Companies from Uzbekistan and the UAE have entered into a series of new agreements. This was reported by the press service of the Ministry of Investments, Industry, and Trade.
On January 13, officials and company leaders from both countries held a meeting in Abu Dhabi, coinciding with the visit of Shavkat Mirziyoyev. The parties discussed the development of trade, economic, and investment cooperation, as well as opportunities for its expansion.
As of the end of 2024, bilateral trade turnover approached $650 million. In Uzbekistan, there are 337 enterprises with the participation of Emirati investors, including 114 joint ventures and 223 subsidiaries of foreign companies.
The volume of investments utilized in the past year increased by nearly 40%, exceeding $1.5 billion. Projects are underway in the fields of energy (including green energy), chemical industry, geology, transportation and logistics, and IT.
The Uzbekistan-Emirates Investment Company has included 7 projects in the fields of medicine, mining, agriculture, and tourism, totaling $192.5 million. Additionally, there are 9 more initiatives under development with a total value of $140 million.
During the meeting, 15 more agreements and contracts were signed with companies such as AMEA Power, Masdar, Solar Power Shine, M42, Burjeel Holdings, IFFCO, TWS, Alserkal Group, Metito, AD Ports, and Jetex, Emirates Group, etc.
The documents cover the energy and agricultural sectors, water supply, infrastructure projects, and the transport and logistics sectors. For example, the agreement with Jetex pertains to the development of Tashkent-East Airport and the provision of services in the business aviation sector.
Previously, Spot reported that Air Arabia launched direct flights from Tashkent to Ras Al Khaimah.