BAKU, Azerbaijan, August 20. Uzbekistan and Saudi Arabia are working to expand bilateral trade and investment ties.
This was reflected in a statement by the Uzbek Ministry of Investment, Industry and Trade, following a meeting between Minister Laziz Kudratov and Saad Abu Haimed, Saudi Arabia’s Ambassador Extraordinary and Plenipotentiary to Uzbekistan, on August 20.
According to the Ministry, Saudi investments in Uzbekistan reached $2.8 billion in 2025, up 105% from a year earlier.
''Bilateral trade reached $178 million in 2025, an increase of 24% year over year. Uzbekistan currently has 433 enterprises with Saudi capital participation,'' the Ministry of Investment, Industry and Trade notes.
The sides focused on increasing and diversifying bilateral trade, organizing business missions and exhibitions, and advancing joint projects across several sectors.
Priority areas include energy, digital technologies, transport, finance, healthcare and education, according to the ministry.
''Uzbekistan and Saudi Arabia are placing particular emphasis on expanding trade, strengthening investment cooperation and advancing joint projects in priority sectors,'' the ministry said.
The sides also discussed increasing direct business contacts through reciprocal business missions and participation in exhibitions, which could help companies identify new commercial and investment opportunities.
Saudi investment has become an increasingly important component of Uzbekistan’s economic cooperation with the Gulf country. The 105% annual increase in utilized Saudi investment highlights the expansion of the two countries’ investment ties.
Following the meeting, Uzbekistan proposed holding the next meeting of the Intergovernmental Commission in Riyadh in the fourth quarter of 2026.
The parties also discussed arrangements for Uzbekistan’s participation in EXPO 2030 in Saudi Arabia, including the establishment of an Uzbekistan national pavilion.
The planned commission meeting is expected to provide an additional platform for reviewing bilateral economic projects and identifying new areas for cooperation.
The latest discussions reflect Tashkent’s efforts to deepen economic ties with Saudi Arabia through greater trade diversification, investment, and business-to-business cooperation.
