Uzbekistan and Singapore to begin free trade talks

Uzbekistan and Singapore begin negotiations on a free trade agreement.

Uzbekistan and Singapore have agreed to begin negotiations on a free trade agreement. The goal of this agreement is to reduce trade barriers and expand access for businesses from both countries to each other's markets.

A joint statement of intent to conclude such an agreement was signed by the parties on August 28 in Tashkent. This event took place during an official visit by Singaporean Senior Minister Lee Hsien Loong. The signing ceremony was attended by Uzbek Minister of Investment, Industry, and Trade Laziz Kudratov.

The future agreement is expected to simplify trade between the countries, improve business conditions, and open up new opportunities for companies from Uzbekistan and Singapore.

In parallel, the parties signed a memorandum of cooperation in investment, industry, and trade. A document was also signed regarding a planned $100 million investment in the construction of a flour and vegetable oil production and processing plant in the Tashkent region.

Economic ties between the countries have shown growth in recent years. In 2025, trade turnover between Uzbekistan and Singapore reached $69 million. Trade in services in 2024 amounted to $109.6 million, and Singapore's direct investment in Uzbekistan reached $390 million in the same year.

During his visit, Lee Hsien Loong also visited the Center for Islamic Civilization in Tashkent and strolled through Amir Temur Square. In a Facebook post, he announced plans to visit Samarkand this weekend to learn about the city's history as an important trading hub on the Great Silk Road.

It was previously reported that Uzbekistan and Singapore agreed to expand cooperation in investment and innovation.