TASHKENT, Uzbekistan, February 3. Uzbekistan and OECD have signed a Memorandum of Understanding, marking a new phase in the country’s integration into the global economy, Trend reports via the Uzbek Ministry of Investments, Industry and Trade.
Meanwhile, the agreement was signed on the sidelines of the OECD Eurasia Week.
According to the Ministry, the memorandum outlines 19 key priority areas, including the enhancement of the investment climate, the advancement of digital transformation, the reinforcement of anti-corruption initiatives, and the promotion of green energy development. Under this framework, Uzbek businesses will gain access to OECD’s analytical tools and internationally recognized best practices, which are anticipated to bolster competitiveness and increase investor confidence.
Uzbekistan has also formally applied to accede to the OECD Declaration on International Investment and Multinational Enterprises, a document endorsed by over 50 countries. This move is expected to further elevate Uzbekistan’s standing in global rankings while providing added safeguards for foreign investors.
The cooperation framework also envisions the modernization of critical sectors, including education and healthcare, job creation, the expansion of renewable energy capacity, and the strengthening of social protection mechanisms.
The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental organization that conducts economic analysis and develops policy frameworks across a range of sectors.