Tashkent, Uzbekistan (UzDaily.com) -- On 13 June 2024, the Committees of the Legislative Chamber of the Oliy Majlis on budget and economic issues, as well as on industry, construction and trade, held a round table on the topic “Uzbekistan and the World Trade Organization”.

The event was attended by deputies of the Legislative Chamber, representatives of the Institute of Parliamentary Research, ministries and departments, experts and media workers.

It was noted that large-scale measures are being implemented to harness the potential of the national economy, deepen its integration into the global value chain and production, expand the practical application of free market principles and accelerate Uzbekistan’s achievement of membership in the World Trade Organization. In the Uzbekistan 2030 Strategy, WTO membership is defined as one of the main goals of reforms to pursue an open, pragmatic and active foreign policy.

At the round table it was emphasized that the WTO was created for the effective functioning of an open trade system based on multilateral rules in the international economy, eliminating trade barriers and creating equal opportunities for all participants.

Today, the WTO is the only international organization regulating the rules of international trade. The main WTO documents provide for significant reductions in tariffs and other trade barriers, as well as the elimination of discriminatory practices in international trade.

During the event, reports were heard from representatives and experts of ministries and departments.

It was noted that the WTO accession procedures are a “road map” for the comprehensive liberalization of the economy of Uzbekistan, creating a free, competitive and transparent economy according to the standards of developed countries.

WTO membership will help Uzbekistan develop small and large businesses, entrepreneurship and, consequently, the entire economy. New growth points and new industries will appear, which will contribute to the development of the national economy.

The event participants emphasized that the implementation of the measures provided for by the Presidential Decree “On regular measures to further accelerate market reforms and bring the national legislation of the Republic of Uzbekistan into compliance with the agreements of the World Trade Organization” will contribute to the development of the national economy and the introduction of free market principles.

The decree envisages the abolition of many special (exclusive) rights and privileges established by law, as well as the organization of wholesale and retail trade in natural gas and electricity, granting telecommunications operators the right to directly connect to international Internet networks and the gradual unification of tariffs for export-import transportation services with rail freight transportation.

During the round table, the tasks assigned by the Decree to ministries and departments, as well as measures of parliamentary control and the activities of the Committees of the Legislative Chamber were identified. Proposals and recommendations have also been developed to improve the organizational and legal framework of the WTO membership process and the implementation of adopted regulations.

It was previously reported that Uzbekistan plans to join the World Trade Organization (WTO) before the 14th ministerial conference, which will be held in Cameroon in 2026.