SCO Diplomacy: Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar will lead the country’s delegation at the SCO Council of Foreign Ministers meeting in Cholpon-Ata, Kyrgyzstan on July 23–24, holding bilateral talks with SCO counterparts on regional security and connectivity. Water & Regional Trade: The World Bank approved a $20m grant to strengthen transboundary water cooperation in Central Asia, targeting better management of the Amu Darya and Syr Darya basins via improved water accounting and data sharing through EC IFAS. Central Asia Business Momentum: Uzbekistan’s regional business activity stayed upbeat in June, with tax revenues up 45.6% year-on-year, customs payments up 19.2%, exports up 27.6%, and bank lending up 5%, led by gains in Namangan, Navoi, Samarkand and Tashkent. FDI Snapshot: UNCTAD data shows Central Asia’s FDI stock rose 3.6% to $235.5bn in 2025, with Kazakhstan holding about two-thirds, while Uzbekistan recorded the strongest annual increase. Cross-border Logistics: Pakistan and Uzbekistan agreed in principle to reroute some transit trade through China, aiming to keep cargo moving despite security disruptions on older routes. Islamic Finance Move: Uzbekistan approved Islamic banking licensing rules and established an Islamic Finance Council as the new banking law takes effect. Uzbekistan-Afghanistan Rail Talks: Afghan and Uzbek officials discussed expanding railway cooperation, including feasibility work for the Trans-Afghan railway and related logistics upgrades. Sustainable Fuel Export Plan: Allied Biofuels outlined planned SAF/e-SAF export routes from Uzbekistan to Europe and the UAE via rail and sea corridors, under a logistics agreement signed in Tashkent.