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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