Day: April 28, 2025

On October 10, 2024, the International Centre for Settlement of Investment Disputes (ICSID) announced its decision in the case between Turkish company Bursel Tekstil Sanayi ve Dış Ticaret A.Ş. and Uzbekistan. According to Uzbekistan’s Ministry of Justice, the tribunal rejected all claims made by Bursel Tekstil.

The dispute began in July 2017, when Bursel Tekstil accused the Uzbek government of breaching promises related to cotton pricing and tax policies, actions the company claimed had led to its bankruptcy. Bursel Tekstil sought approximately $700 million in compensation. However, the tribunal ruled in favor of Uzbekistan and ordered Bursel Tekstil to cover the country’s legal costs.

Bursel Tekstil had invested in Uzbekistan’s textile industry in the early 2000s, helping to build a textile plant in Tashkent with funding from the OPEC Fund for International Development and the European Bank for Reconstruction and Development. By 2011, the company operated three factories in Uzbekistan.

Uzbekistan was represented in the arbitration by the Ministry of Justice and the American law firm White & Case. Under ICSID rules, the tribunal’s decision is final and binding.

Previously, The Times of Central Asia reported on another ICSID decision in May 2024, ordering the return of four resorts in Kyrgyzstan to Uzbekistan. In that case, Uzbekistan successfully argued that Kyrgyzstan had violated a 1992 agreement among former Soviet Union countries, which stipulates that property belonging to one country but located on the territory of another remains the property of the original owner.

The sixth meeting of foreign ministers in the “Central Asia-China” format was held in Almaty, attended by the foreign ministers of Kazakhstan (Murat Nurtleu), China (Wang Yi), Kyrgyzstan (Jeenbek Kulubaev), Tajikistan (Sirojiddin Muhriddin), Uzbekistan (Bakhtiyor Saidov), and a representative of Turkmenistan. 

The main topics of discussion included strengthening political dialogue, expanding trade and economic ties, enhancing transport interconnectivity, and jointly countering global challenges. The ministers also addressed sustainable development and environmental security, outlining steps to improve the architecture of multilateral cooperation based on the principles of equality and mutual respect.

A key item on the agenda was preparation for the second China-Central Asia Summit scheduled for this year. The foreign ministers engaged in in-depth political coordination and exchanged views on expanding cooperation across various fields.

Challenges of Globalization and China’s Position

Chinese Foreign Minister Wang Yi expressed concern over growing trends of anti-globalization and protectionism. He criticized the United States for launching a “tariff war” against more than 180 countries, stating that it had undermined international trade rules and the stability of the world economy. 

“China will consistently promote a high degree of openness, share opportunities with the world, and take responsibility for upholding international norms,” Wang Yi emphasized.

China proposed five areas for deepening cooperation with Central Asia: building political trust, promoting trade and investment, improving cooperation mechanisms, jointly celebrating historical anniversaries, and developing humanitarian ties.

Positions of the Central Asian Countries

The Central Asian foreign ministers highly supported China’s proposal to build a “community of common destiny” and expressed intentions to intensify joint efforts under the Belt and Road Initiative.

Particular attention was paid to facilitating trade, enhancing transportation connectivity, boosting industrial investment, and promoting agricultural development. The ministers reaffirmed their commitment to combating the “three forces of evil”, terrorism, extremism, and separatism and to strengthening cooperation within the United Nations framework.

A joint communiqué was adopted following the meeting, reaffirming the parties’ commitment to good-neighborliness, sustainable development, and deepening partnership. 

Kazakhstan at the Center of Integration Processes

Kazakhstan’s Foreign Minister Murat Nurtleu highlighted that the leaders of Central Asian countries had set clear guidelines for cooperation in trade, energy, transport logistics, education, and science. 

“In 2024, trade turnover between Central Asia and China reached a record $95 billion, with Kazakhstan accounting for 46% of that total,” Nurtleu said.

He noted that combining the region’s potential with China’s economic opportunities paves the way for a new architecture of strategic partnership. Plans to launch tourist railway routes between China and Central Asian countries were also discussed, and 2025 was declared the Year of Tourism of Uzbekistan in China.

Bilateral Meetings on the Margins of the Event

On the sidelines of the forum, Wang Yi held separate meetings with his counterparts from Kyrgyzstan, Tajikistan, and Uzbekistan. 

With Kyrgyz Foreign Minister Jeenbek Kulubaev, Wang discussed expanding practical cooperation and accelerating the China-Kyrgyzstan-Uzbekistan railway project. Talks with Tajik Foreign Minister Sirojiddin Muhriddin focused on strengthening strategic partnership and promoting initiatives within the Belt and Road framework. With Uzbek Foreign Minister Bakhtiyor Saidov, discussions centered on intensifying cooperation in key areas and maintaining close coordination in international affairs.

According to the meeting participants, China continues to play a stabilizing role amid global instability, and the Central Asia-China format has proven effective in promoting regional development and security. Participants emphasized their commitment to regular meetings and to further developing the format to address global challenges.