Because the first-ever EU-Central Asia summit began this week in Samarkand, Euronews spoke to Uzbekistan President, Shavkat Mirziyoyev, about how the EU is creating commerce and funding ties with Central Asian states.
“Over the previous seven years, the commerce turnover between Central Asian international locations and the EU has quadrupled, amounting to 54 billion euros,” Mirziyoyev stated.
“We’re happy to see the rising curiosity of European companies within the alternatives for commerce and funding interplay with Uzbekistan and different international locations of the area,” he added.
Strengthening the financial partnership with the EU
Mirziyoyev stated Uzbekistan is constantly making a beneficial enterprise setting, creating market establishments, and enhancing the funding local weather – and famous key steps on this course embrace the introduction of a “one-stop-shop” system for international traders, the liberalisation of the international change market, and the discount of the tax burden on companies.
“Consequently, our nation’s financial cooperation with the European Union has proven optimistic dynamics. In 2024, Uzbekistan’s commerce turnover with EU international locations reached $6.4 billion, growing by 5.2% in comparison with the earlier yr.
“Greater than 1,000 enterprises with European capital now function in Uzbekistan, and the entire quantity of funding initiatives quantities to €30 billion,” he added.
The Uzbekistan President additionally identified that new alternatives for improved funding and commerce relationships between the EU and Central Asia are more likely to be created with the signing of the Enhanced Partnership and Cooperation Settlement (EPCA).
The Central Asian area can also be key to constructing sturdy connectivity hyperlinks between Asia and Europe, with Mirziyoyev emphasising that the area may be “an energetic participant in world financial processes.”
He stated: “On this context, we suggest aligning the EU’s World Gateway technique with key transport initiatives in our area, in addition to collectively creating an Motion Plan to advance the Trans-Caspian Transport Hall.
“This may drive funding progress, infrastructure improvement, and the introduction of modern applied sciences.”
Nevertheless, the Uzbekistan President highlighted that it is important to simplify commerce processes, and supply higher entry for Central Asian items to achieve EU markets, with the intention to improve financial ties.
“We’re prepared to produce the EU market with a better quantity of high-quality, environmentally pleasant merchandise that meet the very best European requirements,” Mirziyoyev stated.
How can Central Asia make sure the EU’s power stability?
Central Asia has huge sources of power sources and vital potential for the event of renewable power. As such, it could possibly go a good distance in serving to Europe enhance its power stability and cut back dependence on international locations like Russia.
When requested about this, Mirziyoyev stated that Central Asia can turn out to be a dependable companion, succesful not solely of guaranteeing secure power provide but additionally of constructing a big contribution to world decarbonisation.
“A serious space of cooperation lies within the ongoing mission, involving Central Asian international locations, to create a Inexperienced Strategic Hall by means of the Caspian and Black Seas to Europe. The implementation of this initiative will lay a stable basis for our mutually useful power connectivity.”
He additionally famous how the creation of a Central Asia-EU Clear Vitality Partnership might assist strengthen power connectivity between the 2 areas, as might the event of a carbon credit score market in Central Asia – to facilitate the manufacturing of sustainable power, whereas additionally attracting extra investments in clear applied sciences.
It comes as Central Asian international locations ramp up their renewable power services.
“Along with the 14 newly commissioned photo voltaic and wind energy crops, we plan to implement greater than 50 comparable initiatives with a complete capability of 24,000 megawatts. Over the subsequent 5 years, we goal to extend the share of renewable power sources to 54%,” Mirziyoyev stated.