TASHKENT, Uzbekistan, December 7. Bilateral trade between Uzbekistan and the European Union has quadrupled over the past seven years, reaching 54 billion euros, Trend reports via the Ministry of Investments, Industry, and Trade of Uzbekistan.
This was announced by Uzbekistan’s Deputy Prime Minister Jamshid Khodjayev during the Third EU–Central Asia Economic Forum held in Tashkent.
He pointed out that the EU stands out as Uzbekistan’s biggest investor, stepping up to play a crucial part in the country’s economic modernization. The importance of the GSP and GSP+ schemes was emphasized, as they have significantly expanded Uzbekistan’s access to the European market and accelerated the transfer of technologies.
According to the ministry, the EBRD allocated $2.26 billion to Central Asia in 2024, including $938 million directed to Uzbekistan, underscoring growing European financial engagement in the region.
The EU–Central Asia Economic Forum, following previous editions in Bishkek (2021) and Almaty (2023), is organized jointly with the OECD and the International Trade Centre (ITC). The platform brings together senior officials from the EU and Central Asia, representatives of the private sector, and international financial institutions to discuss investment cooperation, regional connectivity, and strategic development initiatives.
This year’s forum brought together delegations from 32 countries, with EU Commissioners Jozef Síkela and Marta Kos at the helm of the European contingent.
The EU's GSP and GSP+ are trade programs that provide preferential market access to developing nations to facilitate poverty alleviation and sustainable development. The Standard GSP lowers tariffs on a substantial array of products, but GSP+ offers zero levies on several identical products for nations that exhibit adherence to fundamental human rights, labor, environmental, and good governance principles.