Uzbekistan's foreign trade tends to be stable and good



from the data, Uzbekistan's foreign trade volume decreased by 11.6% year-on-year in the first quarter of this year, and the performance seems to be poor. It's not. In fact, the failure to export gold is the main reason for the decline in its foreign trade data. Due to fluctuations in international gold prices, Ukraine has suspended gold exports since September last year. Excluding this data, Ukraine's exports actually increased by 6.2% in the first quarter, performing well

at a time when the international epidemic prevention and control situation is still grim, Uzbekistan, located in Central Asia, continues to maintain a steady momentum of economic development with strong epidemic prevention measures and appropriate economic stimulus policies. Statistics show that in the first quarter of this year, Ukraine's GDP increased by 3% year-on-year, and the steady recovery of industrial production also provided strong support for the stable operation of Ukraine's foreign trade

according to the data of the National Statistical Commission of Ukraine, the total foreign trade of Ukraine in the first quarter of 2021 was US $7.105 billion, a year-on-year decrease of 11.6%. Among them, the export was 2.398 billion US dollars, down 26.5%; Imports reached US $4.707 billion, down 1.3%. From the data alone, Ukraine's foreign trade performance in the first quarter does not seem to be good. However, after analysis, it can be found that the actual performance of Ukraine's foreign trade is much better than the data, and there is a continuous upward trend

non export of gold in the first quarter was the main reason for the decline of Ukraine's foreign trade data compared with the same period last year. Last year, gold was the main export commodity of Ukraine, with an annual export volume of US $5.804 billion, accounting for 38.4%. Due to fluctuations in international gold prices, Ukraine has suspended gold exports since September last year. Therefore, excluding gold exports, Ukraine's exports performed well in the first quarter, with a real growth of 6.2%

meanwhile, industrial products have become the largest export commodity of Ukraine, accounting for 38% of Ukraine's exports. Among them, the performance of textiles is particularly bright. In the first quarter, textile exports reached US $638 million, a year-on-year increase of 37.8%, accounting for 26.6% of Ukraine's exports. This is inseparable from Ukraine's industrial and export policies to vigorously promote the development of the textile industry and encourage the export of high value-added products in recent years, as well as Ukraine's efforts to actively explore the sales market

Ukraine also continued to reap good news in expanding the EU market. In May last year, Ukraine formally applied for super GSP treatment after joining 27 international conventions on human rights protection, labor standards and environmental protection in accordance with the requirements of the EU. After reviewing the report on Ukraine's implementation of international conventions, the European Commission adopted a resolution in advance at the end of November last year and agreed to Ukraine's application. Subsequently, the resolution was considered and adopted by the European Council and the European Parliament. The EU's super GSP treatment for Ukraine has officially entered into force on April 10 this year. Since then, Ukraine has unilaterally enjoyed preferential tariff policies for exports to the EU, doubling the number of duty-free exports to the EU to 6200

thanks to this, Ukraine's textile tariff on EU exports has been reduced to 0 from the previous 17%, and the product competitiveness has been further improved. It is estimated that Ukraine's textile exports to the EU will increase to US $150 million this year and are expected to reach US $1.2 billion by 2025

at the same time, the trade between Ukraine and its major trading partners continues to remain stable and smooth. Data show that China continues to maintain its position as Ukraine's largest trading partner. In the first quarter, the bilateral trade volume between China and Ukraine was US $1.421 billion, a year-on-year increase of 4.3%. Among them, Ukraine's exports to China reached 471 million US dollars, a year-on-year increase of 17.9%. At present, China and Ukraine are accelerating the negotiation and signing of the China Ukraine medium and long term economic and trade cooperation plan, jointly promoting the facilitation of trade and investment between the two countries, and working together towards the goal of promoting the volume of bilateral trade to exceed US $10 billion as soon as possible

Ukraine officially became an observer state of the Eurasian Economic Union in December last year, opening a new stage of cooperation with the Eurasian Economic Union. In the first quarter, the trade volume between Ukraine and the Eurasian Economic Union was US $2.392 billion, accounting for 33.7% of Ukraine's foreign trade. Among them, the bilateral trade volume between Ukraine and Russia, Kazakhstan, Kyrgyzstan and other alliance member states was US $1278 million, US $867 million and US $188 million respectively, with a year-on-year increase of 0.7%, 27.8% and 0.4% respectively

at the end of April, Ukrainian Prime Minister aripov led a delegation to Russia and attended the regular meeting of the Intergovernmental Council of the Eurasian Economic Union. During this meeting, aripov and the chairman of the Executive Committee of the Eurasian Economic Commission, miyasnikovic, jointly signed the memorandum of cooperation between the Eurasian Economic Commission and the government of Uzbekistan and the joint action plan aimed at promoting the implementation of the memorandum. The two sides will continue to strengthen cooperation in trade policy, customs and technology supervision, consumer protection, labor rights and social security. It is foreseeable that the close interaction between Ukraine and the Eurasian Economic Union will contribute to the further development of Ukraine's foreign trade. (Economic Daily - China economic net reporter Li Yuanyuan in Tashkent)

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