Uzbek president Szawkat Mirzijoev noted that exports have doubled in fresh years and abroad trade in the country has reached 57% of the full gross home product. According to the press secretary of the head of the state, Szerzod Asadow, these figures show how much the country's economy depends on the situation on planet markets.
As Mirzijoev stressed, 162 types of home products are now considered to have a competitive advantage on planet markets. This trend is confirmed by Harvard University, whose analysts improved Uzbekistan's position in the economical Complexity Index, moving the country from 105th to 80th place.
It is clear that global change in the planet will besides be reflected in national indicators. Furthermore, as the president pointed out, the problem is not even the duties and their amount, but alternatively the fact that the rules and standards developed by global institutions, which provided unchangeable relations and common trust between countries, have lost their effectiveness. "Of course, these processes can lead to a downturn in the global economy and a simplification in global trade" said Mirzijoev.
According to the president, trade turnover is expected to drop by $3.5 trillion due to advanced tariffs alone, and inflation will increase by 7.5-8%. And the fact that the financial markets have lost $10 trillion in a fewer days should be a signal to Uzbekistan.
As the president of Uzbekistan stressed, the biggest hazard is the disruption in the supply chains and the creation of added value, as occurred during the COVID pandemic. The most susceptible sectors will be sectors that drive the economy: textile, electrotechnical, automotive, food and another sectors with a large share of global exports.
Mirzijoyev suggested that countries that have introduced advanced import duties will now be able to conduct aggressive policies to enter areas where Uzbekistan actively exports its products. "I repeat one more time – those who say that the present situation in the planet does not concern us make a immense mistake. Under specified circumstances, we must take bold steps, relying only on our own strengths and interior capabilities" said the head of state.
At the same time, many officials are inactive unaware of the seriousness of the problem, do not realize the request to increaseeffort and individual attention to production and export issues and closer cooperation with entrepreneurs. It besides turned out that sometimes the barriers to business become themselves chokimi (heads of regional, urban and territory administrations) and the staff of ministries. The president warned that the strongest measures would be taken against specified officials.
Source: Fergana Agency
BIS improvement – survey Bulletin
