TASHKENT, Uzbekistan, February 17. Uzbekistan
and the United Kingdom have decided to join forces and lay down a
plan to enhance their diverse partnership, Trend reports, citing the
press service of the Uzbek president.
The agreement was reached during a meeting between President of
Uzbekistan Shavkat Mirziyoyev and the UK’s Trade Envoy to Central
Asia and Azerbaijan, Lord John Alderdice.
In the discussions, it was highlighted that Uzbekistan has
successfully listed sovereign and corporate bonds exceeding $15
billion on the London Stock Exchange. The parties emphasized the
significance of last year's launch of the Joint Economic Committee
mechanism as a crucial advancement in enhancing bilateral
engagement.
The conversations highlighted the critical need to advance new
collaborative initiatives across various sectors, including energy,
finance, geology, transport, chemicals, pharmaceuticals, science,
and education.
Meanwhile, trade turnover between Uzbekistan and the United
Kingdom has doubled over the past five years, with more than 270
British companies currently operating in Uzbekistan.
Uzbekistan and the UK have established a strong trade
relationship through bilateral trade. Uzbekistan's main exports
include gold and precious metals, totaling $3.43 billion in 2024,
alongside non-ferrous metals, silver, and cotton. The UK, in turn,
provides high-value industrial goods such as machinery, industrial
equipment, combustion engines, and agricultural machinery. The
trade benefits from the UK's Developing Countries Trading Scheme
(DCTS), granting Uzbekistan preferential market access.
Additionally, UK Export Finance (UKEF) supports various projects in
Uzbekistan, especially in the mining and green technology
sectors.
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