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Economy 13/03/2025 The Legislative Chamber reviews the response of the Minister of Investments, Industry, and Trade to a Parliamentary Inquiry

The Legislative Chamber reviews the response of the Minister of Investments, Industry, and Trade to a Parliamentary Inquiry

Tashkent, Uzbekistan (UzDaily.com) — On 21 January 2025, during a plenary session of the Legislative Chamber of the Oliy Majlis, a parliamentary inquiry was submitted to the Minister of Investments, Industry, and Trade, Laziz Kudratov. The inquiry focused on enhancing Uzbekistan’s competitiveness in the global market, attracting investments, diversifying exports, and developing international trade relations.

Deputies reviewed the minister’s response, which highlighted that, in recent years, significant efforts have been made to expand production capacity, implement innovative solutions, diversify transport corridors, and introduce domestic products to new markets.

Expanding Export Opportunities

To strengthen Uzbekistan’s export potential, measures are being implemented to access high-margin markets and increase export volumes. Preferential trade agreements have been signed with Türkiye and Pakistan, allowing for an expansion in agricultural and industrial exports with reduced customs duties. As a result, Uzbek exporters have been granted duty-free access to 12 types of agricultural products in Türkiye and 17 types of domestic goods in Pakistan.

Furthermore, in 2024, business missions involving six EU countries and 32 enterprises exporting leather, food, fruit and vegetable, and textile products to Türkiye were organized. These efforts generated export revenues totaling US$64.6 million.

Uzbekistan and the GSP+ Preference System

To expand exports to the EU, Uzbekistan has obtained beneficiary status under the Generalized System of Preferences Plus (GSP+), as well as the UK’s GSP+ scheme. This allows Uzbek businesses to export over 6,200 product categories duty-free to 27 European countries and the United Kingdom.

In a bid to boost trade volumes, an Uzbek delegation held negotiations in Brussels on December 4–5, 2024. Proposals were made to expand the list of GSP+ preferential goods to include lemons, garlic, and apples.

National Export Strategy Until 2030

As part of large-scale reforms, the Ministry of Investments, Industry, and Trade, in collaboration with the international company RWC, is developing the National Export Strategy of the Republic of Uzbekistan for 2025–2030.

The strategy’s main objectives include:

Increasing the share of finished products in exports to over 50%,

Expanding into new markets,

Aligning products with international standards,

Improving the support system for exporters.

By 2030, Uzbekistan’s export volume is expected to reach US$45 billion.

Certification and International Standards

To enhance the competitiveness of Uzbek products, international standards and enterprise certification are being introduced. As a result of these efforts, the number of certified enterprises in the agricultural and food industries increased to 1,335 by the end of 2024.

The deputies of the Legislative Chamber took note of the minister’s response, acknowledging its comprehensiveness and level of detail.

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