Uzbekistan's President Shavkat Mirziyoyev held a meeting on increasing investments and exports in agriculture and food industry. He emphasized the need for addressing issues concerning the sectors. Over 100 active exporters and logistics representatives were invited to the event.
Last year, Uzbekistan produced 23 million tons of fruit and vegetable products and goods worth 86 trillion UZS in the food industry. The potential export value was estimated at $5 billion, yet it only reached $2 billion in 2023 due to organizational issues.
Uzbekistan expanded to over 10 new markets in 2023. However, 80% of exports were to markets with prices below $1 per kilogram. The country exported 126 thousand tons of grapes to 52 countries, with a significant portion sold below $1 per kilogram.
President Mirziyoyev highlighted the underutilization of land and inadequate collaboration between exporters and farmers in certain regions. He criticized local officials for ineffective management and lack of projects in some areas.
The President aims to launch 528 food-related projects worth $833 million this year. The goal is to produce goods worth at least 100 trillion UZS and export $1 billion in the food industry. Challenges include financing, competition, and operational issues in food enterprises.
Mirziyoyev stressed the importance of export for economic stability and inflation control. He encouraged initiatives to enhance agricultural exports to $3.5 billion. Uzbekistan's foreign trade turnover in 2023 reached $62.57 billion, with a trade deficit of $13.7 billion.
Gold and foreign exchange reserves decreased to $32.2 billion by March 1, with a currency exchange difference of $11.4 billion in 2023. The President's proactive approach aims to address export challenges and enhance the country's economic performance.
