Poland exported USD 353 million to Uzbekistan in 2024 and imported USD 106 million, for total bilateral trade of USD 459 million. Both flows have grown at 18% per year since 2019. Uzbekistan's GDP is USD 115 billion, targeting USD 200 billion by 2030. In June 2026, a Cooperation Forum produced two textile memoranda and a deal with LPP for one million units for Reserved and Mohito. A Polish business conference on Uzbekistan follows next week. The full picture of one of Poland's fastest-growing trade relationships. Polska wyeksportowala 353 miliony USD do Uzbekistanu w 2024 roku i sprowadzilaila 106 milionow USD, dla lacznego dwustronnego handlu 459 milionow USD. Oba przeplywy rosly o 18% rocznie od 2019 roku. PKB Uzbekistanu wynosi 115 miliardow USD, z celem 200 miliardow USD do 2030 roku.
Uzbekistan has a population of approximately 36 million people, making it the most populous country in Central Asia by a considerable margin. Its GDP reached USD 115 billion in 2024 at a 6.5% real growth rate, and President Mirziyoyev has set a target of USD 200 billion by 2030, having originally targeted USD 160 billion before raising the ambition in October 2024. In 2025, Fitch Ratings upgraded Uzbekistan's credit rating from BB-minus to BB with a stable outlook, with both Moody's and S&P revising their outlooks from stable to positive. Uzbekistan is not a small or peripheral market. It is the largest Central Asian economy by population, with a reform programme that has been actively liberalising trade, investment conditions, and currency convertibility since President Mirziyoyev came to power in 2016. The country maintains trade relations with 210 countries worldwide and its foreign trade turnover reached USD 65.9 billion in 2024, growing at 3.8% year on year. In the first eleven months of 2025, foreign trade turnover reached USD 72.8 billion, up 21.8% versus the same period in 2024, with export growth of 26.2% outpacing import growth of 18.7%.
The economy is commodity and textile intensive on the export side. Uzbekistan's top exports in 2024 were gold at USD 9.66 billion, non-retail pure cotton yarn at USD 1.21 billion, copper wire at USD 789 million, petroleum gas at USD 743 million, and potassic fertilizers at USD 652 million. On the import side, the structure reflects exactly what a developing economy investing heavily in industrial modernisation looks like: machinery and equipment at 33.8% of imports, industrial goods at 16.1%, chemical products at 12.6%. That machinery and equipment import profile is a direct read-across to what Poland manufactures and exports, and it is the structural driver of the growth in bilateral trade between the two countries.
The bilateral trade data from the Observatory of Economic Complexity for 2024 is the most precise picture available. Poland exported USD 353 million to Uzbekistan, with the top three categories being packaged medicaments at USD 55.2 million, tractors at USD 23.9 million, and chocolate at USD 18.2 million. That composition tells a coherent story: Polish pharmaceuticals going to a country with a growing middle class and improving healthcare access, Polish agricultural machinery going to a country where the agricultural sector remains large and modernisation is a stated government priority, and Polish food manufacturing exports benefiting from Uzbekistan's integration into global supply chains. Poland's exports to Uzbekistan have grown at an annualised rate of 18.1% since 2019, rising from USD 154 million to USD 353 million in five years. That is a genuine doubling in half a decade, driven by the structural alignment between what Poland produces industrially and what Uzbekistan's modernising economy needs to import.
From Uzbekistan to Poland, the flows are more concentrated. Uzbekistan exported USD 106 million to Poland in 2024, led by non-retail pure cotton yarn at USD 28.8 million, ethylene polymers at USD 16.1 million, and copper pipes at USD 11.4 million. The cotton yarn figure is the most strategically interesting: Uzbekistan is the world's sixth largest cotton producer and has been actively building its textile manufacturing base, shifting from raw cotton exports toward processed yarn and eventually finished garments as part of its industrial policy. Poland's textile and fashion industry, anchored by WIG20-listed LPP with its Reserved, Cropp, House, Mohito, and Sinsay brands, is a natural buyer of Uzbek textile inputs. The polymer and copper pipe exports suggest Uzbekistan is also developing its petrochemical and metals processing sectors at a scale that makes Poland a viable export market.
| IndicatorWskaznik | FigureLiczba | ContextKontekst |
|---|---|---|
| Poland exports to Uzbekistan 2024 | USD 353M | +18.1% CAGR since 2019, was USD 154M in 2019 |
| Top Polish export: Pharmaceuticals | USD 55.2M | Largest single Polish export category to Uzbekistan |
| Top Polish export: Tractors | USD 23.9M | Agricultural machinery modernisation demand |
| Uzbekistan exports to Poland 2024 | USD 106M | +17.3% CAGR since 2019, was USD 47.7M in 2019 |
| Top Uzbek export: Cotton yarn | USD 28.8M | Textile supply chain building toward finished goods |
| Top Uzbek export: Ethylene polymers | USD 16.1M | Petrochemical manufacturing development |
| Total bilateral trade 2024 | USD 459M | Poland trade surplus of USD 247M |
| Uzbekistan GDP 2024 | USD 115B | 6.5% real growth; target USD 200B by 2030 |
| Uzbekistan total exports 2024 | USD 26.9B | Up 8.4%; gold USD 9.66B dominant |
| Uzbekistan total imports 2024 | USD 39B | Machinery 33.8%, industrial goods 16.1% |
| Uzbekistan credit rating 2025 | BB (Fitch) | Upgraded from BB-minus; Moody's/S&P outlook positive |
The Uzbekistan-Poland Cooperation Forum held on 10 June 2026 was the most substantive recent convening of the bilateral commercial relationship. The forum was organised around the visit to Poland of Nozimjon Kholmurodov, Director of Uzbekistan's Agency for the Development of Light Industry under the Cabinet of Ministers, and involved more than 60 representatives from both countries including manufacturers, buyers, distributors, retail chain representatives, and specialists in logistics and e-commerce. Two memoranda of cooperation were signed, covering the light industry and textile sector specifically, designed to deepen trade, economic, and investment interaction and create sustainable mechanisms of cooperation between the business communities and government structures of both countries. An agreement was also signed between the Poland-Asia Chamber of Commerce and Industry and the Light Industry Development Agency of Uzbekistan.
The headline commercial outcome of the forum was an agreement with LPP S.A., Poland's largest fashion retailer and a WIG20 constituent, to order one million units of production for its Reserved and Mohito brands from Uzbek manufacturers. LPP operates Reserved, Cropp, House, Mohito, and Sinsay across 40 countries with over 2,100 stores. Its supply chain strategy has been diversifying away from Asian sources toward Central Asian and Eastern European production capacity for several years, partly driven by logistics cost reduction and partly by ESG sourcing considerations. Uzbekistan's growing textile manufacturing base, its cotton feedstock advantage, and its location on the China-Europe rail corridor make it a natural fit for a Polish fashion house looking to shorten supply chains. One million units is a meaningful proof-of-concept order for a supply relationship that could scale considerably if quality and delivery performance meet LPP's requirements.
Two memoranda of cooperation in light industry and textiles signed between Polish and Uzbek government and industry bodies. An agreement between the Poland-Asia Chamber of Commerce and Industry and the Light Industry Development Agency of Uzbekistan. LPP agreement for one million production units for Reserved and Mohito. Business-to-business meetings between manufacturers, buyers, distributors, and logistics specialists. Discussions on expanding business missions, implementing investment projects, and using financial instruments from Polish banks. Plans for opening a representative office of the Polish Investment and Trade Agency (PAIH) in Tashkent, which would make Uzbekistan one of a small number of Central Asian markets with permanent Polish commercial representation. Discussions confirmed both sides' readiness to elevate Uzbekistan-Poland economic relations to a new level. Dwa memoranda wspolpracy w lekkim przemysle i tekstyliach podpisane miedzy polskimi i uzbekistanskimi organami rzadowymi i branzy. Umowa miedzy Polsko-Azjatyicka Izba Handlowo-Przemyslowa i Agencja Rozwoju Lekkiego Przemyslu Uzbekistanu. Umowa LPP na milion sztuk produkcji dla Reserved i Mohito. Spotkania biznesowe. Dyskusje na temat otwarcia biura przedstawicielskiego PAIH w Taszkencie.
Unlike some of Poland's bilateral trade relationships, the Poland-Uzbekistan relationship has a functioning institutional structure. There is a Poland-Uzbekistan Intergovernmental Commission that meets periodically to review trade, economic, and investment cooperation. The Co-Chair on the Polish side is the Secretary of State at Poland's Ministry of Development and Technology. Meetings between Uzbek Ambassador Amirsaid Agzamkhodjaev and Polish government representatives in April 2026 focused specifically on expanding industrial cooperation, establishing high-value-added production, and implementing joint projects in transport, logistics, and infrastructure. The opening of a PAIH representative office in Tashkent was flagged as a priority step for strengthening the institutional commercial relationship.
For Uzbek exporters accessing the Polish and wider EU market, the relevant framework is the EU's Generalised Scheme of Preferences (GSP), under which Uzbekistan receives preferential tariff treatment on exports to EU member states including Poland. Uzbekistan is not a WTO member, which creates some friction in the formal trade architecture, but the GSP access means most Uzbek goods can reach Poland at reduced or zero tariff rates. For Polish investors in Uzbekistan, the framework is governed by Uzbekistan's own Foreign Investment Act and a 1993 Poland-Uzbekistan Agreement on mutual promotion and protection of investments, one of the original bilateral investment treaties Poland signed with post-Soviet successor states in the early 1990s. The treaty provides standard investment protection provisions including national treatment, most-favoured-nation status, and ICSID arbitration access for investor-state disputes.
The pharmaceutical sector is already the largest single Polish export category to Uzbekistan at USD 55.2 million, and it reflects a genuine structural advantage. Polish pharmaceutical companies including Polpharma, Adamed, and Aflofarm operate some of Central Europe's largest manufacturing sites, producing branded generics and over-the-counter medicines that are competitively priced for markets like Uzbekistan with large, young populations and growing healthcare budgets. Uzbekistan's government has been actively seeking pharmaceutical manufacturing partnerships, and Poland's pharmaceutical sector has the production capacity, the regulatory experience, and the price positioning that makes it a credible supplier at scale. The trajectory from USD 55 million in 2024 toward a much larger pharmaceutical relationship is one of the more foreseeable growth vectors in the bilateral trade picture.
Agricultural machinery at USD 23.9 million is the second category and equally logical. Uzbekistan's agricultural sector employs a large share of its workforce and is undergoing mechanisation. Polish tractor manufacturers and equipment makers have price points that sit between the cheapest Chinese equipment and the premium German and American brands, which is exactly the competitive space that developing country agricultural modernisation programmes tend to occupy. The LPP textile deal opens a different kind of opportunity: if that supply relationship scales as intended, it pulls in Polish logistics companies, quality control services, and potentially Polish investment in Uzbek textile manufacturing capacity, since LPP's business model ultimately depends on consistent, quality-controlled supply rather than one-off orders.
Transport and logistics were specifically flagged as a priority sector in the April 2026 intergovernmental discussions. The reason is structural: Uzbekistan sits at the centre of the Middle Corridor, the overland trade route connecting China to Europe via Central Asia, the Caspian Sea, Azerbaijan, and then either Turkey or Georgia into Eastern Europe. Poland is at the western end of the rail corridor connecting Western Europe to Central Asia, and the traffic on that corridor has been growing rapidly since the Russia-Ukraine war made the northern route through Russia commercially and politically impractical. Polish logistics operators, freight rail carriers, and intermodal terminal operators are positioned to benefit from Middle Corridor growth, and Uzbekistan is positioned to be a transit and transshipment hub on that route. The commercial logic of the relationship in transport and logistics is therefore not bilateral in the narrow sense but triangular: Poland handling westbound Central Asian freight, Uzbekistan handling the transshipment and origination of that freight, with the Middle Corridor as the infrastructure backbone connecting them.
The Poland-Uzbekistan trade relationship is significantly more developed than the Tanzania relationship covered in the previous Fides Polonia article. The USD 459 million in total bilateral trade in 2024 has grown at 18% per year for five years. The June 2026 Cooperation Forum produced the most concrete commercial outcomes of any Poland-Central Asia business event this year, including the LPP order for one million units that puts a WIG20 company's supply chain directly into the Uzbek textile sector. The planned PAIH Tashkent office will give Poland its first permanent commercial representation in the Uzbek market. The 1993 bilateral investment treaty gives Polish investors legal protection that predates Uzbekistan's current reform era. Polsko-uzbekistanskie stosunki handlowe sa znacznie bardziej rozwinieте niz relacja z Tanzania opisana w poprzednim artykule Fides Polonia. Lacznie 459 milionow USD w dwustronnym handlu w 2024 roku roslo o 18% rocznie przez piec lat. Czerwcowe Forum Wspolpracy 2026 przynioslo najbardziej konkretne wyniki handlowe jakiegokolwiek polsko-centralnoazjatyckiego eventu biznesowego w tym roku.
The structural story is compelling. Uzbekistan needs what Poland makes: pharmaceutical generics, agricultural machinery, industrial equipment, food manufacturing exports, and logistics services. Poland's fashion industry needs what Uzbekistan grows: cotton, now increasingly processed into yarn and textiles at competitive prices. The Middle Corridor growth is pulling transport and logistics investment in both directions. President Mirziyoyev's USD 200 billion GDP target for 2030 requires continued high import volumes of exactly the capital goods Poland produces. At USD 459 million in 2024 growing 18% per year, this relationship could plausibly reach USD 800 million to USD 1 billion by 2028 if the current trajectory is maintained and the institutional framework continues to develop. Historia strukturalna jest przekonujaca. Uzbekistan potrzebuje tego, co produkuje Polska: generykow farmaceutycznych, maszyn rolniczych, urzadzen przemyslowych, eksportu produkcji spozywczej i uslug logistycznych. Polska branza modowa potrzebuje tego, co uprawia Uzbekistan: bawelny, teraz coraz czesciej przetwarzanej w przedze i tekstylia po konkurencyjnych cenach. Przy 459 milionach USD w 2024 roku rosnacych o 18% rocznie, ta relacja moglaaby osiagnac od 800 milionow do miliarda USD do 2028 roku.
This article is produced by Fides Polonia Capital Management for informational purposes only. Trade data sourced from the Observatory of Economic Complexity (OEC), US International Trade Administration Uzbekistan Market Overview, Lloyd's Bank Trade Intelligence, and Uzbekistan National Statistics Committee as cited. Forum and diplomatic data from Dunyo IA, Fibre2Fashion, Trend.az, Global Textile Times, and UzDaily as cited. Fides Polonia Capital Management has no financial interest in LPP S.A. or any other entity referenced in this article. Nothing in this article constitutes investment advice regarding LPP shares or any other security. Niniejszy artykul jest produkowany przez Fides Polonia Capital Management wylacznie w celach informacyjnych. Dane handlowe zaczerpnieto z OEC, US ITA, Lloyd's Bank Trade i Komitetu Statystycznego Uzbekistanu. Fides Polonia Capital Management nie ma interesu finansowego w LPP S.A. ani zadnym innym podmiocie wymienionym w tym artykule.