BAKU, Azerbaijan, Nov 23
By Natavan Rzayeva - Trend:
Uzbekistan became the first country that joined the United Kingdom's Generalized System of Preferences (GSP Enhanced Framework), Trend reports via the press service of the Uzbek Ministry of Investment and Foreign Trade.
This should serve to expand trade relations between the two countries. In particular, it makes it possible for Uzbekistan to significantly increase the volume of exports to the UK.
After joining GSP Enhanced Framework Uzbekistan can export over 7,800 types of goods to the UK at a zero rate of duty.
The UK applies preferences similar to the EU's “GSP +” system for goods imported from third countries, within the “Enhanced Scheme” of its own “GSP Enhanced Framework”, introduced for developing countries after the country's exit from the EU.
Uzbekistan applied for the beneficiary status of the UK's Expanded GSP Scheme in April and was formally accepted on November 1, 2021. One of the factors in granting this status was that Uzbekistan has ratified 27 key international conventions in the field of human rights, labor standards, the environment, and good governance.