| Economy

President of Uzbekistan advocates for expanding cooperation with Japan Bank for International Cooperation

Economy

Continuing the business program of his official visit to Tokyo, President of the Republic of Uzbekistan Shavkat Mirziyoyev received Nobumitsu Hayashi, governor of the Japan Bank for International Cooperation (JBIC).

Cargill to Invest Up to $3 Billion in Uzbekistan’s Energy Security

Economy

Uzbekneftegaz and U.S.-based Cargill have signed a cooperation agreement to attract up to $3 billion in long-term financing, with the possibility of expanding it to $5 billion. The funds will support Uzbekistan’s energy security and modernization of key infrastructure systems.

Central Bank Penalizes Banks and Restricts Two Payment Systems

Economy

The Central Bank of Uzbekistan has imposed fines on several financial institutions and introduced six-month restrictions on the major payment systems Tezpay and National Pay. The decisions follow a series of inspections conducted in October, which uncovered multiple violations in the banking and digital payments sector.

SCO Strengthens Its Position: The “China – Kyrgyzstan – Uzbekistan” Megaproject Reshapes Regional Logistics

Economy

The SCO is stepping into a new phase: nearly one-third of global GDP, the Year of Sustainable Development, and the launch of the strategic “China–Kyrgyzstan–Uzbekistan” railway, expected to accelerate trade flows between China and Europe and create a new source of long-term income for the region.

Tariff Macroeconomics: Can the U.S. Profit from a Trade War?

Economy

The Trump administration’s plan to sharply raise import tariffs may temporarily reduce the U.S. budget deficit, but at the cost of higher inflation and slower growth. Economists warn that the short-term fiscal gain could be outweighed by long-term economic pain.

Uzbekistan Receives $8.2 Billion in Remittances in Six Months

Economy

In the first half of 2025, remittances sent to Uzbekistan from abroad rose by 27% compared to the same period last year, reaching a record $8.2 billion. The majority of this inflow came from labor migrants working in Russia, the United States, and Europe.

Uzbekistan and China increased trade turnover to $5.4 billion

Economy

According to the results of the first five months of 2025, Uzbekistan significantly strengthened trade relations with key partners. According to the State Statistics Committee of the Republic of Uzbekistan, the trade turnover with China reached $5.4 billion, an increase of 8% compared to the same period last year. China continues to maintain its position as Uzbekistan's main trading partner.

US and China: Tariff war postponed

Economy

After months of fierce confrontation, Washington and Beijing announced the "reboot" of trade relations. Mutual tariffs will be reduced several times, but only for 90 days - will the parties manage to find a compromise?

Leapmotor Brand Enters Uzbekistan’s Auto Market with Conditional Approval

Economy

On April 14, following positive results from repeated testing at the laboratory in Piskent, the Technical Regulation Agency and UzTest Center granted conditional approval for the circulation of Leapmotor-branded vehicles in Uzbekistan.

Asia is strengthening its position in the global economy

Economy

The economy of Central Asia may grow to 5% by 2025. Such a forecast is presented in the report "Economic Prospects and Integration in Asia," prepared for the beginning of the Boao Asian Forum in China.

CERR: Uzbekistan’s Business Climate Improved by 2 Points Over the Month

Economy

The Center for Economic Research and Reforms (CERR) has presented the results of its analysis of Uzbekistan’s business climate for February 2025. According to the study, the composite business climate indicator reached 54 points, increasing by 2 points compared to January. This growth indicates continued positive trends in the country’s business environment.

Voting process for the "Open" budget begins

Economy

The voting process for projects that have passed the selection stage in the first season of the 2025 "Participatory Budget" program will begin after 11:59 PM on March 10. This important stage will continue until 11:59 PM on March 20.

The Central Bank Launches the "Inflation Calculator"

Economy

The Central Bank has introduced a new tool on its official website – the "Inflation Calculator". This innovative feature allows citizens to easily calculate how the purchasing power of money has changed over different time periods.

Great Britain helps Uzbekistan accelerate accession to the WTO

Economy

The UK has officially confirmed its full support for Uzbekistan's path to membership in the World Trade Organization (WTO). The parties also agreed to expand technical assistance to accelerate the integration process.

The largest Kuwaiti companies are entering the Uzbek market

Economy

The official visit of the President of Uzbekistan Shavkat Mirziyoyev to Kuwait became a significant step in strengthening economic cooperation. During negotiations with the largest investment groups, agreements were reached on the implementation of large-scale projects in the fields of medicine, industry, logistics, and energy.

Russia's Military Spending Surpasses That of the Entire Europe

Economy

According to the findings of the "Military Balance" study conducted by the British International Institute for Strategic Studies (IISS), Russia's military spending now exceeds the total defense expenditures of all European Union countries and the United Kingdom. This was reported by Financial Times.

EU Pledges to Respond to New US Tariffs

Economy

The European Commission has announced that it will take countermeasures in response to the potential introduction of 25% tariffs on steel and aluminum by the United States. Brussels considers these tariffs illegal and counterproductive, warning that they could escalate the trade conflict between the EU and the US.

Prices Increased in Uzbekistan in January

Economy

Official inflation in Uzbekistan in January stood at 0.72%, higher than in January last year. Potato prices rose by 23.9%, sunflower oil by 2.2%, and meat by 1.1–1.2%. Payments for public kindergartens increased by 21%. This was reported by Gazeta.uz .

The Central Bank of India reduced the rate for the first time in five years

Economy

The Reserve Bank of India (RBI) has lowered its key interest rate for the first time since 2020 to support slowing economic growth. The decision to reduce the REPO rate by 25 basis points to 6.25% was made unanimously against the backdrop of weakening inflation and slow industrial production rates.

EU is in a hurry to start negotiations with the US to avoid a trade war

Economy

The European Union wants to start a dialogue with the Donald Trump administration as soon as possible to prevent the introduction of new duties on European goods. The head of the EU Foreign Trade Office, Marosh Shefchovich, said that Brussels is ready to immediately begin negotiations, as new tariffs may damage key trade and investment ties between the EU and the USA.