TASHKENT, Uzbekistan, April 6. The European Union (EU) and Uzbekistan have signed a memorandum of understanding on the development of a strategic partnership for the promotion of sustainable value chains in the field of critical raw materials, TurkicWorld reports.

According to the office of the European delegation to Uzbekistan, the document was signed by the Executive Vice President of the European Commission, Valdis Dombrovskis, and the Uzbek Minister of Investment, Industry, and Trade, Laziz Kudratov.

The agreement will help to ensure a diversified and sustainable supply of critical raw materials for the green and digital transition in both the EU and Uzbekistan.

Meanwhile, according to the deputy prime minister of Uzbekistan, Jamshid Khodjaev, the country's trade turnover with the EU continued to increase by 32 percent in 2023.

He also noted that Uzbekistan's exports to the EU market almost doubled.

"The trade and economic ties between Central Asia and Europe are dynamically developing. The research shows that the total trade between the EU and Central Asia increased by almost 40 percent over the past decade, from 34 billion euros in 2012 to 48 billion euros in 2022," he said.