Uzbek President Shavkat Mirziyoyev confirmed the country's plan to join the World Trade Organization (WTO) by 2026, according to a statement from the press service of the President of Uzbekistan. He stated this during a meeting with businessmen in Nukus.
This decision, according to him, is a strategically important step for further economic reforms and ensuring sustainable economic growth.
Mirziyoyev acknowledged that joining the WTO raises concerns among some domestic enterprises due to the possible negative impact.
However, he assured that the government will take the necessary measures to protect local production, including maintaining import duties and actively negotiating with WTO members.
Transition to a competitive economy
President Mirziyoyev noted that in order to successfully integrate into the global economy, Uzbekistan must transition to a competitive, export-oriented economy.
He emphasized the importance of the country's participation in international production chains and increasing the competitiveness of Uzbek products in the global market.
Cancellation of exclusive rights and privileges
To create a level playing field for all market participants, the President announced the upcoming abolition of exclusive rights in key sectors such as metallurgy, chemistry, energy and telecommunications.
In addition, from 2026, it is planned to partially cancel benefits for domestic producers in government procurement and price preferences for local electrical equipment.
WTO as an incentive for increasing competitiveness
According to Mirziyoyev, WTO membership will allow Uzbekistan to eliminate overpayments and restrictions on international transit of goods. This will create additional incentives to increase the competitiveness of the Uzbek economy and improve the country's position in the world market.
The President also noted the importance of improving the quality of products and services, which is a key factor for successfully entering foreign markets.
In particular, the transition to international standards, including food safety standards, is necessary to achieve the goal of increasing agricultural exports to $10 billion by 2030.
CentralasianLIGHT.org
August 21, 2024