Uzbekistan has proposed extending the GSP+ status for an additional 10 years to enhance its economic ties with the EU.

Uzbekistan, Tashkent – According to AN Podrobno.uz, Uzbekistan has proposed to the European Union countries to extend the GSP+ regime for another 10 years, broaden the list of goods eligible for benefits, and revise seasonal export quotas to ensure supply stability. This initiative aims to maintain and enhance the outcomes of cooperation while strengthening long-term economic ties with the EU, reports a correspondent from Podrobno.uz.

https://podrobno.uz/cat/economic/uzbekistan-predlozhil-prodlit-rezhim-gsp-na-10-let-dlya-ukrepleniya-ekonomicheskikh-svyazey-s-es/2024-12-10 08:12:42

The proposals were presented at the meeting of the European Union's working group on the implementation of the Generalized Scheme of Preferences (GSP+) in Brussels. Representatives from Uzbekistan, represented by the delegation of the Ministry of Investments, Industry, and Trade (MIIT), participated for the first time. They shared the outcomes of their work under GSP+ since 2021, when the republic received beneficiary status.

During this period, Uzbekistan's exports to EU countries have nearly tripled, reaching 1.15 billion dollars. Currently, more than 1,100 categories of goods are consistently supplied to the European market, including agricultural products, textiles, electrical equipment, and chemical products.

Additionally, during the visit, the Uzbek delegation held talks with representatives of the European Commission regarding trade and international cooperation. The discussions focused on the conditions for Uzbek goods' access to the EU market, including the revision of import quotas on metal products and securing technical assistance to adapt products to European standards.

Both sides regarded the outcomes of the negotiations as a significant step towards strengthening trade and economic cooperation, which will ultimately open new opportunities for exporting Uzbek products to the European Union.

For reference . The Generalized Scheme of Preferences (GSP) is the main instrument of the EU's trade policy to support the export of developing countries to the Union states. By obtaining GSP+ status, a country is exempt from paying taxes on the export of over 6,000 types of goods to the European market.