| Economy

The EU is preparing retaliatory tariffs for €72 billion

Economy

The European Union has published a list of 72 billion euros worth of American goods that could fall under retaliatory tariffs if the US does not abandon the introduction of 30% tariffs on European imports from August 1st.

The Tehran Declaration of the ECO was adopted

Economy

In Tehran, the transport ministers of the Economic Cooperation Organization (ECO) member states adopted a final document - the Tehran Declaration, which outlines joint measures for infrastructure development and strengthening ties in the region.

BMB HOLDING is Emerging as Uzbekistan’s Export Brand

Economy

On April 24, 2025, an important meeting took place at the headquarters of BMB HOLDING, attended by the U.S. Ambassador to Uzbekistan, Jonathan Henick, and Chairman of the Supervisory Board of the Holding, Bekzod Mamatqulov. The ambassador closely familiarized himself with the company’s operations, products, and production technologies.

OpenAI has become "own" in Uzbekistan

Economy

One of the world leaders in artificial intelligence - OpenAI, which developed ChatGPT, is now officially present in the tax field of Uzbekistan. This means that OpenAI will pay VAT for providing its digital services within the country.

Central Bank Raises Key Interest Rate to 14% Amid Rising Inflation

Economy

The Board of the Central Bank of Uzbekistan has decided to tighten monetary policy by increasing the key interest rate by 0.5 percentage points — from 13.5% to 14% annually. The measure aims to curb inflationary pressures and ensure price stability in the economy.

Kyrgyzstan Wants to Export Agricultural Products to the U.S.

Economy

Kyrgyzstan hopes for simplified trade procedures for exporting honey, dried fruits, and other agricultural products to the United States.

"Namangan" Special Export Zone to Be Established

Economy

In order to accelerate Uzbekistan's economic development and enhance its export potential, a new special export zone – "Namangan" Special Export Zone – will be established in the Namangan region, in accordance with the Presidential Decree (PF-41). This project will create new opportunities for local manufacturers and facilitate their entry into foreign markets.

The Republic of Uzbekistan Has Issued Its Next Sovereign International Bonds

Economy

The Republic of Uzbekistan has placed its next sovereign international bonds on global financial markets, with a total equivalent value of approximately $1.5 billion. This was reported by the Ministry of Economy and Finance.

The EU will continue to pressure the Kremlin

Economy

The European Union has agreed on a new package of sanctions against Russia, which includes banning the import of primary aluminum, blocking 73 Russian tankers, and disconnecting 13 banks from SWIFT. The decision was made against the backdrop of Donald Trump's attempts to initiate talks on Ukraine, which is causing concern in Brussels.

Gold Prices in Uzbekistan Hit Record High

Economy

Uzbekistan has recorded a new historical peak in gold prices—a five-gram gold bar now costs 6.29 million soums, surpassing the previous record. Since the beginning of the year, the precious metal has risen by more than 11%, reflecting the growing interest of investors.

Türkiye Lifts Restrictions on Syrian Imports

Economy

Türkiye has lifted the ban on Syrian imports. The Turkish Ministry of Trade has authorized the import of Syrian goods and products. This was announced by Mazen Alloush, head of the General Authority for Land and Sea Ports.

India Plans Special Tariff Concessions for the U.S.

Economy

Indian Prime Minister Narendra Modi is planning additional tariff concessions ahead of his meeting this week with U.S. President Donald Trump. These measures aim to boost American exports and prevent a potential trade war, government officials said.

Uzbekistan is strengthening cooperation with the International Finance Corporation

Economy

In Tashkent, a meeting was held between the Deputy Prime Minister - Minister of Economy and Finance of Uzbekistan, Jamshid Kuchkarov, and a delegation of the International Finance Corporation (IFC) headed by its regional director, Vibke Schlomer. The parties discussed further expanding investment cooperation and implementing key reforms.

Uzbekistan to Start Purchasing Coal from Afghanistan

Economy

The Uzbekistan delegation held a meeting with the Afghan side and signed a $4.5 million contract. During negotiations with representatives of Afghanistan’s Ministry of Industry and Trade, Uzbekistan’s economic delegation expressed readiness to import Afghan coal.

Poverty Rate in Uzbekistan Decreased to 8.9% in 2024

Economy

Based on the results of 2024, the poverty rate in Uzbekistan was determined according to international standards. According to these calculations, the 2023 figure of 11% dropped to 8.9% by the end of 2024. This means that the poverty rate stands at 3.3 million people, a decrease of 719,000 compared to 2023. These results were determined based on studies conducted in collaboration with the World Bank.

The Central Bank Maintains the Key Rate at 13.5%

Economy

Today, January 23, the Board of the Central Bank of the Republic of Uzbekistan held its regular meeting and decided to keep the key interest rate at 13.5% per annum. This decision aims to maintain inflationary expectations and economic stability.

Uzbekistan’s Export of Transport Services to Reach 3 Billion USD

Economy

President of Uzbekistan Shavkat Mirziyoyev has given an order to increase the export of transport services to 3 billion USD. This directive was outlined in the presentation on measures to further develop the transport and logistics system.

Legal Information: Important Numbers for Everyone

Economy

Currently, in Uzbekistan, the minimum wage is 1,155,000 som, the basic calculation amount is 375,000 som, and the minimum pension amount for pensioners is 834,000 som.

COP-29: Uzbekistan to Build 2000 MWh Energy Storage Systems

Economy

Uzbekistan is launching a large-scale project to establish energy storage systems, as announced by the Ministry of Energy. At the COP-29 summit in Baku, the ministry signed an agreement with Saudi Arabia's “ACWA Power” to construct these storage facilities.