On June 27, 2024 Deputy Chairman of the Competition Committee, Farruh Karabayev, held a meeting with the UK Government representative – Chief Economist, Milan Sladoje to discuss bilateral cooperation on various economic and legal aspects.
The meeting consisted of discussing the work carried out within the framework of the “Effective Governance for Economic Development (EGED)” program funded by the UK government and implemented by the World Bank.
Key topics of discussion included:
Law on Competition of the Republic of Uzbekistan: The central theme of the discussion was the Law on Competition in Uzbekistan. Both parties underscored the importance of this law in fostering fair competition and driving economic growth within the country. The recent amendments to the law were particularly highlighted, with insights shared on their potential impact.
Reduction of State-Owned Enterprises (SOEs): Mr. Karabayev and Mr. Sladoje briefly addressed the ongoing efforts to reduce the number of state-owned enterprises in Uzbekistan. This move is seen as crucial in decreasing the state’s direct involvement in the economy and promoting a more competitive market environment. The elimination of exclusive rights in several industrial sectors was also touched upon as a necessary step towards this goal.
Effective Governance for Economic Development (EGED) Program: A significant portion of the meeting was dedicated to discussing the EGED project funded by the UK government and implemented by the World Bank, which has been instrumental in providing international expertise to Uzbekistan. The project has facilitated the involvement of experts from the UK and Canada in reviewing the newly amended Law on Competition.
Future Cooperation Initiatives: Expressing a keen interest in deepening the bilateral relationship, Mr. Karabayev highlighted the potential for further cooperation with the UK’s Competition Market Authority. Specific areas of interest include peer-to-peer support and shared approaches to reducing state presence in the economy. Such cooperation is expected to bring valuable insights and methodologies to Uzbekistan’s reform efforts.
Impact Analysis of Competition: The Deputy Chairman also emphasized the need for resources through the EGED project to conduct a comprehensive analysis of the impact of competition on economic growth and poverty reduction in Uzbekistan. This analysis is anticipated to provide critical data to guide future policy decisions and reforms.
At the end of the meeting, the parties agreed to further develop and support bilateral cooperation and make wide use of new opportunities.
