Uzbekistan and Kuwait are strengthening economic and investment cooperation. As part of the last business forum. The parties discussed promising areas of partnership and concluded a number of agreements aimed at expanding trade and economic relations.
Economic growth and investment attractiveness
The Minister stressed that Uzbekistan creates comfortable conditions for foreign investors. The country has introduced tax incentives, eliminated administrative barriers, implemented a privatization program, and provided duty-free access to the CIS and EU markets.
Uzbekistan's economy has grown significantly in recent years. In 2024, the country's GDP increased by 6,5%by reaching $115 billion, and the volume of foreign investment increased in 1.6 timesby adding $34.9 billion.
Strategy "Uzbekistan-2030" It is aimed at continuing economic reforms and provides for an increase in the country's GDP to $200 billion by 2030. As part of the strategy, it is planned to attract $110 billion foreign direct investment and export growth up to $45 billion per year.
Key areas of cooperation
During the business forum, the parties identified priority areas of cooperation, including::
- Agro-industrial sector,
- Textile industry,
- Mining operations,
- Energy and petrochemicals,
- Healthcare and pharmaceuticals,
- Logistics and tourism.
Head of the Kuwait Chamber of Commerce and Industry Rabah al-Rabah He highly appreciated Uzbekistan's efforts to create a favorable business climate. The forum also included negotiations in the following formats: B2B and G2Bthe participants got acquainted with the products of Uzbek manufacturers at the organized exhibition.
Results of the business forum
The Forum ended with the signing of a number of documents investment agreements and trading contractswhich, according to the participants, will contribute to the further development of business ties between the two countries.
Official visit of the President of Uzbekistan to Kuwait
President of Uzbekistan Shavkat Mirziyoyev will visit Kuwait February 17-18 at the invitation of the Emir Mishaal Al-Ahmad Al-Jaber Al-Sabah.
During the visit to Kuwait City will pass bilateral negotiations at the highest level, meetings with government representatives, as well as heads of leading Kuwaiti companies and financial structures. Following the meetings, it is expected to sign package of bilateral agreements.
Diplomatic relations between Uzbekistan and Kuwait
Kuwait recognized the independence of Uzbekistan in 1991, and in in 1994 diplomatic relations were established. Kuwait Embassy in Tashkent opened in 2001, and the Embassy of Uzbekistan in Kuwait-in 2004.
The countries actively cooperate within the framework of international organizations, including: The UN and the Organization of Islamic Cooperation, and also held two rounds political consultations.
Trade and economic cooperation between Uzbekistan and Kuwait is developing thanks to the implementation of the business forums and exhibitions in Tashkent, Ferghana, Syr Darya and Kuwait.
