Significant Increase in Trade, Investments, and Joint Ventures between Uzbekistan and Japan
Uzbekistan-Japan Business Cooperation Strengthened with New Initiatives
The Minister of Investment, Industry and Trade of Uzbekistan, Laziz Kudratov, recently participated in a meeting of the Uzbek-Japanese Business Club at the Japanese Embassy in Tashkent. The meeting was also attended by representatives from prominent Japanese companies such as Mitsubishi Corporation, Sumitomo Corporation, Toyota Tsusho Corporation, and Yokogawa Electric, among others.
During the meeting, Minister Kudratov highlighted the positive developments in Uzbek-Japanese cooperation. He noted that the trade turnover between Uzbekistan and Japan has tripled since the beginning of the year, while investments in the Uzbek economy have increased by 40 times. The number of joint ventures has also grown significantly, creating new opportunities for collaboration between the two countries.
Over the past seven years, Uzbekistan and Japan have successfully implemented projects worth 2.4 billion USD in sectors such as energy, tourism, chemicals, and furniture. Additionally, through financial and technical partnerships, projects worth over 7 billion USD have been carried out in areas like healthcare, energy, digitalization, and education.
Following the meeting, a list of mutually beneficial project initiatives was approved, with preliminary agreements and contracts already in place. Both sides have identified contractors to ensure the successful implementation of these initiatives, which will receive comprehensive support throughout the construction and operational phases.
The continued cooperation between Uzbekistan and Japan demonstrates a strong commitment to fostering economic development and creating new opportunities for growth in both countries. With the approval of these new project initiatives, the future looks promising for further collaboration and partnership between Uzbekistan and Japan.
