(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, November 12. President of Uzbekistan, Shavkat Mirziyoyev, has signed an order establishing the U.S.-Uzbekistan Business and Investment Council, Trend reports via the press service of the Uzbek president.

The Council will serve as a new platform to strengthen the strategic economic partnership between Uzbekistan and the United States.

The agreement to create the Council was reached during President Mirziyoyev's official visit to the United States from November 4–6, 2025, as part of the“C5+1” Summit. The Council will be co-chaired by the Head of the Presidential Administration of Uzbekistan and a U.S. presidential representative, appointed by agreement with the American side.

The decree defines the Council's key areas of activity, including:

• Coordination of major investment and trade projects;

• Creation of a dedicated investment fund with participation from the U.S. Development Finance Corporation (DFC), as well as leading international financial institutions such as the EBRD, IFC, and ADB. This fund will finance infrastructure and strategic projects while helping to share investment risks.

• Promotion of Uzbekistan's export potential, particularly in the IT services sector;

• Continuation of negotiations on tariff reductions;

• Development of proposals to diversify Uzbekistan's investment portfolio, including the potential use of part of the Central Bank's foreign currency reserves.

To strengthen coordination with American partners, a Counselor-Envoy position, a representative of the Presidential Administration, will be established within the Embassy of Uzbekistan in the U.S. from January 1, 2026. This official will oversee the implementation of major investment projects and coordinate the work of the Council.

In the interim, by the conclusion of 2024, the bilateral trade dynamics between Uzbekistan and the United States experienced a robust uptick of 15 percent, culminating in a trade turnover of $881.7 million. Concurrently, the influx of U.S. direct investment into Uzbekistan aggregated to a substantial $612.6 million. At present, over 300 entities with American investment are functioning within the national landscape, comprising 167 that are wholly owned by U.S. stakeholders.

MENAFN12112025000187011040ID1110330816