Sardor Mirzayusupovich Rustambaev, the Non-Resident Ambassador of the Republic of Uzbekistan to Nepal, has presented his letters of credence to President Ram Chandra Paudel.

Nepal and Uzbekistan established formal diplomatic relations on 27 January 2018. Speaking at a roundtable discussion with Kathmandu-based businessmen, Ambassador Rustambaev highlighted Uzbekistan’s ongoing efforts to diversify its economy. “We cannot say that we rely on one or two major sources of income,” he said, stressing that both countries can cooperate in areas such as fertilizer, agriculture, labor, tourism, and more.

He also informed participants that discussions are underway to establish an air bridge between Nepal and Uzbekistan.

Uzbekistan, one of the fastest-growing economies, is projected to record a GDP growth of 7.5 percent in 2025, according to an analysis by the Center for Economic Research and Reforms of Uzbekistan, as reported by local media. The forecast was revised upward by 0.8 percentage points from the June estimate. Over the first nine months of this year, the Uzbek economy expanded by 7.6 percent, driven by stable growth in industry, services, agriculture, construction, and foreign trade.

Ambassador Rustambaev encouraged Nepali businesses to explore investment opportunities in Uzbekistan, noting that the two countries are not competitors but can complement each other. He acknowledged, however, that current bilateral trade remains minimal.