. Uzbek exports to Azerbaijan increased 7.5-fold to $208 million, while imports grew ninefold to $45 million in 2024. Investment cooperation has also intensified, with joint projects in industry, agriculture, energy, and pharmaceuticals. In 2017, investments from Azerbaijan to Uzbekistan totaled just $142,000, while in 2024 they reached $79.5 million. The Azerbaijan–Uzbekistan Investment Company, with authorized capital of $500 million, is operational. The number of enterprises in Uzbekistan with Azerbaijani capital rose from 178 in 2019 to 278 by April 2025. Conversely, in Azerbaijan, Uzbek capital has facilitated projects such as automobile assembly, and the creation of silkworm and textile clusters. In the city of Hajigabul, a production line by UzAuto Motors JSC and SamAvto JV LLC was launched at the Azermash CP plant. In agriculture, Azerbaijan is testing several Uzbek cotton varieties, while Uzbekistan plans to cultivate high-yield Azerbaijani hazelnut seedlings. A joint investment project in Azerbaijan's sericulture sector is also underway. This dynamic cooperation is further supported by a research model developed in 2023 under the initiative of the President of Uzbekistan to create a forum of think tanks for expanding trade among Turkic states. Joint research by the Center for Economic Research and Reforms (CERR) and Azerbaijani analytical institutions resulted in 33 concrete proposals for bilateral cooperation, approved by the Cabinet of Ministers of Uzbekistan and currently under implementation. Ahead of the state visit, the first Interparliamentary Forum was held in Khiva, and a Regional Forum convened in Baku. Recently, Andijan hosted the inaugural Rectors' Forum. Uzbekistan is also preparing to establish an 'Azerbaijan' Park and the 'Sea Breeze' tourism complex. During the visit, construction of the 'Uzbekistan' Park began in Baku, and a new building for the Uzbek Embassy was inaugurated. The Head of our state emphasized that the visit took place in the year marking the 30th anniversary of diplomatic relations. The sides agreed to take joint measures to increase bilateral trade and investment volumes to $1 billion in the coming years. A separate Program for Trade Promotion and Cooperation was adopted. The joint investment company's activities will be expanded, and new formats like the Business Council and the Forum of Industrial and Economic Zones will be launched. Special attention was given to strengthening transport connectivity. The Middle Corridor is rapidly developing, linking the two nations and offering access to strategic routes. E-permits have been introduced, and Uzbek freight traffic through the corridor has increased by 25%, with annual volumes now exceeding one million tons. Agreement was also reached to accelerate a joint project on electricity exports to Europe. While progress has been made, Uzbekistan and Azerbaijan's trade and investment potential remains underutilized. Joint production of goods currently imported from third countries presents strong opportunities. Further potential lies in combining efforts in areas of mutual advantage, such as viticulture, pomegranate cultivation, and agro-processing. Joint entry into third-country markets with agricultural products could strengthen competitiveness and open new niches. Agreements from the state visit will enhance cooperation in industry, agriculture, digital technology, and logistics. The 17th ECO Summit was held in Khankendi under the theme 'A New Vision for a Reliable and Climate-Resilient Future', concluding the ECO Week in the Karabakh region. At the 16th ECO Summit (Tashkent, 2023), President Shavkat Mirziyoyev proposed a strategic document – 'Economic Cooperation Goals 2035' – to address trade barriers, digitalize customs and sanitary procedures, and double mutual trade by 2035 through e-commerce. In 1996, Uzbekistan signed free trade agreements with Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan. Preferential trade agreements were signed with Pakistan, Turkey, and Iran in 2023, and with Afghanistan in 2024. Between 2017 and 2024, Uzbekistan's trade with ECO countries more than doubled from $5.3 billion to $12.2 billion. Exports grew 1.7 times (from $3.3 billion to $5.6 billion), and imports tripled (from $2 billion to $6.6 billion). However, the ECO's share in Uzbekistan's total foreign trade declined from 19.9% to 18.5%, with exports falling from 26.2% to 20.7%, and imports rising from 14.3% to 17%. In 2024, ECO countries invested $2.7 billion in Uzbekistan, a dramatic increase from just $9.6 million in 2017. Turkey accounted for $1.8 billion (68.6%), followed by Kazakhstan ($358.5 million), Iran ($161.5 million), Azerbaijan ($79.5 million), Afghanistan ($72.9 million), and Kyrgyzstan ($60.4 million). Uzbekistan hosts thousands of ECO joint ventures across textiles, food processing, electrical goods, pharmaceuticals, construction, logistics, and services. As of May 1, 2025, there were 5,275 active enterprises with ECO investment – 33% of all foreign-invested joint ventures. Turkish capital accounted for 1,964 (37.2%). At the Khankendi Summit, President of Uzbekistan praised the organization's achievements since the 2023 Tashkent Summit and noted the low volume of mutual trade – $95 billion in 2024, or 10% of the bloc's external trade. He called for trade facilitation, gradual elimination of non-tariff barriers, and development of e-commerce. He proposed hosting an ECO trade ministers' meeting in Tashkent and the creation of 'green corridors' for seamless agricultural trade. He urged the adoption of the 'Strategic Goals of Economic Partnership – 2035' concept, emphasizing cooperation in innovation, AI, and digital technology. A proposed 'EcoInvest' program would attract private investors and financial institutions to regional projects. He also advocated for creating a Digital Transport and Customs Agency and launching new regional air routes and joint tourism-aviation strategies. A forum of national airlines is proposed for Samarkand. On climate, he proposed a transboundary green program to create forests and recreational zones in desert areas. He also called for specific recommendations on reforming the organization before the next summit. Following the summit, ECO leaders agreed to strengthen cooperation in trade, connectivity, and green transformation – priorities Uzbekistan has consistently promoted. They reaffirmed commitments to the SDGs and deepening ties in tourism, energy, science, education, and culture. The 'Strategic Economic Goals – 2035' concept is advancing, incorporating ideas voiced at the Karabakh ECO Week. This initiative was proposed at the Tashkent ECO summit and has been consistently promoted by the President of Uzbekistan as a key factor in strengthening the economic interconnectedness of the ECO and forming regional value chains. In the current challenging conditions, when the international community is facing a severe crisis and most conflicts and contradictions are occurring in the ECO region, the President of Uzbekistan emphasized at the beginning of his speech at the summit that the foundation of peace and development is, above all, economic cooperation. Therefore, partnership within the ECO framework today holds significant strategic importance. read more Analysis- Turkey Has 0 Regional Allies... Why? Analysis: Russia, Turkey... Libya in Return For Syria? 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See - Sada Elbalad
19-05-2025
- Business
- See - Sada Elbalad
Uzbekistan and Hungary: Strategic partnership in a new era
Dunyo IA President of Uzbekistan Shavkat Mirziyoyev will pay an official visit to Hungary from May 19 to 21 and will also take part in the informal summit of the Organization of Turkic States, which will be held in Budapest. Diplomatic relations between Uzbekistan and Hungary were established on 14 March 1992, shortly after Uzbekistan's independence. Since then, bilateral cooperation has undergone a significant evolution - from formal interaction to building a constructive and mutually respectful dialogue. The foundation for today's intensive cooperation was laid in March 2021, when, following the visit of Prime Minister of Hungary Viktor Orbаn to Tashkent, a Joint Declaration on Strategic Partnership was signed. This document solidified the parties' intention to elevate relations to a qualitatively new level. Today, the political dialogue between the two countries is characterized by a high degree of dynamism. Beyond Viktor Orbаn's visit to Uzbekistan, the official visit of President of Uzbekistan Shavkat Mirziyoyev to Hungary in October 2022 warrants particular attention. As a result of the high-level negotiations, 16 bilateral documents were signed, covering a wide range of areas - from industrial cooperation and scientific-technical interaction to academic exchanges. The visit also included an Uzbek-Hungarian business forum, in which leading representatives of the business communities of both countries participated. Currently, active cooperation is underway both bilaterally and in multilateral formats. Interstate interaction is underpinned by an extensive legal framework comprising over 50 bilateral documents. Key among these are agreements on the mutual protection of investments, cooperation in the fields of science, innovation, agriculture, water management, as well as interdepartmental memorandums in education, healthcare, and high technology. This scale of legal formalization demonstrates a deliberate strengthening of the institutional basis of the relationship. Inter-parliamentary cooperation between Uzbekistan and Hungary plays a vital role in solidifying the strategic partnership between the two countries, supporting the institutional foundation for political dialogue, economic interaction, and humanitarian exchanges. This mechanism not only strengthens the basis of the strategic partnership but also serves as an important channel for the exchange of experiences, the coordination of legislative initiatives, and the development of common approaches to international challenges. In 2020, inter-parliamentary cooperation groups were established in the Oliy Majlis of Uzbekistan and the National Assembly of Hungary. This format of interaction contributes to the growth of political trust and the sustainability of the partnership. Moreover, parliamentary diplomacy is increasingly utilized as an instrument for promoting humanitarian initiatives, supporting academic and youth exchanges, and expanding economic ties. Fruitful cooperation has also been established between the foreign policy departments of the two countries. A prime example of this was the signing of the inter-ministerial Cooperation Program for 2024-2026 during the visit of Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó to Uzbekistan. Trade and economic cooperation remains a key factor in the development of Uzbek-Hungarian relations. The volume of bilateral trade turnover has a significant potential for growth and the sides are steadily increasing their trade relations. If according to the data for 2024, trade between the countries exceeded 78 million US dollars, in January-March of this year this figure was 25.1 million dollars, demonstrating stable growth. The Uzbek-Hungarian Intergovernmental Commission on Economic Cooperation holds particular significance in the process of establishing trade and economic ties. The ninth meeting of the commission took place in Tashkent in May 2024. As a result, a number of bilateral documents were signed, including a memorandum of understanding between the chambers of commerce and industry of both countries. Issues related to the implementation of bilateral agreements were discussed, including the creation of a Special Industrial Zone for Hungarian companies in the 'Angren' Free Economic Zone. An investment agreement for the implementation of this project was signed in October 2024. The activities of the Uzbek-Hungarian Business Council, established in 2021, and the Uzbek-Hungarian Development Fund, founded in 2022, occupy a special place in the economic dialogue. The primary objective of the latter is to finance joint investment projects. In 2023–2024, the fund supported initiatives worth over €100 million, including the establishment of manufacturing facilities, the modernization of agricultural infrastructure, and the introduction of digital solutions in resource management. Hungary is now consistently among the most active European investors in Uzbekistan. The main areas of economic interaction are pharmaceuticals, the agro-industrial complex, the food industry, mechanical engineering, and water technologies. Currently, 17 enterprises with Hungarian capital participation are operating in Uzbekistan, including 10 joint ventures and 4 with 100% Hungarian capital. In the context of the reform and privatization of state-owned banks in Uzbekistan, interaction in the banking sector is becoming an important area of cooperation. In December 2022, an agreement was signed between OTP Bank and the Ministry of Finance of Uzbekistan on the phased acquisition of 100% of the shares of Ipoteka-Bank. Business forums, missions, and B2B meetings have become a regular practice. Representative Hungarian delegations, led by heads of ministries in the economic sector, have become traditional participants in the annual Tashkent International Investment Forum. Over the past two years alone, a number of major business events have been held, including a business forum in Tashkent and a road show of Uzbek companies in Budapest. These platforms facilitate the formation of sustainable contacts between business circles, the establishment of supply chains, and cooperation in the real sector of the economy. Cultural and humanitarian cooperation remains an important area in the development of bilateral interaction. One of the most prominent symbols of the historical and cultural ties between Uzbekistan and Hungary is the Hungarian orientalist, Turkologist, and traveler Ármin Vámbéry (1832-1913). His scientific and research activities related to modern Central Asia, particularly the territory of Uzbekistan, laid a solid foundation for intercultural dialogue that continues to this day. Currently, educational programs of the University of Debrecen are operating in Uzbekistan, and projects on academic exchanges, internships, and scientific research are being implemented. Hungarian universities, including Semmelweis University, are open to students from Uzbekistan, especially in the fields of medicine, engineering, and agriculture. Annually, the Hungarian government, through the Stipendium Hungaricum program, allocates 170 scholarships for Uzbek students wishing to continue their studies at universities in that country. Cultural initiatives include the organization of cultural days, concerts, photo exhibitions, and presentations of national traditions. The Hungarian capital hosts a Center for Uzbek Language and Culture, which has become a platform for dialogue between the two peoples. In 2020, the exhibition 'Hungarian Dervish in Central Asia,' dedicated to the life and travels of Ármin Vámbéry, was organized in Budapest. It featured manuscripts, historical exhibits, and items from the scholar's personal museum, collected during his travels in Uzbekistan. The exhibition was visited by more than 5,000 people, indicating a high level of interest in the history and culture of our country in Hungary. Further evidence of this was the opening in October 2024 of a monument to the Uzbek poet Alisher Navoi in the Hungarian city of Lakitelek, created by Hungarian sculptor György Lantosh. In January 2025, the Days of Uzbek Cinema were held for the first time in Budapest to great success, becoming a significant event in strengthening cultural ties between Uzbekistan and Hungary. The Hungarian public received modern Uzbek films with great interest, reflecting the diversity of themes and genres of national cinema. Ties between libraries, museums, and creative unions are also actively developing. Hungary is also interested in studying and promoting the Turkic cultural heritage, which contributes to the development of joint scientific and archaeological expeditions. In conclusion, Uzbek-Hungarian relations are on the rise, demonstrating examples of mature, balanced, and multifaceted interaction. They confirm that geography and historical differences is not an obstacle to building strong cooperation based on strategic thinking, mutual understanding, and a forward-looking approach. Given the current dynamics, it can be confidently stated that Uzbekistan and Hungary are entering a new stage of partnership, where mutual interests find realization in concrete projects and proactive solutions. Of particular importance is cooperation within the Organization of Turkic States (OTS), where Hungary has been an observer since 2018. This participation allows Budapest to build close ties with Turkic-speaking countries and contribute to interregional integration. Cooperation within the OTS provides Uzbekistan and Hungary with unique opportunities to implement joint projects in transport, energy, digitalization, education, and ecology. In the context of global changes and the growing role of regional alliances, Hungary is viewed by Uzbekistan as a partner capable of facilitating the deepening of ties with the European Union while simultaneously supporting the initiatives of the Turkic world. In this regard, the upcoming official visit of the President of Uzbekistan to Hungary is intended to solidify the agreements reached and define new horizons for the partnership. Its timing, coinciding with the informal summit of the OTS, underscores the trusting nature of the dialogue and the high degree of political synchronization between the two countries. read more Analysis- Turkey Has 0 Regional Allies... Why? Analysis: Russia, Turkey... Libya in Return For Syria? Analysis: Who Will Gain Trump's Peace Plan Fruits? Analysis: Will Turkey's Erdogan Resort to Snap Election? Analysis: What Are Turkey's Aspirations in Iraq? Opinion & Analysis Analysis: Mercenaries In Libya... Who Should Be Blamed? Opinion & Analysis Analysis- How 'Libya Nightmare' Takes Erdogan to Algiers Opinion & Analysis Analysis: What Happens After Brexit? Opinion & Analysis Analysis: Strategic Significance of Libya's Sirte, Jufra! 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See - Sada Elbalad
03-04-2025
- Business
- See - Sada Elbalad
EU-Central Asia: Regional Consolidation, Global Partnership
Dunyo IA On Friday, the first 'Central Asia - European Union' official summit will be held in Samarkand, under the chairmanship of the President of Uzbekistan, Shavkat Mirziyoyev. This event is set to become a significant political milestone and will mark the beginning of a new phase in the relationship between the two regions. An important prerequisite for the institutionalization of this format were the meetings of the leaders of Central Asian countries and the European Union in Astana and Cholpon-Ata in 2022 and 2023. The holding of the Samarkand summit demonstrates that the interaction between the countries of the Central Asian region and the EU has reached a new level, as well as the high strategic importance of the dialog for both sides. It is important to note that the initiative to launch the 'European Union-Central Asia' format at the highest level was put forward by the President of Uzbekistan Shavkat Mirziyoyev in 2022 during the Astana meeting of the heads of Central Asian states and the President of the European Commission Charles Michel. This initiative is in line with Uzbekistan's foreign policy doctrine, which prioritizes efforts to consolidate Central Asia and achieve sustainable development in the region, including through the development of effective international cooperation. In general, the integration processes in Central Asia, launched thanks to Uzbekistan's regional policy, have contributed to the growing interest of the European Union to intensify multifaceted cooperation with the region. This is evidenced by the adoption in 2019 of an updated EU strategy for Central Asia, which laid a new policy framework for the EU's engagement with the countries of the region. The updated strategy adapts EU policy to the new opportunities in the region and emphasizes its growing strategic importance. In the short period since the first meeting of Central Asian and EU leaders in Astana, much work has been done to develop a constructive political dialogue and multifaceted partnership. In particular, a High-Level Conference on Interregional Connectivity was held, with a special focus on promoting projects in the areas of digitalization, transport communications, energy and water management, including within the framework of the European 'Global Gateway' strategy. A number of important regional projects were launched in the field of vocational education and sustainable energy system in Central Asia. The Civil Society Forum, the second Economic Forum and the annual meeting of the Board of Governors of the European Bank for Reconstruction and Development were successfully held. Ministerial meetings and the European Union-Central Asia High-Level Dialogue on Politics and Security have been held regularly. These events demonstrate the willingness of the sides to make qualitative changes in the mutually beneficial dialog. Uzbekistan is taking an active position in the European Union-Central Asia multilateral format, while taking bilateral relations to a new stage of engagement. In an interview with Euronews ahead of the first 'Central Asia – European Union' summit in Samarkand, the President of Uzbekistan, Shavkat Mirziyoyev, stated: 'We highly appreciate the European Union's support for our aspirations for the region's openness, prosperity and strengthening of its subjectivity. It is particularly important that the EU shares our goal of transforming Central Asia into a united and dynamic region, ready for open and equal partnership with all stakeholders'. Since 2016, when political developments in our country paved the way for closer international cooperation and improved conditions for investment and growth, the European Union has been supporting Uzbekistan's ambitious transformation, which is crucial for ensuring more inclusive economic growth and improving the lives of citizens. In 2018, the EU and Uzbekistan started negotiations on an Enhanced Partnership and Cooperation Agreement (EPCA), which demonstrates a shared interest in modernizing and deepening relations. The Enhanced Partnership and Cooperation Agreement is initialed by the parties in July 2022. The new agreement will replace the current one, signed in 1996, and will expand the framework of relations both in economic terms and in other areas, bringing them more in line with today's realities. In recognition of the ongoing fundamental reforms, our country was granted 'GSP+' status on April 10, 2021, which opened new economic and trade opportunities. An important event in the history of Uzbekistan-EU relations was the visit of European Council President Charles Michel to Tashkent in October 2022, during which key issues of bilateral cooperation were discussed, including EU support to reform, gender equality and successful partnership in the spheres of trade and investment. The rapid development of Uzbek-European relations is also evidenced by the dynamics of mutual visits at the highest level. Thus. Uzbek President Shavkat Mirziyoyev visited France (October 2018, March 2025), Germany (January 2019, May 2023), Italy (June 2023). In turn, European leaders have also paid official and state visits to Uzbekistan: French President Emmanuel Macron (November 2023), German Federal President Frank-Walter Steinmeier (May 2023), Italian President Sergio Materella (November 2023), German Federal Chancellor Olaf Scholz (September 2024). As a result of these visits, solid packages of documents were signed on the development of cooperation in various areas, the total amount of which exceeds tens of billions of dollars. An important step in strengthening cooperation with the European Union was the approval of the Multi-Year Indicative Program of EU financial and technical assistance to Uzbekistan for 2021-2027, which opens new horizons for cooperation in such areas as digitalization, 'green' economy, energy efficiency and water use. Humanitarian projects are also being actively developed under these programs, including cultural exchanges and cooperation with the Louvre and the New Museum in Berlin, which allows Uzbekistan's rich cultural heritage to be presented in the international arena. These successes, covering political-diplomatic, trade-economic, investment, tourism, cultural and humanitarian spheres, confirm the qualitative changes in relations between Uzbekistan and the EU, enhancing the image of Central Asia as an important and promising region in the international arena. The holding of the first official summit in the 'European Union-Central Asia' format in Uzbekistan, namely in the historic city of Samarkand, is a recognition of the country's consolidating role in the integration processes in the region and its active efforts to strengthen regional interaction and expand international cooperation on the platforms of 'Central Asia+'. The outcomes of the upcoming summit are expected to open up broad prospects for both Central Asian countries and the EU, creating a solid basis for deepening economic, investment and humanitarian ties, expanding trade opportunities and implementing joint initiatives that will contribute to sustainable development, stability and prosperity of the two regions. read more Analysis- Turkey Has 0 Regional Allies... Why? Analysis: Russia, Turkey... Libya in Return For Syria? Analysis: Who Will Gain Trump's Peace Plan Fruits? Analysis: Will Turkey's Erdogan Resort to Snap Election? Analysis: What Are Turkey's Aspirations in Iraq? Opinion & Analysis Analysis: Mercenaries In Libya... Who Should Be Blamed? Opinion & Analysis Analysis- How 'Libya Nightmare' Takes Erdogan to Algiers Opinion & Analysis Analysis: What Happens After Brexit? Opinion & Analysis Analysis: Strategic Significance of Libya's Sirte, Jufra! 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See - Sada Elbalad
17-02-2025
- Business
- See - Sada Elbalad
President of Uzbekistan to Pay Official Visit to Kuwait
The President of Uzbekistan, Shavkat Mirziyoyev will visit Kuwait on February 17-18 at the invitation of Emir of Kuwait Mishaal Al-Ahmad Al-Jaber Al-Sabah, reports Dunyo IA correspondent. According to the press service of the President of Uzbekistan, during the visit to Kuwait City, high-level bilateral talks will take place, along with meetings with the leadership and members of the government, heads of leading Kuwaiti companies, and representatives of banking and financial structures. The agenda of the upcoming summit is expected to include discussions on the further development and deepening of Uzbek-Kuwaiti relations of friendship and multifaceted partnership, as well as expanding cooperation in key areas such as trade, innovation, investments, finance, green energy, industrial cooperation, agriculture, transportation and logistics, infrastructure, urban planning, healthcare, and more. The expansion of cultural, humanitarian and tourism exchanges will also be a focus. Additionally, the leaders of Uzbekistan and Kuwait will address relevant aspects of international politics and regional cooperation. Following the talks, a package of joint documents and agreements is expected to be adopted.
