TASHKENT, Uzbekistan, September 25. Over the past five years, Uzbekistan’s trade turnover with Economic Cooperation Organization (ECO) countries has grown by 47 percent, reaching $12.2 billion, Trend reports.
Since the dawn of this year, over 700 new joint ventures have popped up, pushing the total past the 5,000 mark.
These figures were highlighted during a meeting between Shokhrukh Gulamov, Deputy Minister of Investment, Industry, and Trade of Uzbekistan, and Asad Khan, Secretary General of the ECO, where the sides discussed ways to further boost trade, investment, and economic cooperation across the ECO region.
The parties underscored the importance of active cooperation within ECO, which unites half a billion people and accounts for a third of global energy resources. They noted the region’s strong potential for expanding trade, transport, industrial, and energy collaboration.
Discussions also covered preparations for the 5th ECO Ministerial Meeting on Trade and Foreign Economic Relations in Istanbul. Uzbekistan’s initiatives—such as establishing a Trade, Investment, and Innovation Center and advancing the ECO Trade Facilitation Agreement—were highlighted. Both sides emphasized the role of Joint Trade Zones, as well as the importance of deeper cooperation in trade facilitation, investment promotion, regulatory modernization, and the development of regional value chains.
The meeting reaffirmed the collective commitment to enhancing economic integration across the ECO region, with Uzbekistan stepping up to the plate in crafting new cooperative initiatives.
Uzbekistan’s economic role in the ECO is steadily rising. As one of Central Asia’s fastest-growing economies, it has a population exceeding 37 million and a GDP of over $115 billion. By the end of 2024, trade with ECO countries reached around $12 billion, with key partners including Kazakhstan, Türkiye, Kyrgyzstan, and Turkmenistan, alongside growing economic ties with Iran, Azerbaijan, Pakistan, and Afghanistan.
