EU-Uzbekistan Agreement 2025: What Companies and Investors Need to Know

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Companies with operations in Uzbekistan have been operating under a new legal framework since July 1, 2025, although many have not yet incorporated it into their contractual and risk management practices. Council Decision (EU) 2025/1296 of June 16, 2025, formalized the signature and provisional application of the Enhanced Partnership and Cooperation Agreement between the European Union and Uzbekistan. The corrigendum published on April 30, 2026, does not modify the substantive content: it simply corrects technical-formal errors in the original text.

What is relevant for executives and advisors is that the agreement is already active. Any commercial operation, investment or project in Uzbekistan must be analyzed in light of this new bilateral framework.

What does this regulation establish?

The EU-Uzbekistan Enhanced Partnership and Cooperation Agreement establishes the legal framework for bilateral relations between the European Union and its Member States, on the one hand, and the Republic of Uzbekistan, on the other. The areas it covers are:

• Trade: conditions and rules governing commercial exchanges between the EU and Uzbekistan.
• Investments: framework for the protection and conditions of investments by European companies in Uzbekistan and vice versa.
• Political cooperation: dialogue and commitments on governance, rule of law and human rights.
• Sectoral cooperation: collaboration in specific sectors of the economy and society.

The corrigendum published on April 30, 2026, affects exclusively technical-formal aspects of the text of Decision (EU) 2025/1296. It does not alter any of the commitments, rights or obligations established in the original agreement.

The agreement applies provisionally from its original publication on July 1, 2025, which means that its legal effects are already fully enforceable without waiting for complete ratification by all Member States.

Economic and operational impact

The provisional entry into force of the agreement has direct consequences for companies with a presence in Uzbekistan:

• More predictable legal framework: European companies now have a formal reference framework for resolving commercial disputes and protecting their investments in the country.
• Investment opportunities: the agreement strengthens the conditions for investment projects in Uzbekistan, a market of over 36 million inhabitants with a growing economy in Central Asia.
• Contract review: existing contracts with Uzbek counterparties must be reviewed to verify their alignment with the new bilateral framework, especially in dispute resolution and applicable law clauses.
• Compliance in sectoral cooperation: companies in sectors with specific cooperation agreements (energy, agriculture, transport, technology) must identify whether their activities fall under any sectoral commitment of the agreement.

Since the corrigendum published in 2026 is exclusively technical, it does not generate new obligations or additional costs compared to the framework already in force since July 2025.

Who does it affect?

• Exporters and importers with regular commercial flows between Spain/EU and Uzbekistan.
• Companies with subsidiaries, joint ventures or service provision contracts in Uzbek territory.
• Investment funds and family offices with positions in assets or projects in Uzbekistan or Central Asia.
• Infrastructure, energy, agriculture and technology companies participating in or evaluating projects in the country.
• Legal advisors and consultants accompanying clients with operations in the region.
• CFOs and financial directors who must assess Uzbekistan's country risk in their business models.

Practical example

A Spanish agroindustrial company has a machinery supply contract with an Uzbek distributor signed in 2023, before the agreement came into force. As of July 1, 2025, that contract operates in a different bilateral legal environment: the EU-Uzbekistan agreement establishes new references in commercial and investment matters that may affect the interpretation of dispute resolution clauses or the conditions for investment protection.

The company's legal team must review whether the contract clauses remain appropriate under the new framework or whether it would be advisable to update them at the next renewal. Failure to do so does not imply a direct breach, but it may leave the company in a less protected position in the event of a conflict with the Uzbek counterparty.

What should companies do now?

1. Verify whether the company has operations in Uzbekistan: exports, imports, service contracts, subsidiaries, investment projects or distribution agreements.
2. Review existing contracts with Uzbek counterparties: check whether the applicable law, dispute resolution and investment protection clauses are consistent with the new EU-Uzbekistan bilateral framework in force since July 1, 2025.
3. Evaluate opportunities: the agreement may open or improve conditions for new investment projects or commercial expansion in Uzbekistan. Commission an opportunity analysis if the Uzbek market is strategic for your company.
4. Disregard the corrigendum as an urgent action: the corrigendum published on April 30, 2026, is technical-formal in nature. It requires no immediate operational action by companies.
5. Consult with advisors specialized in international trade with Central Asia if the company has or plans significant operations in Uzbekistan, to ensure that its contractual and investment structure takes advantage of the new framework and minimizes risks.

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Disclaimer: This article is for informational purposes only and does not constitute legal advice. The information contained herein should not be relied upon as a substitute for professional legal counsel. For specific guidance on your situation, please consult with a qualified legal professional.