BAKU, Azerbaijan, July 22. Uzbekistan's
Uzmetkombinat and Germany-based Baosteel Europe GmbH have agreed to
pursue joint investment opportunities and expand cooperation in
technology and metallurgy.
This was reflected in the statement by the Uzmetkombinat
following a visit of a delegation from Baosteel Europe to the
company's production complex to explore opportunities for long-term
cooperation.
During the visit, the delegation toured the company's modern
production facilities, including its casting and rolling complex,
where they were introduced to the plant's manufacturing
capabilities and ongoing modernization efforts.
The discussions focused on expanding mutually beneficial trade
and economic cooperation, implementing investment projects,
introducing advanced metallurgical technologies and strengthening
the exchange of industry expertise.
"The parties discussed the development of mutually beneficial
trade and economic cooperation, the implementation of investment
projects, the introduction of advanced technologies and the
exchange of experience in the metallurgical sector," Uzmetkombinat
said in a statement.
Representatives of the two companies also exchanged views on
Uzbekistan's investment potential and explored opportunities for
future joint projects aimed at supporting the country's industrial
development.
According to the statement, the meeting concluded with an
understanding to continue work on long-term cooperation and advance
initiatives that could lead to joint investment projects.
"The parties expressed confidence that the meeting would elevate
mutually beneficial cooperation between the two companies to a new
level," the statement said.
Uzbekistan has made modernization of its metallurgical industry
a priority as part of broader efforts to diversify the economy,
increase industrial output and attract foreign investment into
value-added manufacturing. Cooperation with international steel
producers and technology providers is expected to help domestic
enterprises improve production efficiency, adopt advanced
manufacturing technologies and strengthen their competitiveness in
regional and global markets.
For Baosteel Europe, deeper engagement with Uzbekistan reflects
growing interest among international industrial companies in
Central Asia's expanding manufacturing sector and its strategic
location along regional trade and transport corridors. Continued
collaboration between the two companies could pave the way for new
investment, technology transfer and closer commercial ties between
Uzbekistan and European industrial partners.
