Uzbekistan eliminates export subsidies for WTO membership preparation
Uzbekistan to Align Export Financing Mechanisms with WTO Norms by 2025
In a move to bring export financing mechanisms in line with World Trade Organization (WTO) norms, Uzbekistan’s President Shavkat Mirziyoyev signed a decree on December 27, as reported by the Ministry of Justice. The decree aims to align support measures for exporters with international trade agreements, with changes set to take effect from the beginning of 2025.
The amendments introduced by the document will affect various regulatory legal acts related to export financing mechanisms, ensuring compliance with international trade rules and WTO requirements. One significant change includes the cancellation of compensation for expenses associated with the export of goods via air and rail transport starting in 2025.
Furthermore, subsidies and compensations for exports conducted before December 31, 2024, will need to be paid no later than February 1, 2025, according to reports by Narodnoe Slovo (The People’s Word). The decree is expected to enhance the effectiveness of support for exporters in Uzbekistan.
Negotiations regarding Uzbekistan’s accession to the WTO have been ongoing, with agreements concluded with countries such as the United States, China, the Philippines, El Salvador, Thailand, and Pakistan. President Mirziyoyev recently stated that the accession process is in its final stages, reaffirming the government’s commitment to supporting businesses and creating favorable conditions for economic growth.
The journey towards WTO membership began in April 2023 when President Mirziyoyev instructed the government to expedite efforts for Uzbekistan’s accession. The establishment of a special representative on WTO issues and the prohibition of regulatory legal acts that do not comply with WTO standards followed in the subsequent months.
With plans to join the WTO before the 14th Ministerial Conference in 2026, Uzbekistan is preparing for a transition period of 2-3 years upon membership. Minister of Economy and Finance Jamshid Kuchkarov highlighted the importance of adapting to open competition and described the WTO as a fair trade system during a recent address to the Oliy Majlis.
As Uzbekistan continues on its path towards WTO accession, the government remains focused on supporting exporters and promoting sustainable economic growth in line with international trade standards.
