UAE team explores investment, partnership avenues in Uzbekistan

A UAE trade delegation, led by Dr Ali Saeed bin Harmal Al Dhaheri, Board Member of the Federation of UAE Chambers and First Vice Chairman of the Abu Dhabi Chamber of Commerce and Industry, explored numerous commercial partnerships with business owners and investors in the Republic of Uzbekistan.

The meetings took place during the UAE-Uzbekistan Business Forum, held in Tashkent from 14th to 16th October, with the participation of 200 representatives from both the public and private sectors in Uzbekistan.

The forum was organised by the Federation of UAE Chambers, in cooperation with the Ministry of Foreign Affairs, the Chamber of Commerce and Industry of Uzbekistan, and the Embassy of Uzbekistan in the UAE.

In his remarks at the forum, Dr. Al Dhaheri emphasised the importance the UAE Chambers place on Central Asian markets, particularly in strengthening commercial partnerships with these countries by supporting the expansion of Emirati businesses into global markets.

He highlighted that in recent years, UAE-Uzbekistan trade relations have developed and grown significantly, reflected in increased investments across sectors such as energy, infrastructure, manufacturing, agriculture, transportation, and logistics. The trade exchange between the two countries has reached approximately US$1.9 billion, making the UAE one of Uzbekistan’s largest trading partners.

Dilshod Rasulov, Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan, stated that the Chamber had signed six agreements with UAE business-related entities, resulting in the presence of more than 320 Emirati-owned companies in Uzbekistan, including over 120 joint ventures and more than 200 fully foreign-owned firms representing various business sectors.

Rasulov added that Uzbekistan has, in recent years, implemented an open and transparent economic policy aimed at promoting entrepreneurship, particularly by supporting small and medium-sized enterprises and removing barriers to their activities.

The forum featured several presentations by officials and experts in economics, investment, and logistics in Uzbekistan, highlighting the advantages and benefits of conducting business in Uzbekistan and addressing the inquiries of UAE trade delegation members.

The event also saw the organisation of over 125 bilateral meetings between the UAE trade delegation and Uzbek officials, experts, businesspeople, and investors.

In August, the Sharjah Chamber of Commerce and Industry (SCCI) has affirmed its commitment to enhancing economic cooperation, boosting joint investments, reinforcing partnerships and fostering trade missions between the business community in Sharjah and its counterpart in Uzbekistan.

These include organising joint events and business forums that bring together entrepreneurs and businessmen from both sides to explore key investment opportunities and enhance collaboration between investors.

WAM