EU Pledges €12 Bn Investment in Central Asia

The European Union has underlined the growing strength of its economic ties with Central Asia, with EU Commissioner for International Partnerships Jozef Síkela telling the 3rd EU Central Asia Economic Forum in Tashkent on November 26 that the «business case for partnership» between the regions has never been stronger.

Opening the event, Mr Síkela praised Uzbekistan’s hospitality and said the forum reflected the momentum created by the first EU Central Asia Summit in April.

«We promised to enhance further our cooperation. Today, with this forum, we are putting our shared vision in practice,» he said.

Stronger trade ties

Mr Síkela stressed that Central Asia’s abundant natural resources, young and skilled workforce, and strategic location at the crossroads of east and west created major opportunities. The EU, he noted, brings advanced technology, strong investment capacity and experience in regional integration.

He placed particular focus on trade and the business climate. The EU remains Central Asia’s second largest trading partner, its biggest investor and its principal development partner. Trade between the regions rose by nearly 3% last year, though Mr Síkela said more progress was needed.

He highlighted the importance of Enhanced Partnership and Cooperation Agreements, pointing to the substantial gains achieved since the EPCA with Kazakhstan came into force. He welcomed recent progress with new agreements for Uzbekistan, Tajikistan and Kyrgyzstan. The EPCA with Uzbekistan was signed last month in Tashkent, Tajikistan’s agreement was initiated in June, and ratification is under way in Kyrgyzstan.

«These agreements will open new avenues for trade, diversification, and long-term growth for all of us,» he said, thanking regional partners for their work on the accords.

€12 bn Global Gateway package

Infrastructure formed the second main pillar of his address. Mr Síkela outlined the EU’s Global Gateway strategy, which channels coordinated investments from EU institutions, member states, development banks and private firms under the Team Europe approach. In Central Asia, Global Gateway has mobilised a €12 bn investment package across transport connectivity, critical raw materials, digital links, and the water energy climate nexus.

He emphasised the need to add value locally within critical raw materials sectors, not merely extract and export raw ores. This includes investments in energy and transport infrastructure to cut costs and emissions, regulatory support to attract foreign capital, skills training and strict environmental and social standards.

Mr Síkela said he would later announce the signing of six new agreements related to critical raw materials, aimed at improving transparency, accountability and joint project development.

Reflecting on the EU’s own experience of market integration, he encouraged Central Asian nations to continue strengthening institutions and economic coordination, noting that Europe’s achievements required decades of confidence building and investment.

«As in banking, I believe the best deals are the ones that last and deliver concrete benefits for all sides,» Mr Síkela said as he closed his address. «May today’s forum be about that defining of the mutual benefits and delivering on them.»

Kursiv also reports that earlier this month, Uzbekistan and Finland launched a joint portfolio worth $1 bn.