Uzbekistan, Czech Republic Strengthen Economic Ties with New Agreements at Tashkent Business Forum

Tashkent, The Gulf Observer: Uzbekistan and the Czech Republic have reaffirmed their commitment to expanding bilateral trade and investment cooperation, as the Uzbekistan–Czech Business Forum convened in Tashkent during the official visit of Czech Prime Minister Andrej Babiš.

The forum was attended by Prime Minister of Uzbekistan Abdulla Aripov and his Czech counterpart, bringing together representatives from leading industrial enterprises, investment firms, and financial institutions of both countries.

A high-level Czech delegation comprising heads of more than 50 major companies participated in the event, representing key sectors including mechanical engineering, energy, pharmaceuticals, chemicals, as well as transport and logistics.

Officials noted that bilateral trade turnover between Uzbekistan and the Czech Republic has doubled over the past eight years, reflecting the steady growth of economic relations. Currently, 36 joint ventures with Czech capital are operating in Uzbekistan, with successful cooperation spanning pharmaceuticals, the food industry, construction materials, and tourism.

During the forum, both sides explored a wide range of promising areas for future collaboration. Czech companies were invited to engage in projects related to the extraction and advanced processing of copper and other non-ferrous metals, as well as the localization of mining equipment production.

Discussions also focused on expanding cooperation in energy and infrastructure, including the construction of hydropower plants, the deployment of cogeneration units, digital transformation of the sector, and enhancing energy efficiency.

In the field of innovation, the two sides examined opportunities to develop joint digital products for third-country markets by leveraging Uzbekistan’s growing IT sector, including its IT park ecosystem and a workforce exceeding 100,000 specialists.

The forum further addressed prospects for joint production of mineral fertilizers, polymers, and household chemicals within Uzbekistan’s chemical clusters, alongside expanding collaboration in the pharmaceutical industry.

Highlighting the strategic geographical positions of both nations, participants emphasized that the Czech Republic serves as a gateway to European markets for Uzbekistan, while Uzbekistan offers access to Central Asia for Czech businesses. In this regard, proposals were put forward to establish trade houses and logistics centers in both countries on a reciprocal basis.

The Uzbek side also presented investment opportunities available in special industrial zones, outlining incentives designed to attract European investors.

Prime Minister Andrej Babiš reaffirmed his country’s readiness to deepen mutually beneficial cooperation and introduced concrete investment proposals during the discussions.

The forum concluded with the signing of a package of key agreements and documents aimed at further strengthening trade, economic, and investment ties between Uzbekistan and the Czech Republic.