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    Uzbekistan

    Uzbekistan hosts Trade Representative of U.S. to discuss WTO accession

    Uzbekistan hosts Trade Representative of U.S. to discuss WTO accession

    President Shavkat Mirziyoyev of Uzbekistan received Katherine Tai, the Trade Representative of the United States of America, on June 11, with the shared objective of deepening the robust bilateral relations and advancing discussions on Uzbekistan's accession to the World Trade Organization (WTO). Tai conveyed warm greetings and well wishes from President Joe Biden to President Mirziyoyev.

    Photo: President Shavkat Mirziyoyev welcomes Katherine Tai, U.S. Trade Representative
    Source: Presidential Press Service

     

    In their discussions, both parties emphasized the need for further strengthening their strategic partnership, enhancing trade, economic collaboration, and fostering investment opportunities. They expressed satisfaction with the current momentum in bilateral relations, observing a steady growth in trade and investments.

    Highlighting the flourishing business relations, President Mirziyoyev and Ambassador Tai acknowledged the active engagement of prominent American companies and banks such as Air Products, Coca-Cola, Citibank, and Visa in Uzbekistan.

    Photo: Katherine Tai, the Trade Representative of the United States of America
    Source: Presidential Press Service

     

    Crucial topics such as Uzbekistan's accession to the World Trade Organization (WTO), the restoration of the Generalized System of Preferences (GSP), and the "C5+1" format were also on the agenda. Both parties stressed the importance of deepening practical cooperation within the framework of the Agreement on Trade and Investments.

    One of the focal points of the meeting was the initiation of a joint platform aimed at identifying new avenues for industrial cooperation and promoting relevant projects, demonstrating the commitment of both countries to exploring mutually beneficial opportunities.

    Recent trade statistics highlighted the strengthening economic ties between the two nations. In March 2024 alone, the United States exported goods worth $52.1mn to Uzbekistan, while imports amounted to $1.24mn, resulting in a positive trade balance of $50.9mn. U.S. exports to Uzbekistan surged by 103% within a year, marking a significant increase from $25.7mn in March 2023 to $52.1mn in March 2024.

    In continuation of the diplomatic efforts to enhance regional trade and investment, Ambassador Tai will co-chair the United States – Central Asia Trade and Investment Framework Agreement (TIFA) Council meeting in Kazakhstan on June 13. 

    This collaborative platform will bring together officials from Uzbekistan, Kazakhstan, Kyrgyz Republic, Tajikistan, and Turkmenistan to explore avenues for bolstering trade and investment in the region.

    Ambassador Tai's visit to Kazakhstan will include engagements with high-ranking officials, including Deputy Prime Minister Serik Zhumangarin and President Kassym-Jomart Tokayev, to discuss various aspects of bilateral cooperation encompassing trade, industry, agriculture, and integration efforts. Additionally, she will participate in discussions with key ministries and stakeholders, underlining the United States' commitment to fostering robust partnerships in Central Asia.

    The visit also includes participation in a roundtable discussion with labor stakeholders and attendance at a women’s economic empowerment working group lunch, underscoring the United States' focus on inclusive economic growth and empowerment in the region.

     

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    11.06.2024, 18:08   Comments (0)   1771
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