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Uzbekistan to join EAEU as an observer

Proposal on cooperation of Uzbekistan with the Eurasian Economic Union as an observer state was approved. The national news agency of the Republic of Uzbekistan reported.

A meeting was held in the Cabinet of Ministers to discuss the issue of submitting conclusions and proposals to the chambers of the Oliy Majlis based on the results of an analytical and comprehensive assessment of cooperation with the Eurasian Economic Union (EAEU). The message of the President of Uzbekistan Shavkat Mirziyoyev to the Parliament indicated that the government should submit this issue for discussion to the chambers of Oliy Majlis, for a detailed consideration with representatives of the people and at the same time noted the need to rely primarily on the will of the people, to take their interests into account.

«The results of the reforms carried out in Uzbekistan at a new stage are connected with integration into the global economy, and especially with the development of trade and economic ties with neighboring countries. Economic integration plays an important role in increasing the competitiveness of products, reducing their costs, import of new technologies, expansion of transit trade, and active development of market reforms. In the process of current globalization, the country needs to comply with the world production system, the requirements of the international market and the processes of economic integration,» the message said.

For a detailed study and in-depth analysis of cooperation between Uzbekistan and the EAEU, the working group studied 16 major sectors of the country’s economy. In addition, at a meeting of the Cabinet of Ministers of the republic, studies of leading independent consulting companies on this issue and research institutions, proposals and conclusions of foreign and local experts were considered. Expert opinions on this issue have been considered.

«Based on the results of a comprehensive study of the impact of cooperation with the Eurasian Economic Union on the national economy of Uzbekistan, measures have been outlined to be implemented by the relevant ministries and departments; the proposal on cooperation with the EAEU as an observer state has been approved. Following the meeting, it was decided to submit to the Oliy Majlis chambers the conclusions and proposals developed on the basis of an analytical and comprehensive assessment,» the media outlet said.