The result of GSP+: the volume of exports of Uzbek products to Europe increased by 86%

In April 2021, Uzbekistan joined the special GSP+ system of preferences. According to the information of the Ministry of Investments and Foreign Trade, as a result of this, the volume of exports of Uzbek products to Europe increased by 86%.

It was noted that the turnover of goods between Uzbekistan and the European Union increased by 22%. Among the goods categories that showed the greatest growth are chemical industry products (6 times), textiles (90 percent) and food products (65 percent).

The GSP+ system made it possible for Uzbekistan to export 3,000 goods to the European Union without customs duties and 3,200 goods at reduced rates.

As a GSP+ participant, Uzbekistan receives more additional economic benefits than the standard GSP+ scheme, i.e. tariffs on 2/3 of the standard GSP+ line of products will be eliminated.

It is reported that 9 countries are using the GSP+ scheme today, Armenia and Kyrgyzstan are also beneficiaries of the CIS countries.

The GSP+ scheme also imposes a number of obligations. For example, the country undertakes to effectively implement 27 international conventions on human rights, ecology, labor rights, effective management.