On the eve of President Shavkat Mirziyoyev's official visit to Kuwait, an Uzbekistan-Kuwait business forum took place in the Kuwaiti capital on February 15. The forum brought together key government officials, business leaders, and representatives of over 100 major companies and financial institutions from both countries.
Uzbekistan's delegation was led by Laziz Kudratov, Minister of Investment, Industry, and Trade, while Kuwait’s delegation was headed by Rabah Al-Rabah, Chairman of the Kuwaiti Chamber of Commerce and Industry.
In his opening remarks, Kudratov highlighted the strengthening economic ties between Uzbekistan and Kuwait. He noted that Kuwaiti businesses are actively involved in Uzbekistan’s healthcare, agriculture, infrastructure, hospitality, pharmaceuticals, and real estate sectors. Uzbekistan has introduced favorable conditions for foreign investors, including tax incentives, privatization programs, and access to CIS and EU markets.
Kudratov also pointed out Uzbekistan's economic growth, stating that GDP rose by 6.5% in 2024 to reach $115bn, while foreign investments increased 1.6 times to $34.9bn. The country’s long-term strategy aims to expand GDP to $200bn by 2030 and attract $110bn in foreign direct investment.
The forum identified key areas for expanded cooperation, including agriculture, textiles, mining, energy, petrochemicals, healthcare, logistics, tourism, and communications. Kuwaiti Chamber of Commerce Chairman Al-Rabah commended Uzbekistan’s reforms and urged businesses from both nations to strengthen trade and investment partnerships.
B2B and G2B negotiations, along with an exhibition of Uzbek products, provided a platform for networking and deal-making. As a result, several investment agreements and trade contracts were signed, which are expected to boost trade volumes and deepen economic ties between Uzbekistan and Kuwait in the near future.
Uzbekistan’s President, Shavkat Mirziyoyev, will visit Kuwait on February 17-18, at the invitation of the Emir of Kuwait, Mishal al-Sabah. During the visit, he is said to engage in high-level talks with government officials, business leaders, and heads of banking and financial sectors in Kuwait City.
Uzbekistan and Kuwait Relations
Uzbekistan and Kuwait established diplomatic ties in 1994, following Kuwait's recognition of Uzbekistan's independence in 1991. The Kuwaiti embassy in Tashkent opened in 2001, and Uzbekistan's embassy in Kuwait was established in 2004. The two countries have cooperated closely in international organizations such as the UN and OIC and have held two rounds of political consultations.
A joint intergovernmental commission for trade and economic cooperation was set up in 2004, co-chaired by the finance ministers of both countries. Recent business forums and exhibitions, including events in Tashkent, Fergana, Syrdarya, and Kuwait, have strengthened economic ties between the two nations.
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