CEO and owner of Akfa Group, former Tashkent mayor, Jahongir Ortiqhujaev commented on Uzbekistan’s plans to join the World Trade Organization (WTO) at an open meeting with young business leaders as part of the Tashkent Loves Youth month.

The meeting participants asked whether the fears that joining the WTO would lead to the penetration of high-quality and cheap foreign goods into the local market, which could displace local entrepreneurs, were justified.

In response to this question, Artykhodjaev called such fears “unfounded.”

“For example, a new president, [Donald] Trump is taking power in a WTO member state, the United States. He said that he would raise duties on goods from Mexico and Canada by 25%, and on goods from China by another 10%. This contradicts the principles of the WTO… Why is he doing this? He is protecting the American market from certain goods. "WTO accession does not mean that all [local] entrepreneurs will be thrown out on the street without protection, and strategic enterprises will be left in a difficult situation," he said.

According to him, if you import a high-quality refrigerator from China, change the logo, write "Made in Uzbekistan" and try to export it back to China, the Chinese side will not accept the product, "calling it low-quality, although it is made in China."

"The country will find a thousand ways to protect its market. Therefore, I believe that there is no need to be afraid. Thanks to the numerous opportunities that our esteemed president has opened up, many enterprises are able to produce products that meet their requirements. I do not think that there will be any serious damage or that something terrible will happen," he said.

Artykhodjaev pointed out that WTO accession will open new markets for Uzbekistan to export products.

"We must see not only possible losses, but also possible gains. There are two sides to a coin. Everyone thinks that we will lose, but in fact we will also win a lot. We will get the opportunity to supply our products to foreign markets. There are no losers here. The quality of goods will only improve, which will benefit both the people and the state,” he summed up.

The owner of Akfa and Artel corporate monopolies, Jahongir Ortiqhujaev said In February that he was against any restrictions on the import of household appliances to Uzbekistan. According to him, the protectionist policies are harming his companies: “We are ready for a market with equal rights. We lost because of these restrictions.” At the same time, the government has long been imposing restrictions and complicates the import of household and other appliances.

To date, Uzbekistan has completed negotiations with 22 countries on WTO accession, including the United States and China.

At a meeting with entrepreneurs in August, President Shavkat Mirziyoyev called WTO accession “a thoughtful and far-sighted choice, as well as an integral part of reforms.” Previously, the country's economy "needed protection to some extent," but if it continues down this path, Uzbekistan's room for maneuver would be limited, he said.