Uzbekistan and France to launch €6.5 bln projects

From March 11 to 13, President Shavkat Mirziyoyev paid a state visit to France, where he and the Uzbek delegation received a warm welcome. The negotiations were productive, resulting in the signing of numerous documents. A historic decision was made to elevate Uzbek-French relations to a strategic partnership.

Being a strategic partner with an economically strong country like France, the world's 7th largest economy and the 3rd largest in the European Union by GDP, reflects mutual trust and respect between the two nations. 

Trade and economics rely on precise figures, so let's focus on key numbers. France has a GDP exceeding 3 trillion euros, with its main sectors being services, industry, and agriculture. The country has a population of over 68 million, and its GDP per capita is $46,300. France plays a leading role in several industries, contributing 2.7% to global mechanical engineering and ranking 4th in chemical exports. Its aerospace and automotive industries are well developed, and it is the world's 2nd largest exporter of food products after the United States. 

France is also a global leader in nuclear energy, with 64.2% of its electricity produced by 57 nuclear power plants. Tourism is another major sector, making France the most visited country in the world. Last year, 100 million tourists visited France, generating $74 billion in revenue, while 40 million people visited the Eiffel Tower alone to admire beauty and architecture of Paris. Tourism contributes nearly 10% to the country’s GDP. In total, France’s foreign trade reached $1.953 trillion last year. 

In 2024, trade between Uzbekistan and France reached 1.1 billion US dollars, marking a 14% increase from the previous year. Uzbek exports to France nearly doubled, reaching 800 million dollars, while imports amounted to 330 million dollars. Currently, more than 50 French companies operate in Uzbekistan, including major firms like Orano, Suez, Total Energies, and IDF. These companies have introduced not only their energy resources but also advanced expertise and high technologies in energy, infrastructure, environmental protection, security, self-defense capabilities, production, and tourism. The total French investment potential in Uzbekistan now exceeds 1 billion dollars.

During his state visit to Paris, President of Uzbekistan Shavkat Mirziyoyev met with the heads of leading French companies and investment banks. The meeting was open, sincere, and constructive. Unlike previous meetings, the heads of private companies from Uzbekistan were also invited. 

The President emphasized the importance of strengthening trade and economic ties with France. He highlighted that using advanced French technologies and experience would benefit Uzbekistan. As part of this collaboration, an innovative and industrial cooperation program will be implemented with French companies until 2027, covering projects worth a total of 6.5 billion euros. Leading French banks and financial institutions will actively participate in these projects. 

Shavkat Mirziyoyev proposed establishing an Uzbek-French Investment Council to support joint projects. The council’s first meeting will be held in June this year during the Tashkent Investment Forum. 

- From our side, it will be chaired by the Prime Minister of Uzbekistan. We can hold the first meeting in June as part of the Tashkent International Investment Forum. I invite all of you to actively participate as full members of the newly formed council, - said the President. 

In response, representatives of French business circles shared their views on expanding cooperation.

During the meeting, President Mirziyoyev focused on every detail and instructed the ministers to thoroughly examine and oversee each project.