The Central Asian nation of Uzbekistan has participated for the first time in a session of the Eurasian Economic Union (EAEU). The country was granted observer status in the Union at an EAEU meeting on 11 December 2020. The meeting on Friday (29 January) was held in the form of a video conference. The meeting discussed issues related to the expansion of trade and economic cooperation and the removal of obstacles to the internal market's functioning.
The meeting was attended by the Minister of Finance of the Republic of Kazakhstan Yerulan Zhamaubayev, the Chairman of the Eurasian Economic Council Alikhan Smailov, Deputy Prime Minister of the Russian Federation Alexei Overchuk, Acting Prime Minister of the Kyrgyz Republic Artem Novikov, Deputy Prime Minister of the Republic of Belarus Igor Petrishenko, Deputy Prime Minister of the Republic of Armenia Mher Grigoryan, and Chairman of the EAEU Board Mikhail Myasnikovich.
Uzbekistan was represented by Deputy Prime Minister and Minister of Investment and Foreign Trade of the Republic of Uzbekistan Shukhrat Umurzakov.
At the meeting the Uzbek delegation outlined the main areas of interaction between Uzbekistan and the EAEU in its capacity as an observer country. The importance of building constructive cooperation based on the principles of equality, mutual benefit and respect for each other's interests was highlighted, Uzbek government sources said.
The meeting agenda covered a wide range of topics in the areas of trade, economy, investment, and industrial cooperation. Particular attention was paid to the importance of strengthening industrial cooperation in priority areas such as mechanical engineering, energy, electrical engineering, textile and pharmaceutical industries, and agriculture.
It should be noted that the volume of trade between Uzbekistan and the countries of the European Economic Area has increased by 75% in the last four years and that the countries of the European Economic Area now account for more than 30% of Uzbekistan's foreign trade turnover.