Uzbekistan's WTO accession expected to boost economic growth by 17%, says special representative

Uzbekistan's accession to the World Trade Organization (WTO) is projected to enhance the country’s economic growth by 17% within the first five to seven years, according to estimates from the World Bank. 

This assertion was made by Azizbek Urunov, the Special Presidential Representative for WTO Issues, highlighting the government's commitment to leveraging WTO membership to improve the business landscape, attract foreign investments, and boost international trade.

Speaking at a roundtable on Uzbekistan’s WTO accession during the World Bank Group Annual Meetings in Washington, Urunov emphasized that the potential benefits of membership include the expansion of foreign trade, a more conducive business environment, and the attraction of additional investments. 

He noted that despite the considerable work ahead, Uzbekistan's strong resolve and the broad international support it has garnered, including technical assistance from the World Bank, position the country to achieve this significant milestone.

“According to the World Bank’s assessment, Uzbekistan’s accession to the WTO will contribute to economic growth by an additional 17% within 5-7 years from the date of membership,” stated Urunov.

President Shavkat Mirziyoyev previously referred to WTO accession as a crucial aspect of ongoing reforms, indicating that protectionist measures hinder Uzbekistan's growth opportunities. In a dialogue with business leaders in August, he reiterated that joining the WTO is vital for expanding exports, particularly of finished goods.

In recent developments, Uzbekistan completed negotiations for WTO accession with 18 countries in September and signed protocols with Brazil and Sri Lanka to finalize market access agreements. Mubin Mirzaev, First Deputy Head of the Tax Committee, noted that upon joining the WTO, Uzbekistan will benefit from a transition period, during which customs duties will be negotiated based on agreements with other member nations.

The drive for WTO membership gained momentum when Mirziyoyev directed the government in April 2023 to expedite the accession process, recognizing its importance for boosting exports. A special representative for WTO issues has been appointed, and dedicated departments have been established across 20 governmental bodies to facilitate this process. Additionally, a ban has been imposed on the creation of regulatory acts that do not align with WTO standards.

At the 78th session of the UN General Assembly in September 2023, President Mirziyoyev reaffirmed that early accession to the WTO is a priority for Uzbekistan. In response, WTO Director-General Ngozi Okonjo-Iweala agreed to expedite the convening of the working group tasked with overseeing Uzbekistan's accession efforts.

With plans to join the WTO before the 14th Ministerial Meeting scheduled for 2026 in Cameroon, Uzbekistan is positioning itself for enhanced economic integration on the global stage. 

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