| Economy

Uzbekistan is strengthening cooperation with the Organization of Turkic States

Economy

President of Uzbekistan Shavkat Mirziyoyev held a meeting on February 18 in Tashkent with the Chairman of the Council of Elders of the Organization of Turkic States (OTS), former Prime Minister of Turkey Binali Yildirim. In addition to participating in the urban planning forum, Yildirim's visit was dedicated to strengthening cooperation between the Turkic countries.

India and the US to Increase Trade Volume to $500 Billion

Economy

The United States and India aim to increase their bilateral trade volume to $500 billion (€478 billion) by 2030. Indian Prime Minister Narendra Modi announced this during a press conference with US President Donald Trump in Washington on Thursday, February 13.

Permission Granted to Establish Microfinance Banks

Economy

A "link" connecting microfinance organizations and commercial banks will now be established, along with the ability to attract additional financial resources, including deposits, for microfinance institutions.

Europe has reached a two-year high in gas prices

Economy

The exchange price of gas in Europe has jumped sharply, exceeding $620 per thousand cubic meters for the first time since 2023. The main reason is the cessation of Russian gas transit through Ukraine, which has increased instability in the EU energy market.

Number of Benefit Recipients in Uzbekistan Exceeds 708,000

Economy

According to the Pension Fund under the Ministry of Finance of the Republic of Uzbekistan, as of February 1, 2025, the number of benefit recipients without work experience has reached 708,731. This figure increased by 48,959 compared to the same period last year.

Trade between Uzbekistan and France reached a record $1.13 billion

Economy

Economic ties between Uzbekistan and France are developing rapidly. Over the past seven years, trade turnover between the countries has increased fivefold, and the number of French companies in the republic has grown almost fourfold.

Who Earns the Highest Salaries in Uzbekistan?

Economy

Salaries in Uzbekistan vary significantly across different industries. As of the end of 2024, the average nominal salary in the country was 5.3 million UZS, while in Tashkent, this figure reached 9 million UZS.

Uzbekistan Strengthens Cooperation with Turkmenistan in Transport, Transit, and Communications

Economy

In Ashgabat, key issues of Uzbekistan-Turkmenistan cooperation in the fields of transport, transit, and communications were discussed. Uzbekistan’s Ambassador Ravshanbek Alimov held talks with Mammetkhan Chakiyev, Director General of the Transport and Communications Agency under the Cabinet of Ministers of Turkmenistan.

Trump Increases Pressure: New Tariff Threats Targeting the EU, China, Canada, and Mexico

Economy

U.S. President Donald Trump has once again announced plans to impose tariffs on the European Union (EU), China, Canada, and Mexico. In his statements, he emphasized the need for fair trade and efforts to combat the flow of illegal migrants and fentanyl, which is reportedly trafficked from China through Mexico and Canada.

Get Your Taxes Refunded in the UK

Economy

Uzbek citizens who have worked in the United Kingdom now have the opportunity to claim back the taxes they paid during their employment. This was announced by the Press Secretary of the Migration Agency, Ortiqxo'ja Norov, on his personal Telegram channel.

Timur Ishmetov is expected to be appointed as the new chairman of the Central Bank

Economy

The chairman of the Central Bank of Uzbekistan, Mamarizo Nurmurodov, is expected to be relieved of his position. The President submitted a proposal to the Senate of the Oliy Majlis for his dismissal.

The dollar fell after a short rise

Economy

The Central Bank of Uzbekistan has established new exchange rates of foreign currencies against the sum.

Uzbekistan’s Foreign Trade Turnover Exceeds $48 Billion

Economy

From January to September 2024, Uzbekistan's foreign trade turnover reached $48.2 billion, an increase of $3.5 billion or 7.7% compared to the same period in 2023.

The Future of Creative Economy Discussed in Tashkent

Economy

On October 2, the IV World Conference on Creative Economy began in Tashkent, a significant event for everyone who believes in the power of creativity and innovation. Over 2,000 participants from more than 80 countries gathered to discuss the future of creative industries, share experiences, and create new opportunities for collaboration.

Turkish investors will build a solar power plant in Fergana region

Economy

According to the press service of the Fergana regional government, Turkish investors are planning to build a photoelectric plant in the Fergana region.

U.S. National Debt Set to Reach Unprecedented $54 Trillion

Economy

The U.S. national debt could surge to $54 trillion within the next decade, posing a serious threat to the country's global standing.

Uzbekistan Evaluates Shadow Economy for the First Time: GDP Increases

Economy

For the first time, Uzbekistan has conducted an evaluation of its shadow and informal economy. The results show that the country's GDP in 2023 increased by an additional $10.7 billion, reaching a total of $101.6 billion.

Uzpromstroybank Wins Three Prestigious "Euromoney" Awards

Economy

On July 18, at the "Euromoney" international magazine's "Banking and Finance Sector - 2024" awards ceremony held in London, Uzpromstroybank was honored with three prestigious awards.

Uzbekistan earned over $21.4 million from the export of apples and apricots

Economy

A total of 12,500 tonnes of apricots were exported to 29 different countries worldwide. China, Kazakhstan, and Russia made the largest apricot purchases.

Media report on EU preparations for trade war with China

Economy

The European Union is preparing for a large-scale trade war with China over duties on electric cars. This is reported by "Izvestia" with reference to The Economist.