Uzbekistan is set to enhance its trade relations with the United Arab Emirates by opening permanent showrooms and trading houses in Dubai. This initiative was announced by the press service of the Chamber of Commerce and Industry (CCI) following a significant forum held on September 27.
During the forum, the Chambers of Commerce and Industry of Uzbekistan and Dubai signed a memorandum of cooperation, laying the groundwork for future collaboration. Discussions focused on several key areas, including "green" energy, agriculture, tourism infrastructure, and transport and logistics.
As part of the signed agreement, a delegation from UAE business circles is expected to visit Uzbekistan. This visit will facilitate a meeting of the bilateral business council and a business forum aimed at fostering closer ties between the two nations.
The cooperation will also see the establishment of joint ventures in the agricultural sector, aimed at boosting exports of Uzbek products to the UAE and other Persian Gulf countries. The CCI highlighted that these initiatives are designed to support Uzbek producers and promote national products in a region known for its high consumer demand.
Additionally, Uzbekistan is considering the opening of a regional distribution center in Qatar. The CCI is currently gathering information on rental costs and available areas in the port of Hamad, with plans to involve Qatar Airways in cargo transportation.
Uzbekistan, UAE strengthen partnership with focus on investment, innovation, and defense cooperation @president_uz Shavkat Mirziyoyev held a meeting with a high-ranking delegation from the United Arab Emirates (UAE), led by Sheikh Hamdan bin Mohammed Al Maktoum, the Deputy… pic.twitter.com/mPfoiYMoiH
— Daryo | Central Asia & Afghanistan (@DaryoEng) September 28, 2024
Earlier Uzbekistan's President Shavkat Mirziyoyev met with a high-level UAE delegation, led by Sheikh Hamdan bin Mohammed Al Maktoum, Dubai's Crown Prince, Deputy Prime Minister, and Minister of Defense. Their talks focused on deepening the partnership between the two nations, emphasizing economic and investment initiatives, along with enhancing cooperation in defense.
Uzbekistan and the UAE maintain a robust partnership, with the UAE serving as a key ally in the Asian region. In 2023, trade between the two countries increased by 21%, totaling $626mn. Over 320 enterprises with Emirati investment are active in Uzbekistan, and the combined value of completed and planned investment projects is estimated at around $20bn.
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