The United States has long been eyeing the Central Asian states as a vital hub for economic growth and security in Eurasia, but the region's potential remains largely untapped. As the five Central Asian nations – Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan – prepare to meet with U.S. President Donald Trump at the 10th C5+1 forum, it's clear that Washington has an opportunity to advance its interests in the region.
For years, discussions centered on securing access to Central Asia's hydrocarbons and countering Chinese influence, but now the agenda has shifted towards durable strategic cooperation across a range of economic sectors. The Russian invasion of Ukraine and escalating tensions with China have created an atmosphere of crisis and urgency, making it essential for the U.S. to engage more deeply with regional actors.
Uzbekistan, in particular, is emerging as a key player in Central Asia, thanks to President Shavkat Mirziyoyev's efforts to transform the economy and open up to trade and investment. The country has made significant strides in aligning its capital markets architecture with Western norms, and has established a National Investment Fund jointly with Franklin Templeton to privatize state-owned assets.
American companies are increasingly taking notice of Uzbekistan's potential, with Boeing signing a $8.5 billion deal for 22 wide-body aircraft, and Air Products implementing strategic projects in industrial chemistry and gases. Over 300 U.S. companies have already set up operations in the country, with Citi, Honeywell, and Franklin Templeton all poised to open offices.
However, China remains a dominant player in Central Asia, with its Belt and Road Initiative continuing to pose challenges for the U.S. Washington has responded by announcing an Enhanced Strategic Partnership Dialogue with Uzbekistan, but the competition between American and Chinese investment is far from over.
The key to unlocking Uzbekistan's potential lies in strengthening economic ties and cooperation with the U.S., rather than merely competing with China for influence. As Mirziyoyev seeks to balance engagement with Beijing and Moscow, Washington must be prepared to provide the necessary support and investment to ensure that Uzbekistan becomes a natural center of gravity for regional integration.
A comprehensive approach to engaging with Uzbekistan will require senior officials to oversee implementation, establish clear timelines and review schedules, and prioritize mutually beneficial geopolitical dividends. If the U.S. succeeds in this endeavor, it can secure an important regional relationship and shore up its influence in Eurasia.
For years, discussions centered on securing access to Central Asia's hydrocarbons and countering Chinese influence, but now the agenda has shifted towards durable strategic cooperation across a range of economic sectors. The Russian invasion of Ukraine and escalating tensions with China have created an atmosphere of crisis and urgency, making it essential for the U.S. to engage more deeply with regional actors.
Uzbekistan, in particular, is emerging as a key player in Central Asia, thanks to President Shavkat Mirziyoyev's efforts to transform the economy and open up to trade and investment. The country has made significant strides in aligning its capital markets architecture with Western norms, and has established a National Investment Fund jointly with Franklin Templeton to privatize state-owned assets.
American companies are increasingly taking notice of Uzbekistan's potential, with Boeing signing a $8.5 billion deal for 22 wide-body aircraft, and Air Products implementing strategic projects in industrial chemistry and gases. Over 300 U.S. companies have already set up operations in the country, with Citi, Honeywell, and Franklin Templeton all poised to open offices.
However, China remains a dominant player in Central Asia, with its Belt and Road Initiative continuing to pose challenges for the U.S. Washington has responded by announcing an Enhanced Strategic Partnership Dialogue with Uzbekistan, but the competition between American and Chinese investment is far from over.
The key to unlocking Uzbekistan's potential lies in strengthening economic ties and cooperation with the U.S., rather than merely competing with China for influence. As Mirziyoyev seeks to balance engagement with Beijing and Moscow, Washington must be prepared to provide the necessary support and investment to ensure that Uzbekistan becomes a natural center of gravity for regional integration.
A comprehensive approach to engaging with Uzbekistan will require senior officials to oversee implementation, establish clear timelines and review schedules, and prioritize mutually beneficial geopolitical dividends. If the U.S. succeeds in this endeavor, it can secure an important regional relationship and shore up its influence in Eurasia.