Uzbekistan has proposed a number of initiatives aimed at strengthening economic integration and expanding trade relations between the countries of Central Asia, the UPL.uz portal reports.
At a meeting of the Council of the United States-Central Asia Trade and Investment Framework Agreement (TIFA) on March 17, the Minister of Investment, Industry and Foreign Trade of Uzbekistan (MIPT) Laziz Kudratov put forward proposals to unify e-commerce legislation, create a common independent arbitration system, and create a regional platform for suppliers of goods and services with a single payment system, the report said.
Kudratov also suggested creating a common database of exporters and importers to predict and manage risks, as well as simplify food supplies and improve the sanitary and epidemiological system by harmonizing phytosanitary requirements and introducing electronic certification of agricultural products.
The meeting was attended by representatives of the five Central Asian republics and Pakistan and was organized with the assistance of the Office of the US Trade Representative and the US Department of Commerce's Commercial Law Development Program.
The proposed initiatives are aimed at improving the investment climate, ensuring the protection of the rights and property of investors, as well as expanding economic cooperation between the countries of Central Asia. If implemented, they could lead to greater trade integration and faster economic growth in the region.
Centralasianlight.org
March 22, 2023