Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

Minister Laziz Kudratov met with Jaap Ora, the Ambassador Extraordinary and Plenipotentiary of the Republic of Estonia to the Republic of Uzbekistan, at the Ministry of Investment, Industry, and Trade. They discussed the current state and future prospects for enhancing bilateral multifaceted cooperation.

The constructive exchange of views has unveiled new opportunities for expanding the volume and variety of goods within the framework of mutual trade. In 2024, the trade turnover reached nearly $150 million, reflecting a 20% increase, primarily driven by services, heavy engineering products, and medical equipment.

The parties expressed a unified stance on implementing additional measures to enhance trade turnover. This involves utilizing the ports of Tallinn, Muuga, Pärnu, and Sillamae to diversify export routes for Uzbek products to the markets of Northern and Western Europe.

In a similar vein, additional collaborative efforts aimed at establishing investment partnerships and industrial cooperation have been discussed. Currently, there are 31 companies with Estonian capital operating in Uzbekistan. Both parties have agreed to engage the business communities of their respective countries in the implementation of new projects in green energy, information technology, water management, pharmaceutical production, and transport and logistics.

At the conclusion of the meeting, the parties reaffirmed their strong commitment to further deepening and expanding cooperation in all areas discussed. They also agreed on a schedule of joint activities for 2025.