TASHKENT, Uzbekistan, December 17. Uzbekistan is advancing its structural reform agenda while simultaneously pursuing its accession to the World Trade Organization, Trend reports via Moody’s Ratings.
Uzbekistan is undertaking a broad-based reform strategy, focusing on the restructuring of state-owned enterprises and the banking sector to bring governance practices in line with global standards. This effort aims to bolster economic efficiency and enhance the country’s competitive standing on the international stage.
While privatization remains a key component of the government’s economic agenda, it is expected to progress at a more measured pace than initially anticipated, as highlighted by the ratings agency.
Moody’s affirms that Uzbekistan will maintain its drive toward World Trade Organization (WTO) accession, a move poised to accelerate market liberalization and facilitate deeper trade integration. Continued institutional reforms are expected to support and strengthen the country’s positive credit outlook.
Azizbek Urunov, Uzbekistan’s Special Representative for WTO matters, noted that, following recent advancements, Chinese Taipei remains the sole partner with whom bilateral negotiations are still pending.
In a significant milestone, Uzbekistan recently signed market access protocols with Canada and Panama during the 11th meeting of the WTO Working Party on the country’s accession, further advancing its integration into the global trading system.