BAKU, Azerbaijan, January 16. The European Union is interested in strengthening economic cooperation and trade with Uzbekistan and, within its Global Gateway strategy, aims to develop the Trans-Caspian Transport Corridor, EU Ambassador to Uzbekistan Toivo Klaar told Trend.
"Through the development of the Trans-Caspian Transport Corridor, we aim to ensure that goods are transported between our regions faster and at a lower cost," Klaar said.
Klaar emphasized that the EU encourages closer cooperation between European and Uzbek companies and actively supports business-to-business engagement.
"To support this, we organized the EU-Central Asia Economic Forum on November 26, the Trans-Caspian Transport Corridor Investors Forum on November 27, and the first-ever EU–Central Asia Tourism Forum on November 28, all kindly hosted by Uzbekistan in Tashkent," he said.
The ambassador noted that cooperation between the EU and Uzbekistan covers a broad range of sectors, including strategically important goods.
"Our cooperation extends to a wide range of goods, including critical raw materials that are essential for the digital and green transition," he stressed.
Recalling recent trade figures, Klaar said that total trade between the EU and Uzbekistan reached 4.797 billion euros in 2024, marking a 97.8% increase from 2.424 billion euros in 2020, and noted that these indicators are expected to continue growing with the implementation of the Enhanced Partnership and Cooperation Agreement (EPCA).
"The EPCA foresees a better regulatory environment for
businesses in areas such as trade in goods and services, government
procurement, and intellectual property rights. The agreement also
aims to promote fair and open competition that benefits Uzbek
consumers as well as small and medium-sized enterprises," he
said.
He added that the trade and economic provisions of the EPCA
complement the market access offered to Uzbekistan under the EU’s
Generalized Scheme of Preferences (GSP) and the GSP+ framework.
He further articulated that Uzbekistan capitalizes on augmented
trade advantages pursuant to GSP+ protocols.
"GSP+ extends duty-free or reduced-tariff access to a broader range of products, fully removing tariffs for around two-thirds of exports. In return, Uzbekistan has committed to implementing 27 international conventions on human and labor rights, environmental and climate protection, and good governance," Klaar concluded.
The EU's Generalized Scheme of Preferences (GSP), first introduced in 1971, aims to provide trade benefits to developing countries for poverty reduction. The current legal framework under Regulation (EU) No 978/2012 has been in effect since January 1, 2014, and was recently extended until December 31, 2027. It offers unilateral, reduced tariff access through Standard GSP, GSP+, and Everything But Arms (EBA) arrangements, helping developing countries grow and integrate into the global economy.