Today's Edition
ABU DHABI (WAM)
The visit of President Shavkat Mirziyoyev of the Republic of Uzbekistan to the UAE marks a significant milestone in strengthening the strategic partnership between the UAE and Uzbekistan. Bilateral relations have seen remarkable progress in recent years, particularly in the fields of clean energy and sustainability projects.
High-level meetings and official visits by leaders and officials of both nations have been pivotal in driving this cooperation forward.
Currently, joint investment projects worth over US$4 billion are underway, with Masdar, Mubadala, DP World, the Abu Dhabi Fund for Development, and other Emirati companies participating.
These projects include clean energy and waste management projects, such as a project for electricity generation through thermal waste utilisation in Bukhara and Navoi regions valued at $200 million, a project to construct a 1,000 MW wind power plant in Uchkuduk district of Navoi region, and a project for the development of sustainable agricultural production systems in degraded areas worth $1 million to establish a genetic seed bank of desert salt-tolerant plants.
Further collaboration includes a joint research programme on sustainable development goals between the UAE University and Green University (Central Asia Green University in Uzbekistan) for students from both countries. This initiative aims to train a new generation of specialists capable of addressing pressing environmental issues and making a significant contribution to the region's sustainable development.
Trade between the UAE and Uzbekistan has grown significantly, increasing more than 1.5 times over the past three years.
According to statistics, the total volume of non-oil trade between the two countries increased significantly by 113 percent from 2018 to 2019, reaching $689 million in 2019.
During the fifth session of the joint economic committee held in Tashkent in May, both countries agreed to enhance cooperation in sectors such as the new economy, tourism, entrepreneurship, financial technology, innovation, transportation, renewable energy, logistics, agriculture, food security, and infrastructure.
The tourism sector, in particular, has flourished. Over 65,000 Uzbek tourists visited the UAE in 2023, representing a 30 percent increase compared to 2022.
According to the New Uzbekistan Development Strategy, the country aims to align national policies with the Sustainable Development Goals (SDGs), supported by legal and regulatory framework reforms to promote private entrepreneurship and attract investments.
Speaking to the Emirates News Agency, K.B. Tursunov, Deputy chairman of the Committee of the Oliy Majlis Senate for budget and economic matters, highlighted the critical role of financing in achieving the SDGs.
He cited World Bank estimates, which suggest that the volume of investments required to achieve the Sustainable Development Goals requires between $2 trillion and $4 trillion annually, representing approximately 14% of the global GDP.
Uzbekistan, he added, needs to attract additional investments of at least $6 billion annually to meet its national SDG targets.
He explained that according to the analysis of Uzbekistan's Development Finance Assessment achieving the national Sustainable Development Goals requires attracting additional investments of no less than $6 billion annually. He stressed that the country aims to raise the proportion of resources allocated in the general budget to achieve the Sustainable Development Goals from 69% in 2024 to 72% in 2025.
In April 2019, the Governments of the UAE and Uzbekistan signed a strategic partnership agreement for government modernisation. This agreement encompassed the launch of joint initiatives and projects, further solidifying the strong and growing ties between the two friendly nations.
Diplomatic relations between the UAE and Uzbekistan were established in 1992 with the opening of the Uzbek Consulate General in Dubai. The Uzbek Embassy was established in Abu Dhabi in 2007, and the UAE opened its Consulate General in Uzbekistan in 2004.
