Sunday 15 / November / 2026
Muscat: The sixth session of the Joint Committee for Economic and Trade Cooperation between the Sultanate of Oman and the Republic of Uzbekistan was held in Muscat on Sunday. The session was jointly chaired to strengthen economic, trade and investment relations and to expand joint cooperation in priority sectors.
The Omani side was led by Anwar bin Hilal Al Jabri, Minister of Commerce, Industry and Investment Promotion, while the Uzbek side was led by Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, with the participation of officials and representatives of the relevant government bodies in both countries.
The Committee explored ways of developing trade exchange, facilitating access for products to the markets of both countries, enhancing joint investments, developing industrial and logistical cooperation, and reviewing the opportunities available in economic and free zones, renewable energy, manufacturing industries, food security, tourism, education and scientific research.
In his opening address, Anwar bin Hilal Al Jabri, Minister of Commerce, Industry and Investment Promotion, affirmed that the convening of the sixth session comes as an extension of the growing bilateral relations between the Sultanate of Oman and the Republic of Uzbekistan, which enjoy the support and attention of the leaderships of both countries. He noted the importance of building on the outcomes of the fifth session, held in the Uzbek capital, Tashkent, in June 2025, and of translating joint understandings into implementable economic and investment projects.
He explained that the Sultanate of Oman, under the wise leadership of His Majesty Sultan Haitham bin Tarik, is moving forward in implementing the objectives of Oman Vision 2040 through diversifying the economic base, enhancing the role of the private sector, and attracting quality investments. He affirmed that the integration of Uzbekistan's industrial capabilities with the logistical and investment advantages enjoyed by the Sultanate of Oman offers lucrative opportunities to expand industrial and trade cooperation and to reach new markets.
He noted the importance of moving forward with the preferential trade agreement, developing cooperation in the fields of standards, metrology and conformity assessment, encouraging joint investments in the pharmaceutical industries, electrical equipment, aluminium, and automotive components, benefiting from the ports and economic and free zones in the Sultanate of Oman, and enhancing the role of the private sector in establishing sustainable economic partnerships.
Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, affirmed that relations between his country and the Sultanate of Oman are entering a new phase of strategic partnership, thanks to the sound vision of the leaderships of the two countries. He noted that the talks held in Muscat at the end of last September laid a solid foundation for today's meeting, which coincides with the state visit to be undertaken by the President of the Republic of Uzbekistan to the Sultanate of Oman on Monday.
He added that the volume of trade exchange between the two countries reached about $2.3 million in 2025, and rose by more than 70 percent between January and September of the current year to reach $3.3 million, affirming that these figures remain below the true potential of the two economies and that bridging this gap represents the main task before the discussions.
He explained that the Uzbek side conducted an analysis of Omani imports and identified the sectors in which Uzbek products enjoy high competitive advantage, including food products, fruits and vegetables, copper, aluminium, textiles, electrical and household appliances, and chemical products, while Uzbekistan is interested in expanding its imports of Omani products, particularly sugar, polymers, petroleum products, lubricants and aluminium products.
He noted that the two sides agreed on the terms of reference for the preferential trade agreement, the signing of which will pave the way for the start of negotiations on lists of goods, customs preferences, and rules of origin, proposing that the first round of negotiations be held in December 2026, with the preferential treatment applied to 200 tariff lines.
He said the two countries have set their sights on raising the volume of bilateral trade to $500 million in the coming years and on forming a working team to prepare a joint action programme and review its implementation on a quarterly basis.
In the field of investment cooperation, he noted that the Oman Investment Authority is achieving outstanding performance with a portfolio of $510 million, that 12 joint projects have been completed while 16 others are under implementation, He welcomed the initiative to double the authorised capital of the Uzbek-Omani Investment Company to reach $500 million.
Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, explained that about 30 new documents have been prepared for signing during the anticipated high-level visit, covering projects and contracts with a total value of about $5 billion.
The session's proceedings reviewed the latest developments regarding the proposed preferential trade agreement between the two countries and the completion of the technical and legal procedures necessary to proceed with negotiations on it, contributing to facilitating trade movement, reducing its costs and expanding the range of exchanged products.
The two sides also discussed opportunities for cooperation in value-added industrial sectors, including electrical, chemical, pharmaceutical and automotive component industries, the development of joint projects in economic and free zones, and benefiting from the opportunities available in the minerals, renewable energy and food industries sectors, with a focus on technology transfer and enhancing integration between production and supply chains.
In the field of transport and logistics, the Committee reviewed opportunities to benefit from investments in the logistics sector in the Republic of Uzbekistan and to develop logistics stations in Uzbekistan, in order to develop trade corridors linking the markets of Central Asia with Omani ports, enhance shipping, storage and re-export services to the markets of the Gulf and East Africa, and benefit from the direct flights between Muscat and Tashkent that began in July 2026.
The discussions addressed the role of the Uzbek-Oman Investment Company, founded in 2010, in which the Oman Investment Authority holds 75 percent of the shares and whose assets amount to approximately OMR107.8 million, and examined opportunities to expand its investments and develop joint projects in priority sectors.
The Committee also discussed enhancing communication between the two business communities, encouraging the participation of small and medium enterprises and entrepreneurs in commercial and investment opportunities, and the importance of the Oman-Uzbek Business Forum and the "Made in Uzbekistan" exhibition in introducing products and investment opportunities and establishing direct partnerships between companies.
At the conclusion of the session's proceedings, Anwar bin Hilal Al Jabri, Minister of Commerce, Industry and Investment Promotion and Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, signed the minutes of the sixth session of the Joint Committee for Economic and Trade Cooperation between the two countries, which includes the outcomes of the discussions, the priority areas of cooperation, and the mechanisms for following up on the implementation of what was agreed, contributing to transforming joint understandings into practical projects and initiatives that strengthen economic, trade and investment relations.
The convening of the sixth session comes within the framework of the keenness of the Sultanate of Oman and the Republic of Uzbekistan to develop their economic partnership and build on the outcomes of previous bilateral meetings, enhancing complementarity between the economic components of the two countries and opening new horizons for trade, industrial and investment cooperation.
The Ministry of Commerce, Industry and Investment Promotion continues its efforts to strengthen international economic partnerships, expand the presence of Omani products in foreign markets, attract quality investments, and develop cooperation with promising markets in Central Asia, in support of the competitiveness of the national economy and in contribution to achieving the objectives of Oman Vision 2040.
