Uzbekistan, Czech Republic Sign €2 Billion Deals

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan and the Czech Republic have signed more than 20 agreements worth a total of €2 billion during a recent business forum, according to Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov.

The minister said in an interview with the O‘zbekiston 24 television channel that the agreements cover a wide range of key sectors, including chemicals, geology, energy, metallurgy, pharmaceuticals, and the food industry.

In the chemical sector, Uzbekistan reached agreements with several major Czech companies, including Spolchemie, to launch production of new types of fertilizers. Czech businesses have also shown interest in cooperation in geology and in supplying equipment for the Navoi Mining and Metallurgical Company.

Kudratov noted that contracts and agreements worth €300 million have already been signed in this direction. These involve not only equipment and technology supplies but also the localization of certain types of machinery production in Uzbekistan.

The minister also announced the development of a program aimed at increasing bilateral trade turnover to $1 billion.

According to him, trade growth is expected to be driven by expanded industrial cooperation and the implementation of joint investment projects.

The two sides are currently working on projects worth more than €300 million in chemicals, mining, geology, energy, metallurgy, and pharmaceuticals. Kudratov emphasized that Czech partners are offering not only technological solutions but also comprehensive financing mechanisms.

Special attention was given to financial support for joint initiatives. Uzbekistan’s Ministry of Investment, Industry and Trade reached agreements with Czech export bank Eximbank and the Czech export guarantee and insurance agency EGAP. Under the agreement, the Czech side intends to provide €600 million in the first stage of cooperation.

These funds are expected to be directed toward the supply of Czech technologies and know-how to enhance Uzbekistan’s industrial capacity and modernize production facilities.

The minister expressed confidence that cooperation between Uzbekistan and the Czech Republic will show positive momentum this year both in trade and investment.