Tashkent, Uzbekistan (UzDaily.com) — On 7 February, the Uzbek-Mongolian Business Forum and the inaugural meeting of the Business Council were held in Tashkent under the co-chairmanship of Deputy Prime Minister of the Republic of Uzbekistan Jamshid Khodjayev and Deputy Prime Minister of Mongolia Amarsaikhan Sainbuyangiin.

The event brought together Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan Dilshod Rasulov, President of the National Chamber of Commerce and Industry of Mongolia Tur-Od Lkhagvajav, heads of relevant ministries and agencies, over 100 Uzbek entrepreneurs, and representatives of more than 40 Mongolian companies.

In his welcoming speech, Jamshid Khodjayev expressed gratitude to the Mongolian delegation for their strong participation and conveyed confidence that the forum would serve as an effective platform for expanding business ties and implementing new joint projects.

Special attention was given to the systemic reforms being carried out in Uzbekistan, aimed at improving the investment climate, increasing export potential, and accelerating business development, as well as the gradual removal of obstacles and the creation of a favorable business environment. It was noted that Uzbekistan and Mongolia have significant potential for mutually beneficial cooperation in transport, geology, agriculture, livestock breeding, and other industries.

It should be noted that in 2024, the volume of bilateral trade increased by nearly 50%, reaching US$20.8 million. Currently, there are 17 enterprises with Mongolian capital operating in Uzbekistan, including five joint ventures and 12 wholly Mongolian-owned enterprises engaged in trade, services, medicine, and manufacturing.

During the forum, foreign guests were introduced to Uzbekistan’s favorable business conditions, investment potential, and vast opportunities in sectors such as digital technology, education, pharmaceuticals, agriculture, and food production.

Additionally, Uzbekistan reaffirmed its commitment to comprehensively supporting the successful implementation of joint projects and ensuring all necessary conditions for Mongolian companies to operate comfortably in the country.

At the conclusion of the main part of the forum, a Memorandum of Understanding was signed between the Uzbekistan Accreditation Center and the National Accreditation Body of Mongolia to strengthen bilateral cooperation.

The forum also featured B2B and G2B meetings, where participants discussed practical aspects of establishing joint ventures and signing mutually beneficial trade agreements.