Tashkent (TDI): Uzbek President Shavkat Mirziyoyev met with Eduards Stiprais, the EU’s Special Representative for Central Asia on Tuesday to review the outcomes of the first Central Asia-European Union Summit, held in Samarkand in April, and discuss ways to implement its decisions.
The meeting focused on enhancing both bilateral and regional ties, with a special attention to advancing investment and technical collaboration initiatives valued at €12 billion.
They also discussed key regional developments and deliberated on plans for upcoming joint events.
Economic relations between Uzbekistan and the EU have enhanced in recent years. Since 2020, bilateral has doubled to more than €6 billion, while Uzbek exports to the bloc have quadrupled.
Over a thousand joint ventures have been initiated, and the value of European investment projects in Uzbekistan has crossed €30 billion.
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To attract more European investors, Uzbekistan has undertaken significant reforms to improve its business environment. In 2024 alone, trade with EU nations hit $6.4 billion, and more than a thousand European companies are currently operating in the country.
Uzbekistan’s strengthening relations with the EU reflect a strategic pivot to diversify its economic partnerships.
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This move aligns with the region’s broader initiatives to balance ties with world powers while fostering local development. The EU’s €12 billion investment and technical collaboration initiatives show a deeper commitment to Central Asia, enabling nations like Uzbekistan to modernize industries, improve infrastructure, and develop trade networks.
This shift not only accelerates Uzbekistan’s economic development but also brings new opportunities for regional integration by connecting Central Asia with European markets through preferential trade deals and strong supply chains.
Farkhund Yousafzai is an Associate Editor at The Diplomatic Insight.
