Uzbekistan Showcases Economic Reform Achievements at WTO in Geneva

Tashkent, Uzbekistan (UzDaily.com) — Farrukh Karabayev, Deputy Chairman of the Committee for the Development of Competition and Consumer Protection, delivered a detailed presentation at the World Trade Organization headquarters in Geneva, Switzerland, during the seminar “Uzbekistan’s Economic Reforms to Support WTO Accession: Private Sector Development and Redefining the Role of the State.” The event was held as part of the 11th meeting of the Working Party on Uzbekistan’s accession to the WTO.

In his address, Karabayev highlighted Uzbekistan’s significant achievements in creating a level playing field for business and strengthening the competitive environment as part of the large-scale economic reforms led by President Shavkat Mirziyoyev.

Key reform areas include reducing the role of the state in the economy, abolishing exclusive rights, implementing principles of competitive neutrality, and adopting the new Competition Law (2023), which provides modern tools to prevent anti-competitive practices.

Among the results achieved, Karabayev noted a reduction in the state’s share in the economy from 55% to 30% since 2020, a decrease in state support from 22% to 9%, a 67% reduction in the number of state-owned enterprises, and a 50% increase in the number of small and medium-sized enterprises, reaching 485,000.

Uzbekistan has also successfully implemented price liberalization, structural separation of natural monopolies in the energy and aviation sectors, and the establishment of independent sectoral regulators. These measures have strengthened competition in more than 25 industries, including civil aviation, agriculture, and digital markets.

The next phase of reforms envisions the demonopolization of 17 sectors, full liberalization of the energy and transport industries, and further reinforcement of competitive neutrality principles. The overarching goal is to double GDP by 2030 and increase the private sector’s share to 85%.

In conclusion, the Committee representative reaffirmed Uzbekistan’s commitment to aligning national legislation with WTO principles and developing cooperation with international partners to ensure sustainable and inclusive economic growth based on fair competition.