Trade between Uzbekistan and China dropped by 3.3% to $12.34bn in 2024, according to the Telegram channel Balbatas.
Meanwhile, trade turnover between China and Central Asian countries grew by 5.9%, reaching $85.58bn in the first 11 months of the year.
Kazakhstan boosted trade with China by 8.7% to $40.07bn. Kyrgyzstan recorded an 11% rise, bringing the total to $19.86bn. Turkmenistan saw modest growth of 0.4%, reaching $9.76bn. In contrast, Tajikistan’s trade fell by 1.6% to $3.55bn.
The Tatar company Kukmara, which specialises in cookware production, plans to establish a new plant in the Tashkent region of Uzbekistan. This was announced by Oleg Korobchenko, the Minister of Industry and Trade of Tatarstan.
According to the minister, launching the plant will be a significant step for Kukmara to enter the Uzbek market, though the timeline for the project has not been disclosed.
Kukmara is a brand known for manufacturing kitchen utensils and household goods, with its factory located in the town of Kukmor in Tatarstan, Russia. The company exports its cookware to various countries, including Uzbekistan.
Plans are underway to build a waste processing plant in Yangiyul. An agreement for the project was signed between Khokim Ravshan Raimov and representatives from Beijing China Science Runyu Technology Environmental Co. Ltd.
The new plant is expected to create over 250 jobs and serve Yangiyul and the neighbouring districts of Kuyichirchik, Akkurgan and China.
A working group has been established, and a feasibility study is underway. The project will include delivering 100 units of waste transport equipment and initiating construction and installation work.
Kursiv Uzbekistan also reports that the cookware manufacturer Kukmara plans to open a factory...
The European Bank for Reconstruction and Development (EBRD) has announced that it will provide a loan of $66.4 mln for the construction of a power transmission line in Uzbekistan, according to a statement from the financial institution.
The loan will be received by the National Electric Networks of Uzbekistan. The transmission line will span 230 kilometers, connecting the settlements of Sarimai in the Khorezm Oblast and Muruntau in the Navoi Region. This project is expected to reduce the frequency of power outages in the area.
Furthermore, the construction of the transmission line will facilitate the integration of renewable energy...
According to the Statistical Agency of Uzbekistan, Uzbekistan exported textiles worth $2.6 bn to foreign countries from January to November 2024. This figure represents a 6.4% decline compared to last year’s period.
The country’s primary export was yarn, totalling $1.1 bn, followed by finished textiles at $1 bn and knitwear at $271.4 mn.
Kursiv Uzbekistan also reports that the British company FashionNet is willing to help Uzbek textile manufacturers promote their products.
The government has announced the establishment of an aircraft repair center at Aktau airport, aiming to transform it into a central aviation hub for Central Asia, according to Kazakhstan’s Transport Minister Marat Karabayev during a parliamentary session.
This center will service civil and military aircraft from Central Asia and Russia. The project is expected to increase the annual turnover of the Aktau air harbour to KZT 520 bn (approximately $992 mln).
In addition to constructing the repair center, the airport’s infrastructure will also be upgraded. Plans include building a refuelling complex and enhancing the runways, enabling the air harbour...
The number of operating cryptocurrency shops in Uzbekistan has decreased from seven to six, as reported by Kursiv Uzbekistan.
At the end of October this year, the National Agency for Prospective Projects (NAPP) revoked the license of Crypto Trade Net. The agency informed Kursiv Uzbekistan that Crypto Trade Net had requested the cancellation of its license.
According to the USREO, Crypto Trade Net was established in September 2019 and is based in Navoi. As of December 24, 99.9% of the company’s shares belong to Crypto Express, while Khurshid Aripov holds 0.1%.
Kursiv Uzbekistan also reports that in early July...
China is planning to issue a record amount of treasury bonds totalling three trillion yuan (approximately $411 bn for 2025, according to sources from Reuters.
The funds will be allocated to stimulate the economy and boost domestic demand. The government intends to expand consumption subsidy programs, support industrial modernization and recapitalise major banks.
The biggest assistance will be directed toward companies involved in semiconductor production, electric vehicle assembly and infrastructure development.
Chinese authorities anticipate that these unprecedented financial injections will help combat deflation and the stagnation of domestic demand. They aim to partially mitigate the potential impact of a...
Uzbekistan has approved a strategy for developing its public procurement system through 2027. The relevant decree from the country’s President has been published, as the Ministry of Justice reported.
The document outlines plans to expand the use of digital technologies and promote “green” public procurement practices. It aims to introduce new tools for monitoring, analysing, and ensuring compliance with the contracts of participating organisations.
Additionally, the authorities intend to encourage more entrepreneurs to engage in public procurement. Work will continue on legal documents that regulate this area.
Kursiv Uzbekistan also reports that Uzbekistan is ready to establish a...
On December 24, the dollar exchange rate at currency exchanges in Uzbekistan increased by 7.8 soums, reaching approximately 12,909.80 soums. The Central Bank of Uzbekistan has set the exchange rate for the US dollar at this same level.
The dollar is being purchased for 12,840 to 12,865 soums at bank exchange offices and sold for 12,905 to 12,965 soums.
Kursiv Uzbekistan also reports that by 2027, the volume of remittances to Uzbekistan is expected to reach $20 bn.
The project office that will be established in Karakalpakstan will focus on the development of three key areas: industry, agriculture and tourism, according to Saida Mirziyoyeva, Assistant to the President of Uzbekistan.
During a recent meeting regarding the development of Karakalpakstan, Mirziyoyeva highlighted discussions centered on strategies to increase investment in the region’s economy. The meeting also addressed ways to enhance the quality of life for local residents and create job opportunities.
“The scale of tasks for the coming year is immense, and we will make every effort to successfully achieve all our objectives,” Mirziyoyeva stated on her Telegram...
Uzbekistan will receive the status of a BRICS partner country starting from January 2025, according to Russian presidential aide Yury Ushakov, as reported by TASS.
This category of BRICS partner countries was established at the organization’s summit in Kazan in 2024. Invitations were sent to 13 nations, with nine, including Uzbekistan and Kazakhstan, already confirming their participation.
Official representatives from these partner countries will be able to join various BRICS summit events and ministerial meetings. Ushakov also mentioned that they will be invited to security meetings and parliamentary forums.
The current BRICS membership includes Brazil, China, Egypt, Ethiopia, India...
Uzbekistan aims to enhance the popularisation of kurash, as indicated by a decree from President Shavkat Mirziyoyev.
The International Kurash Institute will begin training internationally certified coaches and referees to support this initiative. Additionally, it plans to send sports coaches to foreign countries.
The university will also contribute to the introduction of new trends in kurash and implement measures to promote them.
Kursiv Uzbekistan also reoprts that Nigmatilla Yuldashev has been reelected as the head of the Uzbekistan Kurash Federation.
The World Bank (WB) has approved the allocation of $3.5 million for a solar power plant project in the Khorezm region, as reported by the financial organisation’s press service to Kursiv Uzbekistan.
The funding will be provided in the form of a bank guarantee. The French company Voltalia is responsible for constructing the project.
The power plant is scheduled to be launched in November 2025, with a capacity of 100 MW. It is expected to produce 240 GWh of electricity annually and prevent the emission of 230,000 tonnes of greenhouse gases.
According to the contract terms, Voltalia’s subsidiary, Sarimay Foreign...
The capital’s underground will open at 5:00 AM on December 31 and will operate until 2:00 AM on January 1, according to a report from the underground’s press service.
On New Year’s Eve, the metro will close two hours later than usual and one hour later than it will on the night of January 1, 2024.
The following day, the underground will return to its regular schedule. However, the press service has warned that there will be scheduled maintenance during the extra weekend, which may impact train intervals and schedules.
Kursiv Uzbekistan also reports that the Tashkent underground...
The Central Bank of Uzbekistan has joined the Islamic Financial Services Board (IFSB), as reported by the regulator’s press service.
This membership will provide the Central Bank of Uzbekistan access to international experience and the opportunity to implement best practices in regulating the Islamic financial services market.
The IFSB was established in 2022, with its headquarters in Kuala Lumpur. The board consists of 188 members, including 81 regulators and ten international governmental organizations.
Kursiv Uzbekistan also reports that the Central Bank of Uzbekistan has maintained the key interest rate at 13.5%.
It is planned to attract $3.1 bn in investments to Karakalpakstan by 2025, with $1 bn allocated to new regional projects, as reported during a meeting with the President of Uzbekistan, Shavkat Mirziyoyev.
These investments will facilitate the launch of 120 enterprises, increase exports to $500 mln, and reduce unemployment to 5.4%. It is expected that 150,000 people will find jobs, and 20,000 low-income families will gain additional sources of income.
A 1 GW wind farm is currently under construction in the region, with plans to initiate projects totalling 9.3 GW in capacity, aiming to generate 33 billion kWh...
Uzbekistan will begin using space technologies for scientific research and to address economic and environmental challenges. The Senate of the Oliy Majlis has approved the “Space Activities Law,” which outlines the key concepts, principles, and directions of state policy in the space sector.
The document covers areas such as Earth remote sensing, space monitoring, satellite communications, and navigation. It also regulates the use of spaceports, the leasing and disposal of space objects, infrastructure security, and environmental protection.
Two investors have submitted applications for the privatisation of a 70% state stake in Uz Chasys, according to the Agency for the Management of State Assets (SAMA).
The investors have been allowed to move forward to the next stage of privatisation. By January 31 of the coming year, they are required to submit binding offers (BO) to the consultant Portfolio Investments.
AMS Co. Ltd which owns a 30% share of the company, is ready to sell its securities package.
Uz Chasys has been operating in Uzbekistan since 2008. The company primarily produces lighting systems for Chevrolet Cobalt, Lacetti, and...
Alisher Kadyrov, leader of the “Milliy Tiklanish” party, has criticised the Russian State Duma’s recently passed law, which prohibits the enrolment of migrant children who do not speak Russian in schools.
The politician expressed his dissatisfaction, noting that Russian lawmakers chose not to focus on teaching the Russian language, but rather on expelling people who do not know it and excluding their children from schools. In his opinion, this law could lead to a decline in both the demand for and respect for the Russian language in post-Soviet countries.
Kadyrov also emphasised that thousands of compatriots working in Uzbekistan’s...
Uzbekistan’s exports through the Termez International Trade Centre, located on the border with Afghanistan, reached $15.5 mn, according to the Customs Committee of Uzbekistan.
The centre opened in August 2024 and has become highly popular among Afghan citizens. Over 2,000 residents of the Islamic Emirate of Afghanistan enter the centre daily. They are allowed to stay within the trade centre for up to 15 days without a visa.
During a meeting with Afghan counterparts, representatives from Uzbekistan’s Customs Committee discussed border control, currency exchange, and the issuance of permits.
Afghan citizens visit Termez for food, consumer goods, and medical...
Between January and November 2024 Uzbekistan exported goods and services worth $24.2 bn, marking an annual growth of 4.4%, according to data from the Statistics Agency.
During the same period imports totalled $35.1 bn, up 3% compared to the corresponding period in 2023.
The total trade turnover exceeded $59.3 bn, reflecting an annual growth of 3.6%. Uzbekistan’s key trading partners were Asian and European countries, accounting for $27.3 bn and $25.2 bn, respectively.
Trade with North America amounted to $1 bn, while South America accounted for $492.7 mn. Trade volumes with Africa and Australia stood at $85.4 mn and...
US authorities deported 572 Uzbek nationals in the 2024 fiscal year, a 6.5-fold rise compared to the previous year, according to the US Immigration and Customs Enforcement (ICE) report.
In 2022, the number of deported Uzbeks was 21, while in 2021, it was 55.
In 2023, US officials revealed that 17,000 Uzbeks entered the country illegally. Overall, 50,000 people from Central Asia crossed into the US.
Washington raised concerns that some of these illegal migrants from Central Asia could belong to dormant terrorist cells.
Uzbekistan aims to produce 26.5 bn cubic metres of gas next year. The figure was presented to the country’s president, Shavkat Mirziyoyev, during a meeting on the results of the work of the “Uzbekneftegaz” company, according to the “Uzbekistan 24” TV channel.
To achieve this goal, $2 bn in foreign investments will be allocated to explore the country’s gas fields.
The Chairman of the Board of “Uzbekneftegaz”, Bahodir Siddikov, noted that one of the main challenges in the sector is the shortage of skilled personnel.
«The country has significant potential. However, we are facing a lack of technology and...