U.S. and Uzbekistan are deepening their economic relations through a new investment agreement. This development aims to enhance collaboration in various sectors, including mining, energy, information technology, agriculture, and artificial intelligence.
Details of the Investment Agreement
On June 9, 2026, a memorandum of understanding was signed in Tashkent. U.S. Assistant Secretary of Commerce David Fogel and Uzbekistan’s Investment Minister Laziz Kudratov formalized the agreement. The memorandum outlines plans to facilitate business delegations and promote investment opportunities.
Focus Areas for Cooperation
- Mining
- Energy
- Information Technology
- Agriculture
- Artificial Intelligence
These sectors represent significant potential for U.S. investment in Uzbekistan. The memorandum emphasizes that the U.S.-Uzbek relationship is shifting towards technology and investment, moving away from traditional commodity trade.
Investment Goals
Uzbekistan is pursuing substantial long-term investments from the U.S. President Shavkat Mirziyoyev previously highlighted an ambitious agenda. The investment plan could be worth up to $100 billion over the next decade.
Building Business Relationships
To increase business-to-business contacts, the U.S. and Uzbekistan are working closely to foster trade and investment. The recent memorandum is seen as a step towards turning intentions into actionable economic partnerships.
American companies are becoming more interested in infrastructure projects in Uzbekistan. The growing engagement aims to create concrete agreements, generate jobs, and develop new economic opportunities in the region.
Meeting with Uzbek Leadership
Before the signing ceremony, David Fogel met with Saida Mirziyoyeva, the chief of staff and daughter of President Mirziyoyev. Saida has expressed optimism regarding the increasing interest in U.S. investment.
Historic Context
This investment agreement aligns with U.S. strategic objectives as discussed during a meeting of Central Asian economic leaders. The meeting, held in February 2026 in Bishkek, Kyrgyzstan, was part of the B5+1 process aimed at enhancing economic cooperation in the region.
In 2025, bilateral trade between the U.S. and Uzbekistan reached approximately $1 billion, reflecting the growing economic ties. The recent memorandum is expected to further strengthen these relations, paving the way for future investments.
