Tashkent, Uzbekistan (UzDaily.com) — On 13 January 2025, ahead of the official visit of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, to the United Arab Emirates, a ceremony was held in Abu Dhabi to sign several bilateral documents aimed at implementing joint projects.

The event was led by the Minister of Investments, Industry, and Trade of the Republic of Uzbekistan, Laziz Kudratov, and the Minister of Energy and Infrastructure of the UAE, Suhail Mohamed Al Mazrouei.

In his welcoming speech, Laziz Kudratov highlighted the steady growth in trade, economic, and investment cooperation between Uzbekistan and the UAE, which has been made possible by mutual trust at the highest levels.

Since 2021, the mutual trade turnover between the two countries has been steadily increasing by more than 20% annually and is expected to approach US$650 million by the end of 2024.

There are 337 enterprises with UAE capital operating in Uzbekistan, including 114 joint ventures and 223 foreign enterprises. In 2023, US$1.08 billion was allocated for investment projects, and in 2024, this amount exceeded US$1.5 billion.

Joint projects cover a wide range of sectors, including traditional and alternative energy, infrastructure, chemistry, geology, information technology, agriculture, transport, and logistics.

As part of bilateral cooperation, the "Uzbekistan-UAE Investment Company" was established, with an investment portfolio of US$200 million. It includes 7 projects totaling US$192.5 million in fields such as healthcare, geology, agriculture, and tourism. Another 9 projects totaling US$140 million are in development.

However, the results achieved so far do not yet reflect the full economic potential of the two countries. Therefore, comprehensive measures are being taken to further increase the volume of cooperation.

The documents signed today represent an important step in this direction. They are the result of active interaction between ministries, departments, and business circles, reflected in 15 signed agreements. These open a new chapter in the investment relationship between Uzbekistan and the UAE.

Subsequently, investment agreements and contracts were signed in areas such as energy, healthcare, agriculture, infrastructure development, water supply, transport, and logistics with leading companies such as AMEA Power, Masdar, Solar Power Shine, M42, Burjeel Holdings, IFFCO Group, TWS, Alserkal Group, Metito, AD Ports, Jetex, Emirates Group, and others.