• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10456 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10456 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10456 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10456 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10456 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10456 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10456 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10456 0.19%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%

From GDP to AI: EAEU Leaders Review Integration Milestones in St. Petersburg

The leaders of the Eurasian Economic Union (EAEU) gathered on December 21 at the Yeltsin Presidential Library in St. Petersburg, Russia, to assess the bloc’s progress and outline future integration priorities. The summit was attended by the leaders of EAEU member states, President of Russia, Vladimir Putin, President of Belarus, Aleksandr Lukashenko, Prime Minister of Armenia, Nikol Pashinyan, President of Kazakhstan, Kassym-Jomart Tokayev, President of Kyrgyzstan, Sadyr Zhaparov, and Chairman of the Board of the Eurasian Economic Commission, Bakytzhan Sagintayev. In an expanded format, representatives of Uzbekistan, Indonesia, Iran, and Cuba also participated.

The meeting took place against the backdrop of continued global economic fragmentation, as the EAEU looks to position itself as a stable integration platform within an increasingly multipolar economic order.

Image: Akorda

Opening the meeting, Vladimir Putin proposed a year-end review and highlighted key decisions aimed at deepening cooperation. He stated that the EAEU has solidified its position as an independent and self-sufficient center within the evolving multipolar world. Putin pointed to rising combined GDP figures and noted that EAEU membership has contributed to economic stability and improved living standards across member states. These assessments framed the EAEU not only as a regional trade bloc but as a long-term economic center adapting to shifting global alignments.

Image: Akorda

Putin also cited progress in building the union’s payment infrastructure, removing trade barriers, and enhancing transport connectivity. Among individual economies, Kyrgyzstan stood out with a GDP growth rate of around 10%. Much of the focus, however, remained on translating macroeconomic gains into deeper market integration across energy, finance, and logistics.

Belarusian President Alexander Lukashenko, addressing the summit as chair of the EAEU, called for renewed approaches to economic engagement with third countries over the next five years. He endorsed deeper ties with what he termed the “global majority,” while acknowledging existing challenges, such as delays in establishing unified energy markets and hesitancy among member states to form a common financial market. Nonetheless, he described the Union State of Russia and Belarus as the “locomotive of integration” in the post-Soviet region. The discussion highlighted a recurring tension for the bloc: expanding external partnerships while still completing core internal market harmonization.

Image: Akorda

Kazakh President Kassym-Jomart Tokayev emphasized the EAEU’s milestone year as it entered its second decade. He projected a 2% increase in the union’s combined GDP in 2025 and noted that intra-union direct investment had surpassed $20 billion. Kazakhstan alone saw a nearly sevenfold increase in EAEU-related investment from $600 million in 2015 to $4 billion in 2024.

Image: Akorda

Tokayev also proposed the systematic integration of artificial intelligence technologies into EAEU operations, from trade forecasting to customs duties assessment. He highlighted the union’s potential as a global transport and logistics hub and advocated for the swift implementation of the Caspian Sea shipping agreement.

Uzbek President Shavkat Mirziyoyev noted that Uzbekistan’s trade with EAEU countries had nearly doubled to $20 billion over its four years of observer status. He called for the phased removal of trade barriers and suggested creating a joint Uzbekistan-EAEU coordination group to address tariff and non-tariff restrictions.

Uzbekistan’s engagement, alongside other observer states and partners, underscored the EAEU’s effort to broaden its reach beyond its original framework. Officials emphasized practical cooperation as a pathway toward gradual market alignment.

Image: Akorda

Kyrgyz President Sadyr Japarov reported that intra-EAEU trade had approached $100 billion in 2025, describing this as a reflection of “trust and genuine interest” among member states. He highlighted a GDP growth rate of 10.2% for Kyrgyzstan over the first eleven months of the year and reaffirmed the country’s focus on food and energy security.

Image: Akorda

The leaders agreed that the pace at which agreed measures are implemented will be critical to maintaining momentum in the Union’s second decade. As the EAEU moves from agenda-setting to execution, the credibility of the bloc will increasingly be judged not by the scale of its ambitions, but by the speed and consistency with which agreed mechanisms are translated into functioning common markets. Kazakhstan will assume the EAEU chairmanship in 2026. The next summit of the Supreme Eurasian Economic Council is scheduled for May 28-29 in Astana.

Kazakh Authorities Open Investigation After Temir Mayor Found Dead

The authorities in Kazakhstan’s Aktobe Region have opened a pre-trial investigation after the mayor (akim) of Temir city, Erkin Dalmagambetov, was found dead on December 20. The Aktobe regional police department confirmed the death and said the circumstances are being established. “Police have opened a pre-trial investigation into the suicide. The circumstances of the incident are being investigated,” according to an official statement.

Local officials also confirmed the death. Almas Zhaksylykov, the akim of Temir District, told reporters that Dalmagambetov was found at home on the evening of December 20 and that authorities were conducting checks. Several Kazakh outlets reported that Dalmagambetov was 46 and left six children.

Dalmagambetov led Temir, a small city in western Kazakhstan, for less than two years. He was appointed on June 3, 2024, after local elections held the day before, according to a Temir District akimat announcement published on the government’s portal.

Temir is the administrative center of the Temir District in the Aktobe Region. The area sits in western Kazakhstan, a region known for energy, mining, and transport routes. The Aktobe Region has a population of about 928,000, based on recent official estimates.

Kazakhstan’s akims serve as local executive leaders, with responsibilities that range from municipal services and budgeting to implementing national programs at a local level. In smaller cities such as Temir, the mayor’s office is often closely tied to day-to-day issues such as utilities, roads, schools, and public order.

The case has drawn wide attention online. The authorities have not announced funeral arrangements or any interim leadership decision for Temir city. The Temir District akimat has not published additional details beyond confirming the death, with the police saying they will not disclose more information during the investigation.

No Disneyland Planned as Uzbekistan and Disney Hold Exploratory Talks

Uzbekistan has held early-stage discussions with The Walt Disney Company on possible cooperation in children’s media and creative industries, but no agreement has been announced to build a Disneyland or theme park in the country.

The talks took place during a meeting between Saida Mirziyoyeva, the Uzbek president’s daughter and head of the Presidential Administration, and a Disney vice president responsible for international partnerships. According to an account cited by Uzbek media, the sides discussed potential cooperation in producing Uzbek-language children’s content, training specialists in animation and filmmaking, and developing a creative hub focused on film and media production.

Image: Saida Mirziyoyeva, Telegram

Public attention intensified after Zamin.uz published an English-language article titled “Disneyland Park Planned for Construction in Uzbekistan.” The article itself, however, stated that the idea was under discussion rather than approved, and did not cite any signed agreements, confirmed investment figures, or construction timelines.

Subsequent reporting by other Uzbek outlets aligned more closely with the official summaries, with Gazeta.uz reporting that the meeting focused on content production, professional training, and the possible opening of a Disney regional office serving Central Asia, without reference to a theme park project. UzDaily similarly reported discussions centered on children’s television programming and creative education initiatives, noting that the talks were exploratory in nature.

Neither Disney nor the Uzbek authorities have released statements confirming plans to build a theme park. No land allocation, development partner, regulatory approval, or financing structure has been announced. Disney has not included Uzbekistan in its list of active or planned theme park developments.

Disney theme park projects are typically announced only after extended negotiations and formal agreements. When the company confirmed a new theme park resort project in Abu Dhabi in 2025, it disclosed the local development partner, project framework, and governance structure at the time of announcement.

Uzbekistan has made the creative industries and tourism development policy priorities in recent years, seeking partnerships with major international companies to expand film production, animation, and cultural exports. Officials say discussions with global media firms are part of that broader strategy.

For now, the talks with Disney remain preliminary. Until formal agreements are announced by both sides, officials have indicated that references to a Disneyland under construction in Uzbekistan do not reflect the current status of discussions.

Mirziyoyev Begins Japan Visit With Central Asia Leaders’ Reception in Tokyo

President Shavkat Mirziyoyev of Uzbekistan began his visit to Japan on Thursday by attending an official reception hosted by Japan’s Prime Minister Sanae Takaichi at the Akasaka Palace in Tokyo. The event marked the opening of a series of engagements bringing together the leaders of Central Asia and Japan, with a focus on strengthening regional cooperation.

The reception brought together the presidents of all five Central Asian states. Alongside Mirziyoyev were President Kassym-Jomart Tokayev of Kazakhstan, President Sadyr Japarov of Kyrgyzstan, President Emomali Rahmon of Tajikistan, and President Serdar Berdimuhamedov of Turkmenistan. The gathering underscored Japan’s effort to engage the region as a group, rather than solely through bilateral ties.

Mirziyoyev’s presence at the Akasaka Palace, a venue reserved for state-level diplomacy, highlighted Uzbekistan’s growing role in Central Asia and its expanding foreign policy outreach beyond the immediate region. In recent years, Tashkent has sought to deepen ties with Asian partners, including Japan, in areas ranging from infrastructure and energy to education and technology.

According to the visit programme, Mirziyoyev will hold high-level talks with Japanese government officials on December 20. Those discussions are expected to focus on trade and investment, technological cooperation, and sustainable development, including green energy and climate resilience. Japan has been a long-standing development partner for Uzbekistan, providing loans, grants, and technical assistance through agencies such as the Japan International Cooperation Agency.

The visit will feature the inaugural leaders-level “Central Asia + Japan” Dialogue Summit, bringing all six sides together in a multilateral format. The summit is intended to build on earlier dialogue mechanisms and explore joint approaches to economic connectivity, regional stability, and long-term growth.

For Mirziyoyev, the Tokyo meetings offer an opportunity to reinforce Uzbekistan’s reform agenda on an international stage and to position the country as an active participant in shaping Central Asia’s collective engagement with major partners such as Japan.

UK Adds Uzbekistan-Based Companies and Tashkent Businessman to Russia Sanctions List

Britain has expanded its Russia sanctions regime to include four companies based in Uzbekistan and one Tashkent-born businessman, according to official documents published on 18 December 2025. The measures form part of a wider update that added 24 new individuals and entities to the UK’s consolidated sanctions list under the Russia (Sanctions) (EU Exit) Regulations 2019.

The update was set out in a Financial Sanctions Notice issued by HM Treasury and an accompanying Foreign Office policy paper, “List of Russia sanctions targets, 18 December 2025.” The documents confirm that all newly designated names are now subject to an asset freeze and associated financial restrictions in the UK.

The four Uzbekistan-linked companies named in the notice are Fargona Kimyo Zavodi LLC, also listed under the English alias Fergana Chemical Plant; Gelion Business Trade MCHJ, registered in Tashkent; Raw Materials Cellulose MCHJ, based in the Jizzakh region; and LLC JV Chemistry International, located in the Navoi region. Each company is subject to an asset freeze, requiring that any funds or economic resources they own or control in the UK be frozen and that UK persons do not make funds or resources available to them without a licence.

The Treasury notice also applies restrictions on trust services. Under UK sanctions law, this restricts UK persons from providing trust services to or for the benefit of designated persons unless an exemption applies or a licence is granted. Compliance guidance is published by the Office of Financial Sanctions Implementation and linked through the British government’s Sanctions List.

The documents do not provide detailed descriptions of the companies’ commercial activities, instead using standard statutory wording. In each case, the Secretary of State notes that there are reasonable grounds to suspect the entity “is or has been involved in destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine,” including by making available goods or technologies that could contribute to those outcomes.

The sanctions update also includes Rustam Muminov, born in Tashkent in 1953. The Treasury notice lists his nationalities as Uzbek, Israeli, and Russian. Muminov is subject to an asset freeze and trust services restrictions, with the reason stated being that the British authorities have reasonable grounds to suspect he has been involved in destabilizing Ukraine by providing financial services or by making available funds, economic resources, goods, or technology.

The Foreign Office policy paper groups the new designations with others added on the same date, which include entities linked to Russia’s energy sector, financial circumvention, and the military-industrial complex. The government says the measures are intended to limit access to financial services and resources that could support Russia’s actions against Ukraine.

EDB Forecasts Strong Economic Growth in 2026 for Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan

On December 18, the Eurasian Development Bank (EDB) published its Macroeconomic Outlook for 2026-2028, reviewing recent economic developments and offering projections for its seven member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan.

According to the report, aggregate GDP growth across the EDB region is forecast to reach 2.3% in 2026. Kyrgyzstan (9.3%), Tajikistan (8.1%), Uzbekistan (6.8%), and Kazakhstan (5.5%) are expected to remain the region’s fastest-growing economies.

After two years of rapid expansion, the region’s GDP growth is set to moderate to 1.9% in 2025, down from 4.5% in 2024, mainly due to a slowdown in Russia’s economy.

Although lower oil prices are expected to reduce export revenues for energy exporters such as Kazakhstan and Russia, the impact on overall growth will be limited. Meanwhile, net oil importers, including Armenia, Belarus, Kyrgyzstan, Tajikistan, and Uzbekistan, will benefit from improved terms of trade and reduced inflationary pressure. High global gold prices will support foreign exchange earnings for key regional exporters, including Kyrgyzstan, Tajikistan, and Uzbekistan.

The report also notes a gradual decline in the U.S. dollar’s share in central bank reserves across the region, though its role in international settlements remains stable.

Kazakhstan

Kazakhstan’s economy is projected to grow by 5.5% in 2026, supported by the implementation of the National Infrastructure Plan and the state program “Order for Investment,” which are expected to cushion the effects of lower oil prices. Growth in non-commodity exports will also play a stabilizing role. Inflation is forecast to decline to 9.7% by the end of 2026, after peaking early in the year due to a value-added tax (VAT) increase. The average tenge exchange rate is expected to be KZT 535 per U.S. dollar, underpinned by a high base interest rate and rising export revenues.

Kyrgyzstan

Kyrgyzstan is forecast to lead the region in GDP growth at 9.3% in 2026, driven by higher investment in transport, energy, water infrastructure, and housing construction. Inflation is expected to ease to 8.3%, although further declines will be constrained by higher tariffs and excise taxes. The average exchange rate is projected at KGS 89.2 per U.S. dollar, supported by robust remittance inflows and high global gold prices, gold being the country’s main export commodity.

Tajikistan

Tajikistan is projected to maintain high GDP growth of 8.1% in 2026, fueled by capacity expansion in the energy and manufacturing sectors, along with rising prices for gold and non-ferrous metals. Inflation is expected to reach 4.5% by year-end. The somoni is expected to remain stable, with an average exchange rate of TJS 9.8 per U.S. dollar, supported by growth in exports and remittances.

Uzbekistan

Uzbekistan’s economy is forecast to expand by 6.8% in 2026, sustained by strong investment activity and favorable gold prices. Inflation is projected to decline to 6.7%, helped by tight monetary policy and a stable exchange rate. The average soum exchange rate is expected to be UZS 12,800 per U.S. dollar, supported by high remittances and increased metal exports.