President Mirziyoyev calls for deeper economic ties with EAEU amid foreign investment slowdown

According to the president, Uzbekistan is acutely experiencing the negative consequences of rising protectionism and sanctions, disruptions in trade and logistics chains, and a gradual decline in investment activity from foreign partners.

“I would like to emphasize that one of the top priorities of our foreign economic policy is to further expand and deepen mutually beneficial cooperation with the countries of the Eurasian Economic Union, which are our natural and traditional partners,” he stated.

Trade and economic growth with the EAEU

President Mirziyoyev shared progress in Uzbekistan’s collaboration with the Eurasian Economic Union (EAEU) since becoming an observer state four years ago. Over this period, Uzbekistan’s foreign trade turnover with EAEU countries has increased by 80%, reaching $18 billion by the end of last year.

He noted with satisfaction that the product range in trade operations is expanding, primarily due to the growth in industrial product deliveries. The number of joint ventures and projects has tripled.

Recent milestones and future plans

In March of this year, the fourth meeting of the Joint Working Group was successfully held. As a result, a set of coordinated actions was developed to gradually eliminate technical barriers, deepen industrial cooperation, and promote business initiatives.

“We have embarked on implementing a new three-year plan that includes 40 specific measures,” the President noted.

He stressed the need to accelerate expert reviews of Uzbekistan’s proposals aimed at simplifying trade procedures and aligning technical regulation systems with those of the EAEU.

Integration into digital and infrastructure ecosystems

Uzbekistan is also interested in joining mechanisms that support trade, such as digital technical regulation systems, the EAEU’s digital transport corridors ecosystem, and the Eurasian Reinsurance Company. According to Mirziyoyev, these tools would significantly ease the conditions for doing business and facilitate mutual access to markets.

Given the rapid advancement of information technology and artificial intelligence, multilateral cooperation in digitalization was highlighted as a promising area.

He also emphasized that Uzbekistan is ready to participate in the integrated information system of border checkpoints, which would help accelerate border crossing, improve monitoring efficiency, and enhance transparency in all related processes.

“Technically, we are ready to actively participate in such projects,” said the president.

Support for SMEs and regional programs

Mirziyoyev also proposed expanding practical cooperation with the Eurasian Economic Union’s Business Council, including within programs supporting small and medium-sized enterprises and joint initiatives to foster cooperation.

Additionally, he announced that Uzbekistan will join the EAEU’s “Work Without Borders” integrated platform, which facilitates cross-border employment and labor integration.