UAE And Uzbekistan Enhance Strategic Partnership Towards A Sustainable Future

President Shavkat Mirziyoyev's visit to the UAE signifies a pivotal moment in enhancing the strategic partnership between Uzbekistan and the UAE. In recent years, their bilateral relations have advanced significantly, especially in clean energy and sustainability projects. High-level meetings and official visits by leaders from both nations have been crucial in fostering this cooperation.

Trade between the UAE and Uzbekistan has seen substantial growth, increasing over 1.5 times in the last three years. Non-oil trade volume surged by 113% from 2018 to 2019, reaching $689 million. The tourism sector also thrived, with over 65,000 Uzbek tourists visiting the UAE in 2023, marking a 30% rise compared to 2022.

Currently, joint investment projects worth over $4 billion are underway. These involve Emirati companies like Masdar, Mubadala, DP World, and the Abu Dhabi Fund for Development. Projects include clean energy initiatives such as a $200 million thermal waste electricity generation project in Bukhara and Navoi regions and a 1,000 MW wind power plant in Uchkuduk district.

The New Uzbekistan Development Strategy aims to align national policies with Sustainable Development Goals (SDGs). This involves reforms in legal frameworks to boost private entrepreneurship and attract investments. K.B. Tursunov highlighted that financing is crucial for achieving SDGs, with World Bank estimates suggesting $2 trillion to $4 trillion annually is needed globally.

A joint research programme on sustainable development goals involves UAE University and Green University in Uzbekistan. This initiative trains students from both countries to tackle environmental challenges and contribute significantly to regional sustainable development.

Uzbekistan needs at least $6 billion annually in additional investments to meet its national SDG targets. The country plans to increase resources allocated in its general budget for SDGs from 69% in 2024 to 72% in 2025.

Economic Cooperation

During the fifth session of the joint economic committee held in Tashkent in May, both nations agreed to enhance cooperation across various sectors. These include new economy sectors like tourism, entrepreneurship, financial technology, innovation, transportation, renewable energy, logistics, agriculture, food security, and infrastructure.

The strategic partnership agreement signed between the UAE and Uzbekistan in April 2019 aimed at government modernisation further solidified their ties. This agreement launched joint initiatives and projects that strengthened their growing relationship.

Diplomatic Relations

The diplomatic relations between these two countries began in 1992 with the opening of the Uzbek Consulate General in Dubai. The Uzbek Embassy was established in Abu Dhabi in 2007 while the UAE opened its Consulate General in Uzbekistan back in 2004.

The collaboration between these nations continues to grow stronger through various initiatives and agreements aimed at mutual benefit and development.

With inputs from WAM