Representatives of the Embassy of Uzbekistan participated in the international economic summit 'Western Black Sea,' organized by the ULUSKON association and the Chamber of Commerce and Industry of the Turkish province of Kastamonu (KATSO), according to Dunyo Information Agency.
During the summit, the Uzbek delegation demonstrated the country's trade, economic, and investment potential. Current economic reforms, conditions created for foreign investors, and opportunities for joint projects in promising sectors of the economy were discussed in detail.
In a meeting with the management of the Kastamonu Chamber of Commerce and Industry, the parties discussed expanding industrial cooperation in the fields of furniture, doors, and wooden products. The organization of joint production of semi-finished goods and strengthening direct ties between enterprises in Uzbekistan and Turkey were also discussed. Within the framework of these negotiations, contacts were established with Turkish companies Gülcan Mobilya, Dortek, and Zintaş.
During the visit, embassy representatives visited the production facilities of the company Miskos. The Turkish side expressed interest in entering the Uzbek market, promoting its products through the country's major retail chains, and establishing direct cooperation with local partners. Furthermore, the parties discussed the possibility of holding B2B meetings involving Uzbek trading companies concurrently with the international food exhibition F-Istanbul.
Particular attention was paid to developing interregional cooperation during the meeting with Kastamonu Governor Hasan Baltadji. The parties reviewed prospects for interaction in industrial partnership—primarily in the production of furniture, doors, and wooden products—as well as in areas such as education, mining, healthcare, and sports tourism.
Following the negotiations, an agreement was reached to facilitate mutual visits of business delegations, expand direct contacts between entrepreneurs, encourage student exchange programs, and study the possibility of creating a partnership between Kastamonu Province and a region of Uzbekistan with similar economic potential.
According to Dunyo news agency, the Ambassador of Uzbekistan Oibek Shahavdinov met with the Deputy Prime Minister of Montenegro for Foreign and European Affairs, Filip Ivanovic.
The parties discussed the further development of political dialogue while simultaneously expanding cooperation in the fields of trade, economy, investment, and tourism.
One of the central issues was the creation of an Intergovernmental Commission. Furthermore, possibilities for strengthening direct interaction between business representatives and implementing joint projects in areas such as agriculture, pharmaceuticals, healthcare, information technology, and digitalization were discussed.
Special attention was paid to improving the legal framework and expanding partnership in the fields of labor migration, education, science, culture, and vocational training.
Participants also spoke about the need to develop transport links between the two countries and increase mutual tourist flows. At the end of the meeting, Uzbekistan and Montenegro confirmed their readiness to continue working on specific initiatives aimed at strengthening mutually beneficial partnership.
According to the three-year Fiscal Strategy, Uzbekistan aims to achieve an average annual growth in industrial production of at least 6.5–7% between 2027 and 2029. This growth will be ensured by implementing large-scale investment projects in sectors such as metallurgy, automotive manufacturing, electrical engineering, and power generation.
Five major projects totaling $1.2 billion USD are planned in the metallurgy sector for implementation at the Navoi Mining and Metallurgical Combine over the next three years. Additionally, four projects valued at $2.5 billion are provided for the Almalyk Mining and Metallurgical Complex.
The automotive industry is expected to increase light vehicle output by 1.5 times, reaching 700,000 units annually. Regarding the electrical engineering sector, it is planned to create 121 new high-tech production facilities with a total cost of $3.3 billion USD. As a result of this development, copper processing volume will increase by 1.3 times, exceeding 145,000 tons, and electric product output will increase by 1.4 times, while the added value share of the sector will rise from 21% to 30%.
In the power generation field, an additional capacity of 11.7 GW is planned to be commissioned by 2028. This capacity includes 5.4 GW of wind and 2 GW of solar power plants, as well as 3.7 GW of modern thermal power plants and energy storage systems with a capacity of 560 MW. Electricity generation is projected to reach 108.5 billion kWh. In addition to industry, market services are expected to grow annually by 14.3–15%, becoming a key driver of economic growth alongside industry, which is forecast at 6.9–7.4% in 2027–2029.
