The Dubai Integrated Economic Zones Authority (DIEZ) has signed a memorandum of understanding (MoU) with the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan.
The MoU aims to foster collaboration, enhance strategic partnerships, and increase the volume of trade exchange between the UAE and Uzbekistan, driving economic growth in both countries.
According to the MoU, both parties have committed to bolstering companies specializing in digital technology and sustainability sectors within their respective countries. This agreement aims to foster the development of digital commerce in both the UAE and Uzbekistan.
Dr. Mohammed Al Zarooni Executive Chairman DIEZ
“DIEZ is keen to actively contribute to strengthening the existing relations between the UAE and Uzbekistan. This commitment includes supporting the leadership of both countries and elevating cooperation between the economic free zones in Dubai and Uzbekistan. Moreover, DIEZ aims to fortify trade and investment ties across crucial sectors, thereby enabling both business communities to pursue a broader spectrum of investment opportunities. The MoU signing with the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan aligns with DIEZ’s objectives of actively contributing to Dubai’s economic advancement and elevating the Emirate’s position as a regional and global investment hub, renowned for its business-friendly environment and streamlined processes.”
Moreover, the agreement entails the establishment of a joint digital platform enabling Uzbek companies and DIEZ counterparts to leverage opportunities for constructive cooperation and mutually beneficial partnerships. This initiative will harness the expertise of Dubai CommerCity, the free zone dedicated to digital commerce and part of DIEZ.
Laziz Kudratov, Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, emphasized his country’s commitment to enhancing economic ties with the UAE, aiming for continued growth and mutual prosperity and underscored the significance of bolstering bilateral relations and driving cooperation that would advance trade exchanges and foster partnerships within both business communities.
Furthermore, the Uzbek minister highlighted the potential for driving investments, facilitating knowledge transfer, and initiating collaborative ventures between the two countries.
Kudratov praised the significant role of Dubai and its economic zones in facilitating Uzbek exports’ entry into the UAE and broader Middle Eastern markets and urged the business community within the UAE to capitalize on Uzbekistan’s promising opportunities, particularly in sectors such as F&B, pharmaceuticals, infrastructure, industrial equipment, metals, electronics, textiles, and others.
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