BAKU, Azerbaijan, July 22. Uzbekistan's Uzmetkombinat and Germany-based Baosteel Europe GmbH have agreed to pursue joint investment opportunities and expand cooperation in technology and metallurgy.
This was reflected in the statement by the Uzmetkombinat following a visit of a delegation from Baosteel Europe to the company's production complex to explore opportunities for long-term cooperation.
During the visit, the delegation toured the company's modern production facilities, including its casting and rolling complex, where they were introduced to the plant's manufacturing capabilities and ongoing modernization efforts.
The discussions focused on expanding mutually beneficial trade and economic cooperation, implementing investment projects, introducing advanced metallurgical technologies and strengthening the exchange of industry expertise.
"The parties discussed the development of mutually beneficial trade and economic cooperation, the implementation of investment projects, the introduction of advanced technologies and the exchange of experience in the metallurgical sector," Uzmetkombinat said in a statement.
Representatives of the two companies also exchanged views on Uzbekistan's investment potential and explored opportunities for future joint projects aimed at supporting the country's industrial development.
According to the statement, the meeting concluded with an understanding to continue work on long-term cooperation and advance initiatives that could lead to joint investment projects.
"The parties expressed confidence that the meeting would elevate mutually beneficial cooperation between the two companies to a new level," the statement said.
Uzbekistan has made modernization of its metallurgical industry a priority as part of broader efforts to diversify the economy, increase industrial output and attract foreign investment into value-added manufacturing. Cooperation with international steel producers and technology providers is expected to help domestic enterprises improve production efficiency, adopt advanced manufacturing technologies and strengthen their competitiveness in regional and global markets.
For Baosteel Europe, deeper engagement with Uzbekistan reflects growing interest among international industrial companies in Central Asia's expanding manufacturing sector and its strategic location along regional trade and transport corridors. Continued collaboration between the two companies could pave the way for new investment, technology transfer and closer commercial ties between Uzbekistan and European industrial partners.
