Uzbekistan eyes increased agricultural exports via Dubai

During the talks, Vakhabov and Lootah explored various aspects of bilateral cooperation, including investment opportunities, trade, economic relations, and financial collaboration. A key focus of the discussions was the potential for exporting agricultural products to the UAE, along with other major categories such as construction materials, textiles, and light industry goods.

One significant proposal involves the re-export of Uzbek agricultural products to Middle Eastern markets, utilizing Dubai’s Free Economic Zone (FEZ) to facilitate this process. This strategy aims to enhance Uzbekistan's presence in the region's agricultural market, potentially increasing its export volumes.

Additionally, the leaders discussed attracting Dubai investors to Uzbekistan’s tourism sector, highlighting the importance of foreign investment in bolstering the country's economic growth. They also announced plans to hold a joint Uzbek-Emirati business forum in December 2024, further strengthening business ties between the two nations.

The recent negotiations follow Vakhabov's previous meetings, including discussions with Rifat Hisarcıklıoğlu, the President of the Turkish Union of Chambers and Commodity Exchanges, which resulted in an agreement to establish a CCI representative office in Istanbul. This illustrates Uzbekistan's ongoing efforts to enhance international trade relations.

Furthermore, in late September, the Uzbekistan CCI and Dubai CCI signed a memorandum of cooperation aimed at creating joint ventures in agriculture and organizing exports to the Gulf Cooperation Council (GCC) countries, paving the way for deeper economic collaboration.