Uzbekistan became the first country to be officially admitted to the UK enhanced framework generalised scheme of preferences (EF GSP) on November 1 after intense efforts by both sides to conclude the process in only six months. A key factor behind granting the status was that Uzbekistan ratified 27 key conventions in the areas of human rights, labour standards, environment and sound governance.
The development sends a hugely positive signal of intent from both countries to turbo boost the UK-Uzbekistan trading relationship, particularly now that there will be zero import duty on more than 7,800 products made in Uzbekistan, according to a UK government press release.
The GSP provides Uzbekistan with access to the world’s fifth largest economy and the most international consumer and retail market in the world worth over £437 billion. For the United Kingdom, it facilitates access to a fast-growing and developing market, which is a key hub to access the wider region, as well as Uzbekistan’s unique textile and agricultural products.
Uzbekistan became the first country to…
