According to the president, Uzbekistan is acutely experiencing the negative consequences of rising protectionism and sanctions, disruptions in trade and logistics chains, and a gradual decline in investment activity from foreign partners.
“I would like to emphasize that one of the top priorities of our foreign economic policy is to further expand and deepen mutually beneficial cooperation with the countries of the Eurasian Economic Union, which are our natural and traditional partners,” he stated.
Trade and economic growth with the EAEU
President Mirziyoyev shared progress in Uzbekistan’s collaboration with the Eurasian Economic Union (EAEU) since becoming an observer state four years ago. Over this period, Uzbekistan’s foreign trade turnover with EAEU countries has increased by 80%, reaching $18 billion by the end of last year.
He noted with satisfaction that the product range in trade operations is expanding, primarily due to the growth in industrial product deliveries. The number of joint ventures and projects has tripled.
Recent milestones and future plans
In March of this year, the fourth meeting of the Joint Working Group was successfully held. As a result, a set of coordinated actions was developed to gradually eliminate technical barriers, deepen industrial cooperation, and promote business initiatives.
“We have embarked on implementing a new three-year plan that includes 40 specific measures,” the President noted.
He stressed the need to accelerate expert reviews of Uzbekistan’s proposals aimed at simplifying trade procedures and aligning technical regulation systems with those of the EAEU.
Integration into digital and infrastructure ecosystems
Uzbekistan is also interested in joining mechanisms that support trade, such as digital technical regulation systems, the EAEU’s digital transport corridors ecosystem, and the Eurasian Reinsurance Company. According to Mirziyoyev, these tools would significantly ease the conditions for doing business and facilitate mutual access to markets.
Given the rapid advancement of information technology and artificial intelligence, multilateral cooperation in digitalization was highlighted as a promising area.
