Entrepreneurs and officials from Uzbekistan and the UAE signed a series of agreements, press service of the Ministry of Investments, Industry and Trade said on Monday.

Officials and business leaders from the two nations met in Abu Dhabi ahead of president Shavkat Mirziyoyev’s visit. The sides discussed the development and expansion of trade, economic and investment cooperation.

As of end of 2024, trade turnover between Uzbekistan and the UAE reached nearly $650 million. Uzbekistan hosts 337 enterprises with UAE investments, including 114 joint ventures and 223 subsidiary companies.

The volume of investments used last year rose from $1.08 billion to $1.5 billion. The two countries are implementing projects in traditional and alternative energy, chemical industry, geology, IT, agriculture, transportation and logistics.

The portfolio of the Uzbek-Emirati investment company Abu Dhabi Uzbek Investment includes seven projects in healthcare, mining, agriculture and tourism, valued at $192.5 million. Additional nine initiatives, with a total value of $140 million, are under development.

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A total of 15 agreements and contracts were signed at the meeting, with companies including AMEA Power, Masdar, Solar Power Shine, M42, Burjeel Holdings (a private healthcare provider in the UAE), IFFCO (a manufacturer and exporter of consumer goods), TWS, Alserkal Group, Metito, AD Ports, Jetex, Emirates Group and others.

The documents cover sectors such as energy, agriculture, water supply, infrastructure projects, as well as transport and logistics industries.

Minister of transport Ilkhom Mahkamov and Jetex founder Adel Mardini signed a memorandum under which Jetex plans to provide VIP and CIP services at the under-construction Tashkent-East airport through a public-private partnership in the form of a fixed base operator (FBO). The company initially planned to enter the Uzbekistan market in 2020.

The project also includes services for maintenance, sale and storage of aircraft in the business aviation sector, along with the introduction of air taxi and VIP taxi services.