Uzbek Minister highlights strengthening trade and investment ties with Kuwait
Qudratov outlines opportunities for collaboration in key sectors, including oil and gas, construction, banking, and agriculture, and stressed Uzbekistan’s commitment to attracting Kuwaiti investment under a secure legal framework offering full foreign ownership and profit repatriation.
The Times Kuwait Report
The Minister of Investment, Industry, and Trade of Uzbekistan, Laziz Qudratov, said the Uzbek delegation’s visit to Kuwait follows up on the outcomes of President Shavkat Mirziyoyev’s official visit to the country earlier this year, which resulted in agreements and understandings at the highest leadership levels between the two nations.
Speaking at the Kuwait Chamber of Commerce and Industry on the sidelines of the Kuwaiti-Uzbek Business Forum and Uzbek Product Exhibition, Qudratov noted that both sides are preparing for a meeting of the Joint Government Committee to ensure the full implementation of all agreements reached. He highlighted the tangible progress in bilateral cooperation, which is already visible on the ground.
The minister pointed out that direct flights between Kuwait and Uzbekistan have increased to four per week, boosting travel, tourism, and trade. He also noted the establishment of new logistical corridors to facilitate the smooth flow of goods between the two countries, positively impacting trade volumes.
Qudratov stated that discussions include major investment projects, with the Chamber meetings presenting new ideas and promising opportunities for collaboration between public and private sectors in both countries.
He emphasized Uzbekistan’s interest in attracting Kuwaiti technology, expertise, and capital to support development plans in key sectors, including oil and gas, chemical industries, construction, real estate, and banking.
The Uzbek delegation includes leading business figures and companies keen to establish long-term partnerships with Kuwaiti counterparts based on mutual benefit, strengthening economic ties for the future.
The minister also highlighted Kuwait’s strategic role as a regional hub, describing the Kuwaiti market as an ideal gateway for Uzbek products.
He confirmed that Uzbekistan has already begun shipping products through Kuwait, and expressed confidence that joint efforts between both governments would foster a sustainable trade route from Uzbekistan to the Gulf Cooperation Council (GCC) markets.
Regarding food security, Qudratov emphasized Uzbekistan’s potential to support Kuwait, noting that the country ranks among the world’s top ten fruit producers, including cherries, apricots, and figs.
He suggested two avenues for agricultural cooperation: direct supply of products to Kuwaiti companies or establishing joint agricultural ventures in Uzbekistan to grow goods tailored to Kuwait’s market.
Addressing potential investors, the minister highlighted Uzbekistan’s comprehensive, internationally recognized legal framework, including investment protection laws, economic zones, and public-private partnership regulations.
He reassured that foreign investors enjoy 100% ownership rights, protection against nationalization, free profit repatriation, and currency convertibility. Currently, more than 18,000 foreign investors operate nearly 20,000 companies in Uzbekistan, reflecting strong confidence in the market.
Qudratov encouraged Kuwaiti companies to visit Uzbekistan, noting the convenience of four weekly direct flights with a maximum three-hour flight time. He stressed that an on-the-ground visit would clearly reveal the abundant investment opportunities available.
He also mentioned that Uzbek laws allow 100% foreign ownership, as well as joint ventures, including partnerships with state companies if desired. The Ministry of Investment is ready to facilitate connections with suitable partners.
Additionally, an Uzbek economic representative stationed in Kuwait can provide support, answer investor queries, and connect them with potential partners in Uzbekistan.
Concluding his remarks, Qudratov expressed that Uzbek companies are also interested in investing in Kuwait, particularly in textiles, food industries, logistics, and distribution centers, confident that long-term partnerships between the two countries can be successfully built.
