Uzbekistan’s Generalised System of Preferences Plus (GST+) status has been extended for four years by the European Union with the country’s GSP+ status now ending on December 31, 2024.
The initiative encouraged around 628 enterprises in Uzbekistan to export local products worth $647 million. They exported textile industry products worth $177.4 million to the EU markets.
The extension also enabled Uzbek exporters to save €28 million in import duties and grow their private sector tenfold between 2019 and 202.
At a recent press conference, European Union Monitoring Commission GSP+, appreciated the progress made by Uzbekistan in implementing the UN conventions by introducing new laws on women's rights and gender equality, combating violence, improving economic and social rights.
The beneficiary status of the GSP+ also enables Uzbekistan to expand trade and economic relations with European business representatives besides creating new jobs in the country.
