🇬🇧🇺🇿 The article discusses the growing economic ties between the UK and Uzbekistan as the latter opens its economy to Western markets. UK Export Finance (UKEF) has made significant moves by guaranteeing loans to Uzbek companies, particularly in the mining sector, facilitating the export of British machinery and technology. This strengthens bilateral trade, with a focus on sectors like mining, renewable energy, and clean technology. Uzbekistan's economic reforms and modernization efforts align well with UK expertise, offering substantial opportunities for British businesses.

You can read more here: https://emerging-europe.com/analysis/for-uk-firms-uzbekistans-economic-opening-offers-a-wealth-of-opportunities/

🇬🇧 UK Export Finance (UKEF) has guaranteed a €12.6 million loan to 🇺🇿 Almalyk Mining and Metallurgical Complex (AMMC), marking its first deal in Uzbekistan. The loan will help AMMC refinance its purchase of specialist machinery from Weir, a Scottish multinational, for one of Central Asia’s largest copper production facilities.

🤝 This deal supports Weir in delivering a significant order, originally received in 2022, to supply fully automated machinery for AMMC. The agreement follows UKEF’s appointment of a representative in Tashkent, managing up to £4 billion in financing opportunities.

💳 UKEF's involvement aims to promote UK machinery exports, further strengthening trade ties. In 2023, total UK-Uzbekistan trade was valued at £381 million, with specialised machinery being the fourth most-traded commodity.

🇬🇧🇺🇸RFA has registered a legal entity in Uzbekistan and is preparing to obtain resident status at 🇺🇿 IT Park Uzbekistan, with plans to hire local talent for the export of digital services. RFA provides a wide range of technological solutions to more than 800 hedge funds and investment firms globally. The services offered include cloud solutions, IT service management, cybersecurity, data management, application services, and a managed detection and response system.

The opening of an IT center in Uzbekistan will create new opportunities for attracting foreign investment in the IT sector, increase the country’s export potential, and generate new jobs.