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The United Arab Emirates (UAE) and the Republic of Uzbekistan solidified their economic collaboration during the fifth session of the Joint Economic Committee (JEC) in Tashkent. Led by H.E. Abdulla bin Touq Al Marri, UAE Minister of Economy, and H.E. Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry, and Trade, the session emphasized fostering partnerships in new economic frontiers spanning tourism, entrepreneurship, fintech, transportation, renewable energy, and agriculture.
H.E. Bin Touq highlighted the robust strategic ties between the two nations, stressing their shared vision for expanding into sustainable economic sectors. He emphasized the UAE’s pivotal role as a gateway for Uzbek exports to regional markets, ensuring mutual economic growth and development.
Strengthening private sector ties took center stage, with both sides committed to facilitating dialogue and promoting trade exhibitions to enhance bilateral economic awareness. The UAE extended invitations to Uzbek entrepreneurs to capitalize on its dynamic entrepreneurial ecosystem, showcasing the country’s supportive SME environment.
Moreover, discussions underscored knowledge exchange in economic legislation, aligning with the ambitious goals outlined in the ‘We the UAE Vision 2031’ and ‘Uzbekistan Strategy – 2030.’ Joint ventures in advanced digital technologies were also explored, leveraging the UAE’s expertise to drive Uzbekistan’s digital economy ambitions.
Collaboration extended to vital sectors like agriculture and food security, with plans to boost trade exchanges and encourage private sector investments. The tourism, aviation, and hospitality industries also featured prominently, with initiatives aimed at joint exhibitions and tourism events to enhance bilateral tourism flows.
Furthermore, agreements signed between Etihad Credit Insurance and Uzbekistan’s Export-Import Insurance Company aimed to streamline export processes and foster trade relations. In addition, partnerships were forged to expedite the development of Uzbekistan’s largest wastewater treatment plant, signaling a commitment to sustainable infrastructure projects.
H.E. Bin Touq’s participation in the Tashkent International Investment Forum further underscored the UAE’s commitment to diversifying its economy and attracting foreign direct investment (FDI). The event served as a pivotal platform to explore promising economic prospects and strengthen collaboration between the UAE and Uzbekistan across various sectors.
With 24 entities from both public and private sectors in attendance, including key players like DP World and Abu Dhabi Fund for Development, the UAE delegation reaffirmed its dedication to nurturing enduring economic partnerships with Uzbekistan. |
