Business news from Ukraine

Business news from Ukraine

AGRO PRO EXPO 2025 – international agricultural exhibition to be held in Uzbekistan

From February 25 to 27, 2025, the fourth international specialized exhibition “AGROPRO EXPO 2025” will be held at the International Exhibition Complex “SOF EXPO Samarkand”, located in the heart of the Central Asian region – the city of Samarkand.

“AGROPRO EXPO 2025” is an agricultural exhibition with a wide range of expositions, which will feature

  • agricultural machinery and equipment
  • advanced technologies;
  • spare parts for agricultural machinery;
  • irrigation systems of various types (drip, circular, drum, etc.)
  • automation systems for farms;
  • other modern technologies in all areas of agriculture.

For three days, leading companies from Europe and Asia will present advanced projects in the agricultural sector.

The exhibition will feature products from both local and global manufacturers and brands, including the full range of equipment for working on the land – combines, tractors, forage harvesting equipment, fertilizer equipment, and others. The event will also be attended by representatives of banks and lessors to provide a comprehensive solution to the problems of entrepreneurs.

For more details and to participate in the exhibition, please follow the link.

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Registration of certain medicines has been simplified in Uzbekistan

The Ministry of Justice has registered the Regulation “On the Procedure for State Registration of Certain Medicinal Products Without Clinical Trials” (registration number 3600 of January 17, 2025).

According to the Regulation, the decision to register such medicines is made by a permanent expert council under the Ministry of Health based on the recommendations of the Center for Pharmaceutical Product Safety.

The registration procedure and the issuance of registration certificates are carried out in accordance with the procedure established by the governmental resolution.

The following categories of medicinal products may be registered without clinical trials

– medicinal products included in the list for which it is not necessary to conduct studies for compliance with GMP (Good Manufacturing Practice) requirements

– generics and galenic drugs of local manufacturers, the safety and efficacy of which have been proven in preclinical studies and are not inferior to reference drugs;

– drugs with the same composition manufactured by the same company under different trade names.

We remind that the pharmaceutical market of Uzbekistan is one of the largest for Ukraine.

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Imports of electric vehicles and hybrids to Uzbekistan exceeded gasoline cars for first time

At the end of 2024, for the first time in Uzbekistan, imports of electric and hybrid cars outnumbered traditional gasoline cars. According to the Customs Committee, published by Gazeta.uz, 80,235 passenger cars worth $1.9 billion were imported into the country during the year. At the same time, this is 7% less in quantitative terms (-5,710 units) and 33.1% less in monetary terms (-$632.6 million) compared to 2023.

Imports of cars with gasoline engines decreased by 36.3%, amounting to 32,928 units (compared to 51,699 a year earlier). The cost of imports also decreased significantly – from $1.18 billion to $707.2 million (-40%). The share of gasoline cars in total imports decreased from 64.4% to 44.2%.

Imports of hybrid cars increased by 42%, reaching 17,480 units. Their total value amounted to $339.3 million, which is 17% more than in 2023. The share of hybrids in total imports increased from 15.3% to 23.4%.

Electric vehicles showed even more impressive growth: the number of imported cars increased 1.5 times, from 16,084 to 24,095 units. At the same time, their cost decreased by 48.2% to $224.8 million. The share of electric vehicles in imports increased from 20% to 32.3%.

The average cost of an imported electric car decreased almost threefold, from $26,972 to $9,330 (excluding VAT and customs duties). Hybrid cars also fell in price, but less significantly: the average price dropped by 17.6%, from $23,570 to $19,410. For gasoline cars, the decline was only 6%, from $22,858 to $21,476.

The growing demand for environmentally friendly vehicles is being stimulated by tax and customs incentives. Imports of electric vehicles are exempt from excise duties, customs duties, and road tolls. Taxi drivers using electric and hybrid vehicles are exempt from license fees until 2030. Entrepreneurs are entitled to benefits for the installation of charging stations, which will be introduced in 2023.

In addition, the registration of electric vehicles and hybrids is cheaper than that of gasoline cars. For example, the cost of registering an eco-friendly vehicle is 1.5 BRV, while for gasoline cars it is 6.84 BRV.

Problems with LPG refueling and the high cost of gasoline also contribute to drivers’ switching to electric vehicles. As a result, the share of eco-friendly vehicles in imports reached 55.8% (33,564 units), exceeding the share of gasoline cars (44.2%, 32,928 units).

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Poland, Uzbekistan and India were largest buyers of gold in November

World central banks in November, according to preliminary estimates by the World Gold Council (WGC), increased the amount of gold in their foreign exchange reserves by 53.4 tons.

“Looking to the end of 2024, central banks around the world continued to play a leading role in gold demand,” said WGC analyst Krishan Gopaul. – “November was another month of gold purchases, with central banks adding a total of 53 tons to official reserves, according to available data. This continues the trend observed throughout the year: central banks, mostly from emerging markets, remained active buyers of gold, driven by a desire to find a stable and reliable asset in the face of global economic uncertainty.”

The largest buyers of gold in November were Poland (21 tons), Uzbekistan (9 tons), India (8.4 tons), and Kazakhstan (5.1 tons). According to Gopol, for the first time since April, China reported an increase in reserves (plus 5 tons). Other buyers included Jordan (4.1 tons), Turkey (3 tons), the Czech Republic (1.6 tons), Ghana (1.2 tons), Mongolia and Malta (less than a ton).

Singapore was the main seller of gold (5.2 tons). Also in December, the central bank of Finland reported a 10% reduction in its gold reserves to 44 tons, a sale that most likely took place the same month, WGC said.

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Asian Infrastructure Investment Bank to provide $250 mln to support Uzbekistan’s green transition

The Asian Infrastructure Investment Bank (AIIB) has approved $250 million in financing to support Uzbekistan’s accelerated climate transition to a green, inclusive and resilient economy.

This project marks an important milestone in promoting sustainable economic growth in line with the Uzbekistan 2030 Development Strategy, as well as the country’s commitment to reduce greenhouse gas emissions by 2030.

The project will cover three interrelated areas. First, it will improve climate-related governance structures. Second, it will focus on improving water and land management while promoting economic resilience. Thirdly, the project will accelerate the transition to low-carbon solutions in key sectors such as energy and transportation, prioritizing energy efficiency and sustainable practices.

In addition, the project will pay special attention to the implementation of sustainability and climate risk disclosure practices for state-owned enterprises, as well as to the expansion of renewable energy initiatives that benefit women and vulnerable communities.

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Ukraine is in fifth place among main buyers of grenades from Uzbekistan

According to the Statistics Agency, in January-October 2024, Uzbekistan exported 3,407 tons of pomegranates worth $4.0 million.
Countries to which Uzbekistan exported the most pomegranates in 10 months of 2024:
Russia – 2,192 tons
Kazakhstan – 448 tons
Tajikistan – 279 tons
Kyrgyz Republic – 266 tons
Ukraine – 106 tons
Other countries – 116 tons
Ministry of Statistics of Uzbekistan

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