EEC to sign joint action plan with Uzbekistan for 2024-2026

ArmInfo.Today, there are plans to sign a joint action plan between the Eurasian Economic  Commission (EEC) and the Republic of Uzbekistan for 2024-2026. It aims to enhance commerce and foster economic cooperation. Armenian Prime Minister Nikol Pashinyan made this announcement during an  extended meeting of the Eurasian Intergovernmental Council, currently being held in Yerevan.

He emphasized that the Armenian side gives great importance to  negotiations on concluding free trade agreements with third countries  aimed at fostering mutually beneficial cooperation. The Prime  Minister stated that in order to optimize external interactions as  much as possible, it is important to conduct a thorough analysis of  existing trade agreements with third countries to identify any  deficiencies and areas for improvement. In addition, it is necessary  to carefully evaluate the potential for introducing new provisions to  boost trade levels, define clear criteria for evaluating the  effectiveness of interaction, such as trade level, investment flows,  and infrastructure development.

"Regular monitoring and evaluation of cooperation results will help  make timely adjustments to strategies and agreements, ensuring the  reliable and sustainable development of trade relations," Pashinyan  said.  Note that according to the Statistical Committee of the  Republic of Armenia, the foreign trade turnover between Armenia and  Uzbekistan decreased by 11.2% in January-July 2024, totaling $17.3  million. At the same time, exports increased by 16.7% to $7.1  million, despite a 23.9% decrease in imports to $10.2 million.