Shavkat Mirziyoyev calls for the adoption of the agreement on simplification of trade in ECO

The trade index between the member states of the Economic Cooperation Organization (ECO) amounted to $85 billion. This represents only 8% of the total foreign trade of the member states of the organization. Despite many years of efforts to conclude a preferential trade agreement, the expected results have not been achieved. President of the Republic of Uzbekistan, Shavkat Mirziyoyev, discussed this in his speech at the 16th summit of the OIC, which is taking place today, on November 9.

President Mirziyoyev expressed support for the summary of the implementation of "Prospects - 2025," the primary document of the ECO.

It was noted that the time has come to develop the conceptual document "Strategic Goals of Economic Cooperation - 2035," which defines the future priority areas and sectors of the organization based on in-depth analysis of untapped opportunities.

The head of Uzbekistan highlighted the main directions that should be addressed in this important document.

"First, promote mutual trade. Last year, trade between our countries amounted to $85 billion. This accounts for only 8% of the total foreign trade of the member states of the organization. Unfortunately, despite many years of efforts to conclude a preferential trade agreement, the expected results have not been achieved. There are still many restrictions and problems on the path to creating barrier-free trade," said Shavkat Mirziyoyev.

In this regard, the President called for the acceptance of the agreement on trade simplification within the framework of the Economic Cooperation Organization, developed by Uzbekistan experts. Special attention is given to facilitating trade in goods and services, eliminating technical and notarial barriers, digitizing customs, phytosanitary and veterinary procedures, and developing electronic trade.

According to preliminary calculations, these measures could potentially double the volume of mutual trade by 2035.