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.

The U.S. Federal Reserve has made it clear that it does not intend to provide targeted support to the cryptocurrency industry in the event of a major financial crisis. The central bank stressed that its primary mission is to safeguard financial stability rather than rescue individual market participants.

BYD’s electric vehicle production project in Uzbekistan may enter a new stage of development, with plans to expand manufacturing capacity, deepen localisation and increase export volumes.

The Middle Corridor, energy market integration and greater private capital participation could become key drivers of a new phase of economic growth in Central Asia. Participants in an international discussion on regional cooperation, investment and open trade reached this conclusion.

The consistent strengthening of macroeconomic stability, bolstered by stringent fiscal discipline and the successful execution of structural reforms, has enabled Uzbekistan to significantly reduce the perception of sovereign risks in international financial markets and move closely toward the pool of investment-grade nations. The international rating agency Moody’s Ratings has upgraded the sovereign credit rating of the Republic of Uzbekistan from Ba3 to Ba2, shifting the outlook from positive to stable. This milestone reflects the expert community’s recognition of the high efficiency of government policy, diversified economic growth, and the national system's enhanced resilience to external shocks.

At the regular plenary session chaired by President Shavkat Mirziyoyev, the outcomes of the structure's activities during the reporting period were reviewed. The Head of State expressed his deep gratitude to the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, for her support of the reforms and efficient co-chairmanship of the council, and welcomed the executives of leading multinational enterprises.

Dynamic structural reforms and consistent improvements in corporate governance have enabled Uzbekistan to establish itself on the global investment map in the shortest possible time; however, to attract the largest international players, it is critically important for the republic to build a strong domestic investor base and modernize its financial sector. This conclusion was reached by participants during a specialized session at the Tashkent International Investment Forum. Renowned international experts emphasize that an external investment narrative will not yield long-term success without the parallel development of national institutions for long-term savings, life insurance, and capital markets.

A historic record in business activity was registered at the V Tashkent International Investment Forum, where American investors clearly signaled their intent to establish a firm foothold in the Central Asian market. The US–Uzbekistan Business Forum, held at the CAEx Uzbekistan exhibition center, gathered an unprecedented number of participants and concluded with the signing of a package of agreements that will transform the Republic's most high-tech and resource-intensive sectors.

Uzbekistan is positioning itself as the primary gravitational hub for global capital and the epicenter of a reshaping economic reality in Central Asia. From June 16 to 18, the CAEx exhibition venue will host the fifth Tashkent International Investment Forum (TMIF-2026), an event that has already shattered all historical precedents regarding participant numbers and corporate scale. More than 8.3 thousand delegates from 100 nations have registered for this massive summit, with the combined assets of the participating investment funds and conglomerates reaching an unprecedented $42 trillion—equivalent to 38% of global GDP. Top executives from premier multinational giants, including BlackRock, JPMorgan Chase, Visa, Masdar, Airbus, and Meta, are arriving in the capital, while representation from the real sector has expanded by a third, exceeding 2,780 business leaders.