The Deputy Prime Minister for Investment and Foreign Economic Relations of Uzbekistan, Jamshid Khojayev, recently delivered a speech at the annual EBRD forum in Samarkand, where he discussed Uzbekistan's progress towards joining the World Trade Organization (WTO).
Jamshid Khojayev emphasized that accession to the WTO is a complex and extensive undertaking that requires harmonizing trade policies, technical norms, and international standards on goods and services. Therefore, the Ministry of Justice is working diligently to synchronize numerous laws and regulations in preparation for this objective.
The Deputy Prime Minister further noted that joining the WTO provides access to new markets and opens it up to competition. In light of this, Uzbekistan recognizes the need to reform public enterprises and review the development model of sectors that receive state subsidies.
Khojayev highlighted the urgency of the matter, stating that 'Uzbekistan is actively working to meet the short deadlines for this initiative'.
Uzbekistan's objective is to double its export of finished products in the next three years, and it views WTO membership as a means of establishing a fair trade system with 164 countries and securing stable markets.
The Central Asian country has been actively engaged in the process of joining the WTO since 2019 and held its sixth working group meeting on the process in Geneva in March 2023. As a result, negotiations with three states are progressing toward completion, and Uzbekistan is currently in active negotiations with 31 other countries out of 47.
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