In Uzbekistan, special attention is being paid to the development of foreign economic activity and the strengthening of trade and economic relations with foreign countries.

In particular, economic reforms are being implemented to enhance the national economy’s export potential by securing strong positions in global markets through the production of high-quality, competitive products.

This issue was also given special attention in the Address of the Head of State to the Oliy Majlis of December 26, 2025. Alongside the achievements attained, forthcoming tasks were also outlined. Further details on this were provided in an interview with UzA by Doctor of Economics, Professor Jasurbek Otaniyazov.

– The President’s Address to the Oliy Majlis identified several key areas aimed at ensuring long-term sustainable growth of the national economy through deep structural reforms. In particular, increasing the country’s export potential was recognized as a priority area. Overall, in 2026, new projects will be launched in the chemical industry worth $4.5 billion, in the mining and metallurgical, oil and gas, automotive, textile industries, and the production of construction materials – $3 billion in each sector, in the electrical engineering industry – $2 billion, and in the pharmaceutical industry – $800 million. Thus, in 2026, we will reach exports of $40 billion, with the share of finished and semi-finished goods exceeding 55 percent.

It should be noted that the volume of the country’s exports at the end of 2024 amounted to $26.9 billion, an increase of $13 billion from 2017. Strengthening the state’s position in global markets and expanding its foreign economic potential largely depend on further increasing the national economy’s export capacity. The goal is to ensure its sustainable development by enhancing export potential, creating new jobs, and strengthening the country’s standing on the international stage.

In an environment in which the “rules of the game” in the global trading system are changing, the country plans to increase its exports by 23 percent this year, bringing them to $33.4 billion. To this end, structural changes are being implemented in foreign economic activity to accelerate the expansion of trade and export volumes systematically. In particular, a preferential system has been introduced to ensure the stable functioning of economic sectors and to support the export activities of business entities.

First, large-scale measures were implemented to liberalize economic reforms in the export sector. The processes for issuing permits and licensing for exporting enterprises were simplified, and administrative barriers were reduced. These measures encourage entrepreneurs to enter foreign markets and thereby increase export activity. In addition, the state has introduced mechanisms of financial support. Exporters are provided with concessional loans, subsidies, and guarantees. At the same time, to support the export of IT services, the President of the country highlighted the expansion of the “Digital Startups” program from next year and the launch of a new support system covering the entire path from a startup idea to export. At the same time, to establish private startup centers, the Youth Fund will allocate an interest-free loan of up to 5 billion UZS for a period of five years.

Overall, the creation of such preferential conditions for the development of foreign trade relations in the national economy is one of the most pressing issues in strengthening international economic cooperation and enhancing the country’s export potential. At the same time, the development of exports is of great importance for ensuring a foreign-currency inflow into the country and for facilitating the entry of national producers into global markets with high-quality, competitive products amid intense international competition.

Interviewed by Guzal Sattorova, UzA