Wednesday, 29, January, 2020

The Center for Economic Research and Reforms (CERR), a think tank under the Presidential Administration presented a study evaluating the impact of Uzbekistan's accession to the Eurasian Economic Union (EAEU), using economic modeling and analysis methodology.

since November last year, the Center has been conducting a study to assess the impact of Uzbekistan's accession to the EAEU, which.

" Uzbekistan's accession into the EAEU could significantly cut the barriers and the costs for Uzbek products to enter the markets of the EAEU countries," the CERR director Obid Khakimov said.

According to him, from the economic standpoint, accession to the EAEU is beneficial for Uzbek business. If Uzbekistan joins the union, Uzbek producers will have equal access to the market of the EAEU countries, equal conditions for labor migrants, and access to Russian investment resources and technologies.

The study also presented the impact of a possible entry of Uzbekistan into the EAEU broken down by various sectors of the economy. In particular, it was noted that by joining the EAEU, Uzbekistan will become part of a single customs space, where the common customs tariff (CCT) of the EAEU is in effect.

Also, the cargo logistics will improve and the delivery time for agricultural products will be reduced due to the elimination of some procedures and barriers at borders.

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