On November 5, 2024, a meeting was held at the Competition Promotion and Consumer Protection Committee of the Republic of Uzbekistan with representatives of the U.S. Commodity Futures Trading Commission (CFTC) and the Commercial Law Development Program (CLDP). The meeting discussed issues related to strengthening cooperation between the two countries, regulating commodity exchanges, competition policy, and digital platforms.
The U.S. delegation included Kevin Piccoli (Deputy Director of the CFTC’s Department of International Affairs) and Nancy Doyle (Senior Counsel for International Affairs at CFTC). The delegation also included experts from the U.S. Department of Commerce and the international programs of CLDP.
The Chairman of the Committee, Halilillo Turakhujaev, emphasized the importance of reforms aimed at developing commodity exchanges and introducing futures trading in Uzbekistan. It was also noted that modern trading mechanisms contribute to the further development of the economy, and that cooperation in this area plays a crucial role in enhancing the country’s trade and competitive capabilities.
The meeting identified the key areas of cooperation in the field of commodity exchanges and competition policy:
🔘Learning from the U.S. experience in regulating commodity futures
🔘Providing practical support in drafting regulatory legislation for the implementation of futures trading
🔘Enhancing the qualifications of the Committee’s staff
🔘Exchange of experience in regulating digital platforms.
As a result of the meeting, key steps were identified for the development of future collaborative projects and agreements.
