BAKU, Azerbaijan, June 19. Uzbekistan and the United Kingdom discussed expanding cooperation in investment, capital markets, and infrastructure development.
This was reflected in the statement by the Ministry of Economy and Finance of Uzbekistan, following the high-level meeting held on June 18.
The talks were led by Jamshid Kuchkarov, Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance, and a British delegation headed by UK Minister of State for Investment Lord Jason Stockwood.
The meeting was attended by British Ambassador to Uzbekistan Timothy Smart, UK Export Finance (UKEF) Chief Executive Tim Reid, London Stock Exchange Group Chief Executive Julia Hoggett, Standard Chartered Bank Chief Executive for UK, Europe and the Americas Saif Malik, and other officials.
A key focus of the discussions was the development of Uzbekistan’s capital market and the expansion of cooperation with the London Stock Exchange. The parties exchanged views on Uzbekistan’s participation in international capital markets, the issuance of sovereign and corporate securities, and the continuation of privatization efforts, including initial public offerings (IPOs) of state-owned enterprises.
The talks also covered cooperation in urban planning, regional development, and master plan preparation. It was noted that projects involving British companies are contributing to the introduction of modern urban planning practices, the development of sustainable infrastructure, and the creation of more comfortable living environments across Uzbekistan.
Another important topic was the expansion of collaboration with UK Export Finance (UKEF). The parties discussed opportunities to make greater use of UKEF financing instruments, accelerate the preparation of joint projects, and strengthen coordination between relevant government agencies and institutions.
In addition, discussions with Standard Chartered Bank focused on supporting Uzbekistan’s access to international capital markets, sovereign bond issuances, improvements to capital market regulations, and efforts to attract foreign investment.
The meeting reflects the deepening economic relationship between Uzbekistan and the United Kingdom as Tashkent continues to pursue market reforms, expand privatization programs, and seek greater integration with global financial markets. British financial institutions and development partners have become increasingly involved in supporting the country's efforts to modernize its economy and attract international capital.
At the conclusion of the talks, both sides agreed to continue constructive dialogue aimed at expanding investment, financial, and infrastructure cooperation, accelerating ongoing initiatives, and developing new joint projects.
