AGP Executive Report

Trade & Investment: US Secretary of State Marco Rubio is due in Samarkand for the C5+1 ministerial, leading a delegation of more than 200 business leaders and holding talks with Central Asian officials. Manufacturing: A China–Central Asia trade exhibition opens in Tashkent on October 14, showcasing products from around 200 Chinese companies, including high-tech firms. Logistics: Hairatan railway port is handling 280–300 freight wagons daily, carrying machinery, industrial equipment and other goods through Uzbekistan to Afghanistan. Economic Outlook: The IMF forecasts Uzbekistan’s economy will grow 7.8% in 2026, with inflation easing to 6.9%; it expects the current-account deficit to widen to 5.1% of GDP. Mining & Geology: Uzbekistan and Canada’s Thrust Belt Imaging discussed cooperation in seismic data processing and geological exploration.

Geology: Uzbekistan and Canadian company Thrust Belt Imaging discussed cooperation in seismic data processing, exploration technology and mineral resources, including local storage of geological data. Business Activity: Uzbekistan’s September index rose; bank transactions increased 10.5%, commodity-exchange raw-material purchases jumped 87.6%, and operating businesses grew 1.1%, while trademark registrations fell 1.6%. Energy Investment: Canadian-listed Condor Energies upsized financing for gas-field compression in Uzbekistan and a modular LNG facility in Kazakhstan. Trade: Uzbekistan and Türkiye agreed steps to reduce trade barriers and target $5 billion in bilateral trade, prioritizing agriculture, electrical engineering and light industry. Connectivity: Georgia signaled interest in joining the China–Kyrgyzstan–Uzbekistan transport route, as Tbilisi and Tashkent discussed logistics, transport and investment cooperation.

Energy Investment: Uzbekistan and Japan discussed $4.2 billion in projects, including solar plants in Samarkand, wind power in Karakalpakstan and energy storage. Talks also covered power-grid upgrades, cable manufacturing and mining. Mining and Metals: More than 150 exhibitors from 16 countries are expected at MiningMetals Uzbekistan in Tashkent on October 27–29, showcasing equipment and technologies for extraction, processing and industrial automation. Trade Routes: Georgia wants to join the China–Kyrgyzstan–Uzbekistan transport route and is investing to raise rail freight capacity to 29 million tonnes a year by 2029. Uzbekistan’s Middle Corridor shipments reached 1.2 million tonnes in 2025, double the level five years earlier. Gas Infrastructure: Condor Energies expanded its financing plan to fund booster compression at its Uzbek gas fields, alongside a modular LNG facility in Kazakhstan.

Mining: More than 150 exhibitors from 16 countries are expected at MiningMetals Uzbekistan in Tashkent on October 27–29, alongside the Uzbekistan International Mining and Metals Forum. Investment: Uzbekistan and the United States discussed joint projects in mining, energy, transport, agriculture, finance and IT; talks with Japanese partners covered industrial investment, local production and a proposed Samarkand special economic zone project. Water Infrastructure: Fergana officials explored public-private partnerships with Saudi firm Alkhorayef for drinking water, wastewater and irrigation, while Uzbekistan reviewed ongoing water projects with Miahona and Franklin Templeton. Trade Routes: Uzbek freight on the Trans-Caspian corridor reached 1.2 million tonnes in 2025, double the level five years earlier; its share of freight trade with the EU rose to 28%. Regional Business: Afghanistan, Central Asian and Indian companies signed 22 MoUs worth more than $400 million, covering trade and investment in agriculture, textiles, energy and mining logistics.

Regional Trade: Businesses from Afghanistan, Uzbekistan and India signed 22 agreements worth more than $400 million, spanning agriculture, pharmaceuticals, textiles, energy and mining logistics. Afghanistan’s agriculture minister urged Uzbek partners to move beyond buying and selling toward investment, processing and complete value chains. Market Access: Malaysia-Uzbekistan trade reached $108 million in the first half of 2026, with manufacturing, electronics, food and commodities identified as areas for growth. Manufacturing: Pakistan has begun tractor shipments to Uzbekistan, while AGTL is entering the Uzbek market through a strategic tractor partnership. Energy: Uzbekistan’s $20 million solar-panel programme aims to equip 3,100 sites. Logistics: Wildberries plans a major logistics hub in Uzbekistan, as regional rail and transport links gain importance for cross-border trade.

Regional Trade: Private-sector agreements worth nearly $400 million were signed by businesses from Afghanistan, Uzbekistan and India, opening new avenues for trade and investment. Malaysia-Uzbekistan Business: Bilateral trade reached RM430.2 million (about $108 million) in the first half of 2026, with manufacturing, electronics, food and commodities identified as areas for growth. Space and Technology: Uzbekistan proposed a Mars-simulation facility in Karakalpakstan to test robotics, AI, communications and energy solutions; the project remains at the planning stage. Healthcare Industry: Uzbekistan and Kazakhstan discussed training 100 doctors and exploring local production of medicines. Renewable Energy: Uzbekistan’s $20 million solar-panel programme aims to equip 3,100 sites.

Malaysia Trade: Uzbekistan–Malaysia trade reached $108 million in the first half of 2026, with scope to expand in manufacturing, electronics, food and commodities, including oil and palm products. Automotive: BYD launched its Ti 7 SUV in Uzbekistan, while its DENZA and YANGWANG brands showcased vehicles to local buyers. Farm Machinery: Pakistan’s AGTL delivered 18 New Holland tractors to Uzbekistan and signed a partnership with AgroTech Klaster to develop trade, mechanisation and technology links. Regional Business: Afghanistan’s Central Asia–India business event produced 22 MoUs worth more than $400 million; Uzbekistan’s Chamber of Commerce said recent exchanges had generated agreements worth nearly $3 billion. Energy and Mining: Uzbekistan’s plans include a $20 million solar-panel programme for 3,100 sites, while talks with Algeria have advanced potential joint mineral exploration projects.

Agriculture and Tourism: Perlis and Tashkent Region are exploring kenaf cultivation and wider agricultural cooperation, alongside joint efforts to attract tourists. Farm Machinery: Pakistan’s Al-Ghazi Tractors delivered 18 tractors to Uzbekistan and signed an MoU with AgroTech Klaster to expand trade, technology exchange and mechanisation. Regional Trade: Uzbekistan and Kazakhstan discussed cooperation in food processing, textiles, logistics and manufacturing, including greater meat and dairy supplies to Uzbekistan. Afghanistan Links: A Kabul business event produced 22 MoUs worth more than $400 million across participating countries; Uzbekistan’s Chamber of Commerce said recent exchanges with Afghanistan had helped generate agreements worth nearly $3 billion. Energy and Growth: Uzbekistan’s planned $20 million solar-panel programme targets 3,100 sites, while the World Bank projects 7.9% economic growth in 2026, among the region’s fastest.

Agricultural Machinery: Pakistan’s AGTL has entered Uzbekistan with an initial shipment of 18 tractors and a partnership with AgroTech Klaster to expand trade, technology exchange and farm mechanisation. Regional Industry: Uzbekistan and Kazakhstan discussed joint manufacturing and cooperation in food processing, textiles, agriculture and logistics, with targeted business meetings planned. Trade Routes: At the Avaza summit, Central Asian leaders and Azerbaijan backed stronger East–West and North–South links and closer industrial cooperation; Uzbekistan also proposed a regional business forum for 2027. Clean Energy: Uzbekistan’s $20 million solar program has equipped 1,580 homes and 334 public institutions, with more household installations planned by May 2027. Mining: Algeria is seeking Uzbek expertise in mineral exploration, geological mapping and local processing to develop its mining industry. Growth Outlook: Uzbekistan is projected to grow 7.9% in 2026, among the region’s fastest rates.

Trade and Industry: Uzbekistan and Kazakhstan are exploring joint projects in food processing, textiles, logistics and manufacturing, alongside efforts to expand meat and dairy supplies. At the regional summit in Turkmenistan, leaders proposed lifting trade among Central Asia and Azerbaijan to $20 billion; Uzbekistan called for more manufacturing cooperation and a regional business forum in 2027. Strategic Links: Uzbekistan and Turkmenistan agreed to establish a Supreme Council of Strategic Partnership, with plans to deepen cooperation in industry, energy, transport, agriculture and water management. Mining: Algeria is seeking Uzbek expertise in mineral exploration, geological mapping and local processing as it works to diversify beyond hydrocarbons. Energy: A $20 million solar program has equipped 1,580 Uzbek homes and 334 public institutions, with more installations planned by May 2027. Growth: The World Bank forecasts Uzbekistan’s economy will expand 7.9% in 2026, among the region’s fastest rates. Rail: Homes along the planned China-Kyrgyzstan-Uzbekistan railway route in Kyrgyzstan are to be relocated to designated plots.

Regional Industry: At the first expanded Central Asia–Azerbaijan summit in Awaza, President Shavkat Mirziyoyev called for joint manufacturing chains under a “six countries, one product” model, a regional investment platform and cooperation on green energy and critical minerals. Leaders also backed stronger transport links, including green-power exports to Europe via Azerbaijan; Kyrgyzstan proposed a shared e-commerce marketplace. Uzbekistan–Turkmenistan Ties: The two countries signed an agreement establishing a High-Level Strategic Partnership Council, with plans to deepen cooperation in industry, energy, transport, agriculture and water management. Agricultural Trade: Uzbekistan and India are advancing fruit trade: Uzbek pomegranates and hot peppers have clearance to enter India, while requirements for Indian papaya and pineapple exports to Uzbekistan are being finalized. Business Links: Pakistan and Uzbekistan business representatives discussed more regular B2B exchanges and investment opportunities, including support for women-led enterprises.

Regional Industry: At the Awaza summit, President Shavkat Mirziyoyev called for joint manufacturing chains under a “six countries, one product” model, backed by shared investment tools and cooperation in green energy, digital services and critical minerals. Uzbekistan–Turkmenistan: The two countries agreed to establish a High-Level Strategic Partnership Council and prepare a cooperation programme covering industry, energy, transport, agriculture and water management. Trade: Uzbekistan and India are working to open markets for Indian papayas and pineapples, while Uzbek pomegranates and hot peppers have gained phytosanitary clearance for export to India. China Links: Tashkent is set to host the China Central Asia 2026 trade exhibition, as bilateral trade reached $11.3 billion in the first seven months of 2026; organisers aim to turn trade ties into joint production and investment. Water Management: Central Asian states agreed on reservoir operations and water distribution for the 2026–27 non-growing season, a key step for balancing irrigation needs and water storage.

Water Security: Central Asian states agreed on reservoir operating plans for the 2026–27 non-growing season, coordinating water supplies across the Amu Darya and Syr Darya basins as climate pressures intensify. Agriculture: FAO chief QU Dongyu presented President Shavkat Mirziyoyev with the organization’s Agricola Medal, recognizing Uzbekistan’s progress on food security while underscoring ongoing challenges including water scarcity and land degradation. Textiles: Tashkent will host three trade shows spanning home textiles, fabrics and apparel sourcing. The sector aims to lift garment and knitwear output to 167 trillion UZS and exports to $4.5 billion in 2026–27; first-half textile exports reached $1.6 billion, up 24.1%. Logistics and E-commerce: Wildberries plans a 67.3-hectare hub in Tashkent region, with construction due to start this month. The project is expected to create about 7,500 jobs and help Uzbek producers reach foreign markets. Mining: Algeria and Uzbekistan discussed cooperation in exploration, technical expertise and training, with officials exploring investment and commercial partnerships. Economic Outlook: The World Bank forecasts 7.9% growth for Uzbekistan in 2026, driven by domestic demand and investment, while flagging energy costs and gaps in digital skills and infrastructure.

Logistics: Wildberries plans a 67-hectare hub in Tashkent region, with construction due to start in late October. The project is expected to create 7,500 jobs, train at least 2,000 people and help Uzbek producers reach export markets. Mining: Algeria’s mines minister met Uzbek officials to discuss investment, geological exploration and technical cooperation, laying groundwork for possible bilateral agreements. China Trade: A China–Central Asia exhibition in Tashkent on October 14–16 aims to turn trade ties into industrial partnerships; bilateral trade reached $11.3 billion in January–July, with imports far exceeding exports. Growth Outlook: The EBRD expects Central Asia to grow 5.8% in 2026 and raised its forecast for Uzbekistan, while warning that energy costs and water scarcity pose risks. Regional Trade: Uzbekistan’s trade with Turkic states reached $10.8 billion in 2025, but imports grew faster than exports, highlighting scope to expand local sales.

Uzbekistan Growth Outlook: The World Bank projects Uzbekistan’s GDP to rise 7.9% in 2026, the fastest in Europe and Central Asia, supported by remittances and heavy foreign-financed investment in energy, digital infrastructure and industry. Turkic Trade Shift: Trade between Uzbekistan and Turkic states climbed to $10.8bn in 2025, but imports outpaced exports, with food and fuel dominating Uzbekistan’s import basket. Global Finance Link: Octobank is expanding correspondent banking and cross-border payments ties at Sibos Miami 2026, signaling deeper integration of Uzbekistan’s banking infrastructure with global partners. Middle Corridor Push: Rhenus Group plans 14 terminals along the Trans-Caspian/Middle Corridor, starting with a new Aktau trimodal hub, to strengthen Central Asia–Caucasus–Türkiye freight flows. Health Watch (Plague Scare): WHO and ECDC say the suspected pneumonic plague death in Russia’s Irkutsk region has not triggered secondary cases, while Uzbekistan and neighbors tightened health controls. Energy & Industry Cooperation: Uzbekistan and Pakistan discussed boosting industrial and trade ties under a plan to lift bilateral trade to $2bn over five years. Agriculture Partnership: Uzbekistan’s FAO cooperation deepens with a new five-year program and 27 joint projects, including AI and digitalization in farming. Tourism/Real Estate: Sea Breeze Uzbekistan cleared key environmental review stages for its Charvak-area resort project.

Uzbekistan–FAO Partnership: President Shavkat Mirziyoyev met FAO chief Qu Dongyu in Tashkent, agreeing a new five-year cooperation program with 27 joint projects, including plans to launch an Agro-Innovation Hub for landlocked countries and to push digitalization and AI in agriculture; Mirziyoyev also received FAO’s top Agricola Medal. Middle Corridor Investment Push: A World Bank-backed assessment says the Trans-Caspian “Middle Corridor” could quadruple Asia–Europe freight by 2040, but needs $55bn+ in rail, ports, roads, logistics and digital systems plus faster border coordination to cut delays. Cross-Border Logistics Expansion: Kazakhstan is moving from plans to delivery on trade hubs, with Khorgos-Eastern Gate SEZ seeing project and investment growth and new dry-port and warehouse capacity—an indirect boost for regional supply chains that Uzbekistan relies on. Plague Scare Spills Into Central Asia: Reports of a suspected plague-linked death in Russia’s Irkutsk region triggered border health checks and quarantine measures across Kazakhstan, Kyrgyzstan and Uzbekistan, with hospitals screening patients and restricting visitors amid information disputes. Tourism Infrastructure for Caves: Uzbekistan approved 10 speleotourism sites (nine caves and one salt mine) in Jizzakh, Samarkand, Surkhandarya and Kashkadarya, with digital passports, QR-based visitor info, safety rules and plans to attract private investors. Finance Reform Signals for Investors: Reuters reports TBC Uzbekistan is considering a standalone IPO as digital payments and reforms make the market more accessible to international investors. Energy and Industry Deals: Uzbekistan–Oman and Uzbekistan–Denmark cooperation talks continue, while regional industrial exhibitions in Bishkek (Oct 15–17) will bring together firms from multiple countries including Uzbekistan across construction, energy, mining, logistics and IT.