Uzbekistan - Latest News/Current Events, Economic Overview & Trade Relations
Quick Facts about Uzbekistan
| Official Name | Republic of Uzbekistan |
| Capital | Tashkent (Toshkent) |
| Location | Central Asia, north of Afghanistan |
| Area | total: 447,400 sq km land: 425,400 sq km water: 22,000 sq km |
| Climate | mostly midlatitude desert, long, hot summers, mild winters; semiarid grassland in east |
| Terrain | mostly flat-to-rolling sandy desert with dunes; broad, flat intensely irrigated river valleys along course of Amu Darya, Syr Darya (Sirdaryo), and Zarafshon; Fergana Valley in east surrounded by mountainous Tajikistan and Kyrgyzstan; shrinking Aral Sea in west |
Editor PicksBrowse Asia News Archive
Auto Exports to Russia Stall
Uzbekistan's auto exports to Russia is falling.
Uzbekistan's auto exports to Russia is falling. In January, the Uzbekistan based Daewoo automaker only exported 935 vehicles to Russian dealers, a 86 percent drop compared to the previous month's total. February figures are likely to show a huge decline in sales to continue. The car sale sector in Uzbekistan has been on a precipitous slope since the global financial crisis. Approximately 15,000 vehicles have been returned to the car plant during the last quarter of 2008. The car plant is said to employ more than 5,000 people. The decline in sales is still happening despite Uzbek government efforts to keep the auto industry alive. Recently, the government established a $25 million credit line to five Russian distributors of Uzbek vehicles.read source article
Sasol, Petronas Studying Fuels Plant in Uzbekistan
South Africa's world's biggest producer of motor fuels from coal, Sasol LTD., and Malaysia's Petroliam Nasional Bhd., are currently under talks to potentially study a gas-to-fuel plant in Uzbekistan that might be supersede Sasol's Qatar facility.
South Africa's world's biggest producer of motor fuels from coal, Sasol LTD., and Malaysia's Petroliam Nasional Bhd., are currently under talks to potentially study a gas-to-fuel plant in Uzbekistan that might be supersede Sasol's Qatar facility. The plant could potentially produce 40,000 barrels a day, whilst the Qatar plant only has the capacity to produce 34,000 barrels per day. Petronas plans to invest more than $750 million in oil and gas projects in Uzbekistan if the study ends up with results.Gazprom Comes up Dry on Exploration Attempts
Gazprom, the largest natural gas extractor and largest Russian company, has handed back exploration licenses for three hydrocarbon deposits in northern Uzbekistan
Gazprom, the largest natural gas extractor and largest Russian company, has handed back exploration licenses for three hydrocarbon deposits in northern Uzbekistan. The explorations led to disappointing results with no commercial use. A outside source stated that the hand-back is an indication of the Russian company taking measures to reduce its investment program. However, the hand back licenses are now expected to be taken over by Malaysia's Petronas. Gazprom though will continue to explore in other areas of Uzbekistan.read source article
Electricity Rationing Eased In Tajikistan
Recent reports had stated that due to Uzbekistan stopping delivery of electricity to Tajikstan, the country has recently been rationing electricity.
Recent reports had stated that due to Uzbekistan stopping delivery of electricity to Tajikstan, the country has recently been rationing electricity. But, reports have now stated that electricity rationing has been eased in Tajikistan. Nozirjon Yodjori, spokesperson for Tajikistan's major electricity provider, told reporters that electricity rationing has been abandoned in the capital and eased elsewhere in the country's province. According to the same spokesperson, Uzbekistan and Turkmenistan have resumed supplying electricity to Tajikistan.Uzbekistan To Halve Energy Supply To Tajikistan - Gas Company
DUSHANBE, Tajikistan (AFP)--Uzbekistan will halve its supply of natural gas to neighboring Tajikistan next week because of unpaid debts, Tajik state gas company Tajiktransgaz said Thursday.
DUSHANBE, Tajikistan (AFP)--Uzbekistan will halve its supply of natural gas to neighboring Tajikistan next week because of unpaid debts, Tajik state gas company Tajiktransgaz said Thursday. "The principal cause is increasing debt for received gas which is already $18 million. Part of the debt - $8 million - is from the first month of this year of year," a company spokesman told AFP. "Within a week Uzbekistan will gradually reduce gas deliveries. If in the beginning of the week Tajikistan received 45,000 cubic meters a day, from now on, only 20,000 cubic meters", he said. An impoverished central Asian state with a population of 7.5 million, Tajikistan is caught in an energy crisis.read source article
Uzbekistan And Russia Strengthen Energy Ties
Energy ties between Uzbekistan and Russia were strengthened Friday, with the former pledging to support a new trans-Russian gas pipeline, and enhance its natural gas export to Russia.
Energy ties between Uzbekistan and Russia were strengthened Friday, with the former pledging to support a new trans-Russian gas pipeline, and enhance its natural gas export to Russia. President Islam Karimov of Uzbekistan told reporters that Uzbekistan has offered to sell 16 billion cubic meters of gas to Russia this year and could double that amount within the next decade. Uzbekistan's continued export of gas to Russia was crucial, as the European Union wants Central Asia to feed its Nabucco pipeline project, bypassing Russia due to a dispute between Russia and Ukraine over gas pricing contract which led to a two-week fuel crisis in other parts of Europe earlier this month.Browse Asia News Archive
Trade Agreements
CISFTA – Commonwealth of Independent States FTA
Belarus
Georgia
Moldova, Republic Of
UkraineNever fully implemented by all members, although Free Trade Area was created in 1999; future prospects unclear. http://www.worldtradelaw.net/fta/agreements/cisfta.pdf
Eurasian Economic Community Customs Union
The EAEC attempts substantial integration in post-soviet nations. It arose out of the CIS customs union as all the members were CIS members. The agreement strives to create a common market, customs union, standardized currency exchange, develop programs for social and economic development, a general energy market and several equal rights for citizens, including health care. The EAEC consists of an intergovernmental council, Secretariat, Commission of the Permanent Representatives, Interstate parliamentary assembly, Law Court, and Integration Committee. http://secretariat.efta.int/Web/ExternalRelations/PartnerCountries/Singapore
Kyrgyzstan – Uzbekistan Free Trade Agreement
US – Central Asian TIFA
The US-Central Asian TIFA will allow member countries to address trade issues and promote US trade and investment to Central Asia. It will open up a market of 55.9 million consumers to the United States. A Council was created with the agreement to promote an ongoing dialogue and open forum for countries improve trade relations. http://www.ustr.gov/assets/Trade_Agreements/TIFA/asset_upload_file683_7722.pdf
Trade Organizations
Economic Cooperation Organization (ECO)
The Economic Cooperation Organization (ECO) is an intergovernmental international organization involving ten Asian nations. It provides a platform to discuss ways to improve development and promote trade, and investment opportunities. The nations involved are Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan. The common objective is to establish a single market for goods and services, much like the European Union. ECO's secretariat and cultural department are located in Tehran, its economic bureau is in Turkey and its scientific bureau is situated in Pakistan.
Eurasian Economic Community (EuAsEC or EAEC)
The Eurasian Economic Community (EuAsEC or EAEC) is an intergovernmental organization of 6 nations and is also part of the CIS Customs Union. All members are also members of the older Commonwealth of Independent States.