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    Uzbekistan Money Central Asia

    WTO by 2026: unlocking global trade and Uzbekistan's opportunities

    WTO by 2026: unlocking global trade and Uzbekistan's opportunities

    Uzbekistan’s road to joining the WTO has been one of the longest in the organization’s history, hitting the 30-year mark this year. It began in 1994, and after a long period of dormancy, is now reignited. In a candid conversation with Daryo, Azizbek Urunov, chief negotiator for Uzbekistan’s WTO accession, shared insights on the nation's ambitious goal to achieve full membership by 2026. With a year and a half left, Urunov remains optimistic, citing robust support from WTO members and the Uzbek government's commitment to reforms.

    Support from WTO Members and Government Commitment

    Urunov emphasized the widespread backing Uzbekistan has received from WTO members. "All WTO members are supportive," he said. "They are saying, 'Please keep this pace, do your job, and we fully support you whenever you are ready to join the organization.'" He credited the nation’s leadership, particularly President Shavkat Mirziyoyev, for driving the reform agenda crucial to meeting WTO standards. "The president himself is very supportive of this process, and his administration has been instrumental in pushing the reform agenda," he added. Reflecting on the timeline, Urunov mentioned, "Even though it sounds a bit ambitious, but in terms of how the country is currently doing and relying on the support of the leadership... 2026 is, I would say, quite an achievable goal."

    A Long Journey Reignited

    Uzbekistan’s journey to join the WTO began in 1994 but saw periods of dormancy. "For most of the years, it was dormant with no negotiations," Urunov noted. "We stopped this process in 2005 and then officially restarted in 2020 holding the fourth working party meeting." The process was reignited as part of the New Uzbekistan agenda set forth by the current administration. "The first years were devoted to addressing urgent economic reforms to prepare for competition and getting ready for WTO accession," he added.

    Reforms and WTO Standards

    The Uzbek government has been proactive in aligning with WTO requirements. Urunov highlighted Decree 85, which aims to combat monopolies by abolishing exclusive rights of state-owned enterprises (SOEs). "WTO doesn't mind having monopolies or SOEs, but they must work on a commercial basis with equal conditions for all," he explained. "One of the key principles of the WTO is the principle of equal treatment, whether it's an SOE, private company, importer, or exporter," he emphasized. Urunov also mentioned, "We are not doing it just for the sake of WTO accession but to prepare ourselves for competition."

    Ensuring Implementation

    One of the biggest challenges, according to Urunov, is the implementation of laws. "Having a solid legislative basis is important, but their full implementation is the biggest challenge," he said. He believes that WTO accession will enhance the credibility of Uzbekistan's legislation and attract quality investments, ensuring that practices align with written laws. "It's partially related to changing mindsets," he noted. "The leadership, the president is always trying to change the mindset of the people as well so that we don't have any dogmas."

    Benefits of WTO Membership

    Urunov outlined several benefits for Uzbekistan’s businesses. "The first and most important part is the equal treatment. So equal condition for all stakeholders in terms of whether it's a state-owned company or private company, there will be equal treatment for everybody, which is a base for good competition environment," he said. He also highlighted the potential for attracting quality investments and the opportunity to integrate into the global supply chain. "WTO rules and norms provide a common trade language, essential for global trade," he added. Reflecting on Uzbekistan's economic landscape, he said, "Uzbekistan is a very attractive economy... and WTO accession will give us a chance to attract quality investments, which means modern technologies, and management is very important."

    Transforming from Landlocked to Land-Linked

    A key aspiration for Uzbekistan is to become a "land-linked" country, leveraging its strategic location. Urunov mentioned various infrastructure projects, including the Trans-Afghan Railway and the China-Kyrgyzstan-Uzbekistan Railway, aimed at enhancing trade corridors. "Our president is always giving new initiatives of linking Uzbekistan with different regional and global economies," he said. "We want to make Uzbekistan not a landlocked but land-linked country in terms of foreign trade, in terms of overall trade economic relations with the countries," Urunov emphasized. He also highlighted the importance of economic corridors, stating, "We want to create economic corridors, again, which will help our industries to enter into this global value chain."

    Addressing Concerns about Foreign Competition

    Urunov acknowledged concerns among local entrepreneurs about increased competition. "Yes, some industries may face challenges, but competition will ultimately make them stronger," he asserted. He cited the example of Turkish Airlines, which thrived after market liberalization. "If we are always afraid of foreign competition, it means that our business will be limited only to our domestic market. But being open to competition, we should open a great opportunity for them to exit to foreign markets," he said. "Economy is about sustainable development and the welfare of people, not just individual enterprises," he emphasized.

    Support from the International Community

    Urunov expressed gratitude for the support from various countries. "Uzbekistan's accession is supported by all the countries. So we have 52 countries in the working party. All of them, they're saying, we fully support you," he said. Notable endorsements came from the United States, the EU, China, India, and Russia, all urging the acceleration of Uzbekistan's WTO accession process. "Big countries, global players, regional big economies, and our neighboring countries are fully supportive," he added. Highlighting the regional support, he said, "Kazakhstan and Tajikistan have been very active in terms of participation in Uzbekistan's accession working party and they are always voicing their support to Uzbekistan."

    Future Prospects for Central Asian Integration

    Discussing the broader regional impact, Urunov highlighted the potential for a common market among Central Asian countries. "We are complementary economies, not competitors," he said. He envisions a future where the entire Central Asian region becomes a significant global partner. "WTO accession of all Central Asian countries will give a much bigger boost in terms of having the whole Central Asia region as a partner, as a global partner with big economies and with other countries," he noted. "In terms of a common market, I don't want to run much forward, but in the future, we'll see how the overall multilateral trade system will evolve," he added.

    As Uzbekistan continues its journey towards WTO membership, the nation’s focus on reforms, international support, and strategic positioning promises to open new avenues for economic growth and global integration.

    Watch the full interview here:

    28.06.2024, 13:06   Comments (0)   2901
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