Uzbekistan Trade Agreements
It describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States. Contains websites and other resources where U.S. companies can get more information on how to use this NOTE: No business data is available with Uzbekistan. Uzbekistan has signed trade agreements with 45 countries that offer the most treat for nations. It has also signed bilateral investment agreements with 53 countries, five of which have not entered into force. In 2020, the country became an observer in the Eurasian Economic Union (EAEU). Uzbekistan is not a member of the WTO, but it is working on accession. In 2004, Uzbekistan and Russia signed a strategic framework agreement including free trade and investment concessions. In November 2005, the government signed the “Treaty on Alliance Relations” with Russia with provisions on economic cooperation. The 2004 agreement between Uzbekistan and Ukraine removes all barriers to bilateral trade. Uzbekistan`s accession to the CIS Free Trade Area was formalized in 2014. Uzbekistan is currently our 114th largest trading partner, with a total of $540 million (two and also) merchandise trade in 2019. Exports of goods amounted to USD 506 million; Imports of goods amounted to $34 million.
The U.S. trade surplus with Uzbekistan was $471 million in 2019. According to the Ministry of Commerce, U.S. merchandise exports to Uzbekistan were estimated at 400 jobs in 2015 (latest data available). . U.S. Goods Trade with Uzbekistan (millions of dollars) The “Treaty between the Government of the Republic of Uzbekistan and the Government of the United States of America for the Promotion and Mutual Protection of Investments” was signed on December 16, 1994 in Washington, D.C. and ratified shortly thereafter by the Uzbek Parliament.
However, the U.S. government did not act to make this agreement come into force. In 2004, Uzbekistan signed the Regional Framework Agreement on Trade Investment (TIFA) with the office of the US Trade Representative and four of its Central Asian neighbours, Tajikistan, Turkmenistan, Kazakhstan and Kyrgyzstan. In 2019, Uzbekistan`s GDP was estimated at $60.5 billion (current exchange rate); real GDP has increased by an estimated 5.6%; and the population was 33 million. (Source: IMF).