TASHKENT, July 14. /Dunyo IA/. An expert meeting with the renowned Columbia University Professor Jeffrey Sachs took place at the Institute for Macroeconomic and Regional Studies (IMRS) in Tashkent, with the participation of Umarbek Nuriddinov and Kairat Akhmedov, researchers at the Institute for Strategic and Regional Studies under the President of Uzbekistan (ISRS), reports Dunyo IA correspondent.

Jeffrey Sachs is one of the world's leading economists and internationally renowned experts on global development. He serves as Director of the Center for Sustainable Development at Columbia University, President of the UN Sustainable Development Solutions Network (SDSN), and formerly served as Special Adviser to three United Nations Secretaries-General. His visit to Uzbekistan forms part of The Marco Polo Drive of Peace, Culture and Sustainable Development, a 43-day expedition along the historic Silk Road from Rome to Hong Kong aimed at promoting Eurasian connectivity, sustainable development and international cooperation.

In his remarks, Professor Sachs shared his perspective on the transformation of the global economy, Central Asia's role in the emerging architecture of Eurasia, and highly commended the reforms underway in Uzbekistan.

According to Professor Sachs, the world is undergoing a profound structural transformation, with the centre of the global economy gradually shifting towards Eurasia, thereby restoring Central Asia's historic role as a bridge between East and West. Whereas only a few decades ago the global economic centre of gravity was located in the Atlantic region, it is now, as he put it, “somewhere very close to Uzbekistan”. In his view, Asia's rise represents “the most important economic process of our time”, - shaping new patterns of trade, investment and transport connectivity.

Against this backdrop, Professor Sachs stressed that Uzbekistan has a unique historic opportunity to become one of Eurasia's leading transport, logistics, investment and tourism hubs. “It is a great calling to be at the centre of the global economy”, - he remarked.

The country's historic cities made a particularly strong impression on the professor. He described Khiva, Bukhara and Samarkand as “absolutely magical places”, - noting that they had for centuries shaped Eurasia's unique cultural landscape.

Acknowledging the effectiveness of Uzbekistan's ongoing reforms, Professor Sachs noted the growing interest of international businesses in the country. In his view, Tashkent is steadily emerging as a regional hub for the headquarters of international companies seeking to operate along the Eurasian transport corridors. As evidence, he cited the strong investor interest in the National Investment Fund of Uzbekistan and its successful initial public offering (IPO), for which subscriptions substantially exceeded the volume of shares offered.

Speaking about the country's future development, Professor Sachs proposed advancing a long-term industrial strategy entitled “Made in Uzbekistan”, modelled on China's Made in China 2025 initiative. In his view, such a strategy should identify the sectors capable of ensuring Uzbekistan's international competitiveness over the next 10 to 15 years. He highlighted advanced manufacturing, logistics, financial services, innovation and electric vehicle production as strategic priorities, emphasizing that Uzbekistan, already Central Asia's largest industrial economy, possesses all the prerequisites to become a regional leader in these fields.

Professor Sachs devoted considerable attention to Eurasian transport connectivity. In his assessment, the Middle Corridor is emerging as one of the principal routes linking Europe and Asia, while further infrastructure development - including the construction of a bridge across the Caspian Sea - would enable it to become the fastest and most efficient transport corridor.

In discussing the current state and future prospects of Central Asia with ISRS experts, Professor Sachs particularly emphasized the achievements of the region's countries in strengthening regional partnership. According to him, Central Asia is gradually emerging as a distinct regional community united not only by political dialogue but also by shared institutions and mechanisms for cooperation.

“Countries of the region are not limiting themselves to political dialogue; they are establishing regional institutions, think tanks, research institutes, regional energy strategies and pursuing a common regional diplomacy”, -  he stated.

Professor Sachs expressed support for the Central Asian countries' policy of openness, a multi-vector foreign policy and the diversification of external partnerships. In his opinion, Central Asia should define its own regional agenda independently, rather than becoming an arena for geopolitical rivalry.

As a practical measure to strengthen regional cooperation, Professor Sachs proposed considering the establishment of a Central Asian Development Bank, which could serve as the region's own financial institution for supporting joint infrastructure, energy, scientific and technological projects.

The economist also advocated further strengthening transport connectivity across Central Asia, expanding cooperation in renewable energy, building an integrated regional energy space, and pooling efforts in research and development. In his view, joint investment by the five Central Asian states in science and innovation would significantly enhance both the quality and scale of technological progress across the region.

Among other priorities, Professor Sachs underscored the importance of strengthening Central Asia's ties with neighboring regions, including the South Caucasus and Afghanistan, emphasizing the principle of "region-to-region cooperation" as a foundation for sustainable diplomacy and economic integration.

In conclusion, Professor Sachs stated that the combination of regional unity, openness, mutually beneficial cooperation and the effective use of the opportunities offered by Eurasian connectivity would enable Central Asia to secure a leading place in the global economy of the twenty-first century.