Tashkent, Uzbekistan (UzDaily.com) -- On 7 April, a video conference was held with the participation of Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and European Commissioner for Trade Phil Hogan, during which issues of bilateral trade were discussed -economic cooperation, as well as measures to assist the European side of Uzbekistan in the processes of the republic’s accession to the World Trade Organization (WTO), the elaboration of the trading part of the draft Agreement on expanded steam partnership and cooperation (SRPS) and joining the Generalized System of Preferences (GSP +).

The Commissioner noted the steady dynamics in strengthening cooperation between the European Union and Uzbekistan and the progress achieved in the implementation of joint initiatives, in particular - in the processes of coordinating the draft SRPS. In this direction efforts will be combined to accelerate the approval of the draft Agreement and adapt, if necessary, national legislation in order to harmonize it with international standards. It was determined that the goal of the parties is to complete the approval of the draft Agreement before the end of this year.

The Uzbek side, in turn, announced a special importance that is attached to further strengthening bilateral trade, economic and investment cooperation with the countries of the European Union, including within the framework of “GSP +”, the accession to which will create a solid basis for diversification and sustainable growth of foreign Republic trade with the EU.

The parties agreed to intensify joint actions to complete the necessary procedures prescribed in the framework of obtaining Uzbekistan the status of beneficiary of “GSP +” - the European Union is ready to assist the Uzbek side in the direction of the relevant application and the subsequent assignment of the status of beneficiary of the system “GSP +” by the end of this year.

Mr. Hogan also confirmed the readiness of the European side to provide comprehensive support to Uzbekistan in the process of accession to the WTO - a common understanding was reached on the need for accelerated promotion of the initiatives being developed in spite of the current epidemiological situation. In particular, joint actions were agreed to organize in the near future the 4th Session of the Working Group on Uzbekistan’s accession to the WTO through video conferencing.

On the whole, following the results of the discussions, Phil Hogan emphasized the commitment of the European side to further strengthening interaction with the Uzbek side in all areas of trade, economic, financial, technical and investment cooperation.