On August 18, the President of the Republic of Uzbekistan Shavkat Mirziyoyev received the President of the Islamic Development Bank (IDB) as part of a state visit to Saudi Arabia Muhammad bin Sulayman Al Jassir.

Experts from the Institute for Forecasting and Macroeconomic Research (IPMI) assessed the level of diversification of the republic’s industrial exports. Export diversification involves increasing the number of exported goods and achieving a balanced export structure.

Shavkat Mirziyoyev got acquainted with the results of work on the diversification of transport corridors from Uzbekistan. Since the beginning of the year, the volume of exports has reached $8.2 billion, showing an increase of 1.3 times compared to last year. Uzbek companies have launched the supply of products to 32 new markets, the presentation noted.

On August 3 this year, the Forum of Heads of Regions of the Shanghai Cooperation Organization (SCO) countries began its work in Tashkent. The event is held within the framework of the chairmanship of Uzbekistan in the organization and is intended to become a permanent dialogue platform for deepening interregional cooperation in a number of priority areas.

In January-June 2022, the volume of imports to Uzbekistan increased by 27.4% compared to the corresponding period last year. According to the State Statistics Committee, in the first half of the year, the country imported $14.560 billion worth of goods and services.

A consortium of international banks, including JPMorgan Chase, Citi, Societe Generale and Credit Suisse, provided NMMC with a $1.2 billion loan to implement the investment program.