Trade turnover between Uzbekistan and Estonia reached nearly $150mn in 2024, marking a 20% increase. This growth was largely driven by sectors such as services, heavy engineering, and medical equipment.
During a meeting between Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, and Estonia’s Ambassador to Uzbekistan, Jaap Ora, both sides explored opportunities to further enhance bilateral cooperation.
They emphasized the need for additional measures to boost trade turnover, including the use of Estonia’s major ports—Tallinn, Muuga, Pärnu, and Sillamäe—to expand export routes for Uzbek products to Northern and Western Europe.
Investment partnerships and industrial collaboration were also key topics of discussion. Currently, 31 Estonian-invested companies operate in Uzbekistan, contributing to various sectors.
Both sides agreed to encourage further business engagement in green energy, information technology, water management, pharmaceuticals, and transport and logistics.
At the end of the meeting, the parties reaffirmed their commitment to strengthening economic ties and set a schedule for joint activities in 2025 to support their shared objectives.
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