Tashkent, Uzbekistan (UzDaily.com) – The meeting of the CIS Council of Heads of States held in Bishkek on 13 October, according to D.V. Trostyansky, Doctor of Economics, clearly demonstrated that thanks to joint efforts, the Commonwealth of Independent States is consistently changing its architecture and turning into a platform of multifaceted and mutually beneficial cooperation.

According to him, all participants of the event in their speeches noted the common challenges and threats facing the CIS countries in the context of increasing global geopolitical tensions. Thus, despite the slowdown in economic growth, the volume of trade turnover of the member states in the first half of 2023 amounted to US$20.6 billion, which is 4.4% higher than in the same period of the previous year. The volume of Uzbekistan’s foreign trade with the CIS countries has increased by 5% since the beginning of this year.

At the same time, the CIS space is a region of enormous economic opportunities for the long-term sustainable development of all its participants.

The effectiveness of countering global challenges and threats is directly linked by the heads of the member States of the Association with the consolidation of joint efforts aimed at deepening a multifaceted partnership, one of the main drivers of which is industrial cooperation.

The CIS Council of Heads of Governments, held in Sochi on 8 June 2023, approved the Concept for the Development of Industrial Cooperation of the member States of the Commonwealth of Independent States and a set of measures for the development of the Organization for the period up to 2030. These important documents fully reflect the position of the CIS member states on priorities and mechanisms of interaction in the field of industrial cooperation development.

The objectives of the Concept are the creation of new high–tech industries, accelerated development and modernization of industry in the CIS member states, its technological renewal, increased production and export of competitive, innovative and knowledge-intensive products with a high share of added value, achievement of international standards for product quality. This will ensure the creation of new highly qualified jobs, improve the quality of human capital, and have a positive impact on the well-being and quality of life of the population of our countries.

It is a positive fact that an integral part of this document is a set of measures for the development of industrial cooperation of the CIS member states for the period up to 2030. It envisages the implementation of an appropriate industrial policy by the Commonwealth states aimed at promoting the modernization and development of industries and industries, building their cooperative chains.

This will strengthen technological sovereignty and ensure innovative self-sufficiency in the backbone sectors of the economy of the Organization’s countries and increase their export potential.

In his speech at the meeting of the Council, President of Uzbekistan Shavkat Mirziyoyev noted that today the republic has formed a portfolio of joint investment projects with CIS countries worth more than US$25 billion.

In this regard, the head of our state proposed, within the framework of the CIS Industrial Policy Council, to develop a set of additional measures to stimulate mutual investments and promote projects, including issues of their financial support and insurance coverage. 

Taking into account the difficult geopolitical situation, partnership in the energy and food sectors through the introduction of advanced technologies and strengthening cooperation in these sectors of the economy are highlighted as priorities.

Uzbekistan also expressed readiness to hold a Forum of industrial cooperation and innovative developments of the CIS countries within the framework of the industrial week "INNOPROM" scheduled for April 2024 in Tashkent.

The Head of our state emphasized that there are many barriers to the formation of a full-fledged free trade zone. To eliminate them, it was proposed to revise the provisions of the Free Trade Zone Agreement in terms of exemptions and bring them into full compliance with the main goals and objectives. 

Among other measures, it was also proposed to synchronize national import substitution programs, consider the possibility of providing preferential access to the public procurement market on a reciprocal basis, adopt a program to support the creation of joint wholesale distribution and logistics centers, stimulate the development of electronic commerce, including by expanding existing sites. The implementation of all these measures will contribute to ensuring the free movement of goods and capital in the CIS space.

The results of the meeting of the CIS Council of Heads of State show that the Commonwealth of Independent States remains a reliable, popular and effective format of cooperation, which allows its participants to build relations solely on the principles of strategic partnership and mutual benefit.