Uzbekistan Strengthens Economic Ties with Kuwait

As part of the Kuwait-Uzbekistan Business Forum and an exhibition of Uzbek products, Uzbekistan’s Minister of Investments, Industry, and Trade, Laziz Kudratov, has highlighted the visit as a continuation of outcomes from President Shavkat Mirziyoyev’s official visit earlier this year.

Kudratov said the forum provides a platform to fully implement high-level agreements and deepen bilateral cooperation, The Caspian Post reports via Uzbek media.

He noted that direct flights between the two countries have increased to four per week, boosting tourism, business travel, and trade. New logistics corridors are also being created to facilitate smooth movement of goods, supporting trade growth.

Discussions covered major investment projects and joint venture opportunities in public and private sectors, focusing on attracting Kuwaiti technology, expertise, and capital to strategic Uzbek sectors, including oil and gas, chemicals, construction, real estate, and banking.

The minister emphasized Uzbekistan’s potential in food security, proposing agricultural cooperation either through direct supply of Uzbek products to Kuwait or establishing joint ventures for the Kuwaiti market.

Uzbekistan offers investor-friendly conditions, including 100 per cent ownership, protection against nationalization, freedom to repatriate profits, and currency convertibility. Over 18,000 foreign investors operate nearly 20,000 companies in the country, reflecting strong market confidence.

Kudratov invited Kuwaiti companies to visit Uzbekistan to explore opportunities firsthand, while Uzbek companies are ready to invest in Kuwait’s textiles, food industry, logistics, and distribution, paving the way for long-term bilateral partnerships.

The forum and delegation visit strengthen Uzbekistan-Kuwait economic ties, opening new avenues for mutually beneficial cooperation and joint projects.