Tashkent, Uzbekistan (UzDaily.com) — Minister of Investments, Industry, and Trade of Uzbekistan, Laziz Kudratov, held talks with the British Ambassador to Uzbekistan, Timothy Smart.

During the meeting, the parties discussed key issues related to trade, economic, and investment cooperation, as well as the coordination of a joint action plan for 2025.

The positive momentum in bilateral relations was highlighted. By the end of 2024, the volume of mutual trade had reached US$352 million. Currently, 260 British-invested enterprises are successfully operating in Uzbekistan across various sectors, including agriculture, food production, mining, pharmaceuticals, textiles, chemicals, trade, and services. In 2024, direct investments from the UK exceeded US$1 billion.

The parties reviewed proposals to expand the range of Uzbek products exported to the UK and explored opportunities to deepen investment cooperation. In this regard, they agreed on measures to organize joint events, seminars, and workshops aimed at increasing awareness among business representatives, civil society, and government institutions about the benefits of accessing the British market under the Developing Countries Trading Scheme.

Special attention was given to the creation of joint ventures in Uzbekistan with British investors, which would not only boost production but also ensure stable export supplies, including through long-term contracts with leading UK retail chains.

The British side also proposed new trade facilitation mechanisms, which are expected to be formalized through a document approved by the Uzbek-British Intergovernmental Commission on Trade and Economic Cooperation. Additionally, the UK government’s Export Credit Agency (UKEF) expressed its willingness to finance a number of joint projects and trade agreements.

At the conclusion of the negotiations, both sides reaffirmed their commitment to further developing and deepening bilateral cooperation in all discussed areas.