Uzbekistan Completes Technical Work for WTO Membership - Khojayev

During the 32nd annual meeting of the European Bank for Reconstruction and Development's Board of Directors in Samarkand, Deputy Prime Minister Jamshid Khojayev announced that Uzbekistan has completed all technical requirements for becoming a member of the World Trade Organization (WTO).

"We have engaged in negotiations with other member states to ensure that our legislation aligns with the organization's charter.  Our next step is to become a member of the World Trade Organization.  We are focused on enhancing our trade relations not only within the CIS, but also in other directions, and we are actively pursuing projects that facilitate seaport development, "Khojayev stated during the conference on the topic of "New Uzbekistan-a new investment perspective."

Alkis Drakinos, the deputy director of the European Bank for Reconstruction and Development and the head of the bank's office in Uzbekistan, inquired about the necessary steps for Uzbekistan to join the WTO. 

"Becoming a WTO member is a complex and time-consuming process.  We must continue our reforms in this regard.  Currently, we are working on aligning our legal norms and technical standards.  We already have a list of tasks to accomplish.  Joining the WTO would provide significant opportunities for our domestic producers.

While entering such a large market entrails intense competition, we are prepared to embrace it," Khojayev responded to Drakinos' question.  Khojayev openly acknowledged the presence of numerous state enterprises in Uzbekistan's economy. 

"We are in the process of privatizing state enterprises to enhance competitiveness.  However, if these enterprises are able to compete and become competitive, they will also have the chance to enter the market.  Moreover, industrial companies that receive state subsidies, particularly those in the agriculture and electronics sectors, need to revise their strategies to adapt to free market conditions," the Deputy Prime Minister explained.

He further mentioned that Uzbekistan has actively participated in various discussions aimed at joining the WTO.

"The country's most important consideration is to find a compromise that does not harm its industries.  The process is expected to be dynamic, and we are actively working towards it.  As the head of the delegation, I aim to conclude the negotiations as soon as possible," he emphasized.  

negotiations as soon as possible," he said.