Uzbekistan has agreed with Thailand on the terms of support for its application to join the World Trade Organization (WTO). This was announced by Thailand's permanent representative to the WTO, Pimchanok Pitfield.
The parties signed the relevant protocol on December 7. This agreement is expected to strengthen trade relations between the parties and promote the development of intergovernmental contacts.
“We will soon welcome Uzbekistan into the multilateral trading system. We are confident that membership in the WTO family will enhance the country’s trade and investment connections,” Pitfield stated.
In recent months, Uzbekistan has signed protocols supporting its accession to the WTO with the USA, China, the Philippines, and El Salvador. Additionally, this year, countries such as Israel, Brazil, Sri Lanka, and others have expressed support for this matter.
Accession to the WTO
In April 2023, Shavkat Mirziyoyev instructed the government to expedite the process of Uzbekistan obtaining membership in the WTO. The head of state emphasized the importance of this step for significantly increasing exports, particularly of finished products.
In the summer of the same year, the position of special representative of the president on WTO matters was established, and it was mandated to create departments for interaction with the WTO in 20 agencies. The president also imposed a ban on the creation of regulatory legal acts that do not comply with the organization’s standards.
At the 78th session of the UN General Assembly in September 2023, the president declared that the swift accession to the WTO is a priority task for Uzbekistan. The Director-General of the organization, Ngozi Okonjo-Iweala, agreed to expedite the next meeting of the working group on this issue.
Uzbekistan plans to join the WTO before the 14th Ministerial Conference, which will take place in 2026 in Cameroon. During an open dialogue with the business community in August of this year, Mirziyoyev described accession to the WTO as “an integral part of the reforms.”
The first deputy head of the Tax Committee, Mubin Mirzaev, reported that Uzbekistan will receive a transition period of 2-3 years upon joining the WTO. Customs duties will be established based on agreements with other member countries of the organization.
Minister of Economy and Finance, Jamshid Kuchkarov, in his speech before the Oliy Majlis on November 27 regarding the cancellation of benefits for exporters, referred to the WTO as “a generally fair trading system.” He emphasized that local entrepreneurs must learn to operate in conditions of open competition.
Previously, Spot reported that Thailand launched an experiment distributing “helicopter money” to stimulate the economy.