Uzbekistan, Singapore Explore Strategic Partnership Program

Uzbekistan and Singapore are in discussions to establish a joint medium-term Strategic and Innovation Partnership Program, focusing on key areas such as trade, investment, technology transfer, and the modernization of public administration. The program also aims to enhance human capital development and digitalization efforts within Uzbekistan.

This initiative was a central topic during talks in Tashkent between Uzbekistan's President Shavkat Mirziyoyev and a Singaporean delegation led by Senior Minister Lee Hsien Loong. The two nations noted a significant increase in bilateral trade turnover and the number of joint ventures, with Singaporean investments in Uzbekistan reportedly reaching approximately $2 billion.

Discussions also covered the application of Singapore's successful models in developing special economic zones, the Tashkent International Financial Center, and digital banking within Uzbekistan. The recent accession of Uzbekistan to the Singapore Convention on Mediation, a UN treaty promoting the enforcement of commercial settlement agreements across borders, was positively received by both sides.

Lee Hsien Loong's visit, from August 27 to 31, marks his first trip to Central Asia. The delegation is also scheduled to visit Samarkand and Lee is expected to address the Senate. This follows Mirziyoyev's state visit to Singapore in January 2023, where five key cooperation areas were identified, including human capital development, privatization processes, green technologies, urban infrastructure, and investment support. An Uzbek-Singapore Investment Company with a $500 million authorized capital was also agreed upon during that visit.