Uzbekistan and Spain Strengthen Business Cooperation

Tashkent, Uzbekistan (UzDaily.com) — On 3 February 2026, in Madrid, Deputy Minister of Foreign Affairs of the Republic of Uzbekistan Bobur Usmanov held a working meeting with José Luis Bonet Ferrer, President of the Chamber of Commerce of the Kingdom of Spain.

During the discussions, both sides reviewed the current state and prospects for developing trade, economic, and investment cooperation between the two countries.

It was noted that Spain remains one of Uzbekistan’s key partners within the European Union. Over the past six years, bilateral trade has nearly doubled, reaching US$106.4 million by the end of 2025. At the same time, participants emphasized that current trade volumes do not fully reflect the potential of the two countries’ economies.

José Luis Bonet Ferrer highlighted that ongoing structural reforms in Uzbekistan—aimed at liberalizing trade, improving the investment climate, supporting the private sector, and protecting the rights of foreign investors—have produced tangible results, gradually increasing the interest of Spanish businesses in the country.

Factors enhancing Uzbekistan’s attractiveness for investors include a predictable regulatory environment, existing tax and customs incentives, free economic zones, industrial parks, and sector-specific clusters.

Following the meeting, both sides reaffirmed their commitment to practical and long-term cooperation, development of direct business contacts, and the organization of targeted B2B meetings and business forums.

Special attention will be given to facilitating the participation of Spanish entrepreneurs in the Tashkent International Investment Forum, as well as the joint organization of the Uzbekistan-Spain Business Forum in Madrid in 2026.

The Chamber of Commerce of Spain (Cámara de Comercio de España) is a national organization comprising 85 territorial chambers in Spain and 44 foreign offices across more than 40 countries in Europe, the Americas, Asia, Africa, and Australia. The Chamber represents the interests of Spanish businesses, supports international trade and investment, facilitates business contacts, and promotes the internationalization of companies across all sectors, serving as an intermediary between the private sector and governmental and international institutions.