Ashraf AboArafe
The heart of Europe — Uzbekistan and the European Union will sign the Enhanced Partnership and Cooperation Agreement, a landmark document marking a new era in their shared history. For Tashkent, this is not merely a diplomatic milestone but a decisive step toward deeper economic integration, expanded trade and investment ties, and a stronger voice on the global stage.
This signing is the culmination of years of systematic dialogue and mutual trust. Uzbekistan and the EU have transcended traditional models of cooperation, embracing a forward-looking partnership — flexible, technological, and anchored in the principles of sustainable development.
Today, the European Union stands as Uzbekistan’s third-largest trading partner, following China and Russia. In 2024, EU countries accounted for 9.7% of Uzbekistan’s foreign trade, including 6.3% of exports and 12% of imports. According to the Center for Economic Research and Reforms of Uzbekistan (CERR), between 2017 and 2024, bilateral trade turnover more than doubled — from 2.6 billion USD to 6.4 billion USD. Exports increased 3.6 times to 1.7 billion USD, while imports grew 2.2 times to 4.7 billion USD.
Over the same period, the EU’s share in Uzbekistan’s export structure rose from 3.8% to 6.3%, signaling the country’s growing competitiveness in European markets. Meanwhile, the share of imports from the EU declined from 15.5% to 12%, reflecting Uzbekistan’s diversification of trade ties — particularly its strengthening economic corridors with Asia.
In 2024 alone, bilateral trade grew by 5.2%, driven by a 26.9% rise in exports, while imports remained steady. Chemical products formed the backbone of Uzbekistan’s exports to Europe, accounting for 54% of the total — about 877.4 million USD. Germany, France, Lithuania, Italy, the Czech Republic, and Poland are among Uzbekistan’s most significant European partners, with Germany and France together representing over one-third of trade turnover. By the end of the first nine months of 2025, trade had already reached 5 billion USD, underscoring the steady expansion of this strategic relationship.
Investment cooperation has followed a similarly dynamic trajectory. In 2024, foreign direct investment and loans from EU countries rose by 77%, reaching 4.1 billion USD, compared with 2.3 billion USD in 2023. From 2017 to 2024, Uzbekistan attracted 12.4 billion USD in investments and loans from Europe — 18 times more than in 2017. Major investors include Germany (1.4 billion USD), the Netherlands (1.1 billion USD), Cyprus (858.9 million USD), and the Czech Republic, Italy, and Sweden.
Currently, around 1,000 enterprises with EU capital operate in Uzbekistan, more than 200 of which involve German participation — a testament to Europe’s confidence in Uzbekistan’s reform-driven economy.
The Enhanced Partnership and Cooperation Agreement now opens a new chapter — one of modern industries, green technologies, and mutual innovation. For Uzbekistan, it promises accelerated industrial modernization and strengthened access for national businesses to European markets. For the European Union, it offers a bridge into Central Asia’s emerging economies and access to strategic resources essential for the green transition.
Beyond trade and investment, this agreement embodies a new philosophy of partnership — built on mutual benefit, innovation, and shared responsibility for sustainable progress. It is not only a pact between governments but a renewed Silk Road — weaving together Europe’s experience and Uzbekistan’s vision into a common fabric of prosperity.
