On January 13 of this year, prior to the official visit of Sh.M. Mirziyoyev, the President of the Republic of Uzbekistan, to the United Arab Emirates, a ceremony was held in Abu Dhabi to sign several bilateral agreements for the implementation of joint projects.

The delegations at the event were led by Laziz Kudratov, the Minister of Investment, Industry, and Trade of Uzbekistan, on the Uzbek side, and Suheil Mohamed Al Mazrui, the UAE Minister of Energy and Infrastructure, on the UAE side.

Delivering a welcoming speech, Laziz Kudratov highlighted the consistent growth of trade, economic, and investment cooperation between Uzbekistan and the UAE, a development made possible by mutual trust at the highest levels.

Since 2021, mutual trade turnover between the UAE and Uzbekistan has been steadily increasing at an average annual rate of over 20 percent, approaching $650 million by the end of 2024. Currently, 337 enterprises with UAE capital are operating in Uzbekistan, including 114 joint ventures and 223 foreign enterprises. In 2023, $1.08 billion was allocated for the implementation of investment projects, and in 2024, this figure is expected to exceed $1.5 billion.

The projects implemented collaboratively encompass traditional and alternative energy, infrastructure, the chemical industry, geology, information technology, agriculture, transportation, and logistics.

Uzbekistan-Emirates Investment Company has been established, with an investment portfolio currently valued at 200 million dollars. This portfolio includes seven projects totaling 192.5 million dollars in the fields of medicine, geology, agriculture, and tourism. Additionally, there are nine projects under development, valued at 140 million dollars.

Nevertheless, the results achieved do not accurately reflect the economic potential of the two countries. Therefore, comprehensive measures are being implemented on a mutual basis to further enhance the volume of cooperation.

The documents signed today represent one of the significant steps forward. This achievement is the result of active collaboration among ministries, agencies, and business sectors, culminating in the signing of 15 documents. It marks a new chapter in the history of investment cooperation between the two countries.

In the subsequent ceremony, investment agreements and contracts were signed with AMEA Power, Masdar, Solar Power Shine, M42, Burjeel Holdings, IFFCO Group, TWS, Alserkal Group, Metito, AD Ports, Jetex, Emirates Group, and various other companies across the sectors of energy, healthcare, agriculture, infrastructure development, water supply, transportation, and logistics.