US to continue providing maximum support for Uzbekistan's accession to WTO

Business Materials 14 November 2020 21:06 (UTC +04:00)
US to continue providing maximum support for Uzbekistan's accession to WTO

BAKU, Azerbaijan, Nov. 14

By Klavdiya Romakayeva - Trend:

US Secretary of Commerce Wilbur Ross assured Uzbekistan the United States will continue to provide maximum support for its accession to the World Trade Organization, Trend reports referring to the press service of the Ministry of Investment and Foreign Trade of Uzbekistan.

The Deputy Prime Minister, Minister of Investment and Foreign Trade of Uzbekistan Sardor Umurzakov, and the US Secretary of Commerce Wilbur Ross discussed issues of the current agenda of the Uzbek-American partnership and agreed on further steps to comprehensively strengthen bilateral cooperation.

The parties discussed the current areas of interaction in the field of investment and entrepreneurship. It was noted that currently there are 276 enterprises in Uzbekistan with the participation of American investments, including 113 with 100 percent American capital.

Topical issues of bilateral trade and economic cooperation were discussed and further measures were agreed upon to increase the volume and range of bilateral trade amid the coronavirus pandemic.

The need to intensify joint actions to strengthen the legal framework, the development of e-commerce in the context of a pandemic, as well as the implementation of a number of projects of regional importance aimed at increasing the interconnection of the countries of Central Asia, was noted by the sides.

Umurzakov expressed appreciation for the US support provided to Uzbekistan in the process of accession to the World Trade Organization (WTO), in particular for the technical assistance of the US Agency for International Development (USAID).

They also noted the significant progress achieved in negotiations with the US on market access for goods and services, which began in July this year. The parties expressed confidence that the established constructive dialogue in this direction will positively affect the process of Uzbekistan's accession to the WTO.

In addition, the prospects for strengthening cooperation in the textile industry were considered. The significant potential of cooperation between American brands and Uzbek textile enterprises was emphasized, which is due to the presence in Uzbekistan of a raw material base and production facilities capable of providing high-quality products.

The parties outlined further joint steps to establish direct contacts between Uzbek manufacturers and representatives of American companies interested in supplying textile products to the United States.

The Uzbek side also expressed gratitude for the support in resolving the issue of excluding Uzbek cotton by the US Department of Labor from the list of products produced using forced or child labor and lifting the ban on its purchase.

The sides also discussed the current state of joint projects implemented with the US Financial Corporation for International Development (DFC). The US Secretary of Commerce voiced his readiness to support the Uzbek side in the accelerated implementation of agreed projects and initiatives aimed at improving the interconnectedness of the region and sustainable development of Central Asia.


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