US and China Battle for Influence in Central Asia as Rubio Seals $12 Billion in
Saudi Arabia and Asia Locked In Dispute Over 2027 Term Oil Deals Eurasianet is an independent news organization that covers news from and about the South Caucasus and Central Asia, providing on-the-ground reporting and critical perspectives on… Uzbekistan in recent days has served as an octagon of competition between the United States and China over economic influence in Central Asia.
US Secretary of State Marco Rubio led an almost 300-strong American business delegation to the Uzbek city of Samarkand for a business forum, where on October 19, he held talks with the foreign ministers from all five Central Asian states.
Uzbekmedia, citing the Uzbek Ministry of Investment, Industry and Trade, reported that the trip yielded at least 54 business deals worth $12 billion, covering such areas as industry, transport and energy infrastructure, critical minerals, the financial sector, digital technologies, agriculture, healthcare, and education.
Ajoint statementby the participating foreign ministers outlined intentions to strengthen US-Central Asian ties in a variety of areas.
Curiously, the document did not specifically reference artificial intelligence or critical minerals, two priority areas for the Trump administration.
It did, however, “envision expanded opportunities for mineral extraction.” The United States pledged to help Central Asia fulfill “its export potential by developing innovative ways to increase value-added products within the region and [create] pathways to introduce these products to the international market,” the statement noted.
“By leveraging secure and trusted technology, American technological excellence, and the growing technology sectors of Central Asia, we seek to foster a region where e-commerce flourishes, innovative solutions abound, and talented entrepreneurs thrive.” President Shavkat Mirziyoyev on October 19 held meet-and-greets with several US executives, includingRafael Santana, the CEO of locomotive-maker Wabtec, andJenny Johnson, CEO of the asset management firm Franklin Templeton.
One of theagreementsannounced in Samarkand involves a Wabtec initiative to localize production of railway equipment.
Meanwhile, Franklin Templeton, along with other finance firms including Oppenheimer & Co., Citigroup and BlackRock, will help Uzbek companies widen access to global capital markets.
The deals mark a significant step forward for US-Central Asian trade relations.
Prior to the Samarkand meetings, there had been lots of hopeful talk about improving trade ties since President Trump’s return to office in January 2025.
But the talk seemed to be out-pacing actual US dealmaking – at least until now.
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