The European Economy Days kicked off in Tashkent today. The maiden high-level forum brought together more than 300 delegates, business leaders, as well as government and international organizations to discuss the most pressing issues of economic cooperation.

The adviser to the President of Uzbekistan on economic development, Ravshan Gulyamov read out Shavkat Mirziyoyev's address to the forum participants.

In it, the Uzbek leader expressed confidence that the conference will make a great contribution to strengthening trade, economic, investment and cooperation relations between Uzbekistan and Europe and will serve to unlock the potential for cooperation between the parties.

Shavkat Mirziyoyev noted that in recent years, the trade turnover between Uzbekistan and the European Union has doubled, and the European market has become one of the largest for Uzbek products.

The EU system of trade preferences GSP+ boosts the export potential of Uzbekistan and allows local businesses to sell products on the European market without customs duties, he added.

Today, almost 1,000 enterprises with investment from European countries are operating in Uzbekistan.

“You can be sure that we will create the most favorable conditions for all companies to implement joint projects in the fields of electrical engineering, mechanical engineering, chemistry, mining and metallurgy, energy, agriculture, textile production, tourism and others,” the president’s address says.

The head of state called on European companies to take part in projects for the processing of critical raw materials and the implementation of promising infrastructure projects within the Trans-Caspian Transport Corridor. It is also called the Middle Corridor, which connects Asian countries through the Caspian Sea with European countries and runs, in particular, through China, Kazakhstan, Azerbaijan, Georgia and Turkey. This route is an alternative to land routes passing through the territory of Russia, Belarus and Poland.

The delegates were also welcomed by the President of the European Commission Ursula von der Leyen in a video message.

She noted that today Uzbekistan wants to open up to the world again and regain "a central position not only in Asia, but also in global trade routes and investment flows."

"And Europe wants to be your partner in this new chapter of Uzbekistan's thousand-year history. In recent years, Uzbekistan and Europe have become much closer to each other than ever before... Since 2021, we have opened the European market to Uzbek goods. Uzbekistan's exports have grown rapidly, in particular in the textile and metallurgy sectors. And there is huge potential for even greater growth," the head of the European Commission noted.

Ursula von der Leyen said that together with international partners, the European Union will invest up to 10 billion euros in the Trans-Caspian Corridor, which will connect Europe and Central Asia in less than 15 days.

"We are also working to connect Uzbekistan to our satellite network in order to bring the best digital connectivity to the most remote corners of your country. Uzbekistan is located at the crossroads of our continents and should also be at the center of our global connections," she said.

In December 2023, it became known that the European Union intends to help Central Asian countries, including Uzbekistan, diversify their internet sources. In particular, the EU offers the countries of the region European satellite communications developed by SES. Unlike the American Starlink, SES satellites orbit the planet in medium orbit, not low.

The European Union and Uzbekistan are expanding cooperation in strategic sectors, Ursula von der Leyen continued. In April, the parties signed an agreement on the supply chain of critical minerals.

"We know that some investors are only interested in raw material extraction, but we are not like that. We want to support the creation of local industries with jobs for local residents and added value of the highest standards. Because this is the best way to create a more resilient supply chain,” she stressed.

The President of the European Commission announced the imminent signing of a new agreement with Uzbekistan on enhanced partnership and cooperation, which “will further increase investment and trade between Uzbekistan and Europe.”

She emphasized that the first ever Central Asia-EU summit will take place in Samarkand next year.

“The best days of our partnership are yet to come!” Ursula von der Leyen concluded.