Uzbekistan and UAE to increase trade turnover 10 times by 2030

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Presidents of Uzbekistan and the UAE Discuss Strategic Partnership in Abu Dhabi

On January 15, Uzbekistan’s President Shavkat Mirziyoyev and United Arab Emirates (UAE) President Sheikh Mohammed Al Nahyan held talks in Abu Dhabi, both in a restricted format and with the participation of official delegations, Gazeta.uz reports.

The presidents discussed ways to deepen Uzbek-Emirati relations across key areas, including political, trade, economic, investment, innovation, and cultural-humanitarian cooperation.

It was emphasized that the visit of Uzbekistan’s president to the UAE marks a new chapter in bilateral relations, elevating them to the level of strategic partnership.

In recent years, trade turnover and investments have significantly increased, along with the number of joint ventures. Direct flights have become more frequent, and a visa-free regime has been introduced, as noted during the meeting.

As part of the visit, a substantial portfolio of new projects has been developed with leading Emirati companies, mainly in high-tech industries. Fifteen agreements and memorandums have been signed, including a joint project with Jetex for VIP and CIP client services at the new Tashkent-East airport, as well as the introduction of air taxi and VIP taxi services.

To strengthen political ties, the leaders emphasized the importance of deepening dialogue between the foreign ministries of both countries.

The two leaders also identified six key areas for a new economic cooperation model:

  • Artificial intelligence
  • Digitalization
  • Green energy
  • Urban development and infrastructure
  • Tourism
  • Private sector growth

They agreed to create separate working groups for each priority area.

Both sides supported the proposal to declare 2025–2027 as the "New Era of Economic Partnership between Uzbekistan and the UAE." A key goal is to increase mutual trade tenfold by 2030 and expand the investment portfolio to $50 billion.

According to the Agency of Statistics, from January to September 2024, the trade volume between Uzbekistan and the UAE amounted to $472.2 million, with exports reaching $179.9 million and imports $292.3 million.

The business communities of both countries expressed interest in strengthening ties and expanding Emirati investment in Uzbekistan.

Special attention was given to expanding cultural and humanitarian exchanges.

President Mirziyoyev proposed launching a joint program for training highly qualified specialists and conducting AI research in collaboration with Mohamed bin Zayed University.

The talks also covered preparations for upcoming high-level events, including the second summit of the "Central Asia – Gulf Cooperation Council (GCC) Dialogue," set to take place in Samarkand this year.

The leaders also exchanged views on key international issues.

CentralAsianLIGHT.org
January 15, 2025