TASHKENT, Uzbekistan, December 7. Bilateral
trade between Uzbekistan and the European Union has quadrupled over
the past seven years, reaching 54 billion euros, Trend reports via the
Ministry of Investments, Industry, and Trade of Uzbekistan.
This was announced by Uzbekistan’s Deputy Prime Minister Jamshid
Khodjayev during the Third EU–Central Asia Economic Forum held in
Tashkent.
He pointed out that the EU stands out as Uzbekistan’s biggest
investor, stepping up to play a crucial part in the country’s
economic modernization. The importance of the GSP and GSP+ schemes
was emphasized, as they have significantly expanded Uzbekistan’s
access to the European market and accelerated the transfer of
technologies.
According to the ministry, the EBRD allocated $2.26 billion to
Central Asia in 2024, including $938 million directed to
Uzbekistan, underscoring growing European financial engagement in
the region.
The EU–Central Asia Economic Forum, following previous editions
in Bishkek (2021) and Almaty (2023), is organized jointly with the
OECD and the International Trade Centre (ITC). The platform brings
together senior officials from the EU and Central Asia,
representatives of the private sector, and international financial
institutions to discuss investment cooperation, regional
connectivity, and strategic development initiatives.
This year’s forum brought together delegations from 32
countries, with EU Commissioners Jozef Síkela and Marta Kos at the
helm of the European contingent.
The EU’s GSP and GSP+ are trade programs that provide
preferential market access to developing nations to facilitate
poverty alleviation and sustainable development. The Standard GSP
lowers tariffs on a substantial array of products, but GSP+ offers
zero levies on several identical products for nations that exhibit
adherence to fundamental human rights, labor, environmental, and
good governance principles.