Page 84 - MOE ENGLISH PR - MAY 2024

Press Release

During the meeting, the UAE delegation extended an invitation to Uzbek entrepreneurs and SME-
owners to take advantage of the business opportunities in the UAE and establish diverse economic
activities. In this regard, H.E. Bin Touq shed light on the potential of the UAE’s entrepreneurial
ecosystem in fostering new projects and enhancing existing ones. He also highlighted the
government's initiatives to support SMEs, pointing out that the UAE has secured the top ranking
in the Global Entrepreneurship Monitor (GEM) 2023-2024 report for the third consecutive year,
surpassing several leading economies. The country has also been recognized as the best destination
globally for setting up and conducting new business ventures.

Exchange of expertise in economic legislation development

Furthermore, both sides agreed to exchange information and expertise on policies and economic
laws that support the goals of the ‘We the UAE Vision 2031’ and the ‘Uzbekistan Strategy – 2030.’
They expressed interest in setting up an international hub for advanced digital technologies in
Uzbekistan and tapping into the UAE’s expertise in this field, supporting the achievement of the
digital economy goals of both countries and accelerating the shift towards a knowledge-based
economy.

Agriculture & Food Security

The UAE and Uzbekistan expressed their interest in enhancing cooperation in the food security
and agriculture sectors by increasing trade exchanges in food commodities and agricultural
products and encouraging the private sector to invest in these two vital sectors.

Collaboration opportunities in tourism, aviation, travel & hospitality

H.E. Bin Touq’s meeting with H.E. Umid Shadiev, Chairman of the Tourism Committee at
the Ministry of Ecology, Environmental Protection and Climate Change of the Republic of
Uzbekistan, explored new mechanisms to bolster cooperation in the tourism, aviation, travel, and
hospitality sectors in the near future. These include organizing joint exhibitions and tourism events
and fostering connections between tourism firms in both countries to effectively showcase the top
attractions in the UAE and Uzbekistan. It will also see the strengthening of joint efforts to boost
mutual tourism flows and the frequency of flights operated by the national airlines of both
countries.

H.E. said: “The tourism sector is crucial in strengthening economic relations between the two
countries. Our efforts in this key sector have shown remarkable progress in recent years, as the
number of Uzbek tourists who visited the UAE exceeded 65,000 in 2023, marking a 30 per cent
increase compared to 2022.”

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