Sunday, 09, May, 2021

On Saturday, April 10, a The EU’s special system of preferences for sustainable development and good governance (GSP +) will take effect for Uzbekistan, to which Uzbekistan was admitted as a beneficiary country under the General Scheme of Preferences (GSP).

A press conference with the participation of the Ministry of Investment and Foreign Trade and the EU Delegation in Uzbekistan was dedicated to this event.

Earlier in December last year, the European Commission made an early decision to grant Uzbekistan the status of a beneficiary of the Generalized System of Preferences plus GSP +. This will allow the country to double the number of duty-free goods supplied to the European Union, bringing it to 6,200.

The GSP + scheme will offer broader opportunities to increase trade between the EU and Uzbekistan, as tariffs will be lifted on a number of important export goods such as textiles, clothing and plastics. In spite of relative proximity to the EU market, the trade potential has not yet been fully tapped, as the EU is only seventh on the list of Uzbekistan's export destinations.

By joining the GSP + scheme, low- and low-middle-income countries are committed to effectively implementing 27 core international conventions on human and labor rights, environmental and climate protection, and good governance. The GSP regulation provides for the constant monitoring of the obligations of the recipients of GSP +.

“I am sure that this will give a powerful impetus to investors and the private sector, primarily from the EU countries, to the implementation of promising projects in Uzbekistan, as well as form a solid basis for diversification and swift development of trade and economic ties between Uzbekistan and the EU countries,” said the Deputy PM Sardor Umurzakov.

The head of the EU delegation to Uzbekistan, Charlotte Adrian, noted: “The application of the GSP + system of preferences in relation to Uzbekistan is as timely as possible, especially during the country's recovery from the COVID-19 crisis. This is also a good incentive for the further implementation of reforms in Uzbekistan related to the implementation of 27 major international conventions on the environment, human and labor rights, as well as good governance. "

As previously reported, the President, addressing the parliament, called for the development of a program for the effective use of EU preferences for duty-free export GSP + in Uzbekistan.

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