The European Union has extended its Generalized System of Preferences Plus (“GSP+”) for Uzbekistan for the next four years, until 31 December, 2027.
The extension was announced on 23 November 2023 at the press conference held jointly by the Ministry of Investment, Industry and Trade and the Delegation of the European Union to Uzbekistan on “Expanding Opportunities of the EU’s Generalized System of Preferences Plus (GSP+) for Uzbekistan.”
The event was attended by the representatives of the Ministry of Investment, Industry and Trade, the Delegation of the European Union to Uzbekistan, embassies of the EU member states in Uzbekistan, ministries and departments, the private sector, as well as representatives of local and foreign media.
It should be noted that as a result of the measures taken to strengthen trade relations with the European Union and expand the geography of Uzbekistan’s exports by the end of 2022, 628 enterprises (116 more than in the corresponding period of 2021) exported local products to European markets in the amount of $647 million equivalent (i.e. twice as much compared to since 2020 ($292 million).
In particular, within the framework of the GSP+ benefits, textile industry products worth $177.4 million were exported to the EU markets (an increase of 126.4% compared to 2021), chemical industry – $138.3 million (4.7 times growth), agriculture and food industry – $19.7 million (103% rise), the electrical industry – $9 million (117% increase).
In 2022, thanks to GSP+, Uzbek exporters saved 28 million euros in import duties. This is a major EU contribution to the development of the Uzbek private sector. Between 2019 and 2022, it grew more than ten-fold.
Within the framework of the report of the European Union Monitoring Commission GSP+, presented at a press conference it was noted that Uzbekistan has made important progress in the implementation of UN conventions by adopting a number of legislative acts on women’s rights and gender equality, combating violence, improving economic and social rights.
The beneficiary status of the GSP+ preferential system creates an opportunity to expand mutually beneficial trade and economic relations between Uzbekistan and representatives of European business.
Another positive aspect is that it has a positive effect on the welfare of the population, that is, deepening trade ties serves to expand business and create new jobs in our country.
Source : Akipress
