Uzbekistan Business & Economy - The Times Of Central Asia

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Uzbekistan To Work With Hungary on Nuclear Projects

Hungary will train nuclear engineers from Uzbekistan to work in Uzbek power plants, the country's trade minister Peter Szijjarto announced during his recent visit to Tashkent. "Since we have several decades of experience in the field of nuclear power, we have already started training future Uzbek nuclear power specialists in Hungary," Sijjarto wrote on social media. He noted that if a contract with Rosatom is signed for the construction of a nuclear power plant on the territory of Uzbekistan, it will use the Hungarian technology of cooling on the basis of a "dry" cooling tower. A similar method is already used by the Hungarian company Eniox, which is ready to provide financing to Hungary's Eximbank Hungary in the amount of 130 million euros when participating in the Uzbek nuclear project. Hungary has now started construction of the Russian-designed Paksh-2 NPP of generation "3+" with two power units based on VVER-1200 reactors. Operating since 1982, the Paksh NPP will start to be decommissioned from 2032. "In the current energy crisis, the ability to produce nuclear energy has become extremely valuable. Without nuclear energy, Europe would not have a secure energy supply and affordable energy," Sijjarto emphasized. As the world's fifth-largest exporter of uranium, Uzbekistan is attracting Japanese and Chinese companies that are actively developing uranium in the republic, especially with a focus on black shale. According to data for 2022, Uzbekistan has reserves of 49,200 tons of uranium and about 32,900 tons of uranium in black shale. The deposits are mainly concentrated in sandstones of the Kyzylkum desert. Today, uranium mined in the country is exported abroad by companies such as Itochu (Japan), Cameco (Canada), CNEIC (China) and others.

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Kazakhstan and Uzbekistan Boost Transport Cooperation

On May 11, Ministers of Transport of Kazakhstan and Uzbekistan, Marat Karabaev and Ilkhom Makhkamov signed a Road Map for strategic cooperation in transport and logistics for 2024-2025. During the meeting in Astana, the ministers discussed the development of international transport corridors, rail and road transportation, and joint projects relating to the construction of a transport infrastructure. High on the agenda, were the joint implementation of the construction of the Uzbekistan – Afghanistan – Pakistan railway and the collaborative development of the multimodal transport corridor Belarus – Russia – Kazakhstan – Uzbekistan – Afghanistan – Pakistan. With reference to accelerating transportation through the digitalization of cargo documentation, the parties lauded the introduction of the ‘E-permit’ system of electronic exchange of permit forms between the two countries. The Kazakh side welcomed Uzbekistan’s plans to build the Termez – Mazar-i-Sharif – Kabul - Peshawar railway and confirming his country’s readiness to participate in the project, Marat Karabaev stated, “The implementation of the project will contribute to the development of regional connectivity and trade for the countries of Central Asia, giving them access to the major sea ports of the South Asian region.” The parties also reported that work is now underway on a new railway line between Darbaza and Maktaaral, which will increase the throughput capacity between Kazakhstan and Uzbekistan by a further 10 million tons. The Kazakh minister noted that the volume of export-import transportation between the two countries by road increased by 6% over the past year and amounted to 1.8 million tons.

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New Measures to Boost Agriculture in Uzbekistan

On May 10, Uzbekistan President Shavkat Mirziyoyev was presented with proposed adaptations in agricultural practice and the more efficient use of land in the light of climate change. In Uzbekistan, 3 million hectares of pastural and agricultural land have been now degraded, and approximately 2 million hectares, salinized. According to experts, by 2030, water resources in the region are at risk of diminishing by almost 6 percent as a direct result of climate change. In response, Uzbekistan has developed a national program, for which over $294 million is anticipated in grant funding, to adapt agriculture to climate change and mitigate its impact. The initiative aims to improve the condition of 1 million hectares of agro-ecological landscape and degraded pastures in the Aral Sea region. Protective forest belts will be created in Karakalpakstan, as well as in Khorezm, Bukhara, and Kashkadarya regions and drought-resistant plants such as licorice, rose hips, and sesame, cultivated in areas where water is scarce. A center will be established to analyze and forecast climate change, and agrometeorological stations installed in five regions of the country. In cooperation with Italy, a further center with a nursery will be built for intensive seed cultivation alongside a farm for plants resistant to drought and salinity. Since the need to preserve water is particularly acute in areas surrounding the lower reaches of the river Amu Darya, subsidies are to be allocated for laser-leveling land in Karakalpakstan. Grain and rice producers will be reimbursed up to 100 percent of the fuel costs required to level land using a laser level, in a move to increase yields and reduce water consumption by 15-20 percent. The program also encourages farmers to build more greenhouses. In recent years, the spread of greenhouses has increased 2.6-fold, and the volume of produce grown in such, has more than tripled. The greenhouse sector currently provides 80,000 thousand permanent jobs and a further 70,000 seasonal posts. To increase the efficiency of greenhouse farms, the program proposes to reimburse greenhouse owners 50 percent of the costs of hiring qualified foreign agronomists, as well as up to 20 percent of the costs of coal heaters.

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EU to Allocate €600,000 to Uzbekistan for Green Budgeting

An agreement on financing a new project in support of green development in Uzbekistan was signed on May 6 by representatives of the French Development Agency (AFD), the European Union, and the United Nations Development Program (UNDP). According to the UNDP's press service, the project aims to assist the Uzbek government in financing green development across the country through the effective use of public finance, integrating green priorities into the budgeting process (green budgeting), and introducing innovative financial instruments to attract investments in green projects. The Ministry of Economy and Finance is expected to act as the cabinet-level partner in this project. Under the agreement, grant funds in the amount of €600,000 provided by the EU will be directed by AFD and the UNDP to provide technical assistance to the government under the project "Supporting Green Development Financing in Uzbekistan" for the period 2024-2026. The new project will build on the results and achievements of the previous joint initiative by AFD and the UNDP to introduce budgeting methodologies and practices based on the Sustainable Development Goals (SDGs), which were successfully implemented in 2022-2023. At that time, the Ministry of Economy and Finance was supported in designing and developing methodologies based on international best practices, conducting research and capacity building of national partners in the field of SDGs and green budgeting. Key results of that project included climate budget labeling -- implemented for the first time in Uzbekistan -- and the presentation of its results in the "Budget for Citizens" publication.

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Favorable Water Volumes Forecast for Uzbekistan’s Amu Darya and Syr Darya Rivers

According to the news agency UzA, Uzbekistan's Minister of Water Management Shavkat Hamroyev told a parliamentary hearing that watersheds from the Amu Darya and Syr Darya rivers are forecast as favorable this year. The announcement was made in response to Muqaddas Tirkasheva, a member of the lower house of parliament, who inquired, "water limits are agreed with Central Asian countries every year. Today, when we meet with voters, they often refer to the water shortage. There are concerns about whether the construction of the Qosh Tepa canal will affect the water of Amu Darya. How does this year's forecast volume of water in the Amu Darya, Syr Darya, Zarafshan rivers compare to previous years? What measures are being taken to ensure guaranteed water supply to economic sectors?” Minister Hamroyev continued, "there are agreements among five countries regarding water allocations. Our recent meeting in Shymkent addressed reservoir water levels. Due to this year's precipitation, it's anticipated that water levels in the Amu Darya and Syr Darya rivers will match last year's levels. Projections suggest 85–90% water in the Syr Darya and 90–95% in the Amu Darya compared to historical averages. Our reservoirs currently hold 1.5 billion cubic meters more water than last year."

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Kazakhstan, Kyrgyzstan, and Uzbekistan Favor EEU Economic Integration

On May 8, Russian President Vladimir Putin, President of Belarus Alexander Lukashenko, President of Kazakhstan Kassym-Jomart Tokayev, President of Kyrgyzstan Sadyr Japarov, and Prime Minister of Armenia Nikol Pashinyan convened in Moscow for a meeting of the Supreme Eurasian Economic Council - the governing body of the Eurasian Economic Union (EEU). The event, which marked the tenth anniversary of the establishment of the Russian-led economic integration bloc, was also attended by heads of the EEU observer states, President of Cuba Miguel Diaz-Canel Bermudez and President of Uzbekistan Shavkat Mirziyoyev. In his address, Kazakhstan President Tokayev remarked that in the relatively short period since the Treaty on the Eurasian Economic Union was signed in Astana ten years ago, cooperation between the parties has contributed greatly to the development of Kazakhstan’s economy, and stated: “The correctness of the chosen vector of development of our association has been confirmed by the macroeconomic results of the past decade. Thus, Kazakhstan’s trade turnover with the EEU member countries has increased 1.7-fold and reached $28.5 billion.” Referencing the positive potential for EEU cooperation with rapidly developing countries in Asia, Africa, and the Middle East, he urged EEU member states to join the Ashgabat Agreement on the creation of an International Transport Corridor to engage with markets in the Persian Gulf. The Kazakh president also emphasized the need for improvements to trade links between Europe and Asia, North and South, and warned that unless renewed, the existing infrastructure in the Eurasian region will continue to deteriorate. Citing the modernization and expansion of transport and logistics infrastructure as a key priority, he stated, “In Kazakhstan, we plan to repair 11,000 and build over 5,000 kilometers of new railways by 2030. As part of the Belt and Road initiative, a Kazakh terminal, built in the Chinese city of Xi’an, accounts for up to 40% of all container traffic on the China-Europe route. There are also plans to launch 5 cross-border transport and logistics hubs on Kazakhstan’s borders with Russia, China, Uzbekistan, and Kyrgyzstan, and on the Caspian Sea.” Kyrgyz President Japarov announced that further development of Eurasian economic integration, including the creation of a single market for goods and services without barriers, a common energy market, and freedom of movement of labor resources, remains a priority for Kyrgyzstan. Regarding benefits afforded by Kyrgyzstan’s membership of the EEU, Japarov said that the country’s trade with EEU member states has grown by 76%, from $2.5 billion to $4.4 billion, its exports to EEU countries have tripled from $410 million to $1.23 billion, and its imports increased by more than 50%, from $2 billion to $3 billion. Apart from gold, 80% of Kyrgyzstan’s exports go to the EEU countries. The Kyrgyz president also emphasized the importance of linking the EEU and the Chinese Belt and Road initiative. Despite the current observer status of his country and the EEU, Uzbek President Mirziyoyev reported that over the past three years, trade between Uzbekistan and the EEU has grown by 60 percent. Looking ahead, he announced, “Uzbekistan is interested in expanding practical partnership and...