Uzbekistan deepens ties with the US, with Mirziyoyev urging export and investment expansion.

Mirziyoyev signed an $8.5 billion order for Boeing aircraft on the sidelines of the United Nations General Assembly in New York, signaling Uzbekistan's transformation from a landlocked Central Asian nation to a global economic and trade partner.

Uzbek President Shavkat Mirziyoyev conducted a series of economic diplomacy activities during the 80th UN General Assembly. On September 22, Uzbekistan Airways and Boeing signed an agreement to purchase 14 Boeing 787 Dreamliners, with options for eight more. The $8.5 billion deal is the largest of its kind in Central Asia.

Mirziyoyev also met with executives from US financial giants such as Citigroup and Franklin Templeton to promote Uzbekistan's credit rating and cooperation.

These initiatives are a continuation of the reform and opening-up policies Mirziyoyev has implemented since assuming office in 2016. Over the past eight years, merchandise trade between Uzbekistan and the United States has quadrupled, and over 300 American companies have invested in Uzbekistan's economy.

01 Economic Transformation: Uzbekistan's Opening-up Achievements as Seen from the Data

At an expanded meeting chaired by President Mirziyoyev on September 26, he released the economic performance report for the first nine months of 2025. Data showed that Uzbekistan attracted $33.5 billion in foreign investment, and exports from January to August increased by over 30% year-on-year, exceeding $23 billion.

This achievement stems from a series of economic reforms implemented by Mirziyoyev. He lowered key tax rates, reducing value-added tax, corporate income tax, and property tax from 20% to 12%, and established the Foreign Investors Council, a permanent mechanism for dialogue with the private sector.

Uzbekistan also significantly streamlined administrative procedures, abolishing over 500 government functions, streamlining over 70 public services, and eliminating over 30 types of licenses. These measures have significantly improved the business environment, enabling Uzbekistan to surpass Kazakhstan in foreign direct investment in Central Asia for the first time, becoming the region's leading recipient. The export structure has also undergone positive changes. Non-gold commodity exports grew by 23%, with fruit and vegetable exports increasing by 140%, jewelry exports increasing sixfold, and uranium exports increasing by 123%. Service exports have become a new bright spot, with tourism service exports increasing by 154%, IT service exports by 193%, and transportation service exports by 122%.

02 High-level Promotion: Economic Cooperation Mechanisms between Uzbekistan and the United States

During his visit to the United States, Mirziyoyev announced that each Uzbek state will establish direct partnerships with specific U.S. states to deepen cooperation between businesses in both regions. This initiative elevates local-level cooperation to an unprecedented level.

The Uzbek-US Business Forum was held in Washington, D.C., with attendees from key ministries, industry associations, commercial banks, and investment institutions from both countries, as well as heads of major U.S. companies in the information and communications technology, engineering, agriculture, light industry, and transportation sectors.

This high-level promotion of economic cooperation has already yielded initial results. Uzbekistan and Franklin Templeton have jointly established a national investment fund to support innovative projects. The two sides also identified priority areas for future economic cooperation, including the development of information technology, artificial intelligence, digitalization, and sustainable agriculture.

Following a meeting between U.S. Special Envoy Sergio Gore and Mirziyoyev, the two sides reached an agreement to accelerate projects in areas such as natural gas chemical processing and clean fuel production. This government-led cooperation mechanism provides a stable framework for businesses from both countries.

03 Multi-sector Cooperation: Substantial Progress in U.S.-Uzbek Economic and Trade Relations

In the aviation sector, the agreement between Uzbekistan Airways and Boeing encompasses not only the purchase of aircraft but also a long-term cooperation plan. Boeing Vice President Brad McMullen said, "We value our partnership with Uzbekistan Airways and will continue to support their growth strategy."

This partnership will help Uzbekistan establish Tashkent as an international aviation hub connecting Central Asia with North America, Europe, the Middle East, and the Asia-Pacific region.

In the agricultural sector, Uzbekistan is negotiating with the U.S. Department of Agriculture and the Cotton Council of America to import U.S. cotton through the GSM-102 program. This move is of considerable strategic significance. Uzbekistan, a traditional cotton exporter, is now shifting to importing American cotton for processing into high-value-added textiles for re-export.

In terms of financial cooperation, Citigroup has pledged to help improve Uzbekistan's credit rating. The Industrial and Construction Bank of Uzbekistan has become a participant in Central Asia's first GSM-102 program, securing trade financing lines of credit by providing guarantees.

In the energy, mining, and infrastructure sectors, Uzbekistan has signed numerous cooperation agreements with American companies such as Air Products and Schlumberger. These collaborations encompass not only resource development but also technology transfer and talent development.

04 Strategic Layout: Uzbekistan's Diverse Diplomacy and Economic Balance

While deepening its relations with the United States, Uzbekistan is also maintaining a balanced cooperation with countries such as Russia and China. China remains Uzbekistan's largest trading partner. From January to April 2025, Uzbek-China trade reached US$5.398 billion, accounting for 17.2% of Uzbekistan's total.

Analysts point out that Central Asian countries are seeking US investment to balance the influence of China and Russia. With increasing Chinese investment in Central Asian mining, countries like Uzbekistan are welcoming US companies to participate in their economic development, aiming to diversify their partnerships.

The US's interest in Central Asia is also linked to its demand for critical mineral resources. Uzbekistan and Kazakhstan are rich in resources such as oil, natural gas, uranium, and rare earth elements. The US needs these resources, particularly rare earth elements, to develop its high-tech and military industries, and China currently dominates the rare earth supply chain.

In his UN address, Mirziyoyev emphasized issues such as global food security, climate change, and regional cooperation, positioning Uzbekistan as a country committed to global dialogue and stability. This multilateral engagement strategy will help enhance Uzbekistan's influence in international affairs.

05 Future Outlook: Prospects and Challenges of Uzbekistan's Reform and Opening Up

The Mirziyoyev government has formulated the ambitious "Uzbekistan-2030" strategy, aiming to increase the private sector's share of GDP to 85% by 2030. The World Bank's "World Investment Report 2025" indicates that Uzbekistan will receive $2.8 billion in foreign investment in 2024, surpassing Kazakhstan to take the top spot in Central Asia for the first time in 30 years.

Uzbekistan is actively seeking membership in the World Trade Organization and has met with WTO Director-General Ngozi Okonjo-Iweala to accelerate its accession negotiations. This will further advance its economic globalization.

Challenges remain. At a meeting on September 26, Mirziyoyev noted that regional development is uneven, with some regions even experiencing decline. The investment attractiveness of sectors such as the textile industry, natural gas transportation, steel, and water companies also needs to be improved.

The uncertainty of the US political environment is also a factor that Uzbekistan must contend with. The Trump administration's unilateral stance on trade policy may affect the stability of future Uzbek-US cooperation.

As Uzbekistan continues its economic transformation, international observers are closely watching how this Central Asian country can balance the pace of reform with social stability. The U.S. Department of Commerce called Uzbekistan's deal with Boeing "the largest commercial aircraft agreement of its kind in Central Asia."

For Mirziyoyev, these economic collaborations are not only a means of developing the domestic economy but also a strategy to enhance Uzbekistan's international standing. With the advancement of the "Uzbekistan-2030" strategy, the Central Asian country is expected to further consolidate its position as a regional economic hub in the coming years.