President Shavkat Mirziyoyev led a video selector meeting on March 18, focusing on strategies to boost investments and enhance exports in the agriculture and food industry sectors. The meeting highlighted key statistics and discussed various initiatives aimed at accelerating export growth and maximizing the potential of Uzbekistan's agricultural resources, press servie of the president reported.
In 2023, Uzbekistan recorded substantial agricultural output, with 23 mn tons of fruits and vegetables harvested and a total production value of UZS 86 trillion ($6.8 bn) in the food industry. Despite this productivity, export figures fell short of projections, reaching only $2 bn out of a potential $5 bn due to organizational challenges faced by government officials and exporters.
The meeting delved into the analysis of export composition and market penetration. While Uzbekistan managed to open up new markets in countries like Australia, New Zealand, and Singapore, the majority of exports, approximately 80%, were concentrated in just five countries. Additionally, certain products accounted for a significant portion of the total fruit and vegetable exports, highlighting the need for diversification.
Efforts to support export activities include substantial financial allocations, with UZS 700 bn ($56 mn) allocated annually to support agricultural exports and UZS 1 trillion ($79.4 mn) earmarked for increasing production. However, despite these investments, the full potential of arable land and agricultural resources remains underutilized in some regions, hindering export growth.
President Mirziyoyev emphasized the importance of addressing inflation and ensuring currency stability to facilitate export expansion. He engaged with representatives from exporting businesses and logistics enterprises, discussing their challenges and proposals for improving export processes.
The meeting endorsed proposals to establish trading houses in various countries and major port cities, aimed at enhancing trade facilitation and market access. Additionally, plans to establish modern laboratories with international accreditation were outlined, aimed at ensuring product quality and meeting international standards.
To address working capital challenges faced by exporters, the Business Development Bank will allocate UZS 1.5 trillion ($119 mn) to provide preferential loans to exporting companies. This initiative aims to bolster financial support for export-related activities and stimulate business growth.
Efforts to mitigate product losses during transportation and storage were also discussed, with a focus on investing in refrigerated cargo containers and modern packaging facilities. Enhancing packaging quality is seen as crucial to reducing natural losses and maintaining product quality during transit.
Furthermore, the meeting examined opportunities in the food industry, with plans to increase production value and export earnings through targeted investment and project implementation. A commission on fruit, vegetable, and food export was established under the Prime Minister's leadership to oversee export initiatives and coordinate efforts across the sector.
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