MIIT Delegation Participates in the Business Forum of Arab States, Central Asian Countries, and Azerbaijan
2025-02-28 10:00:00 / News
On February 26-27 this year, a delegation from Uzbekistan, headed by Deputy Minister of Investment, Industry, and Trade Shokhrukh Gulamov, visited the UAE to participate in the Business Forum of Arab States, Central Asian countries, and Azerbaijan, as well as the International Forum Investopia, held in Abu Dhabi with the support of the League of Arab States.
The event was also attended by the Ministers of Investment and Trade from several countries of the Gulf Cooperation Council (GCC), Central Asia, and Azerbaijan.
The main topics of the event included the development of cooperation in the agro-industrial sector, halal production, green economy, oil and gas industry, infrastructure development, and the implementation of artificial intelligence.
In his welcoming speech at the forum, Shokhrukh Gulamov emphasized the importance of the event as a platform for strengthening cooperation, exploring new opportunities, and ensuring the sustainable, shared development of Arab countries, Central Asia, and Azerbaijan.
The practical results of reforms carried out in Uzbekistan to improve its investment and business environment were presented. These reforms include ensuring the openness of the economy, removing barriers, reducing taxes and duties, legally enshrining the protection of investors' rights and interests, implementing a privatization program, and establishing Free Economic Zones (FEZs) with developed infrastructure.
As a result, the economy has nearly doubled, with growth rates exceeding 6% last year. Trade turnover with Central Asian countries reached $7 billion, and with GCC countries, $1 billion. Uzbekistan's investment portfolio with countries in the GCC and Central Asia now amounts to $70 billion.
A firm commitment to further deepening cooperation with countries in the region was expressed. In this context, the sides highlighted the enormous opportunities offered by collaboration in agriculture, textile production, mining, energy, healthcare, and tourism.
At the end of his speech, Shokhrukh Gulamov extended an invitation to participants to attend the second meeting of Central Asian countries and the GCC, which will be held in Samarkand in May this year.
On the margins of the visit, several meetings and negotiations were held with the heads of major UAE companies, during which joint measures were developed to accelerate the implementation of ongoing joint projects and to outline new areas for improving the effectiveness and scale of cooperation.