Tashkent hosted the 19th meeting of the Uzbekistan – European Union Cooperation Committee. It was co-chaired by Deputy Minister of Investment, Industry and Trade Badriddin Abidov and Deputy Director of the European External Action Service for Eastern Europe and Central Asia, Luke Devin.

Views were exchanged on further financial, technical, trade, economic, and investment cooperation development. The main emphasis is on measures to liberalize and simplify trade procedures using the benefits of the Generalised Scheme of Preferences Plus (GSP+) of the European Union.

In this context, the growth dynamics in trade turnover between Uzbekistan and the EU are highly appreciated. In just 10 months of 2023, the trade turnover increased by 36% compared to last year, amounting to $4.8 billion. Confidence was expressed in the need to continue systemic work in this direction. The growth in exports of products from Uzbekistan to EU countries was emphasized. Since 2021, the figure has increased 1.5 times – to $794.6 million at the end of 2022.

A discussion took place on partnership in the energy sector, the main goal of which is to achieve a 1.5-fold reduction in the energy intensity of the Uzbek economy and increase its energy efficiency by 20 percent by 2030.

When discussing the issue of further developing cooperation in cargo transportation and logistics, the European side expressed its readiness to support Uzbekistan’s efforts to diversify transport corridors and, in particular, through the development of the Trans-Caspian International Transport Route.

Following the event, the parties confirmed their mutual commitment to further developing a favorable environment for interaction between Uzbekistan and the EU, including through the formation of relevant documents on cooperation in trade, economic, and investment spheres.

UzA