Bilateral Investment - The Times Of Central Asia

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Congressman Trent Kelly and Ambassador Furkat Sidikov Drive U.S.-Uzbekistan Trade and Investment Progress

On March 26, 2025, Ambassador Furkat Sidikov hosted a Congressional Breakfast featuring Congressman Trent Kelly (R, Mississippi), Co-Chair and founding member of the U.S.-Uzbekistan Caucus. The event focused on the theme of trade, investment, and U.S.-Uzbekistan relations. Business leaders and policy experts also joined to discuss the evolving economic landscape and the future of U.S.-Uzbekistan relations. Ambassador Sidikov highlighted the presence of over 300 American companies in Uzbekistan and expressed optimism about bilateral trade soon surpassing $1 billion annually. The Ambassador emphasized the strengthening of multifaceted partnership with the U.S. over economic and security partnerships, alongside ongoing reforms in democracy and human rights. Congressman Kelly praised the strong partnership between the United States and Uzbekistan, highlighting the country’s reforms and its openness to U.S. business and trade. He expressed deep admiration for the Uzbek people and their government, emphasizing the growing ties fostered through the State Partnership Program with Mississippi. Congressman Kelly voiced strong support for removing the Jackson-Vanik Amendment (a Cold War-era provision that restricts trade with certain countries), stating that the time was right for such action. He noted ongoing collaboration with congressional and senatorial colleagues to advance this effort. Referring to Uzbekistan Day on the Hill as a growing tradition, he encouraged stronger connections between the two nations, underscoring Uzbekistan's vibrant culture, abundant resources, and welcoming spirit. [caption id="attachment_30169" align="aligncenter" width="1280"] Ambassador Furkat Sidikov, Congressman Trent Kelly (R, Mississippi), and Congresswoman Carol Miller (R, West Virginia) display the Uzbekistan Normalized Trade Act, H.R. 2329[/caption] The Uzbekistan Caucus was established in 2018 to strengthen bilateral relations between the United States and Uzbekistan by encouraging dialogue on issues such as trade, security, governance, and cultural exchange. While bilateral caucuses are often seen as ceremonial with limited tangible outcomes, the Uzbekistan Caucus has proven to be an exception by driving meaningful progress in U.S.-Uzbekistan relations. This success reflects the contributions of both officials. Ambassador Sidikov has served as Uzbekistan's ambassador to the United States since 2023, playing a key role in strengthening bilateral ties. During his tenure, he facilitated the signing of the Customs Mutual Assistance Agreement (CMAA), streamlining trade and enhancing border security, and supported Uzbekistan’s reforms to align with World Trade Organization (WTO) standards, fostering a more open and competitive economic environment. These efforts have not only expanded market access, such as enabling U.S. meat and poultry exports to Uzbekistan, but also fostered deeper economic and strategic ties between the two nations. Congressman Kelly's 36 years of military service, including his role as a brigadier general, two Bronze Star Medals, and deployments to Iraq, have been instrumental in advancing collaboration with Uzbekistan through the State Partnership Program. His efforts have supported joint training, disaster preparedness, and modernization initiatives, providing valuable U.S. expertise and strengthening defense ties between the two nations. Uzbekistan ranks 58th in the Global Firepower Index, which ranks countries by military strength.

Middle Corridor Bilateral Relations Bilateral Cooperation UAE Bilateral Investment

Kazakhstan and the UAE Are Building a Geoeconomic Powerhouse Spanning Asia and the Gulf

Kazakhstan President Kassym-Jomart Tokayev’s recent mid-January visit to the United Arab Emirates (UAE), to attend the Abu Dhabi Sustainability Week (ADSW) Summit, underscores the strategic importance both nations place on their bilateral ties. ADSW is a prominent global platform dedicated to accelerating sustainable development and promoting international cooperation on the global environmental agenda. The 2025 summit — with the theme, “Nexus of Next: Supercharging Sustainable Progress” — was designed specifically to explore advanced technologies such as artificial intelligence, renewable energy, and innovative sustainability solutions. As leader of the most dynamic of the Central Asian economies, President Tokayev’s presence signaled his country’s ambition to play a more prominent role in addressing environmental challenges at an international level. In his keynote speech, Tokayev addressed environmental issues that are particularly critical for Kazakhstan, including desertification, biodiversity loss, water scarcity, and food security. He emphasized his country’s multifaceted approach to these challenges, which includes digital technologies, large-scale infrastructure projects, and the development of nuclear energy as a low-carbon solution. Kazakhstan has recently launched initiatives, such as expanding solar and wind farms and implementing advanced irrigation systems to combat desertification. Tokayev also highlighted Kazakhstan’s commitment to meeting its renewable energy targets, aiming to generate 15% of its electricity from renewables by 2030, in partnership with global leaders in green technology. Overall, the ADSW Summit provided a platform for Kazakhstan to engage with international partners, share its vision for sustainable development, and explore collaborative opportunities to address global environmental challenges. Kazakhstan’s efforts include the development of the Mohammed bin Rashid Al Maktoum Solar Park, which will have a capacity of 5,000 megawatts (MW) by 2030, and participation in the Space-D programme, which enhances operational performance through nano-satellites. In particular, President Tokayev met with UAE President Sheikh Mohamed bin Zayed Al Nahyan to discuss bilateral relations. The two leaders agreed to focus on a specific economic agenda — focused on trade, investment, and sustainable development — to create positive bilateral trade dynamics. Their Joint Declaration on Strategic Investment Projects in these fields was also highlighted. Kazakhstan and the UAE have developed a dynamic and multifaceted partnership over the past three decades. Since establishing diplomatic relations in 1993, the UAE has become Kazakhstan’s leading strategic partner in the Arab world. Early cooperation focused on trade and investment but has since expanded to include sectors such as petrochemicals, energy, transport, logistics, agriculture, and aerospace. Key milestones include the establishment of direct flight routes between the two countries and the signing of long-term investment agreements in the mid-2000s. Tokayev noted that direct investment from the UAE into Kazakhstan more than doubled from 2023 to 2024, placing the country among the top ten largest foreign investors in Kazakhstan. A focal point of their discussion was the goal of increasing bilateral trade turnover to $1 billion. In this context, the Dubai International Chamber has established a representative office in Kazakhstan to boost trade and investment opportunities further still. For several years, the UAE has been expanding its cooperation with the Greater Caspian...

Bilateral Investment USA Bilateral Cooperation International Cooperation WTO

U.S. Think Tank Calls on American Politicians to Make Uzbekistan a Valued Partner

Daniel Runde, a senior vice-president at the Washington, D.C.-based think tank the Center for Strategic and International Studies (CSIS), has called on American politicians to strengthen the U.S.'s relations with Uzbekistan. He believes that Uzbekistan, a key partner for the United States in Central Asia, deserves more attention from the West. With Russia’s invasion of Ukraine and growing competition with China, the U.S. could strengthen ties with Uzbekistan to promote regional stability and counterbalance Russian and Chinese influence. “Uzbekistan seeks more engagement with the United States through bilateral efforts and the “C5+1” (the five Central Asian countries plus the United States) diplomatic platform. We might never become Uzbekistan’s best friend. However, we could become better and more reliable friends. Uzbekistan has five bordering countries, and at one point in the early 2000s, it considered the United States its ‘sixth neighbor,’” Runde mentioned. “When the U.S. government was active in Afghanistan, we supported Uzbekistan’s efforts to develop its economy and invest in its security. With our disengagement from Afghanistan, we need to look at Uzbekistan as the valued partner that it could be and re-engage. We should work towards the day that Uzbekistan considers the United States its ‘sixth neighbor’ again.” According to Runde, there are several goals that the US could assist Uzbekistan in achieving. While some are significantly more difficult to handle, others are relatively straightforward: 1) Uzbekistan wants U.S. support to join the World Trade Organization (WTO), a goal it has pursued for almost 30 years. The U.S. has provided some technical help, and during a recent visit, U.S. Trade Representative Katherine Tai reaffirmed America’s support. For further progress, Uzbekistan could benefit from greater involvement from U.S. institutions like the Development Finance Corporation (DFC), Export-Import Bank (EXIM), and U.S. Trade and Development Agency (USTDA) to strengthen trade ties with the U.S. 2) Uzbekistan and other Central Asian countries want the U.S. to repeal the Jackson-Vanik Amendment, which restricts regular trade with them. This amendment, initially targeting Soviet-era policies, is now outdated and seen as disrespectful, as it treats these nations as if they are still part of the Soviet Union. Repealing it would show that the U.S. respects their independence and is ready to treat them as equal partners. “Jackson-Vanik now restricts normal trade relations with several existing and former nonmarket economies, including Uzbekistan. For countries like Uzbekistan, Jackson-Vanik is a sign of disrespect that encourages them to take their business to China, Russia, Turkey, or the Gulf,” Runde argues. 3) He notes that many developing countries, including Uzbekistan, would like to see Congress successfully renew the Generalized System of Preferences (GSP), a trade preference program. “The GSP benefited many developing countries by providing duty-free treatment for their products. With the absence of this program, trade volumes between Uzbekistan and the United States have not been as impressive as they might have been. Compare U.S. trade with Uzbekistan and Uzbekistan’s trade with China, Russia, or the EU. The lapse of the U.S. GSP has had a real impact on our influence...

Digital Technologies Foreign Cooperation Bilateral Investment

Kazakhstan Promotes Investment Opportunities in South Korea

On June 4, Seoul hosted a seminar organized by Caspian Group Korea and several Korean organizations, on the development of bilateral economic cooperation and investment opportunities offered by Kazakhstan. Endorsed by Kazakhstan’s Foreign Ministry as a significant platform for promoting investment opportunities to the Korean business community, the seminar was attended by deputies of the National Assembly of the Republic of Korea, Kim Song Won and Kim Seung Soo, and Korean companies including Samsung, Hyundai, KPMG Korea, KT, and CJ. In his address, Deputy of the National Assembly Kim Song Won referred to the important relationship between Kazakhstan and Korea, and emphasized the need to create synergy by combining advanced Korean technologies and rich Kazakh natural resources. Ambassador of Kazakhstan to the Republic of Korea, Nurgali Arystanov, likewise welcomed strengthening cooperation between the two countries and particularly, the input of Korea’s experience in Kazakhstan's industrial development, smart city technologies, healthcare systems, as well as agriculture and smart farms. Focus then turned to the new Alatau City project, an ambitious centre in Kazakhstan which designed to attract for Korean advanced technologies, will play a significant role in strengthening bilateral investment cooperation and the development of sustainable urban infrastructure.

Bilateral Investment Korea Kazakhstan

Kazakhstan Seeks Investment from South Korea

Over the past ten years, South Korea's investments in Kazakhstan's economy have exceeded $6.8 billion and several joint Kazakh-Korean projects with investments of about $1 billion are currently under implementation. The potential to increase and diversify bilateral trade and expand investment cooperation was the focus of a meeting on 16 April between Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, Yerzhan Yelekeyev, Chairman of the Management Board of National Company Kazakh Invest, and Joe Tae-Ik, Ambassador of the Republic of Korea to Kazakhstan. During the meeting, Ospankulov spoke of the large number of Korean companies working in Kazakhstan and emphasizing that developing economic and investment relations with South Korea is a priority, pledged comprehensive support to companies implementing projects in the country. Kazakh Invest’s Yelekeyev gave thanks to Korean car brands for their input into the Kazakhstan’s successful development of the domestic automotive industry and reported on the high potential for strengthening partnerships in tourism, energy, and petrochemistry. Looking ahead, he stated, “South Korean entrepreneurs work in an export-oriented economy and create competitive, innovative products. We want to adopt this expertise and technology in developing priority sectors in Kazakhstan. In this regard, we are ready to provide a full range of support services, including an existing package of preferences." In return, Ambassador Joe Tae-Ik confirmed his intention to assist in implementing new joint investment projects.

Bilateral Investment Qatar

President Rahmon Invites Qatari Business to Invest in Tajikistan

During his state visit to Qatar on January 22nd, the president of Tajikistan, Emomali Rahmon, held negotiations in Doha with the emir of the state of Qatar, Sheikh Tamim bin Hamad Al Thani. During the meeting, it was proposed to launch joint transport-transit projects in order to expand the logistics networks between the two countries. This will facilitate the transportation of cargo and passengers, as well as transit to other countries, Rahmon’s press service reported. Also on January 22nd, Rahmon met with Qatar’s business community, expressing his views on a broad scope of cooperation opportunities with leading Qatari companies in the fields of agriculture, transport infrastructure, logistics, civil aviation, and tourism. The president emphasized that the government of Tajikistan is ready to support the proposals of investors to establish cooperation in these priority areas. In his speech to the Qatari business community, Rahmon spoke about the current economic situation in Tajikistan and the macroeconomic stability ensured in the country. The president said that Tajikistan’s GDP growth rate in the last 20 years has been more than 7% on average, and in 2023 reached 8.3%, while inflation was 3.8%. “Today, more than 720 public investment projects worth more than USD 13.8 billion are under implementation in our country.” Rahmon said that attracting investments is a priority for the Tajik government, and in this context, vast opportunities for investment have been created, and tax and customs incentives and guarantees are widely applied. According to Rahmon, Tajikistan’s aluminum production and lithium resources provide for favorable conditions for the production of electric vehicles. “That’s the two main types of materials for the production of electric cars available in our country,” he said. The president pointed out that industrial production can be another future direction of cooperation, adding that projects in the light industry, food, metallurgy, machine building, chemistry, production of construction materials and pharmaceuticals are a priority for Tajikistan. Rahmon also mentioned that Tajikistan is rich in mineral resources, with some 800 deposits of minerals, rare and precious metals, including copper, silver, gold, lead, lithium, antimony, nickel, tungsten, vanadium and other rare minerals having been discovered and partially prepared for mining in Tajikistan. The president added that the reserves of food salt in Tajikistan amount to more than 72 billion tons, which is sufficient to meet the consumption needs of all inhabitants of the planet for this product for more than 300 years.