Uzbekistan and Mongolia discussed expanding cooperation in mining, agriculture, transport, and industrial production during the Uzbekistan-Mongolia Business Forum held in Tashkent, according to Uzbekistan’s Ministry of Investment, Industry and Trade.
More than 70 companies from the two countries took part in the forum, which brought together government officials, business representatives, and investors seeking to deepen economic ties between Central Asia and Northeast Asia. The delegations were led by Uzbekistan’s Deputy Minister of Investment, Industry and Trade Ilzat Kasimov, Mongolian Ambassador to Uzbekistan Dadanhuu Batbaatar, and Mongolian parliament member Sukhbaatar Erdenebat.
One of the main topics was cooperation in geology and mining. The ministry said Uzbekistan’s Ministry of Geology has already started practical work on developing mineral deposits through its representative office in Ulaanbaatar.
The sides also reviewed growing trade figures. Uzbekistan’s exports to Mongolia increased by 15.6% in the first quarter of 2026, and both governments set a target of raising annual bilateral trade turnover to $100 million.
Industrial cooperation focused heavily on processing Mongolian wool and cashmere in Uzbekistan for export markets. In agriculture, officials discussed plans to increase the number of Mongolian sheep raised in Uzbekistan to one million by 2029, while Uzbek irrigation technologies may also be introduced in Mongolia.
Transport and logistics were another key area of discussion. Participants explored launching freight transportation along the Uzbekistan-Kyrgyzstan-China-Mongolia corridor, which could improve trade routes between Central and East Asia.
The forum included B2B and G2B negotiations involving companies such as Suzur Health Med, Prime Nomadic Meat, and Tsamkhag Construction. According to the ministry, the talks resulted in the formation of a package of investment projects and the creation of a permanent mechanism to monitor joint initiatives.
Economic ties between the two countries have been growing from a relatively small base. Bilateral trade totaled about $14 million in 2023 but nearly doubled year-on-year, driven by what analysts describe as complementary economies. Uzbekistan exports automobiles, textiles, and agricultural products, while Mongolia supplies livestock products, wool, leather, and minerals.
