Uzbekistan and the European Union signed a memorandum of understanding on April 5, marking the beginning of a strategic partnership for the development of sustainable value chains in critical raw materials, as reported by the EU Delegation in Tashkent.
The memorandum was signed in Belgium by Uzbekistan's Minister of Investments, Industry, and Trade, Laziz Kudratov, and the Executive Vice-President of the European Commission, Valdis Dombrovskis.
The agreement aims to ensure diversified and sustainable supplies of critical raw materials for the transition to eco-friendly and digital technologies in both the EU and Uzbekistan. Critical raw materials include 34 types of metals, minerals, and other natural materials, 17 of which are deemed strategically important.
The strategic partnership focuses on integrating sustainable value chains, enhancing supply chain resilience, attracting financing for projects, promoting sustainable and responsible production, collaborating on research and innovation, and capacity building.
Following the signing of the memorandum, the EU and Uzbekistan will work on developing an operational roadmap with concrete actions. This agreement will help the EU access vital raw materials and support Uzbekistan in diversifying its economy and promoting sustainable development in the extractive industry.
The partnership aligns with the EU's commitment to establishing mutually beneficial relationships with resource-rich countries in the value chain of critical raw materials. Uzbekistan is noted for its significant reserves of critical raw materials such as copper, molybdenum, and gold.
The partnership corresponds with the EU's "Global Gateway" strategy, an initiative aimed at investing in sustainable projects worldwide, providing long-term benefits for partner countries. The EU has established similar partnerships with other countries to mobilize up to €300 billion by 2027.
The collaboration between Uzbekistan and the EU signifies a step towards ensuring a stable and responsible supply of essential raw materials while advancing eco-friendly and digital technologies, all while upholding shared values and high standards.
