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    Uzbekistan

    Uzbekistan inches closer to WTO accession: conversation with Dr. Lawrence (Rui) Dang

    Uzbekistan inches closer to WTO accession: conversation with Dr. Lawrence (Rui) Dang

    Uzbekistan's accession to the World Trade Organization (WTO) has been a topic of much discussion and debate, but a recent interview with Dr. Lawrence (Rui) Dang, Economist and part-time advisor to the European Union, sheds light on the opportunities and challenges the country may face.

    Dr. Dang speaks with Daryo's Tawney Kruger about Uzbekistan's WTO accession
    Photo: Daryo's Tawney Kruger and Dr. Dang discuss Uzbekistan's WTO Accession
    Source: Daryo

    The latest working party meeting held in Geneva in March signaled a step closer to Uzbekistan becoming a member of the WTO.

    "The government has set up accession to the WTO as a top priority, especially after 2020," Dr. Dang said.

    He highlighted the high level of political willingness from the Uzbek government to speed up the negotiation process.

    Members met today for the sixth meeting of the Working Party on the Accession of #Uzbekistan. Jamshid Khodjayev, Deputy Prime Minister and Chair of the Inter-Agency Commission on WTO Accession summarizes the main highlights of the meeting.
    For the latest: https://t.co/Jxw684SIG9 pic.twitter.com/meRumqWQr6

    — WTO (@wto) March 14, 2023

    However, challenges still lie ahead. Deputy Prime Minister Jamshid Khodjayev has indicated that Uzbekistan needs to adjust its domestic laws to adapt to WTO regulations, particularly in the areas of market access for foreign products and intellectual property protection.

    "One of the largest barriers is that Uzbekistan needs to submit a future roadmap of how to offer fair treatment to foreign companies," Dr. Dang stated.
    Graphic WTO accession process and procedure and where Uzbekistan is now.
    Photo: Graphic WTO accession process and procedure and where Uzbekistan is now.
    Source: WTO

    Trade relationships are also expected to improve, especially with major trading partners like China and Russia.

    "If Uzbekistan joins the WTO family, it will be a big promotion of mutual trade between the major trading partners," said Dr. Dang.

    He also noted the potential for increased investment from China, particularly in light of the construction of the new railroad between the two countries.

    the China-Kyrgyzstan-Uzbekistan railway
    Photo: the China-Kyrgyzstan-Uzbekistan railway offering new trade options
    Source: Xinhua

    When asked about the impact on Uzbekistan's domestic market, Dr. Dang acknowledged the complexities.

    "There are many state-owned companies, and some receive government subsidies, which goes against WTO regulations. The domestic legal change to be adapted to WTO regulation will be a major challenge but also a good opportunity," he added.

    Dr. Dang emphasized the strategic nature of the process and the need for well-prepared plans. "It's like playing chess; you need to be cautious. You need to be very well prepared to make important decisions, especially like joining the WTO."

    Dr. Dang likened the decision-makign process to a game of chess
    Photo: Dr. Dang likened the decision-making process in WTO accession to a game of chess
    Source: DragonImages/stock.adobe.com

    He also highlighted the advantages that could come with WTO membership, including technology transfers and an easier process for sending professionals for training in major trading partners.

    "The future prospects of joining WTO would much likely benefit Uzbekistan's economy and benefit the future development of high-tech sectors in Uzbekistan," Dr. Dang concluded.

    The road to WTO accession may be long and fraught with challenges, but as Dr. Dang points out, the potential benefits could be transformative for Uzbekistan, impacting everything from trade relations to job creation for the younger generation.

    While caution is required, the prospect of WTO membership offers a tantalizing glimpse into a future of economic stability and growth for Uzbekistan, a future that may well be worth the complex journey that lies ahead.

    30.08.2023, 11:14   Comments (0)   1869
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