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    Uzbekistan

    Uzbekistan's export dynamics: Historical perspective and future directions

    Uzbekistan's export dynamics: Historical perspective and future directions

    Ibrahim Mavlanov, a Professor and a Doctor of Economic Sciences has published an article at the Institute for Advanced International Studies (IAIS) which analyzes the share of Uzbekistan in the world's economic arena for the period spanning from 1992 to 2022.

    Tashkent, the capital of Uzbekistan.
    Source: Viator

    The trajectory of Uzbekistan's export statistics from its independence until 2000 portrays a mixed picture of growth and decline, influenced by global market conditions and internal factors. While the initial five years witnessed an upward trend in exports, subsequent years saw a decline, reaching its lowest point by the year 2000.

    However, the dawn of the 21st century heralded a new phase of growth for Uzbekistan's exports. Through concerted efforts to enhance organizational systems and tap into emerging markets, the country's export volumes gradually surged, marking a notable upturn in the first decade.

    Challenges in the Second Decade

    Yet, as the second decade unfolded, Uzbekistan faced a period of stagnation in its export performance, exacerbated by the global financial crisis of 2008-2009. The repercussions prompted introspection within governmental and scientific circles, sparking discussions on remedial measures.

    President Sh.M. Mirziyoyev's ascension to office brought renewed vigor to address the challenges in Uzbekistan's foreign economic sphere. In a seminal address to the Cabinet of Ministers in January 2017, President Mirziyoyev issued directives to reverse negative trends, emphasizing the imperative for export diversification and liberalization.

    Strategic Initiatives

    Subsequently, strategic initiatives were launched, including the "Strategy of Action in five priority areas of development of the Republic of Uzbekistan in 2017-2021," which prioritized the expansion of international trade and economic cooperation. Reforms within the Ministry of Foreign Affairs further underscored the emphasis on economic diplomacy.

    These measures bore fruit swiftly, with Uzbekistan witnessing a remarkable surge in export volumes. The trajectory of export growth has been solidified through successive strategies, culminating in the recent "Uzbekistan-2030" Strategy, which sets ambitious targets for export expansion.

    Despite the commendable progress, Uzbekistan faces formidable challenges in aligning its export performance with global benchmarks. Comparative analyses underscore the need for substantial enhancements in economic diplomacy to elevate Uzbekistan's share in global exports.

     

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    27.03.2024, 18:30   Comments (0)   1495
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