Uzbekistan and Vietnam Agree to Deepen Cooperation

Tashkent, Uzbekistan (UzDaily.com) — On 24 December, the eighth meeting of the Vietnam–Uzbekistan Intergovernmental Committee on Trade, Economic, and Scientific-Technical Cooperation was held in Hanoi, the Vietnam News Agency (VNA) reports.

Vietnam’s Deputy Minister of Industry and Trade, Pham Thi Thanh, stated that both sides will continue to deepen bilateral engagement across all key areas, prioritizing trade, economic, and scientific-technical cooperation.

Uzbekistan’s Deputy Minister of Investment, Industry and Trade, Ilzat Kasimov, emphasized that Uzbekistan considers Vietnam a priority partner in the region and supports strengthening inter-agency coordination to improve project effectiveness and facilitate business operations.

He also confirmed Tashkent’s readiness to create favorable conditions for Vietnamese companies investing in Uzbekistan and proposed the establishment of a joint trade working group within the intergovernmental committee.

The parties reviewed the current state of cooperation and highlighted key areas for further development, including agriculture and agro-processing, light industry, automotive manufacturing, logistics and transport, construction, tourism, and culture.

It was emphasized that the two countries’ economies possess complementary potential, enabling the formation of supply chains from production and processing to export to external markets.

Following the meeting, government agencies and business entities confirmed their intention to translate the agreements reached into practical projects.

According to the Vietnam Customs Department, bilateral trade in 2024 reached US$202 million—the highest level ever recorded—with a 26.5% year-on-year increase. Vietnam’s exports amounted to US$128.61 million (+75%), while imports totaled US$73.38 million (-14.9%). Uzbekistan is Vietnam’s second-largest trading partner in Central Asia, while Vietnam ranks first among Uzbekistan’s partners in ASEAN.

Vietnam’s exports to Uzbekistan include phones and components, computers and electronic parts, machinery, rubber products, cashew nuts, and automotive components. Imports from Uzbekistan consist of fertilizers, raw materials for the textile industry, leather and footwear materials, and cotton.

Currently, five Vietnamese investment projects are underway in Uzbekistan, with a total registered capital of approximately US$4.43 million.