Tashkent, Uzbekistan (UzDaily.com) — Mongolia-Uzbekistan Business Forum Held in UlaanbaatarOn 23 June, ahead of the state visit of President of the Republic of Uzbekistan Shavkat Mirziyoyev, a Mongolia-Uzbekistan business forum was held in the capital city of Ulaanbaatar.

The event brought together officials from relevant ministries and agencies, representatives of regional administrations and industry associations, as well as more than 300 members of the business communities of both countries.

The forum was organized by the Ministry of Investment, Industry and Trade of Uzbekistan with the support of the Chamber of Commerce and Industry.

The delegations were led by Deputy Prime Minister of Uzbekistan Jamshid Khodjaev and Deputy Prime Minister of Mongolia Sainbuyangiin Amarsaikhan. The forum was moderated by Ilzat Kasimov, Deputy Minister of Investment, Industry and Trade of Uzbekistan, and Solongo Enkhsaikhan, Director of the Department of International Cooperation at the Mongolian National Chamber of Commerce and Industry.

In his opening speech, Jamshid Khodjaev highlighted the large-scale reforms carried out in Uzbekistan in recent years under the country’s policy of openness and modernization. He noted that the country's gross domestic product had doubled in a short period, surpassing the $100 billion mark for the first time, and that economic growth in 2024 had reached 6.5%. The total volume of foreign investment attracted to Uzbekistan exceeded $70 billion.

Khodjaev reaffirmed the Uzbek government’s commitment to providing comprehensive support for foreign investors, including favorable conditions for the implementation of joint initiatives. Promising areas of cooperation identified included trade, industry, agriculture, mining, and other key sectors.

In the trade sector, attention was focused on expanding the range of mutual supplies, including fruit and vegetable products, mineral fertilizers, construction materials, pharmaceuticals, household appliances, textiles, footwear, meat products, leather, and wool. Initiatives to open trade houses and organize specialized exhibitions were also discussed.

Industrial cooperation envisions the establishment of joint ventures for processing leather, wool, and cashmere, the production of electrical equipment, machinery, and construction materials. In agriculture, proposals were made to develop greenhouse farming, introduce drip irrigation technologies, and create storage and processing systems for crops. Joint development of mineral resources also attracted considerable interest.

Speaking at the forum, Deputy Prime Minister of Mongolia Sainbuyangiin Amarsaikhan praised Uzbekistan's efforts to create an attractive investment environment and urged Mongolian businesses to actively engage with Uzbek partners and pursue mutually beneficial projects without unnecessary caution.

The forum concluded with a document exchange ceremony, outlining joint projects to produce wool products, blended fabrics, and other textile and leather goods in Uzbekistan.

As part of the event, the “Made in Uzbekistan” exhibition was also opened, showcasing products from Uzbek manufacturers. Additionally, business meetings were held in B2B and G2B formats, where entrepreneurs discussed practical matters and identified concrete steps to expand cooperation.