EU / Uzbekistan: New partnership on critical raw materials
At a time when the criteria of Corporate Social Responsibility (CSR) are increasingly present in international relations, agreements on sustainable value chains are increasing.
For example, the EU, the United States and other members of the Mineral Security Partnership (MSP), joined by Kazakhstan, Namibia, Ukraine and Uzbekistan, launched the Mineral Security Partnership Forum. The aim is to establish mutually beneficial partnerships in the value chain of managing trade relations with resource-rich countries.
To date, Uzbekistan is still not part of the WTO and has long favoured domestic production over imports with very high tariffs.
The monetary reform in 2017 followed by the revision of customs duties in 2019 and the end of forced labour organised by the state with a projected increase in the minimum wage of 14% between 2024 and 2026 show the government's openness to the world. China and Russia are still important suppliers but trade with other parties such as Europe is growing year by year: Uzbeks import our transport equipment, pharmaceuticals and cosmetics and we buy them mainly precious metals such as uranium, but new products such as textiles made in Uzbekistan are coming.
It is in this context that the EU and Uzbekistan signed the protocol for a strategic partnership on critical raw materials, with the main objectives of sustainable and responsible procurement, research and innovation cooperation.
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