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Uzbekistan and UAE intend to increase trade turnover 10 times by 2030
The Presidents of Uzbekistan and the UAE have declared 2025-2027 a new era of economic partnership. The key objective is to increase trade volumes by 10 times and bring investments to $50 billion. Areas of cooperation: AI and digitalization, green energy, urban development, tourism, and private business.On January 15, the Presidents of Uzbekistan Shavkat Mirziyoyev and the United Arab Emirates Sheikh Mohammed Al Nahyan held talks in a narrow format and with the participation of members of official delegations in Abu Dhabi, the press service of the head of state reported.
They discussed issues of deepening Uzbek-UAE relations, including in political, trade and economic, investment, innovation, cultural and humanitarian and other priority areas.
It was emphasized that the visit of the President of Uzbekistan to the UAE opens a new page in the history of bilateral relations - they are reaching the level of strategic partnership, the report says.
In recent years, the volume of trade and investment, as well as the number of joint ventures, have increased exponentially. The frequency of direct flights has increased, and a visa-free regime has been introduced, it was noted at the meeting.
During the visit, a solid portfolio of new projects was formed with leading Emirati companies, mainly in high-tech industries. As reported earlier, 15 agreements and memorandums were signed, including a project jointly with Jetex to service VIP and CIP clients at the Tashkent-Vostochny airport under construction, as well as the introduction of air taxi and VIP taxi services.
In order to strengthen political contacts, the importance of developing a dialogue between the foreign ministries of the two countries was emphasized.
The leaders of the two countries also identified six key areas of the new model of economic cooperation: artificial intelligence, digitalization, green energy, urban development and infrastructure, tourism, and private business. An agreement was reached to create separate working groups for each priority vector of interaction.
The parties supported the proposal to declare 2025-2027 as a "New Era of Economic Partnership between Uzbekistan and the UAE". In this context, the key task is to increase the volume of mutual trade by 10 times by 2030 and bring the investment portfolio to $ 50 billion.
Reference: according to the Statistics Agency, in January-September 2024, the volume of foreign trade between Uzbekistan and the UAE amounted to $ 472.2 million, of which $ 179.9 million was exported and $ 292.3 million was imported.
Interest was expressed in strengthening ties between the business circles of the two countries and expanding the investment activities of Emirati companies in Uzbekistan.
Special attention was paid to expanding cultural and humanitarian exchanges.
The head of Uzbekistan proposed launching a joint program for training highly qualified personnel and conducting scientific research in the field of artificial intelligence in cooperation with the Muhammad bin Zayed University.
During the talks, preparations for upcoming high-level events were discussed, including the second summit of the Central Asia-Gulf Cooperation Council dialogue, which will be held this year in Samarkand.
The leaders also exchanged views on current aspects of international politics.
Reports: gazeta.uz