Uzbekistan has concluded bilateral negotiations with the United States on joining the World Trade Organization (WTO). The United States of America became the 21st country with which Uzbekistan has completed bilateral discussions on accession to the organization. The negotiations lasted for 14 months.
The parties are currently actively preparing to sign a market access protocol.
In September, Uzbekistan completed negotiations on WTO accession with 18 countries. Protocols on completion of market access negotiations were signed with Brazil and Sri Lanka.
At a meeting with entrepreneurs in August, the President of Uzbekistan called joining the WTO a thoughtful and far-sighted choice, as well as an integral part of Uzbekistan’s reforms.
In Uzbekistan, the Trade Development Company (TDC) will reimburse transportation costs for exports of fruit and vegetable products.
According to the Chamber of Commerce and Industry of the Republic of Uzbekistan, the funds are provided to exporting companies after the products are shipped abroad by air. The amount of payments depends on the country of destination and the volume of goods.
For deliveries to China or Afghanistan, 13% of the cost will be paid. For exports to other countries (except those bordering Uzbekistan), the compensation will be 15%.
The CRT was established by a presidential decree and is managed by the Chamber of Commerce and Industry. It is responsible for the distribution of funds from the Trade Promotion Fund, in particular for export subsidies.
The organization covers the costs of transportation, renting foreign offices, warehouses, retail space, insurance, and advertising. It also helps businesses establish cooperation with foreign brands and attract foreign specialists.
fruit and vegetable exports, trade development, transportation costs, UZBEKISTAN
During the Week of International Cooperation Initiatives, which took place on October 17-25 in Tashkent, Anthony Bringazen, Vice President for Central Asia of the Saudi company ACWA Power, said that the company is implementing large-scale projects in Uzbekistan worth about $15 billion.
This fund has been allocated for 15 projects. Most of the projects are related to wind energy. In particular, 87% of the investment will be directed to green energy projects, and the rest to the production of green hydrogen. All 15 projects are planned to be commissioned by 2030.
Anthony Bringaisen noted that after Saudi Arabia, Uzbekistan accounts for the largest volume of the company’s investments.
It is noted that the $1.1 billion TPP project in the Syr Darya will provide electricity to more than 3 million households and hundreds of industrial enterprises. The first phase of the green hydrogen project will produce 3 thousand tons of hydrogen. Next, the focus will be on mineral fertilizer processing and the construction of a 52 megawatt wind farm.
Biosphere Corporation, one of Ukraine’s largest household goods companies, has re-launched its business in Uzbekistan, according to the company’s Facebook page.
“Even in these difficult times, when many companies face challenges that seem insurmountable, Biosphere continues to step forward with confidence… Today we are sharing extremely important news: after a long pause, we have re-launched our business in Uzbekistan,” the statement reads.
According to the company, it has been only a week since the first shipment, but the eight largest regions of Uzbekistan have already been covered.
“We are expanding our presence in Central Asia to make Biosphere’s business even more sustainable and reliable. Geographical diversification is our strategic decision to ensure stability and prosperity in an ever-changing world,” the statement said.
According to Biosphere’s website, it began exporting its products to Uzbekistan in 2020.
In June 2022, in an interview with Interfax-Ukraine, the owner and CEO of the corporation, Andriy Zdesenko, spoke about the presence of large orders in Kazakhstan and Uzbekistan, but noted the existence of logistical and other problems with the supply of products.
Biosphere Corporation has been operating in Ukraine for over 20 years. Its products are represented in the markets of 30 countries in Europe and Asia. The product portfolio includes more than 2 thousand items under 13 trademarks: Freken BOK, Smile, Selpak, Vortex, Novita, PRO service, and LaiKit.
The corporation’s capacities are represented by four plants with a total production area of 35 thousand square meters in Dnipropetrovska, Kyivska and Khmelnytska regions, as well as logistics complexes with an area of 30 thousand square meters. Together with the French Groupe Lemoine, Biosphere also owns a plant in Estonia for the production of cotton products with an area of 8.5 thousand square meters.
Chairman of the Customs Committee of Uzbekistan Akmalhuzha Mavlonov met with U.S. Customs and Border Protection Commissioner Troy Miller in Washington, DC.
This is the first time in 32 years that Uzbekistan and the United States have held an official face-to-face meeting of this format between the heads of the two countries’ customs services.
Important agreements reached during the Uzbek-American summits in 2018 and 2023 paved the way for expanding mutual cooperation in all areas.
According to the agency, Uzbekistan’s foreign trade in US goods has increased by 48% over the past 6 years. For 8 months of this year, this figure increased by 64% compared to the same period last year.
It is emphasized that in order to increase these indicators, it is necessary to stimulate the expansion of foreign trade by establishing mutual cooperation and information exchange between the customs services of both countries.
That is why the negotiations focused on such pressing issues as monitoring risks at customs, digitalization of customs procedures and efficient use of human resources.
The heads of the customs services of the two countries signed an agreement on cooperation and mutual assistance, which is an important legal basis for cooperation in the field of customs. This document, which opens a new page in the relationship, provides for the exchange of information between Uzbekistan and the United States in the field of customs and serves to further strengthen cooperation in the fight against drug trafficking, human trafficking, transnational criminal groups, money laundering and customs evasion.
It is noteworthy that the United States has signed similar bilateral customs cooperation agreements with only 17 countries out of 200, and Uzbekistan is the 18th country on this list.
During the talks, the parties discussed in detail the possibilities of attracting specialists from the U.S. border and customs services to Uzbekistan, as well as the possibility of training Uzbek specialists in the United States.
During the visit, the Uzbek delegation is scheduled to familiarize itself with the activities of the U.S. National Targeting Center, the Academy of Cynology, San Antonio International Airport in Texas, the auto-border customs post in Laredo on the border with Mexico, and the Texas-Mexico international railroad crossing.
https://president.uz/ru/lists/view/7559
World central banks in July, according to preliminary estimates of the World Gold Council (WGC), increased the amount of gold in their gold reserves by 37.1 tons.
The largest buyers were Poland (14.3 tons), Uzbekistan (9.6 tons) and India (5.4 tons). Jordan (4.3 tons), Turkey (3.8 tons), Qatar (2.3 tons), Czech Republic (1.6 tons), Egypt and Malta (0.1 tons each) also increased their reserves
Kazakhstan (3.9 tons) and Mongolia (0.7 tons) sold gold.
“Central banks have remained committed to hoarding gold in recent months. While the overall level of demand cooled slightly as the gold price continued to rise to new highs, it nevertheless remained positive,” WGC analyst Krishan Gopaul said in a review.
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