Uzbekistan and DP World sign framework agreement for strategic trade and digital partnerships
Uzbekistan’s Ministry of Investments and Foreign Trade signs Framework agreement with DP World for a strategic partnership to develop the country’s trade networks and boost international trade
Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, DP World signed a Framework Agreement that will enable it to expand its presence in Uzbekistan, boosting global trade flow and supporting the development of digital infrastructure.
The Framework Agreement was signed by Shukhrat Vafaev, Deputy Minister of Investments and Foreign Trade, Republic of Uzbekistan DP World’s Chairman, Sultan bin Ahmed Sulayem, in the presence of Sardor Umurzakov, Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan.
The agreement covers a broad areas of cooperation, all which will boost Uzbekistan’s trade networks, and position DP World as a strategic partner in boosting international trade. Prioritising the flow of trade in the country, the agreements include the establishment of a new inland logistics network, supporting the expansion of the Navoi Free Economic Zone (FEZ), and the cargo terminal at Navoi International Airport, launching new consumer e-commerce and fintech platforms in the country, and streamlining customs operations.
DP World will also deploy its advanced Port Community System by CARGOES, to provide stakeholders in trade and logistics with seamless, paperless access to services including dry ports, logistics parks, ICDs, railway stations and depots.
Sultan bin Ahmed Sulayem, Group Chairman and Chief Executive Officer of DP World, said: “DP World is committed to being a strategic partner for Uzbekistan enabling trade. Our agreements signed today will help design and shape a world-class trading ecosystem in the country. The Uzbekistan economy continues to grow at a strong pace, making it an attractive destination for long-term investments.”
“We look forward to working with the Ministry of Investments and Foreign Trade to promote economic growth and prosperity for the people of Uzbekistan, leveraging our capabilities across trading, logistics, infrastructure and digital technology.”
The World Bank is predicting that Uzbekistan’s economy will grow by 5.6% in 2022. The country is Central Asia’s largest consumer market, and a leading exporter of cotton and textile, automotive, fruits and vegetables. With its growing economy driving domestic consumption complemented by demand for exports, the country’s trading ecosystem is set to unlock numerous benefits.
Sardor Umurzakov, Deputy Prime-Minister, Minister of Investments and Foreign Trade of Uzbekistan, said: “Uzbekistan is keen to cooperate with DP World on facilitating the development of logistics sector of the country through implementation of portfolio of projects in key regions of the country.
DP World is a world class ports and free zones operator. Combination of DP World’s experience and capacity with Uzbekistan’s unique geographical location and favorable business environment will boost regional trade and contribute to further improvement of regional connectivity”.
Developing new trade infrastructure
DP World will establish a state-of-the-art, rail-linked and road-linked, inland logistics network offering customers efficient solutions across all major distribution and consumption centers in and around Tashkent. The company will develop a 100-hectare road-and-rail linked greenfield site in Uzbekistan’s recently established Special Economic Zones.
The agreement will see DP World becoming a strategic partner for the growing Navoi FEZ and the connectivity of the Navoi air cargo terminal linking it to major international hubs, leveraging the company’s expertise in developing, owning, and operating the Jebel Ali Free Zone (JAFZA), the world’s largest free zone, in Dubai.
Additionally, DP World will advise and facilitate Uzbekistan Customs streamline processes with its proven expertise and next generation digital solutions to reform and modernize processes, supporting digital transformation of the overall trade facilitation.
New consumer e-commerce and fintech platforms
The MIFT and DP World also agreed for the company to facilitate the development of a consumer e-commerce platform, leveraging its experience from launching DUBUY.com, an e-commerce platform empowering SMEs and microbusinesses to expand their business and penetrate new markets. The company aims to build the most preferred online shopping destination of the region powered by DP World’s cutting-edge technology.
The new e-commerce platform will be complemented with a consumer fintech platform, giving consumers access to finance and banking solutions through their mobile phones. aims to be the payment option of choice for consumers, helping to facilitate faster, cheaper, and reliable P2P payment and lending opportunities. DP World’s investment in a fintech platform for Uzbekistan in cooperation with Abu Dhabi Uzbek Investment.
World Logistics Passport
Uzbekistan had previously joined the WLP as a Gateway earlier this year to boost global trade networks and partnerships. The WLP will bring increased traffic and revenues for Uzbekistani traders, will increase visibility of Uzbekistan to the WLP global network and will boost global connectivity. MIFT will also be on hand to facilitate and support traders in Uzbekistan to register as WLP members.
As a Gateway, Uzbekistan will be able to access the benefits of the WLP when trading via the UAE, where it joins a network of 24 Hub countries and many other Gateways that span Latin America, Asia, the Middle East and Africa. Other countries that are part of the WLP network include India, Kazakhstan, Thailand, Brazil, Senegal, South Africa, the UAE, amongst others.
About DP World:
DP World is the leading provider of worldwide smart end-to-end supply chain & logistics, enabling the flow of trade across the globe. The Company's comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
