The third meeting of the Council of Regions of the Republic of Uzbekistan and the Russian Federation has opened in Fergana Region. As part of the event, representatives of Russian regions are visiting major industrial enterprises in the region and taking part in business meetings and negotiations.

Uzbekistan and the European Union discussed the development of the Trans-Caspian Transport Corridor (TCTC), infrastructure investment and reforms aimed at improving the route’s efficiency. The second National TCTC Conference in Uzbekistan opened in Tashkent on September 30, bringing together government representatives, international financial institutions, development partners and the private transport and logistics sector.

US President Donald Trump has announced preparations for a “massive deal” to purchase potash from Belarus. According to Trump, Belarusian potash could be priced significantly below what Washington currently pays Canada, the main supplier of potash to the United States.

Karakalpakstan plans to introduce a carbon credit mechanism that could generate an estimated $50–100 million in annual revenue for the region. A forest carbon credit programme is also planned to cover 50,000 hectares in the Aral Sea region by the end of the year.

Uzbekistan’s Central Bank is considering transferring part of the country’s international reserves to external managers. Central Bank Chairman Timur Ishmetov made the statement on September 18 at the first International Forum on Public Asset Management in Tashkent.

During his visit to the Republic of Korea, President of the Republic of Uzbekistan Shavkat Mirziyoyev met with Kim Bom-ho, Acting President of Incheon International Airport Corporation.

President of the Republic of Uzbekistan Shavkat Mirziyoyev and Prime Minister of the Republic of Korea Han Duck-soo participated in the opening of a joint business forum.

Uzbekistan’s Xalq Bank has been included in Forbes’ inaugural World’s Top Performing Banks 2026 ranking, published on September 9. The bank ranked 142nd in Tier 6, which covers financial institutions with assets between $3 billion and $10 billion.

The first meeting of the Uzbekistan-Serbia Intergovernmental Commission on Economic Cooperation was held on September 7. It was co-chaired by Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov and Serbia’s Minister for International Economic Relations Nenad Popovic, with discussions focused on expanding trade, investment and industrial cooperation.

The Shanghai Cooperation Organisation is marking its 25th anniversary after evolving from a mechanism focused on border confidence-building into a 10-member organisation with a broad economic, transport and humanitarian agenda. At the anniversary summit in Bishkek, Uzbekistan proposed developing an “SCO–2040: A Space for Common Development” concept to further expand practical cooperation.

Canada has taken a firm position in its escalating trade dispute with the United States after bilateral negotiations broke down. Prime Minister Mark Carney suspended further talks, while Ottawa announced reciprocal measures in response to U.S. tariffs.

Uzbekistan absorbed $32.9 billion in foreign investment and loans in January–July 2026, reaching 131.1% of the established targets. Foreign direct investment and loans amounted to $30.3 billion.

Uzbekistan’s Navoi Region and Belarus’ Gomel Region are expanding cooperation in industry, trade, healthcare and workforce development. On August 21, Navoi Regional Governor Normat Tursunov and Ivan Krupko, Chairman of the Gomel Regional Executive Committee, signed a cooperation plan for 2026–2027.

Russia is working with Uzbekistan and Turkmenistan on the possibility of extending railway routes through Afghanistan and Pakistan toward the Indian Ocean. Russian Deputy Prime Minister Marat Khusnullin said the country’s Ministry of Transport is actively working on the initiative.

Uzbekistan and South Korea plan to double bilateral trade in the coming years, from nearly $2 billion to $4 billion annually. To support this target, the two sides plan to establish a joint working group focused on expanding trade and removing existing barriers.

Belarus and Samarkand Region have discussed expanding cooperation in the agro-industrial sector amid growing bilateral trade in agricultural products. The sides identified areas for further increasing trade and developing joint projects in agricultural processing.

Uzbekistan and Kazakhstan will remove tariff and non-tariff barriers on approximately 20 categories of goods starting August 10, a move expected to facilitate bilateral trade and expand business opportunities. The decision follows a meeting of the Intergovernmental Commission held in late July in Aktau with the participation of the prime ministers of both countries.

Uzbekistan and Saudi Arabia have discussed accelerating a US$260 million project to build a modern hazardous industrial waste management facility in Uzbekistan. The initiative was a key topic during talks between Aziz Abdukhakimov, Environmental Adviser to the President of Uzbekistan and Chairman of the National Committee on Ecology and Climate Change, Mohammad Abunayyan, Founder and Chairman of ACWA Power, and representatives of Vision Invest.

The United States is significantly increasing trade pressure on Canada. President Donald Trump has signed an executive order imposing an additional 50% tariff on a broad range of Canadian imports, arguing that the measure is necessary to protect American businesses and address what he described as unfair trade practices.

Uzbekistan and Türkiye are taking another step toward strengthening their economic partnership by expanding the list of goods covered by their preferential trade regime. The new agreements are expected to boost bilateral trade, increase exports and imports, and support the countries' goal of reaching $5 billion in annual trade turnover.