Fuat Bakhtiyorov
Uzbekistan is entering a period in which domestic transformation is becoming increasingly interconnected with global economic processes. The country has set ambitious goals: accelerating economic growth, advancing the technological modernization of industry, attracting large-scale investment, expanding exports and integrating into international value chains.
This is precisely why discussions within the G20 have practical relevance for Uzbekistan. The issues addressed by the Group of Twenty — sustainable development, industrialization, the energy transition, trade, digitalization, food security, access to capital and the modernization of financial institutions — largely align with the challenges facing the country. The difference lies mainly in scale: while the G20 shapes the key priorities of the global economy, Uzbekistan translates similar objectives into a concrete national development agenda.
Investment: A focus on trust and long-term capital
The global investment landscape is changing. Capital is becoming increasingly selective, while investors are paying greater attention not only to market size and natural resources, but also to the quality of institutions, regulatory predictability, the protection of business rights, access to infrastructure and the clarity of the legal environment.
Industry: Transitioning to a more sophisticated economy
One of the central themes of the G20 agenda is the development of a new generation of industry. This extends beyond increasing production volumes to encompass technological modernization, resilient supply chains, localization, advanced processing, innovation and the creation of high-skilled jobs.
Over the coming years, Uzbekistan aims to increase industrial value added from $36.5bn to at least $60bn, while expanding output in high-technology and medium-high-technology industries by a factor of 2.5.
In 2026, the country plans to launch 782 new industrial and infrastructure projects with a combined value of $52bn.
Trade: Connectivity as a Driver of Competitiveness
The relevance of the G20 is particularly evident in the area of trade. The world’s largest economies already occupy a prominent place in Uzbekistan’s external economic relations.
Between January and May 2026, Uzbekistan’s foreign trade turnover reached $32.8bn. Its key trading partners include China, Russia, Kazakhstan, Türkiye, France, the Republic of Korea and Germany. Most of these countries are either G20 members or are closely integrated into its broader economic architecture.
WTO: Rules, trust and market access
Uzbekistan’s accession to the World Trade Organization is now approaching its final stage. This is no longer merely a technical process, but one of the key components of the country’s economic transformation toward a more open, predictable and competitive model of development.
The new economy: Global trends and Uzbekistan’s development path
The global economy is undergoing profound structural transformation. Supply chains are being reshaped, competition for capital and technology is intensifying, and the importance of energy resilience, food security, digital infrastructure and industrial capabilities continues to grow. These are precisely the issues at the heart of the G20 agenda.
Strategic priorities for growth: Capital, technology and exports
From the perspective of investment, industry and trade, the G20 agenda highlights several strategic priorities for Uzbekistan. The first is capital. The second priority is industry. The third priority is trade and connectivity. The fourth priority is partnerships.
Uzbekistan and the G20: Shared priorities, practical outcomes
For Uzbekistan, the G20 reflects the global processes that are becoming increasingly intertwined with the country’s own development trajectory. While the G20 focuses on sustainable growth, Uzbekistan is implementing large-scale economic reforms. The greatest value of the G20 agenda for Uzbekistan lies in the convergence of strategic priorities.
The views expressed in this article are the author’s own and do not necessarily reflect The Peninsula’s editorial policy.
