Uzbekistan and Singapore agree to start free trade talks
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Uzbekistan and Singapore signed a joint statement on August 28 in Tashkent to begin negotiations on a free trade agreement. The agreement aims to reduce trade barriers and expand market access for companies from both countries. The signing took place during the official visit of Singapore's Senior Minister Lee Hsien Loong, with Uzbekistan's Minister of Investment, Industry and Trade Laziz Kudratov in attendance.
Key Facts
- Uzbekistan and Singapore signed a joint statement on August 28 in Tashkent to begin negotiations on a free trade agreement.
- The signing ceremony was attended by Uzbekistan's Minister of Investment, Industry and Trade Laziz Kudratov and Singapore's Senior Minister Lee Hsien Loong.
- The two countries also signed a memorandum on cooperation in investment, industry and trade, and a document on planned investments of $100 million in a flour and vegetable oil production plant in Tashkent region.
- Bilateral trade between Uzbekistan and Singapore reached $69 million in 2025, while trade in services hit $109.6 million in 2024 and Singapore's direct investment in Uzbekistan totaled $390 million that year.
- Lee Hsien Loong announced plans to visit Samarkand over the weekend to explore its history as a Silk Road trading center.
Free Trade Negotiations
Uzbekistan and Singapore agreed to start negotiations on a free trade agreement, with a joint statement signed on August 28 in Tashkent. The agreement is intended to reduce trade barriers and expand market access for companies from both countries. The signing ceremony was attended by Uzbekistan's Minister of Investment, Industry and Trade Laziz Kudratov and Singapore's Senior Minister Lee Hsien Loong. The launch of negotiations creates opportunities for expanding mutual trade and improving conditions for goods access to the markets of Uzbekistan and Singapore.
Investment and Cooperation Agreements
Alongside the free trade statement, the two sides signed a memorandum on cooperation in investment, industry and trade. A separate document covers planned investments of $100 million in the construction of a flour and vegetable oil production and processing plant in Tashkent region. Agreements were also reached with Singapore Cooperation Enterprise on cooperation in the development of special economic zones, using Singapore's experience and expertise. Another document provides for cooperation in the food industry with the participation of international companies Wilmar International and Indorama, including the organization of vegetable oil production and processing in Tashkent region. The project also envisages the subsequent development of feed base and poultry farming, linking food industry and agricultural production.
Bilateral Economic Ties
Economic ties between Uzbekistan and Singapore have been growing in recent years. In 2025, bilateral trade turnover reached $69 million, while trade in services hit $109.6 million in 2024. Singapore's direct investment in Uzbekistan totaled $390 million in 2024. During his visit, Lee Hsien Loong also visited the Center of Islamic Civilization in Tashkent and walked around Amir Temur Square. He announced on Facebook that he plans to visit Samarkand over the weekend to learn about the city's history as a trading center on the Great Silk Road.
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Uzbekistan and Singapore agree to start free trade talks
