TASHKENT: President Shavkat Mirziyoyev stressed the need for a significant shift in Uzbekistan’s export strategy, especially considering the economic challenges faced by key trading partners.
He was addressing to government officials in Tashkent on Thursday.
Mirziyoyev highlighted the impact of devaluation in major markets and global conflicts, leading to a decline in exports to those nations.
Quoted by his press secretary, Sherzod Asadov, Mirziyoyev outlined a target to achieve a 30 percent annual increase in the overall volume of exports. To drive this change, Deputy Prime Minister Jamshid Khodjayev, responsible for investment and foreign trade, has been given a timeline by the end of the quarter to implement necessary adjustments. Mirziyoyev said that failure to do so may prompt a reconsideration of Khodjayev’s suitability for the position.
Underscoring his commitment to the cause, President Mirziyoyev dismissed Deputy Investment, Industry, and Trade Minister Badriddin Abidov on January 18, citing deficiencies in his work. Additionally, local officials deemed responsible for the decline in foreign trade within their regions faced similar consequences.
Official data for January-November 2023 indicated a 26.2 percent increase in Uzbekistan’s trade turnover, reaching $57.3 billion. Of this, exports amounted to $23.2 billion. Despite China representing 21.3 percent of the trade, exports to China experienced a 9.6 percent decline ($2.3 billion) over the 11-month period. This trend was largely attributed to reduced natural gas sales abroad.
Mirziyoyev attributed the challenges in advancing the export agenda to inefficiencies within the system. Despite allocating $200 million as export credits, the presidential administration expressed dissatisfaction with the officials overseeing the allocation process, citing a lack of effectiveness.
