Historically strong ties between Uzbekistan and Italy dating back to the Great Silk Road are experiencing a new round of development.

The visit of the President of Uzbekistan to Italy on 7-9 June this year firmly strengthened the foundations of mutually beneficial cooperation approved by the institutional framework, including intergovernmental working groups and chambers of commerce. Talks between the President of Uzbekistan Shavkat Mirziyoyev and the President of Italy Sergio Mattarella in Rome attach particular importance to international and regional interaction, especially in ensuring peace, security, and stability.

Italy is actively promoting its Eastern Partnership Strategy for Central Asia, engaging with the region through diplomatic channels in the “1+5” format meetings to fulfill socio-economic and cultural commitments.

Prime Minister Giorgia Meloni launched the Italy – Central Asia Cooperation Initiative, reflecting the strategic importance of this part of the region.

Following Shavkat Mirziyoyev’s visit to Italy, 11 interstate, intergovernmental, and interdepartmental documents were signed, covering various areas such as economy, education, tourism, and culture.

Trade, economic, and investment ties are central to Uzbekistan’s relations with Italy. Today, there are all the necessary legal and institutional foundations for this: the bilateral legal framework includes several vital agreements in the economic sphere.

A significant increase in mutual trade turnover, the number of joint ventures, and the signing of agreements worth 9 million euros ensured an effective partnership between all parties.

Economic and investment ties have strengthened, supported by legal reform and institutional development. Italy has emerged as an attractive market for Uzbek exporters specializing in the textile industry.

Imports from Italy have long played an essential role in the technological modernization of Uzbek industry. Companies in this country have invested in various sectors of the Uzbekistan economy and contributed to the transition to green energy.

It should be emphasized that the Presidents of both countries signed a Declaration on the Establishment of Strategic Partnership Relations and 11 documents to strengthen mutual assistance in various fields.

Research shows that benefits from joint projects, including employment programs, environmental research, cultural education, and tourism, drive growth in many of Uzbekistan’s economic sectors.

Uzbekistan is recognized as a key strategic bridge between Europe and Asia, with enormous potential. Over the past three years, Italian investment has shown significant growth.

Between 2018 and 2022, the annual agricultural trade volume between Uzbekistan and Italy amounted to $253 million, increasing by 2.2 percent yearly.

Mutual trade ties facilitate Uzbekistan’s exports of knitted fabrics and clothing to Italy, while Italy imports machinery, industrial goods, and pharmaceutical products to Uzbekistan. Experts suggest that trade turnover could increase to $1 billion in the next five years.

To date, trade turnover between both countries has grown by 32 percent and reached 535.4 million euros, making Italy the third major European trading partner for Uzbekistan.

Having great potential in bio- and nanotechnology and natural resource management, Italy has expressed its readiness to share its developments in the oil industry with Uzbekistan.

Italian companies identified the textile industry, production of building materials, metallurgy, chemical and automotive industries, electronics, agriculture, and agricultural processing as the most promising areas for building long-term and mutually beneficial cooperation.

The signing of the investment and trade package was greeted with enthusiasm by both the Uzbek and Italian people, indicating real progress in implementing investment initiatives and strengthening economic relations between the countries.

All this indicates a significant intensification of bilateral cooperation and filling the agenda of relations between Uzbekistan and Italy with practical, high-quality content and the full use of the potential of international organizations to resolve pressing issues of sustainable development of Uzbekistan.

The visit of President Sergio Mattarella to Uzbekistan will outline prospects for further strengthening and enhancing mutual diplomatic, economic, and cultural ties and will become clear evidence of the sustainable partnership between the two countries based on mutual respect and benefit.

We hope its results will give a new impetus to the development of cooperation and bring fresh ideas for further promising projects that will strengthen the peace, security, and prosperity of the countries.

Abdulaziz Khidirov, UzA