Uzbekistan Weekly: Uzbekistan deepens China trade, launches dry port, bolsters export safeguards

February 26, 2026 to March 4, 2026

This week's top 10 stories from Uzbekistan, selected from our daily intelligence briefs.

1. Bilateral Forum Sets Goal to Lift China–Uzbekistan Trade to $20 Billion and Expand Joint Projects

Uzbekistan and China agreed to accelerate economic ties after a bilateral business forum that drew more than 70 Chinese companies and financial institutions alongside Uzbek officials and business leaders. Officials said 2025 year‑end trade reached $17.8 billion (a 34% increase year‑on‑year) and set a near‑term target of $20 billion in bilateral trade, with Chinese investment in Uzbekistan projected at $15.8 billion in 2025 and rising to $21 billion in 2026. A joint project pipeline valued at roughly $58.8 billion spans energy, industry, chemicals, machinery, textiles, logistics, IT and the green economy.

Key strategic priorities cited include construction of the China–Kyrgyzstan–Uzbekistan railway as a linchpin for a new Eurasian transport corridor, expansion of 10 China–Uzbekistan industrial zones, deeper processing and localization of raw materials, and financing mechanisms to support high‑tech, digital economy and energy‑efficiency projects under the Belt and Road framework. Preparations were also announced for the Third Interregional Forum in Xi’an, underscoring coordinated long‑term infrastructure and investment planning that could reshape regional trade and supply‑chain integration.

Local Coverage: uza.uz

From daily brief: 2026-03-04

2. U.S. Sanctions Target Uzbek National and Firm Over Alleged Role in Zero‑Day Trade Linked to Russian Hackers

The U.S. Treasury’s Office of Foreign Assets Control on [date unspecified] sanctioned Uzbek national Azizjon Mamashoyev (b. 1987) and his company Advance Security Solutions for allegedly providing material, technological and financial support to Russian broker Sergey Zelenyuk and facilitating the acquisition and resale of exploitation tools, including at least eight proprietary U.S. cyber technologies intended for government use. The designations also name Russian national Oleg Kucherov, linked to Trickbot, and actors associated with the Operation Zero network; measures freeze any assets under U.S. jurisdiction and bar U.S. persons from transactions with the designated parties.

Authorities say the targeted activity—stealing and illicitly selling zero‑day exploits—poses significant national security and economic risks by enabling advanced cyber operations and sustaining criminal cyber markets. The action follows earlier U.S. sanctions on Uzbekistan-linked firms (e.g., Datavice in 2025) and signals continued U.S. focus on disrupting international brokers and infrastructure that traffic in offensive cyber capabilities; designated entities may apply for delisting under established procedures.

Local Coverage: gazeta.uz, qalampir.uz, anhor.uz, kun.uz

From daily brief: 2026-02-26

3. Major Dry Port Project Announced in Sergeli District Following U.S. Visit Agreements

Following accords reached during the President’s recent visit to the United States, Uzbek authorities have announced plans for a large-scale dry port in Tashkent’s Sergeli district, signaling an effort to strengthen logistics infrastructure and attract foreign investment, Kun.uz reports. While the announcement provided no specifics on capacity, timelines, financing partners, regulatory changes or PPP terms, the project is presented as part of broader reforms to improve the business climate and support industrial growth.

For international investors and supply‑chain managers, the Sergeli dry port would likely link manufacturing zones to rail and road corridors, reduce customs bottlenecks, and bolster Tashkent’s bid to become a regional logistics hub. Market watchers will await concrete details on concessions, public–private partnership structures, integration with national transport strategy and any timelines or financial commitments that emerge in follow‑up announcements.

Local Coverage: kun.uz

From daily brief: 2026-02-27

4. Emergency Support Mechanism Launched for Exporters as Middle East Disruptions Hit Trade Routes

Uzbekistan’s Ministry of Investment, Industry and Trade has launched an emergency support mechanism for exporters affected by logistic and financial disruptions tied to the deteriorating Middle East situation. The ministry said transit and foreign‑trade operations routed through the region are facing logistics breakdowns, transport delays, customs clearance problems and international payment complications; exporters can seek help via the @miit_tashqisavdo_bot on Telegram or a 24/7 call centre at +998 71 238 52 52, run by the national export task force.

Analysts, including economist Mirkomil Kholboyev, warn the economic impact depends on the conflict’s duration: direct trade exposure is small (2025 exports to Iran $157m, 0.5% of total; imports $421m, 0.9%), and trade with Israel is minimal, but a complete halt with the region could cut exports ~3% and imports ~2.5%, shaving roughly 0.6 percentage points off GDP growth (a 50% slowdown would trim growth by 0.2–0.3 pp). Secondary channels—higher oil prices reducing global demand (notably from China), logistics risks via Iranian ports, tighter monetary policy from inflationary pressures, and offsetting gains from higher gold prices (a 10% rise in gold exports could add ~0.7 pp to GDP)—are key to the overall outcome.

Local Coverage: gazeta.uz

From daily brief: 2026-03-04

5. London Talks Advance C5+UK Agenda with Trade, Energy and Financing Deals

Uzbekistan and the UK used the inaugural Central Asia–UK ministers’ dialogue in London to deepen a strategic partnership across trade, investment, infrastructure, energy and regional connectivity. Foreign Minister Baxtiyor Saidov held meetings with UK Foreign Secretary Yvette Cooper and Deputy Prime Minister David Lammy, and joined talks that included Rio Tinto, Rolls‑Royce, Intertek and International Hospitals Group to outline concrete project pipelines and private‑sector entry points. Key outcomes include an MoU between Uzbekistan and UK Export Finance (UKEF) to deploy UKEF instruments for priority Uzbek infrastructure—broadening access to export credit and green financing—and new education and cooperation MoUs intended to boost youth exchanges and academic mobility.

The mission, which coincided with a visit by the UK Prime Minister’s Trade Envoy to Azerbaijan and Central Asia, Professor Lord Offord of Garvel, prioritized cooperation on critical minerals, renewables, supply‑chain diversification, capital markets and vocational training. The UK plans to convene the first S5+1 meeting with all five Central Asian foreign ministers in London on 26 February to focus on critical minerals, higher‑education partnerships and green growth, signalling sustained UK interest in diversifying supply chains and stabilizing the region. For Uzbekistan, closer alignment with UK investors and institutions could accelerate financing for transport and utilities, attract exploration and processing partners in critical minerals, and expand listings and instruments on local and regional exchanges; a UK–Uzbekistan Joint Economic Committee session is planned for late spring to advance these agendas.

Local Coverage: kun.uz, qalampir.uz, uzdaily.uz, gazeta.uz

From daily briefs: 2026-02-26, 2026-02-28

6. Termez Trade Hub to Expand to 1,000 Hectares with VAT Zero-Rating on Sales and Services

Uzbekistan will expand the Termez International Trade Center from its current footprint to 1,000 hectares and introduce zero VAT on all goods and services within the zone when treated as exports. Opened in August 2024 on the Afghan border, the free-trade hub already recorded more than 800,000 Afghan visitors and $320 million in exports last year; authorities have been tasked to raise exports to $600 million in 2025 and $1 billion in 2026 while creating 10,000 jobs by adding large-scale manufacturing on site.

To bolster rule of law and investor confidence, the government will establish dedicated prosecutor and police units for the zone and continue policies that facilitate cross-border commerce—such as accepting major currencies and allowing Afghans visa-free entry for up to 15 days via a special corridor. The move is part of a broader strategy to deepen bilateral trade with Afghanistan and help drive Uzbekistan’s goal of scaling trade toward a $5 billion target.

Local Coverage: kun.uz, qalampir.uz, gazeta.uz, uzdaily.uz

From daily brief: 2026-02-28

7. Regional War Expands as U.S. and Israel Pound Iran; Tehran Hits Gulf Bases and Hezbollah-Israel Front Erupts

U.S. and Israeli forces widened strikes on Iran, reportedly hitting more than 1,000 targets — including IRGC command sites, air defenses and ballistic missile facilities — using platforms such as B‑2 bombers, CENTCOM said, while Tehran launched successive drone and missile waves at U.S. positions and regional infrastructure across the Gulf. Damage and operational disruption were reported at major hubs including Dubai and Abu Dhabi airports; airspace closures remained in effect over the UAE, Qatar, Kuwait, Bahrain, Israel, Iraq and Iran, snarling global aviation and briefly pushing Brent toward $82 a barrel. CENTCOM spokesperson Capt. Tim Hawkins said Washington will not scale back strikes, while Iran’s Supreme National Security Council chief Ali Larijani explicitly rejected negotiations with the United States.

The confrontation has broadened geographically and functionally: Israel intensified operations against Hezbollah after cross‑border rocket and drone fire forced evacuations in northern Israeli villages, and U.S. assets and regional bases have been directly targeted. Implications include heightened risks to commercial aviation and energy markets, further regional destabilization as proxy fronts expand, and a reduced diplomatic exit path given Tehran’s stated refusal to negotiate — all of which complicate crisis management for international actors and global supply chains.

Local Coverage: kun.uz, anhor.uz, kun.uz, qalampir.uz, gazeta.uz, anhor.uz

From daily brief: 2026-03-03

8. O‘zbekneftgaz, Citibank Discuss Expanding Financing for Exploration and Strategic Projects

O‘zbekneftgaz JSC and Citibank held talks to broaden financial cooperation beyond Citibank’s role as one of the arrangers on the company’s debut Eurobond issuance in 2021. The meeting reviewed O‘zbekneftgaz’s preliminary 2025 financial results, recent credit‑rating improvements and measures to strengthen financial stability, with discussions focusing on funding for geology and exploration, drilling programmes and other investment projects.

Both parties signalled mutual interest in supporting strategic projects and expanding structured financing or capital‑market transactions, which could increase O‘zbekneftgaz’s liquidity and accelerate upstream activity. For international investors and lenders, the dialogue suggests a growing pipeline of financing opportunities tied to Uzbekistan’s hydrocarbon development and the state firm’s improving credit profile.

Local Coverage: uzdaily.uz

From daily brief: 2026-02-27

9. Flights to Gulf and Israel Suspended with Limited Return Services Authorized

Uzbekistan has suspended air services from all its airports to Saudi Arabia, the UAE, Qatar, Iran, Kuwait and Israel amid escalating Middle East security tensions, allowing only special return flights for passengers who departed before Feb. 28; no end date was given. A NOTAM further restricts carriage of Uzbek and neighboring states’ citizens to Saudi Arabia through March 18. Uzbekistan Airways cancelled several rotations (including HY333/334 Tashkent–Dubai on Mar. 1 and HY301/302 Tashkent–Tel Aviv on Mar. 2), rerouted others (e.g., HY337/338 Tashkent–Jeddah), and is operating repatriation services from Jeddah starting Mar. 2; stranded passengers have been accommodated in hotels and may rebook without fees.

The Foreign Ministry and the Committee on Religious Affairs urged citizens to postpone pilgrimages, business and tourist travel to the region; organized Umrah programs were paused and over 1,000 Uzbek pilgrims in Saudi Arabia are being repatriated. Embassy teams handled consular support in Doha after Qatar’s temporary airspace closure left 48 Uzbek passengers stranded on Feb. 28 and currently maintain a registry of roughly 600 Uzbek nationals in Qatar. The measures underscore broader operational risks for carriers and route planners—thousands of regional cancellations (over 3,400 at seven major airports) and temporary overflight closures are increasing reroutings, fuel costs and schedule uncertainty for Asia–Europe and Gulf corridors.

Local Coverage: gazeta.uz, anhor.uz, kun.uz, qalampir.uz, uzdaily.uz, uza.uz, spot.uz, uz24.uz

From daily briefs: 2026-03-01, 2026-03-02, 2026-03-03, 2026-03-04

10. Reform Plan Targets State Firms and Banks with Governance Overhaul and IPOs

A presidential decree (PQ‑74) issued 25 February 2026 and effective 27 February 2026 imposes stricter corporate‑governance and market‑oriented measures across Uzbekistan’s state‑owned enterprises and commercial banks. Key provisions require supervisory boards at state‑involved firms and banks to be at least 50% independent, mandate modern management and disclosure practices coordinated with the Agency for Strategic Reforms’ Agency for Management of State Assets, and prohibit regulations that allow Fund‑participated companies to retain calculated dividends. Franklin Templeton Asset Management will join as trustee manager of the National Investment Fund (NIF).

The decree accelerates capital‑markets reform by authorizing an IPO of up to 30% of the NIF’s charter capital on domestic and international exchanges by end‑2026, with Cleary Gottlieb Steen & Hamilton LLP and Kosta Legal named as advisers. It also reassigns specific state stakes into the Fund or for transfer—including 60% of Temiryolinfratuzilma JSC (by 1 April 2026), shares in Navoiyzot JSC and Xalq Bank at nominal value, 5% of Uztelecom and 10% of Uzbekinvest to the Fund, and a 10% acquisition of Uzsanoatqurilishbank—while exempting income from these transfers from corporate income tax. For international investors and market participants, the measures signal stronger governance, greater transparency and an accelerated path to public listings, though implementation details and underwriting processes remain limited in the decree.

Local Coverage: norma.uz, uzdaily.uz, kun.uz

From daily briefs: 2026-02-28, 2026-03-02, 2026-03-03

About This Weekly Digest

The stories above represent the most significant developments from Uzbekistan this week, selected through our AI-powered analysis of hundreds of local news articles.

Stories are drawn from our daily intelligence briefs, which synthesize reporting from Uzbekistan's leading news sources to provide comprehensive situational awareness for international decision-makers.