Uzbekistan braces for increased transport costs as global situation worsens

The recent military developments in the Middle East have further aggravated an already unstable global situation. This inevitably affects Uzbekistan’s foreign economic relations and its access to international markets.

In light of these developments, the president emphasized the need for an objective assessment of current events and prompt action in key areas such as foreign trade, investment, and transportation.

In particular, the need to diversify export routes and redirect cargo to other, more secure ports was highlighted. According to preliminary calculations, this may lead to a rise in transportation costs of up to 30 percent. In response, the president instructed relevant agencies to coordinate alternative routes with partner countries and support export-oriented enterprises.

The heads of the Ministry of Transport, the Ministry of Investments and Foreign Trade, the Chamber of Commerce and Industry, and other involved agencies were tasked with working closely with business entities, facilitating export-import operations, and assisting in the search for new markets.

At the same time, the importance of maintaining stable production rates and price stability in the domestic market was stressed.