Delegations from Uzbekistan and Kuwait held the first meeting of the intergovernmental commission on trade, economic and scientific-technical cooperation in Tashkent. The parties agreed to simplify trade procedures and discussed the possibility of signing a Preferential Trade Agreement.
Uzbekistan embarks on a year of efficiency and cost reduction for managers of the economic complex and all state-owned enterprises in 2024, the president stated. The plan aims for a minimum economic growth of 6% and 20 trillion soums reduction in production costs across major industries.
Uzbekistan’s GDP grew by 5.5% in the first quarter of 2023, surpassing forecasts, despite initial concerns due to industrial setbacks from January’s extreme cold weather. Industrial production and construction work demonstrated a significant rebound, contributing to the economic upturn.
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