The Center for Economic Research and Reforms conducted a preliminary assessment of the results of Uzbekistan's membership in the WTO

Members of the Senate of the Oliy Majlis, officials of relevant ministries and departments, representatives of international organizations and the media took part in the international roundtable on "Further development and support of exports in the Republic of Uzbekistan: existing problems and improvement of legislation to address them".

The event was organized jointly with the Konrad Adenauer Foundation of the Senate of Oliy Majlis to develop proposals to improve the export potential of Uzbekistan by improving the legislation and eliminating negative factors hindering exports.

He noted that during 2016-2019, the volume of exports of Uzbekistan increased from $ 12.6 billion up to $ 17.9 billion or 42%.

However, in 2020 the coronavirus pandemic had a negative impact on export performance, which was down 15%.

In recent years, Uzbekistan has taken a course towards the accelerated development of economic sectors producing finished goods with high added value.

Taking into account the priorities outlined by the head of state in his Address to the Oliy Majlis, U. Abidkhadzhayev noted that the government was tasked with increasing the volume of exports of goods and services by at least 20% this year.

At the same time, it was noted that the results of a study by Harvard University show that Uzbekistan has opportunities and a relative advantage in the production of more than 50 industrial goods.

In particular, there are all conditions for the petrochemical, metallurgical, machine-building, electrical, pharmaceutical, construction, textile, leather and footwear, food industries, as well as areas related to the "green economy", become "drivers" of the national economy

According to him, the further integration of Uzbekistan into the world economy will facilitate the entry of domestic products into new export markets.

In this regard, the following measures are being taken:

- active negotiations are underway on joining the WTO;

- received the status of an observer country in the EAEU;

- there is cooperation with the European Union, which contributed to the adoption by the European Commission of a positive decision on the application of Uzbekistan for obtaining the status of the beneficiary of "GSP +".

The analysis carried out by the Center for Economic Research and Reforms using the methodology of the International Trade Center shows that for certain types of products, Uzbekistan has significant untapped export potential, in particular:

- fruit and vegetable products for 986.7 million dollars. ;

- textile products for $ 686.6 million;

- electrical products for 56.6 mln.

According to preliminary empirical calculations on the scenario of accession to the WTO and a 50% reduction in customs duties, imports to Uzbekistan may increase by an average of 5%, and for some industrial products from 2% to 13%.

The impact on exports from Uzbekistan's accession to the WTO will generally be positive, since the WTO member countries will apply to Uzbekistan the rates of import duties agreed upon within the WTO and these rates may be lower than those currently applied to Uzbekistan.

Public Relations Service CERR