On October 22-24, 2024, Kazan will host the next summit of BRICS, a growing association of 10 countries, where almost 45% of the world's population lives and accounting for almost 30% of the world economy.
With every year of its work, BRICS is increasingly becoming an effective platform for mutually beneficial partnership between the member countries. The organization works in the format of annual summits, where the heads of state discuss opportunities to accelerate economic growth, ensure social stability and strengthen its position in the global community.
The main areas of international cooperation include the development of relations in the areas of politics and security, the agenda of which is formed at meetings of foreign ministers and security advisors from the BRICS countries, economy, foreign trade, finance, industry - in the framework of which representatives of trade, economic, financial and fiscal ministries and agencies meet, as well as culture that involves unlocking the potential of cooperation in the field of science and culture.
Uzbekistan’s cooperation with the BRICS countries
Uzbekistan is actively developing cooperation with BRICS member countries. Intergovernmental commissions have been established with most of the member countries to set the agenda for trade, economic and investment interaction and develop practical measures to increase the volume of trade turnover and mutual attraction of investments. Business and interregional forums are organized on a regular basis to strengthen ties between representatives of business circles and regions.
Cooperation and mutual support of initiatives within the framework of international organizations, in particular, the UN has been established. Active dialogue in the spheres of culture and sports is developing.
Trade and economic cooperation is actively developing with many BRICS member countries. For instance, investment funds have been established with Russia and the UAE, which are an effective tool for financing large joint projects. The volume of trade with the Russian Federation increased from $4.7 billion in 2017 to $9.9 billion in 2023. The volume of bilateral trade with the UAE amounted to $626 million in 2023, up 21% year-on-year.
More than 320 enterprises with UAE capital operate in Uzbekistan. 37 projects worth $14.8 billion are being implemented. Active investment portfolio with Russia includes 278 projects worth more than $40 billion. 3044 enterprises with Russian capital are successfully operating in Uzbekistan.
Brazil, despite its considerable geographical remoteness, maintains stable, friendly relations with Uzbekistan, consistently increasing trade and economic ties. Being in the same bloc with one of the largest South American countries with a capacious market opens up significant export and investment opportunities for Uzbekistan. Both countries consider bilateral trade and economic relations as the most important area of cooperation. At the end of 2023, trade turnover amounted to $656.6 million, which is almost twice as much as the same indicator of the previous year.
The legal framework of Uzbek-Iranian bilateral relations is governed by 88 signed documents on political, trade-economic, scientific-technical and cultural-humanitarian cooperation, including an agreement on mutual promotion and protection of investments. An intergovernmental commission on trade-economic and scientific-technical cooperation is functioning.
The volume of Uzbek-Iranian trade turnover exceeded 300 million dollars by the end of 2023. More than 250 enterprises with Iranian capital operate in Uzbekistan. A trade house of Uzbekistan's industrial products was opened in Tehran. Cargo flow from Uzbekistan in 2023 exceeded 1.3 million tons.
The Uzbek-Chinese Intergovernmental Committee on Cooperation, including 8 subcommittees, operates between Uzbekistan and China. Interparliamentary, intergovernmental, interregional ties, cooperation and mutual support within the UN and international organizations have been established.
According to the results of 2023, the volume of mutual trade with China reached the mark of 13.7 billion dollars, which is almost 3 times more than in 2017.
The total volume of absorbed Chinese investments in 2017-2024 amounted to $18.4 billion. As of 2024, there are 2,982 enterprises with Chinese investment in Uzbekistan.
The growth of mutual trade and investment partnership with Saudi Arabia, Egypt and South Africa has a similar positive dynamic of development.
Uzbekistan-India ties
As one of the first countries to recognize Uzbekistan's independence, India occupies a distinct position among Uzbekistan's closest partners.
Since 1992, 12 high-level visits have taken place. Within the framework of which 98 documents worth $2.3 billion have been signed. Relations between the two countries have been raised to the level of strategic partnership.
Inter-parliamentary groups on cooperation with the upper and lower houses of the Indian Parliament have been established in both chambers of the Uzbek Parliament.
Political consultations are being held between the Foreign Ministries of the two countries, and a multilateral India-Central Asia dialogue has been established with the participation of Afghanistan at the level of foreign ministers.
The countries pay great attention to expanding cooperation in trade, economic and investment spheres. Most-favored-nation treatment has been established in mutual trade. There is a joint Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation.
The Uzbek-Indian Trade House was established in Delhi, and the Uzbek-Indian Center for Entrepreneurship Development was established in Tashkent.
Today, 311 enterprises with Indian capital are operating in Uzbekistan, and 42 new entities have been created since the beginning of this year alone.
The Uzbek-Indian Business Council and the Uzbek-Indian Committee for Coordination and Promotion of Practical Implementation of Bilateral Projects have been established and are actively operating.
These measures are yielding results: in 2023, trade turnover amounted to $756.5 million with an increase of 9.4%. In the period January-August this year, this indicator amounted to $585.3 million, showing an increase of 31%. The volume of assimilated direct Indian investments for January-July of this year showed growth by 12% compared to the results of the whole year.
The main directions of development of investment cooperation are construction of medical centers, mining and processing of minerals, production of construction materials, development of information and communication technologies, light industry and others.
India is actively providing financial and technical assistance to the implementation of infrastructure projects in Uzbekistan - Eximbank of India has allocated a credit line of about half a billion dollars for this purpose.
Both countries share historical and cultural ties. The traditions of cultural cooperation between Uzbekistan and India have been preserved through the Uzbek-Indian Friendship Society, chaired by Anil Shastri, a social and political activist, son of the former Prime Minister of India and “Honorary Citizen of Tashkent”.
India is a recognized leader in the field of information and communication technologies. It is for this reason that the quality of education is in high demand among Uzbek youth. Today, branches of Amity University and Sambram University and Acharya University specializing in information and communication technologies, Sharda University training specialists in electrical engineering, information and communication technologies and business management have been established in Uzbekistan. The Technological Park of Software Products and Information Technologies has been launched in Tashkent.
The number of tourists from India visiting Uzbekistan has increased from 4,834 in 2020 to more than 45,000 in 2023.
In general, the legal framework for cooperation between Uzbekistan and India includes 117 interstate, intergovernmental and interdepartmental documents.
Uzbekistan's participation in the BRICS Plus format, which is a coherent consequence of Uzbekistan's balanced foreign policy, will allow to expand the dialogue with Indian partners in a number of areas, which will undoubtedly serve as a trigger for the development of new joint initiatives and strengthening of the bilateral format of interaction, while promoting national interests.
It is also an excellent opportunity to promote mutual trade and investment, exchange advanced technologies and knowledge, develop industrial cooperation, and strengthen constructive dialogue in the field of culture and security.
With every year of its work, BRICS is increasingly becoming an effective platform for mutually beneficial partnership between the member countries. The organization works in the format of annual summits, where the heads of state discuss opportunities to accelerate economic growth, ensure social stability and strengthen its position in the global community.
The main areas of international cooperation include the development of relations in the areas of politics and security, the agenda of which is formed at meetings of foreign ministers and security advisors from the BRICS countries, economy, foreign trade, finance, industry - in the framework of which representatives of trade, economic, financial and fiscal ministries and agencies meet, as well as culture that involves unlocking the potential of cooperation in the field of science and culture.
Uzbekistan’s cooperation with the BRICS countries
Uzbekistan is actively developing cooperation with BRICS member countries. Intergovernmental commissions have been established with most of the member countries to set the agenda for trade, economic and investment interaction and develop practical measures to increase the volume of trade turnover and mutual attraction of investments. Business and interregional forums are organized on a regular basis to strengthen ties between representatives of business circles and regions.
Cooperation and mutual support of initiatives within the framework of international organizations, in particular, the UN has been established. Active dialogue in the spheres of culture and sports is developing.
Trade and economic cooperation is actively developing with many BRICS member countries. For instance, investment funds have been established with Russia and the UAE, which are an effective tool for financing large joint projects. The volume of trade with the Russian Federation increased from $4.7 billion in 2017 to $9.9 billion in 2023. The volume of bilateral trade with the UAE amounted to $626 million in 2023, up 21% year-on-year.
More than 320 enterprises with UAE capital operate in Uzbekistan. 37 projects worth $14.8 billion are being implemented. Active investment portfolio with Russia includes 278 projects worth more than $40 billion. 3044 enterprises with Russian capital are successfully operating in Uzbekistan.
Brazil, despite its considerable geographical remoteness, maintains stable, friendly relations with Uzbekistan, consistently increasing trade and economic ties. Being in the same bloc with one of the largest South American countries with a capacious market opens up significant export and investment opportunities for Uzbekistan. Both countries consider bilateral trade and economic relations as the most important area of cooperation. At the end of 2023, trade turnover amounted to $656.6 million, which is almost twice as much as the same indicator of the previous year.
The legal framework of Uzbek-Iranian bilateral relations is governed by 88 signed documents on political, trade-economic, scientific-technical and cultural-humanitarian cooperation, including an agreement on mutual promotion and protection of investments. An intergovernmental commission on trade-economic and scientific-technical cooperation is functioning.
The volume of Uzbek-Iranian trade turnover exceeded 300 million dollars by the end of 2023. More than 250 enterprises with Iranian capital operate in Uzbekistan. A trade house of Uzbekistan's industrial products was opened in Tehran. Cargo flow from Uzbekistan in 2023 exceeded 1.3 million tons.
The Uzbek-Chinese Intergovernmental Committee on Cooperation, including 8 subcommittees, operates between Uzbekistan and China. Interparliamentary, intergovernmental, interregional ties, cooperation and mutual support within the UN and international organizations have been established.
According to the results of 2023, the volume of mutual trade with China reached the mark of 13.7 billion dollars, which is almost 3 times more than in 2017.
The total volume of absorbed Chinese investments in 2017-2024 amounted to $18.4 billion. As of 2024, there are 2,982 enterprises with Chinese investment in Uzbekistan.
The growth of mutual trade and investment partnership with Saudi Arabia, Egypt and South Africa has a similar positive dynamic of development.
Uzbekistan-India ties
As one of the first countries to recognize Uzbekistan's independence, India occupies a distinct position among Uzbekistan's closest partners.
Since 1992, 12 high-level visits have taken place. Within the framework of which 98 documents worth $2.3 billion have been signed. Relations between the two countries have been raised to the level of strategic partnership.
Inter-parliamentary groups on cooperation with the upper and lower houses of the Indian Parliament have been established in both chambers of the Uzbek Parliament.
Political consultations are being held between the Foreign Ministries of the two countries, and a multilateral India-Central Asia dialogue has been established with the participation of Afghanistan at the level of foreign ministers.
The countries pay great attention to expanding cooperation in trade, economic and investment spheres. Most-favored-nation treatment has been established in mutual trade. There is a joint Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation.
The Uzbek-Indian Trade House was established in Delhi, and the Uzbek-Indian Center for Entrepreneurship Development was established in Tashkent.
Today, 311 enterprises with Indian capital are operating in Uzbekistan, and 42 new entities have been created since the beginning of this year alone.
The Uzbek-Indian Business Council and the Uzbek-Indian Committee for Coordination and Promotion of Practical Implementation of Bilateral Projects have been established and are actively operating.
These measures are yielding results: in 2023, trade turnover amounted to $756.5 million with an increase of 9.4%. In the period January-August this year, this indicator amounted to $585.3 million, showing an increase of 31%. The volume of assimilated direct Indian investments for January-July of this year showed growth by 12% compared to the results of the whole year.
The main directions of development of investment cooperation are construction of medical centers, mining and processing of minerals, production of construction materials, development of information and communication technologies, light industry and others.
India is actively providing financial and technical assistance to the implementation of infrastructure projects in Uzbekistan - Eximbank of India has allocated a credit line of about half a billion dollars for this purpose.
Both countries share historical and cultural ties. The traditions of cultural cooperation between Uzbekistan and India have been preserved through the Uzbek-Indian Friendship Society, chaired by Anil Shastri, a social and political activist, son of the former Prime Minister of India and “Honorary Citizen of Tashkent”.
India is a recognized leader in the field of information and communication technologies. It is for this reason that the quality of education is in high demand among Uzbek youth. Today, branches of Amity University and Sambram University and Acharya University specializing in information and communication technologies, Sharda University training specialists in electrical engineering, information and communication technologies and business management have been established in Uzbekistan. The Technological Park of Software Products and Information Technologies has been launched in Tashkent.
The number of tourists from India visiting Uzbekistan has increased from 4,834 in 2020 to more than 45,000 in 2023.
In general, the legal framework for cooperation between Uzbekistan and India includes 117 interstate, intergovernmental and interdepartmental documents.
Uzbekistan's participation in the BRICS Plus format, which is a coherent consequence of Uzbekistan's balanced foreign policy, will allow to expand the dialogue with Indian partners in a number of areas, which will undoubtedly serve as a trigger for the development of new joint initiatives and strengthening of the bilateral format of interaction, while promoting national interests.
It is also an excellent opportunity to promote mutual trade and investment, exchange advanced technologies and knowledge, develop industrial cooperation, and strengthen constructive dialogue in the field of culture and security.
