DIEZ, Uzbekistan Forge Alliance to Advance Digital Trade Growth

The Dubai Integrated Economic Zones Authority (DIEZ) signed a memorandum of understanding (MoU) with the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan.

The MoU aims to foster collaboration, enhance strategic partnerships, and increase the volume of trade exchange between the UAE and Uzbekistan, driving economic growth in both countries.

An MoU between the UAE and Uzbekistan aims to boost digital technology and sustainability sectors in both countries, fostering digital commerce. It includes creating a joint digital platform leveraging Dubai CommerCity's expertise.

Dr. Mohammed Al Zarooni of DIEZ emphasized enhancing UAE-Uzbekistan relations, inviting Uzbek companies to utilize DIEZ's benefits for expansion.

Laziz Kudratov highlighted Uzbekistan's commitment to economic ties, praising Dubai's role in facilitating exports. The visit included meetings with Uzum company, Chamber of Commerce, and visits to Tashkent Pharma Park and Angren FEZ to explore partnerships and investment opportunities.

In January 2024, the UAE and Uzbekistan signed a MoU to mutually exempt holders of diplomatic, special, VIP, and regular passports from entry visas. This agreement aims to facilitate travel between the two countries, strengthen bilateral relations and foster joint cooperation across various fields. Notably, there are over 50 weekly flights connecting Uzbekistan and the UAE.

Bilateral relations between the UAE and Uzbekistan are witnessing continuous development, as non-oil foreign trade between the two countries reached a record growth rate of 104 percent, with the value of trade exchanges reaching US$993 million in 2022, compared to US$487 million in 2021. The total UAE non-oil exports to Uzbekistan reached about US$92 million in 2022, with a growth rate of 190 percent compared to 2021.

News Source: Emirates News Agency