On April 22 this year, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov had a video conference involving Secretary General of the UN Conference on Trade and Development (UNCTAD) Mukhisa Kituyi.

The parties discussed prospects to enhance bilateral cooperation by attracting UNCTAD technical assistance to develop foreign trade relations and attract foreign investment in Uzbekistan.

During the conversation, M. Kituyi highly appreciated reforms implemented under the authority of President Shavkat Mirziyoyev to liberalize the economy and introduce market principles for its management. He also emphasized the active growth of interest of representatives of the foreign business community in the country’s economic transformation over the past few years.

In view of this, the he proposed cooperation in the preparation and publication of Review of the Investment Policy of Uzbekistan, as well Uzbekistan’s Investment Guide. Such an analytics was released only once throughout the country’s history, i.e. in 1999 and 2009 respectively.

The parties separately considered possible joint work to improve the system of free economic zones management in Uzbekistan. Here, they agreed that UNCTAD would assist in development of a Concept for the Development of Free Economic Zones. Khazarasp FEZ in Khorezm region is expected to be the pilot project for the Concept.

Kituyi supported the initiative to implement a project developing a value chain in the fruit and vegetable sector of Uzbekistan as part of the UNCTAD special program supporting inland states. Besides, the top officials of the organization expressed their willingness to assist in preparing special program for the agricultural sector of Uzbekistan o increase exports of processed fruits and vegetables.

Cooperation in the integration of Uzbekistan’s economy in the global business life appears very efficient too. UNCTAD is ready to use the available tools and mechanisms to support Uzbekistan's accession to the World Trade Organization (WTO) and obtain the status of a beneficiary country of the General System of Preferences of the European Union “GSP +” through advanced training coordinators and negotiators of Uzbekistan involved therein.

The participants paid a particular attention to joint initiatives in technology and digitalization. UNCTAD’s top officials proposed assistance in: (1) improvement of national system accounting attracted and mastered foreign investments, adoption of ASYCUDA system in the customs structure, which provides for the complete digitalization of customs procedures and their transition to non-contact mode of operation; (2) technical consulting in the development of features of investment portal of Uzbekistan and its promotion among foreign business circles.

The meeting resulted in agreement on commitment to active cooperation and outlined a plan of priority actions for the practical implementation of joint initiatives.

For reference: The United Nations Conference on Trade and Development (UNCTAD) was established in 1964. It coordinates the UN General Assembly on Trade and Development.