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    Uzbekistan World Economics

    TIIF-2024: Experts explore WTO integration for sustainable growth in Uzbekistan

    TIIF-2024: Experts explore WTO integration for sustainable growth in Uzbekistan

    In a recent session titled "WTO Integration: New Horizons for Economic Development," experts convened to explore the potential advantages and risks associated with countries joining the World Trade Organization (WTO). Chaired by independent development expert Mandeep Bains, the discussion delved into various facets of international trade and its implications for sustainable economic growth.

    Photo: Panel explores Uzbekistan's WTO journey for economic advancement
    Source: TIIF-2024

     

    Diverse perspectives were shared during the session, with notable speakers including Azizbek Urunov, the special representative of the President of Uzbekistan on WTO; Tatyana Molchan, Deputy Secretary-General of the United Nations and Executive Secretary of the UNECE; Charlotte Adrian, Ambassador of the European Union to Uzbekistan; David Hoffman, head of the USAID office in Uzbekistan; and Antonio Nucifora, World Bank Practice Leader.

    One of the central themes of the discussion revolved around the role of international trade in fostering economic development. Experts emphasized that while international trade offers opportunities for growth, countries often encounter obstacles such as limited domestic capacity and trade barriers. The WTO, with its trade rules and dispute settlement mechanisms, was highlighted as a pivotal platform for promoting integration among nations through free trade and the reduction of barriers.

    Photo: Insights on Uzbekistan's progress in WTO accession shared at TIIF2024
    Source: TIIF-2024

     

    Azizbek Urunov provided insights into Uzbekistan's progress towards WTO accession, citing successful bilateral negotiations on market access with eight countries. He underscored the importance of harmonizing national legislation with WTO agreements and expressed optimism about concluding agreements with additional countries in the near future.

    “Progress was also made in harmonizing the national legislation with the WTO agreements adopted by all state structures. We presented 18 updated multilateral instruments and 29 legislative instruments. WTO members supported us and took over this process. The transition from the summary of facts to the elements of the draft task force report reflects our future post-merger commitments. We have concluded negotiations with 11 countries and are close to concluding agreements with 10-13 more countries,” Azizbek Urunov voiced.

    Urunov also announced the upcoming meeting of the working group on Uzbekistan's accession to the WTO, scheduled for May 24 in Geneva. This meeting will focus on discussing local support for agriculture issues, showcasing Uzbekistan's commitment to the accession process.

    Photo: Charlotte Adrian, the Ambassador of the European Union to Uzbekistan
    Source: TIIF-2024

     

    Charlotte Adrian, the Ambassador of the European Union to Uzbekistan, emphasized the potential benefits of establishing an international commercial court in Tashkent. She highlighted the convenience it would offer to investors and businessmen from WTO member countries, ultimately enhancing Uzbekistan's investment attractiveness.

    “In the previous meetings, we had questions about several necessary needs. This is what I want to talk about today. If the international commercial court starts work in Tashkent, it will create convenience for investors and businessmen from WTO member countries and increase investment attractiveness in your country. Not only representatives of foreign countries but also Uzbeks can benefit from this,” Charlotte Adrian shared.

    The session concluded with a consensus that joining the WTO presents new opportunities for economic development but requires careful navigation of challenges. 

     

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    03.05.2024, 11:31   Comments (0)   1243
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