On October 19, Uzbekistan and the United States announced 54 agreements and prospective initiatives worth a combined $12 billion, covering trade, investment, and technological cooperation. The initiatives span industry, transport, energy, critical minerals, finance, digital technologies, agriculture, healthcare, and education.
The agreements were discussed during US Secretary of State Marco Rubio’s visit to Uzbekistan and the second meeting of the US–Uzbekistan Business and Investment Council. The event brought together more than 400 business representatives, including over 100 from the United States, around 100 from other Central Asian countries, and 200 from Uzbekistan.
Railways and aviation
One of the key areas of cooperation involves American company Wabtec. The parties discussed modernizing Uzbekistan’s locomotive fleet, supplying locomotives, and providing long-term maintenance services.
Another potential area of cooperation is the localization of railway equipment and spare-parts production. If these plans move forward, they could expand local maintenance services, create opportunities for domestic manufacturers, and support the training of technical specialists.
In aviation, cooperation with GE Aerospace is also planned. The initiative includes supplying aircraft engines for Uzbekistan Airways and developing programs to train and upgrade the skills of aviation professionals.
Critical minerals
Another important area is the extraction and processing of critical minerals. Projects involving companies such as ReElement Technologies, Traxys, and Trafigura have been discussed as part of the broader cooperation agenda.
For Uzbekistan, the objective is not simply to extract mineral resources but also to develop deeper processing capabilities and establish production chains for higher-value, technology-intensive products.
Such an approach could help create new industrial sectors, facilitate the adoption of advanced processing technologies, and increase the value of exported goods. President Shavkat Mirziyoyev has also highlighted the development and deeper processing of critical minerals among the priority areas for cooperation with the United States.
Finance
Financial cooperation involves international firms such as Franklin Templeton, Oppenheimer & Co., Citigroup, and BlackRock. The broader objective is to help Uzbek companies access international capital markets, attract institutional investors, and expand financing opportunities for infrastructure projects.
Access to international capital markets can enable large companies to raise funds through shares and other financial instruments. However, achieving this requires transparent financial reporting, strong corporate governance, and investor confidence.
The actual impact of these initiatives will depend on which companies enter international markets and which financing mechanisms are ultimately implemented.
Amazon Leo
Cooperation with Amazon Leo is another initiative in the digital technology sector. Satellite internet could be particularly valuable in areas where conventional telecommunications infrastructure is difficult or expensive to develop. This includes remote villages and mountainous regions, where improved connectivity could expand access to digital services.
UZ-SAT, a company associated with Uzbekistan’s telecommunications sector, has previously been identified as a local partner for Amazon’s satellite connectivity initiative. This partnership could provide a foundation for expanding satellite-based communication services in the country.
Agriculture and healthcare
The agreements also cover agricultural productivity and the introduction of modern healthcare technologies. Cooperation with Valmont Industries focuses on irrigation systems and technologies for more efficient water use. Given Uzbekistan’s water constraints, such solutions could help improve irrigation management and agricultural efficiency.
Meanwhile, cooperation with GE HealthCare is aimed at introducing modern medical equipment and healthcare technologies. The results in both sectors will depend on the practical deployment of new technologies, the training of local specialists, and the availability of maintenance and technical support.
The Uzbek government plans to further develop an investment approach based on the “plug-and-play” principle, aimed at making it easier for American companies to launch projects. The concept involves providing investors with prepared infrastructure, necessary permits, and the documentation required to implement projects.
The broader vision is to move beyond individual agreements and develop new industrial sectors, joint production clusters, and research centers. The parties are also considering the development of a cooperation program extending through 2035, covering trade, investment, and technology.
An important distinction must be made: the $12 billion represents the announced combined value of 54 agreements and prospective initiatives. It does not mean that the entire amount has already been invested in Uzbekistan.
The publicly available information does not provide complete details on financing sources, implementation schedules, or the individual value of every agreement.
Consequently, assessing the package’s actual economic impact will require monitoring whether the initiatives progress to implementation, whether the financing is secured, and whether the planned production facilities and other projects become operational.
The new agreements between Uzbekistan and the United States aim to expand cooperation across a wide range of sectors, from transport, manufacturing, and finance to digital technologies and critical-minineral processing.
Their long-term economic impact will depend on how many of the announced initiatives translate into actual investment, new production capacity, technology transfer, and sustainable economic growth.
