The third European Union–Central Asia Economic Forum, held on 26 November in Tashkent, marked a major milestone in the deepening partnership between the European Union and the five Central Asian nations. Bringing together senior government officials, EU representatives, financial institutions, and more than 400 participants from 32 countries, the event highlighted the region’s growing geopolitical importance, expanding economic potential, and shared ambitions in connectivity, sustainable development, and green transition.
The forum gathered high-level speakers including Uzbekistan’s Deputy Prime Minister Jamshid Xodjayev, EU Commissioner for International Partnerships Jozef Síkela, Kazakhstan’s Deputy Prime Minister Galymzhan Koishybayev, Tajikistan’s First Deputy Prime Minister Hokim Kholiqzoda, Kyrgyzstan’s Deputy Prime Minister Bakyt Torobayev, and Turkmenistan’s Deputy Minister of Finance and Economy Babanyaz Yalakov. The discussions centred on trade, investment, critical raw materials, digitalization, regional infrastructure, and climate resilience.
The event also included a bilateral document exchange ceremony and a visit to the Center of Islamic Civilization, reflecting both the cultural and developmental dimensions of the EU–Central Asia partnership.
- Deputy Prime Minister Jamshid Xodjayev
In his opening remarks, Uzbekistan’s Deputy Prime Minister Jamshid Xodjayev emphasized that the forum has grown into a “broad and practical platform” where shared challenges are addressed through real solutions.
“With more partners joining, more sectors involved and more projects moving forward, this forum has already proven to be a platform to deepen cooperation, address pressing challenges and generate real solutions.” — Jamshid Xodjayev
Xodjayev underscored that Central Asia is no longer a passive transit zone, but “a rising engine of innovation, connectivity, and economic momentum.” The region’s young, dynamic, and increasingly skilled population, combined with a renewed commitment to openness and reform, has made Central Asia one of the world’s most promising emerging regions.
He highlighted several transformative trends shaping cooperation with the EU:
- Green and digital transitions reshaping economic models
- New connectivity corridors, including Trans-Caspian routes
- Growing investment in sustainability
- Shift from extraction to local processing in critical raw materials
- Increased role of financial institutions, such as the EBRD and EIB
The EBRD alone invested over €2 billion in 2024, nearly half in renewables and low-carbon projects, while the EIB is preparing nearly €500 million in transport, water, and environmental resilience initiatives across Uzbekistan, Tajikistan, and Turkmenistan.
EU Perspective
Commissioner Jozef Síkela delivered one of the most anticipated speeches of the day. Speaking with pragmatic clarity, he stressed that the “business case for partnership” between Europe and Central Asia is stronger than ever.
“Central Asia is home to abundant natural resources. Your population is young, skilled, dynamic and increasingly independent. Geographically, you stand at the crossroads of East and West.” — Jozef Síkela
He reiterated the EU’s role as:
Central Asia’s second-largest trading partner
- Largest investor
- Main development partner
- Trade between the regions grew nearly 3% last year, but Síkela insisted that this is “not enough” and called for accelerated cooperation.
- Enhanced Partnership and Cooperation Agreements (EPCA)
Th/e EPCA framework is emerging as the legal backbone of EU–Central Asia economic integration.
- In Kazakhstan, EPCA implementation has already led to substantial increases in trade and investment.
- Uzbekistan signed its EPCA last month.
- Tajikistan’s EPCA text was initialed in June and is expected to be signed soon.
- Kyrgyzstan has signed its EPCA and awaits full ratification.
According to Síkela, these agreements will open new avenues for diversification, market access, reform, and sustainable growth.
- €12 Billion Global Gateway Package
The EU’s flagship Global Gateway initiative provides a €12 billion investment package for four strategic areas:
- Transport connectivity (including Trans-Caspian infrastructure)
- Critical raw materials
- Digital connectivity
- Water-energy-climate nexus
Síkela emphasized that the goal is not merely to extract resources, but to create value locally—supporting refining, supply-chain development, workforce training, and ESG standards.
He announced the signing of six new agreements aimed at improving governance, sustainability, and investment security in the critical raw materials sector.
Kazakhstan’s Vision
Representing Kazakhstan, Deputy Prime Minister Galymzhan Koishybayev focused on the country’s decade-long strategic partnership with the EU and the long-term potential for deeper cooperation.
“It is encouraging to know that the EU accounts for nearly half of Kazakhstan’s attracted investments and almost half of its foreign trade.” — Galymzhan Koishybayev
- Kazakhstan as an Investment Hub
- Koishybayev highlighted several major economic indicators:
- Nearly 5,000 European companies currently operate in Kazakhstan
- Kazakhstan aims to attract $150 billion in FDI by 2029
- Large-scale structural reforms are underway
- A new National Development Plan (to 2029) prioritizes sustainable growth
- A National Infrastructure Plan is being implemented
He emphasized the strategic role of Kazakhstan’s logistics network, which provides access to China, the Eurasian Economic Union, the Middle East, and Europe.
Middle Corridor: EU–CA Connectivity
The Trans-Caspian International Transport Route (TITR) — the Middle Corridor — remains a central element of Kazakhstan’s regional strategy. Supported by the EU Global Gateway initiative, it links Central Asia to Europe via the Caspian and Black Seas.
- Major infrastructure projects are already underway with EU and international financial institution participation.
- Reforms, Digitalization, and the AI Cluster
Koishybayev outlined key reforms to improve the business climate, including:
- Reduction of 50% of reporting requirements
- 90% digitalization of public services
- “One-stop-shop” online platforms for businesses
- Strong investment guarantees and incentives via special economic zones
- The Astana International Financial Centre’s English-law jurisdiction
- Kazakhstan’s plan to become a fully digital country within three years
The opening of Alem-AI, Kazakhstan’s new international AI center, marks an important step toward developing a modern digital ecosystem.
- A Region at the Center of Global Transformations
Throughout the forum, one message was clear: the world’s geopolitical and economic landscape is changing rapidly, and Central Asia is emerging as a key player.
Key themes discussed:
- Sustainable energy: regional hydrogen and renewable energy projects
- Climate action: water management, climate resilience, and green development goals
- Critical minerals: moving from extraction to refining and manufacturing
- Connectivity: diversification of trade routes and infrastructure
- Regional cooperation: harmonizing policies and improving cross-border procedures
The first EU–Central Asia Summit in Samarkand earlier this year added further momentum, introducing a long-term strategic vision backed by large-scale European investments.
Conclusion:
The Tashkent forum underscored that the partnership between the EU and Central Asia has entered a new and decisive phase. What was once a largely political dialogue is now becoming a practical, investment-driven, future-oriented cooperation model centered on:
- Connectivity
- Green transition
- Digital transformation
- Sustainable growth
As Jamshid Xodjayev noted, “economies that collaborate grow faster; regions that trust each other become more productive.” The growing engagement between Europe and Centr
al Asia signals a shared confidence that through cooperation, innovation, and institutional reform, both regions can deliver meaningful economic gains for their people.
The outcomes of the event in Tashkent are expected to play a key role in shaping the next generation of infrastructure, climate, and trade initiatives—cements the region’s position as a vital partner for Europe and a rising hub of global development.
Sources
Third EU–Central Asia Economic Forum – EurasiaFocus
Tashkent Hosts EU–Central Asia Economic Forum | EUReflect | EUReflect
