Uzbekistan and EU Ink Roadmap for Strategic Partnership on Raw Materials and Sustainability

Uzbekistan and the European Union have signed a roadmap for the implementation of a memorandum of understanding (MoU) aimed at fostering a strategic partnership focused on sustainable raw material value chains.

The agreement was formalized during the official opening of the 2024 European Economic Days in Tashkent, an event organized by the European-Uzbek Association for Economic Cooperation (EUROUZ), The Caspian Post reports. 

At the event, it was highlighted that nearly 1,000 European-invested companies now operate in Uzbekistan, with favorable conditions in place for joint ventures across multiple sectors, including electrical engineering, machinery, chemicals, mining and metallurgy, energy, agriculture, textiles, and tourism.

The European Union also reaffirmed its commitment to expanding collaboration in areas like information technology, mining, and mineral processing, which are expected to drive the establishment of new enterprises, job creation, and the development of new transport and logistics corridors.

Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, highlighted the significant achievements of the partnership, including more than $30 billion in joint projects with EU companies and the participation of over 320 EU representatives at the third Tashkent Investment Forum.

Additionally, Peter Stano, the European Commission’s lead spokesperson for foreign affairs and security policy, announced that a new Enhanced Partnership and Cooperation Agreement (EPCA) is being prepared between the EU and Uzbekistan. The agreement will cover critical areas such as political dialogue, human rights, migration, trade, and sustainable development, while also enhancing cooperation on global challenges like climate change, corruption, and counter-terrorism efforts.