Timothy Smart: UK–Uzbekistan Bilateral Trade Rose from £275 Million to £2.2 Billion in Two and a Half Years

Tashkent, Uzbekistan (UzDaily.com) — The British Ambassador to Uzbekistan, Timothy Smart, highlighted the significant growth in bilateral trade and the prospects for expanding cooperation during the UK–Uzbekistan Infrastructure Conference, according to the Dunyо news agency.

He noted that over the past two and a half years, trade between the two countries increased from £275 million to £2.2 billion, and the UK intends to continue strengthening collaboration in the areas of economy, infrastructure, and investment.

The ambassador emphasized that this cooperation is built on a solid foundation of both commercial and governmental ties. As a G7 country and a permanent member of the UN Security Council, the United Kingdom offers Uzbekistan access to expertise and resources in finance, digital technologies, education, mining, and agriculture.

At the same time, knowledge exchange works both ways, allowing British specialists to also learn from their Uzbek counterparts.

Particular attention at the conference was given to infrastructure projects and the financial models for their implementation. Timothy Smart cited the example of potential joint participation in the construction of a high-speed railway, where British companies could handle design, Turkish contractors manage construction, and Uzbek specialists oversee operations.

UK Export Finance is ready to provide competitive financial instruments, including £4 billion in export guarantees—equivalent to approximately $5.5 billion—of which less than $100 million has been utilized, highlighting significant potential for new projects.

The ambassador stressed that strengthening governmental links and active engagement at all levels remain a crucial component of cooperation. He expressed gratitude to the Ministry of Foreign Affairs of Uzbekistan for organizing Lord Alderdice’s visit and the events in Samarkand and Navoi, noting the high level of preparation and coordination.

Smart placed particular emphasis on the comprehensive “people-to-people, business-to-business, government-to-government” partnership model, which he believes will effectively support President Mirziyoyev’s reforms and expand opportunities for joint projects, ensuring sustainable growth and the development of bilateral relations.