PRIORITY DIRECTIONS OF UZBEKISTAN’S FOREIGN TRADE POLICY AND THEIR ECONOMIC OUTCOMES
Keywords:
Uzbekistan, foreign trade policy, export diversification, trade deficit, regional integration, China, Russia, trade modernization, structural reforms, economic outcomesAbstract
This paper analyzes the priority directions of Uzbekistan’s foreign trade policy and evaluates their economic outcomes during 2024. It focuses on the country's efforts to diversify export markets, modernize trade infrastructure, and strengthen regional and global trade partnerships. Based on national statistics and policy documents, the study identifies key trade trends, including increased exports in agriculture, chemicals, and energy products, along with reduced dependence on gold. Despite external challenges such as geopolitical tensions and regional inflation, Uzbekistan achieved stable trade growth, narrowed its trade deficit, and enhanced integration into international markets. The paper concludes that continued structural reforms, improved competitiveness, and strategic trade agreements are essential for sustaining long-term growth.
References
1. Mirziyoyev, Sh. (2022). Uzbekistan – 2030 Development Strategy. Tashkent: Official Presidential Publications.
2. Asian Development Bank. (2024). Uzbekistan: Economic Outlook 2024. Retrieved from https://www.adb.org
3. International Monetary Fund. (2024). Republic of Uzbekistan: 2023 Article IV Consultation – Staff Report. IMF Country Report No. 24/112. Washington, D.C.: IMF.
4. World Bank. (2023). Uzbekistan Country Economic Memorandum: Pathways to Inclusive and Sustainable Growth. Washington, D.C.: World Bank Group. https://documents.worldbank.org
5. Ministry of Investments, Industry and Trade of the Republic of Uzbekistan. (2024). Foreign Trade Statistics of Uzbekistan (January–December 2023). Tashkent: MIIT.
6. United Nations Conference on Trade and Development (UNCTAD). (2023). World Investment Report 2023: Investing in Sustainable Energy for All. Geneva: UNCTAD.
7. SpecialEurasia. (2024). Economic Developments and Strategic Trends in Central Asia: Focus on Uzbekistan. Rome: SpecialEurasia Reports.
8. EBRD. (2023). Uzbekistan Country Strategy 2023–2028. European Bank for Reconstruction and Development. Retrieved from https://www.ebrd.com
9. Statistika agentligi huzuridagi Davlat statistika qoʻmitasi. (2024). Oʻzbekiston Respublikasining tashqi savdo aylanmasi bo‘yicha statistik byulleten. Tashkent.
10. Ziyadullaev, N., & Ganiev, I. (2023). Uzbekistan's Foreign Trade Priorities in the Context of Regional Integration. Journal of Central Asian Economic Research, 4(2), 55–68. https://doi.org/10.2139/UzbekTradePolicy.2023
11. Mirzayev, A. (2022). Trade Liberalization in Uzbekistan: Between Reform Momentum and Structural Constraints. Central Asia Journal of Economic Policy Studies, 11(1), 45–62.