Today, Deputy PM Jamshid Khodjaev made remarks at the annual EBRD meeting in Samarkand the steps that Uzbekistan needs to take before joining the World Trade Organization (WTO).

“Entering the WTO is a very long and complicated procedure. First, to this end we need to continue the legal reform to synchronizes our trade policies with international standards for goods and services,” he said.

He noted that at the moment a lot of regulations that need to be synchronized had been identified. This is being done by a working group of the Ministry of Justice.

“Access to markets mean competition, this will also entail good value for money. We understand that the market will play its role and we will be ready to take on the challenge,” Jamshid Khodjaev stressed.

According to him, accession to the WTO gives not only access to the market, but also opens it up for competitors.

“As you know, over the past 5-6 years, we have launched new industries, modernized existing ones and expanded the capabilities of domestic manufacturers, businesses and companies,” he said.

Speaking about further steps to be taken to prepare the country, the Deputy PM mentioned the reform of state-owned enterprises.

“One of the challenges on the way to joining the WTO is the transformation of state-owned enterprises. We have begun work in this area, we are privatizing banks and large companies. State-owned enterprises will also have access to the market, they will have to compete and be competitive. They must be reasonably transformed in accordance with the new realities,” the Deputy Prime Minister emphasized.

In addition, Jamshid Khodjaev drew attention to the fact that sectors that receive state subsidies will have to review their development model.

“Secondly, the state subsidizes certain industries, such as agriculture or many others. They also need to reconsider their strategy, which they are doing now. Over the past 3-4 years, many reforms have been made in agriculture, the cotton sector has been completely privatized and is now ready to compete with other sectors. During negotiations with our partners, we will think about how not to harm the industry, which has just begun to grow,” he said.

In response to a question about the timing of accession to the WTO, Jamshid Khodjaev said: “The trend will be dynamic, we will actively work on it. We have a very short timeframe and we will work on it.”