Kuwait, Uzbekistan strengthen ties with 4 new agreements as bilateral trade grows 23-fold since 2017

Kuwait and Uzbekistan are strengthening their bilateral relations, as evidenced by the significant talks between the Emir of Kuwait and the President of Uzbekistan, Shavkat Mirziyoyev, culminating in the signing of four cooperation agreements. This meeting marks a new stage in cooperation between the two countries across various sectors, paving the way for deeper engagement.

The Emir of Kuwait, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, along with the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah, welcomed the President of Uzbekistan, Shavkat Mirziyoyev, and his delegation at the international airport. The welcoming party also included Sheikh Mubarak Al-Humoud Al-Jaber Al-Sabah, Commander of the Kuwait National Guard, Acting Prime Minister and Minister of Interior Sheikh Fahad Yusuf Saud Al-Sabah, and other high-ranking officials, such as Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah, Advisor at the Emiri Diwan, Minister of State for Cabinet Affairs Sharida Al-Musherji, and Minister of Foreign Affairs Abdullah Al-Yahya.

According to the Kuwait News Agency (KUNA), the Kuwaiti delegation was led by Mohammad Abulhasan, Advisor at the Emiri Diwan. At Bayan Palace, Emir Sheikh Mishal held official talks with President Mirziyoyev. KUNA reported that senior officials from both Kuwait and Uzbekistan attended the talks, which focused on strengthening bilateral relations, expanding cooperation, and addressing issues of mutual concern. Sheikh Mohammad Abdullah Al-Sabah, Minister of Amiri Diwan Affairs, emphasized the importance of strengthening ties across all fields, reflecting the comprehensive nature of the discussions.

During the visit, Emir Sheikh Mishal and President Mirziyoyev oversaw the signing of four significant agreements at Bayan Palace. Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah and Acting Prime Minister and Minister of Interior Sheikh Fahad Yusuf Saud Al-Sabah were also present at the signing ceremony. These agreements cover several key areas, including labor force, air cargo, smart cities, and industry, demonstrating a broad commitment to collaboration.

The first agreement, aimed at strengthening private sector labor force cooperation, was signed by Acting Prime Minister Sheikh Fahad Yusuf and Uzbek Foreign Minister Bakhtiyor Saidov. The second agreement involved a protocol amending the existing agreement on air cargo cooperation, signed by Kuwaiti Foreign Minister Abdullah Al-Yahya and Uzbek Foreign Minister Saidov. The third agreement focused on promoting cooperation in the field of smart cities and was signed by Minister of State for Municipal Affairs and Minister of State for Housing Affairs Abdulrahman Al-Mutawa and Uzbek Foreign Minister Saidov. The fourth agreement centered on industrial cooperation and was signed by Kuwaiti Minister of Commerce and Industry Abdullah Al-Salman and Uzbek Minister of Investment, Industry and Trade Laziz Kudratov.

In recent years, the bilateral trade volume between Kuwait and Uzbekistan has seen significant growth, indicating strengthening economic ties between the two nations. From 2017 to 2024, the trade volume increased 23-fold, from approximately $289,000 to $6.8 million. The majority of this trade volume comes from Uzbekistan's exports, totaling $6.6 million, while Kuwait's imports amounted to approximately $158,000. In 2023, Uzbekistan exported goods worth $2.75 million to Kuwait, primarily including refined petroleum, copper wire, and grapes. In comparison, Kuwait's exports to Uzbekistan totaled $36,500, mainly consisting of measuring instruments and parts for tools. As of the end of 2024, there are 7 Kuwaiti-capitalized enterprises registered in Uzbekistan, with Kuwait's total foreign direct investment and loans to Uzbekistan reaching $12.6 million. The two countries are also exploring potential cooperation opportunities in sectors such as energy, agriculture, tourism, and Islamic banking, which Kuwaiti investors view as promising. Overall, the bilateral trade relationship between Kuwait and Uzbekistan is developing, with significant potential for further growth and collaboration in various fields.