Bilateral Trade with the United States Reaches US$1 Billion as Number of Joint Ventures Grows to 340

Tashkent, Uzbekistan (UzDaily.com) — Economic and investment ties between Uzbekistan and the United States have seen substantial growth and structural transformation over the past eight years, according to a statement by Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov, published on his LinkedIn page.

He recalled that in 2018, when the presidents of the two countries met in Washington, bilateral economic relations were relatively modest. At that time, there were 45 joint ventures in operation, bilateral trade stood at around US$215 million, and annual investment inflows did not exceed US$23 million.

“Eight years later, the picture looks very different. By 2025, Uzbekistan hosts 340 joint ventures — almost an eightfold increase. Bilateral trade has reached approximately US$1 billion, nearly five times higher than before, while annual investment inflows have risen to US$840 million, more than 35 times the 2018 level,” Laziz Kudratov emphasized.

The minister noted that current relations between the two countries go far beyond simple trade exchange and now represent structured industrial and financial cooperation. Among the US companies operating or implementing projects in Uzbekistan, he highlighted Air Products, General Motors, John Deere, CNH, Caterpillar Inc., Boeing, GE, Valmont Industries, Inc., Visa, Mastercard, The Coca-Cola Company, PepsiCo, Hilton, Hyatt and Marriott International, among others.

“These figures clearly demonstrate how dramatically our relations have expanded in less than a decade. We will continue to strengthen this partnership, focusing on tangible outcomes and long-term cooperation,” the minister added.

As a result, Uzbekistan has evolved in a relatively short period from a country with limited trade and investment ties into an active US partner in industry, finance and services, a shift reflected in the sharp rise in joint ventures, trade volumes and investment inflows.