Council’s Purpose:

• To expand and strengthen trade, investment, and commercial relations between the two countries;
• To improve the business environment and support entrepreneurship, including organizing effective activities in this direction.

The Council is being established following an agreement reached during the “C5+1” summit. From the Uzbek side, the co-chair will be the Head of the Presidential Administration.
Head of the Administration approves the composition of the Council, its regulations, and operational procedures from the Uzbek side.

Priority issues to be considered by the Council:

• Coordination of the development and approval of strategic business initiatives, major investment and trade projects, as well as monitoring their implementation;
• Establishment of a special investment fund to mobilize additional resources in Uzbekistan. The first major investor of the fund will be the U.S. International Development Finance Corporation (DFC), alongside the Uzbek side. For financing major infrastructure and strategic projects, large international financial institutions (EBRD, IFC, ADB) will also be engaged;
• Conducting negotiations on mutual tariff reductions;
• Comprehensive promotion of products and services of companies resident in IT Park;
• Proposing measures to diversify the country’s investment portfolio, including part of the foreign exchange reserves of the Central Bank of Uzbekistan and other assets.

Starting January 1, 2026, a new position of Counselor-Envoy (representative of the Presidential Administration of Uzbekistan in the U.S.) will be introduced within the structure of the Embassy of Uzbekistan in the United States. The responsibilities of the Counselor-Envoy include directly initiating and discussing issues related to the implementation of major and strategic investment and trade projects in Uzbekistan and the U.S., as well as coordinating the work of the Council from the Uzbek side.

To achieve the objectives of the Council:

• The staff of the Embassy of Uzbekistan in the U.S. will be expanded;
• Additional consulates will be opened, including staff and specialists focused on key industry hubs in the U.S., as well as considering the concentration of large Uzbek diaspora communities (in Philadelphia, Chicago, Orlando, and Seattle). One of the primary tasks of the new consulates will be to develop and implement effective engagement with Uzbek diaspora communities across all U.S. states.
• Starting January 1, 2026, Uzbek residents will be able to freely transfer funds from their accounts in Uzbek banks to the United States for:
• Establishing or participating in foreign companies;
• Financing the working capital of their branches in the U.S., without any restrictions, within the limits of funds available in the residents’ accounts.

Source: president.uz