BAKU, Azerbaijan, July 27
By Klavdiya Romakayeva - Trend:
The trade turnover between Uzbekistan and EAEU (Eurasian Economic Union) countries has increased by 75 percent over four years, Trend reports citing the Center for Economic Research and Reforms (CERR).
According to the infographics of the CERR on the changes that took place in Uzbekistan's trade with the countries of the EAEU in 1H2021, the trade turnover of the EAEU countries with Uzbekistan in the first half of the year amounted to $5.6 billion, while exports amounted to $1.8 billion and imports - $3.8 billion.
In particular, more than 55 percent of EAEU trade with Uzbekistan falls on Russia, about 34 percent - on Kazakhstan, about eight percent - on Kyrgyzstan, about three percent - on Belarus, and 0.1 percent - on Armenia.
Uzbekistan in December 2020 received observer status with the Eurasian Economic Union. It is with this association that the closest trade and economic ties have been established, and further integration with the EAEU will make it possible to strengthen them even more.
Traditionally, Uzbekistan exports textiles, products of the metallurgical and chemical industries, as well as food, primarily fruits and vegetables. At the same time, the EAEU supplies Uzbekistan with building materials, products of the woodworking and chemical industries, as well as processed food products, including dairy and meat products.
It is noted that with further integration into the EAEU, Uzbekistan will receive more favorable conditions when entering foreign markets, in particular when trading with Vietnam, Iran, Serbia and Singapore.
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