In a significant move towards strengthening economic ties, the United Arab Emirates and Uzbekistan are actively exploring ways to enhance their partnership in the burgeoning sectors of the new economy. During a recent meeting in Dubai, key representatives from both nations discussed collaborative efforts aimed at amplifying investment and economic cooperation. This dialogue underscores a mutual commitment to developing sustainable partnerships across multiple sectors, ensuring a fruitful economic landscape for both countries.
On Monday, His Excellency Abdullah bin Towq Al Marri, Minister of Economy and Tourism, met with a delegation from the Republic of Uzbekistan at the Ministry of Economy and Tourism in Dubai. The discussions centered on enhancing economic and investment relations between the two countries, particularly in priority sectors, including the new economy, tourism, aviation, financial technology, transport, renewable energy, agriculture, food security, logistics, energy, industry, infrastructure, and banking. These initiatives aim to stimulate economic integration and support both nations’ ambitions for sustainable developmental partnerships.
The Uzbek delegation included Jamshid Khojaev, Deputy Prime Minister and Minister of Investment and Foreign Trade; Laziz Qudratov, Minister of Investment, Industry, and Trade; Shokhrukh Ghulamov, Deputy Minister of Investment, Industry, and Trade; and Jasur Churiev, Deputy Minister of Transport, along with several other officials from the Uzbek government.
Growing Economic and Investment Relations
In this context, His Excellency Abdullah bin Towq emphasized that the UAE and Uzbekistan share evolving economic and investment relations. This growth is rooted in the directives of the leadership in both friendly nations, demonstrating their dedication to enhancing bilateral cooperation frameworks and expanding partnerships across various sectors of mutual interest. He added that the UAE is committed to furthering its economic and investment relationships with Uzbekistan, fostering growth and development that aligns with the aspirations of both countries, particularly given that over 2,300 Uzbek companies are currently operating in the UAE market.
Exploring Promising Economic Opportunities
Continuing his remarks, His Excellency noted that the meeting represents a critical step towards discovering promising economic opportunities in both markets. The focus is on exploring how to transform these opportunities into practical partnerships and joint projects that would bolster economic collaboration and increase mutual investments. This also includes fostering direct communication channels between the business communities of the UAE and Uzbekistan, thereby maximizing future cooperation opportunities.
Enhancing the Business Environment and Economy
The UAE side presented several economic policies and measures aimed at improving the business environment and economy, continuing to open up to global markets, and fostering fruitful economic partnerships with vital regional and international markets. The discussions highlighted ongoing efforts to enhance the attractiveness of the UAE market for new economy projects and improve the competitiveness of its economic regulatory framework, establishing the UAE’s position as a leading economic hub for business and investment on both the regional and global stages.
The meeting also addressed recent economic facilitation packages and measures announced by the UAE to support the business and investment sectors in light of current economic and geopolitical changes. These include liquidity support for companies, reducing operational burdens, and enhancing customs facilitation, all of which contribute to empowering the private sector. Such initiatives ensure the stability and continued growth of economic activities, providing broader opportunities for Uzbek business partners to leverage the flexible and stimulating business environment in the UAE.
Furthermore, the two sides discussed enhancing their joint cooperation through the “Investopia Tashkent” initiative, which will take place in partnership with the Tashkent International Investment Forum. This event aims to explore promising economic and investment opportunities in the sectors of the new economy within both the UAE and Uzbek markets, as well as the broader Asian landscape.