The meeting, chaired by Uzbekistan’s Minister of Investments, Industry, and Trade Laziz Kudratov and Kuwait's State Minister for Economic Affairs and Investments Noura Sulaiman al Fassam, focused on scaling up trade and investment collaboration.

According to Uzbekistan’s Ministry of Investments, Industry, and Trade (MIIT), the trade turnover between the two countries has increased more than fivefold since 2019, primarily due to exports of food products, chemical goods, and services. Currently, seven companies in Uzbekistan operate with Kuwaiti investments.

Trade expansion

•  Both nations emphasized the importance of increasing the volume and variety of traded goods.
•  Plans are underway to draft a preferential trade agreement to reduce trade barriers and boost e-commerce.

Investment opportunities

•  Kuwait will participate in Uzbekistan’s privatization initiatives and invest in agriculture, tourism, transportation, and green energy sectors.
•  A program for industrial cooperation and an agreement on bilateral investment treaties are being developed to foster business collaboration.

Opportunities in Uzbekistan's free economic zones were highlighted as strategic platforms for joint ventures.

To showcase national products, both sides plan to organize trade exhibitions titled Made in Uzbekistan and Made in Kuwait. These events aim to increase awareness of local goods and promote bilateral trade.

A memorandum of understanding was signed during the meeting to simplify trade procedures between the two nations. This step is expected to further encourage Kuwaiti investments in Uzbekistan.