On April 7 this year, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan, S. Umurzakov, and European Commissioner for Trade, Ph. Hogan, had a videoconference to discuss bilateral trade and economic cooperation, as well as measures of the European side to support Uzbekistan in the republican’s accession to the World Trade Organization (WTO), elaboration of the draft Agreement on Enhanced Partnership and Cooperation (AEPC) and accession to the Generalized System of Preferences (GSP+).

The Commissioner noted the steady strengthening of cooperation between the European Union and Uzbekistan and the progress in the implementation of joint initiatives, in particular within coordination of the draft AEPC. This initiative will combine efforts to accelerate the approval of the draft Agreement and adapt, if necessary, national legislation to ensure its compliance with international standards. The parties determined its objective to complete the approval of the draft Agreement before the end of this year.

In turn, Uzbek side announced the special importance of further strengthening of bilateral trade, economic and investment cooperation with the EU’s countries, including under the GSP. The accession to the GSP will become a solid basis for diversification and sustainable growth of foreign trade in the Republic and the EU.

The parties agreed to intensify joint efforts to complete required procedures under Uzbekistan’s obtaining the status of the beneficiary of “GSP+”. The European Union is ready to assist the Uzbek side in sending corresponding application and the subsequent assignment of the status of beneficiary of “GSP+” system by the end of this year.

Moreover, Ph. Hogan confirmed the willingness of the European side to comprehensively support Uzbekistan in accession to the WTO. The parties achieved general idea on the need for accelerated promotion of the developed initiatives in spite of the current epidemiological situation. In particular, they agreed joint efforts to organize in the near future the 4th Session of the Working Group on Uzbekistan’s accession to the WTO through video conferencing.

Generally speaking, after the negotiations, Ph. Hogan emphasized the commitment of the European side to further strengthen interaction with the Uzbek side in all areas of trade, economic, financial, technical and investment cooperation.