Uzbekistan–EU Economic Forum in Brussels

A Strategic Partnership for a Green, Digital, and Sustainable Future

By Kadir Duran – Bruxelles Korner & Derya Soysal
Brussels, October 2025

Brussels hosted a high-level event symbolizing the deepening of economic relations between the European Union and Uzbekistan. Oybek Shaykhov (Secretary-General) did an opening speech. The Uzbekistan Economic Day in Europe opened with a spectacular video tracing the country’s digital transformation since 2017.

The Uzbekistan Economic Day in Europe gathered ministers, senior officials from international financial institutions, and representatives of the European and Uzbek private sectors.
At the heart of the discussions: sustainable investment, green connectivity, digital transformation, and critical raw materials.

Teresa Ribera: “Building bridges, not walls”

Opening the event, Teresa Ribera, Executive Vice-President of the European Commission for a Clean, Just and Competitive Transition, stressed the strategic importance of the partnership between the EU and Central Asia.

“This forum illustrates our shared ambition to build bridges between Europe and Uzbekistan—based on mutual respect, sustainability, and shared prosperity,” she said.

Ribera recalled that the EU’s Global Gateway strategy, launched in 2021, is today a major tool for connecting Europe with its regional partners through tangible projects in transport, energy, digitalization, and water management.

“Central Asia—and Uzbekistan in particular—occupies a strategic position at the heart of new global trade corridors. Together we can create smart and green connectivity, strengthen climate resilience, and promote clean energy,” Ribera emphasized.

She praised Uzbekistan’s ongoing economic modernization and its efforts to attract European investors:

“The success of this transition depends on cooperation between governments, financial institutions, and the private sector. Europe stands ready to share its expertise and to invest sustainably in this rapidly growing region.”

Laziz Kudratov: “Uzbekistan is ready to become an economic hub between Europe and Asia”

In his address, Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, highlighted the new dynamic of cooperation between Tashkent and Brussels.
He announced that the Enhanced Partnership and Cooperation Agreement (EPCA)—to be signed the following day—would mark “a historic milestone” in bilateral relations:

“The EPCA opens a new chapter for our cooperation, offering a modern and secure framework for European companies wishing to invest in Uzbekistan.”

The minister also praised the role of the European Investment Bank (EIB) in translating the EU’s Global Gateway strategy into concrete projects:

“The EIB has been instrumental in turning our shared vision into tangible investments. From railway modernization to digital connectivity and clean energy, our joint projects embody the spirit of a new Silk Road.”

Among the flagship initiatives he cited were:
• Modernization of the A380 Nukus Highway, a key segment of the Trans-Caspian corridor;
• The Kambarata-1 hydropower project, where Uzbekistan will hold 33 % ownership;
• And a €60 million satellite connectivity program bringing high-speed internet to remote schools, clinics, and enterprises.

“These initiatives show that Uzbekistan is not merely trading with Europe—but co-building a shared prosperity,” Kudratov said.

A Common Vision for Sustainable Growth

Both leaders stressed a common vision of inclusive, green growth, founded on transparency, innovation, and sustainability.
Ribera reminded participants that critical raw materials, essential for green and digital technologies, must be managed responsibly:

“Supply chains must be diversified—but also sustainable and ethical. We must not repeat the mistakes of the past.”

A “New Silk Road” Built on Trust

Concluding his speech, Minister Kudratov evoked a powerful image:

“The ancient Silk Road once connected Samarkand and Bukhara to Venice and Constantinople—not only through trade, but through ideas, innovation, and trust.
Today, a new Silk Road is emerging—digital, green, and inclusive. The European Union is our natural partner on this path.”

Echoing that sentiment, Teresa Ribera added:

“Together, we are building bridges between Europe and Uzbekistan. Every step we take brings our peoples closer to a sustainable, secure, and prosperous future.”

Then, the Minister of Digital Technologies, Sherzod Shermatov, took the stage to present an ambitious and confident overview of Uzbekistan’s technological development — now a central pillar of the nation’s new economy.

Internet speed rankings have improved by 65 places, while IT service exports have skyrocketed — from just USD 600,000 in 2017 to USD 901 million in 2024, now reaching 90 countries worldwide.

“Uzbekistan has become a regional hub for information technology and innovation — an example of modernization, transparency, and global integration.”

Uzbekistan’s startup ecosystem is now the most dynamic in Central Asia and ranks second in the world for growth rate.

More than 600 startups are collectively valued at USD 1.2 billion, including two unicorns. Between 2020 and 2025, they raised USD 352 million, with USD 265 million in 2025 alone.

The minister emphasized that human capital is the true driving force behind this success:

“It’s not about cheap labor — it’s about talent.”

Blessed with its historical position on the Silk Road, Uzbekistan offers a unique cultural and linguistic mix — a fertile ground for innovation and international openness.

Cooperation with Europe and the Vision for 2030

With 161 European companies now operating in Uzbekistan’s IT Parks (up from 100 a year earlier), the minister invited European investors to join the momentum:

“Our motto is simple: the government contributes to your business growth.
We want to attract remote jobs to Uzbekistan — not see our youth leave to find them abroad.”

Uzbekistan’s 2030 goals are clear:

USD 5 billion in IT exports

300,000 digital specialists

The minister concluded with a message of openness and confidence:

“Join this story of safety, progress, and innovation — the story shaping the future of Uzbekistan and the digital world.”

Towards a Long-Term Partnership

The Uzbekistan Economic Day in Europe marks a decisive step in the rapprochement between Tashkent and Brussels.
Joint commitments on green corridors, clean energy, digital connectivity, and climate resilience confirm a shared ambition to transform Central Asia into a strategic investment hub linking Europe and Asia.