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Uzbekistan|business|November 18, 2022 / 01:44 PM
Uzbekistan to boost exports to EU to $700 mln owing to trade preferences

AKIPRESS.COM - Uzbekistan, a member of the GSP+ system of preferences, is ready to boost exports to the European Union to $700 million in 2023 and broaden the range of exports to 600 goods, Uzbek Foreign Minister Vladimir Norov said at the EU-Central Asia ministerial meeting in Samarkand, Interfax reported.

"We are ready to increase the export volume up to 700 million dollars in 2023 and double the range of our products, bringing it to 600 items within the framework of the GSP+ scheme. We are committed to export finished products of textile, furniture and agro-industry, leather and carpets as well as jewelry," the Uzbek Foreign Ministry's press service quoted Norov as saying.

Norov noted the need for elaborating a long-term strategic program to deepen trade and economic cooperation and develop transport and communication ties, alongside a joint program to promote trade between Central Asia and the European Union.

He informed the meeting participants about the proposal that a regional center open to train trade personnel, a strategy be drafted to unlock the potential of the Trans-Caspian multimodal route, and efforts be pooled towards bolstering capacities of the existent international multimodal corridors.

Norov underlined the importance of strengthening partnership between Central Asia and Europe in tourism, the press service said.

The EU-Central Asia ministerial meeting and the EU-Central Asia Connectivity Conference: Global Gateway for Sustainable Development are taking place in Samarkand on November 17-18.

The EU's Generalized Scheme of Preferences Plus (GSP+) is a unilateral trade instrument, which waives import duties on goods supplied to the European Union from countries with incomes below average, thus supporting their sustainable development. Uzbekistan was granted access to GSP+ in April 2021. The preferences allow Uzbekistan to export about 6,200 types of goods to the EU duty free. Before that, Uzbekistan was using the basic GSP system, which allowed it to supply 3,000 types of goods to the EU duty free, in addition to 3,200 types of goods exported at discounted duty rates.

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