SIGNIFICANCE OF JOINING THE WORLD TRADE ORGANIZATION IN THE DEVELOPMENT OF UZBEKISTAN’S FOREIGN TRADE

Sharipov Farxod Goibovich,

 TMI, DsC, ass.professor

E-mail: 111fafq@mail.ru

ORCID: 0000-0002-9309-4151

 

Abstract. This article discusses the impact of Uzbekistan’s accession to the World Trade Organization (WTO) in 1994 on the country’s economy. By joining the WTO, Uzbekistan gained access to a global trading system, which has opened up markets for its exports and attracted foreign direct investment. The article elaborates on the benefits of WTO membership, including the adoption of international trade standards and regulations and the development of trade-related institutions in the country. However, the article also highlights challenges faced by Uzbekistan. Overall, the article provides insight into Uzbekistan’s journey of economic diversification in the context of WTO membership.

Keywords: World Trade Organization, foreign trade, export, economic growth, integrate, business, to increase, trade-related institutions.

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