The historic EU–Central Asia Summit, set to take place in Samarkand on April 3–4, 2025, marks a turning point in the region’s economic landscape. Chaired by Uzbekistan’s President Shavkat Mirziyoyev, the event will bring together the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan, alongside European Council President António Costa and European Commission President Ursula von der Leyen. As the geopolitical and economic dynamics of Central Asia shift, this high-level dialogue is expected to unlock new opportunities for economic cooperation between the EU and the region’s fastest-growing economy—Uzbekistan.
From Partnership to Strategic Integration
Uzbekistan’s relationship with the EU has evolved significantly since the country gained independence. What began with a 1996 Partnership and Cooperation Agreement (PCA) has now expanded into a comprehensive economic framework. The introduction of GSP+ status in 2021 further deepened trade ties, offering duty-free access to nearly 6,200 tariff lines and accelerating exports.
Between 2017 and 2024, trade between Uzbekistan and the EU surged 2.4 times, reaching $6.4 billion, with exports increasing 3.6 times to $1.7 billion. The EU now accounts for nearly 10% of Uzbekistan’s foreign trade, positioning it as the country’s third-largest trading partner after China and Russia.
Beyond trade, European investment in Uzbekistan has skyrocketed. In 2024 alone, EU-sourced foreign investment and loans grew by 77% to $4.1 billion, with major contributions from Germany, the Netherlands, and Cyprus. Over 1,000 enterprises with EU capital now operate in Uzbekistan, reinforcing the bloc’s role as a key investor in the country’s modernization efforts.
Strategic Priorities for Economic Expansion
The Samarkand Summit is expected to pave the way for an Enhanced Partnership and Cooperation Agreement (EPCA), which will broaden trade relations and streamline regulatory frameworks. This agreement will likely focus on:
•Industrial integration into EU supply chains, particularly in textiles, renewable energy, pharmaceuticals, and mining.
•Infrastructure investment, with an emphasis on transport corridors, including the Trans-Caspian multimodal route.
•Green economy initiatives, aligning with the EU’s Global Gateway strategy, which aims to mobilize €300 billion for sustainable infrastructure worldwide.
Additionally, Uzbekistan seeks expanded technical assistance from the EU to boost its export certification processes, ensuring compliance with European quality and safety standards. This move is particularly relevant as Uzbekistan progresses toward WTO accession, where EU expertise could provide critical support.
Challenges and Opportunities in a Shifting Geopolitical Landscape
Despite its economic momentum, Uzbekistan faces structural challenges, including logistics bottlenecks and energy transition hurdles. Moreover, Europe’s economic outlook remains uncertain, with the EU navigating inflationary pressures and shifting supply chains. However, as European Council President António Costa recently emphasized:
“In an increasingly fragmented world, the only path forward is deeper cooperation. The first EU–Central Asia Summit will be a defining moment for reinforcing our shared vision for economic security and sustainable growth.”
Against this backdrop, Uzbekistan’s strategic positioning as Central Asia’s economic gateway places it at the heart of new European investment flows. The Samarkand Summit will not only consolidate past gains but also set the stage for a new era of economic diplomacy, solidifying Uzbekistan’s role as a key partner in the EU’s evolving engagement with Central Asia.
