UWED Rector Participates in the Mercosur Leaders’ Summit

An Uzbek delegation headed by Sodyq Safoev, First Deputy Chairperson of the Senate of the Oliy Majlis, Rector of the University of World Economy and Diplomacy participated in the Summit of MERCOSUR Leaders and Partner Countries held in Asunción, Republic of Paraguay.

During the summit, participants discussed the development of the services sector, the improvement of transport and logistics infrastructure, and ways to enhance the effectiveness of trade diplomacy. Particular attention was also paid to Paraguay’s role as an important transport, logistics and trade hub connecting the South American economy with global markets.

Speaking at the plenary session dedicated to the 35th anniversary of the signing of the Treaty of Asunción, Sodiq Safoyev highlighted Uzbekistan’s progress in the process of accession to the World Trade Organization and the reforms being implemented in this area.

It was also emphasised that Uzbekistan is interested in further expanding cooperation with MERCOSUR countries in trade and investment, agriculture, food security, green energy, transport and logistics, education, science, tourism, and cultural and humanitarian exchanges.

On the sidelines of the summit, the parties considered opportunities to increase trade between Uzbekistan and Paraguay, expand mutual market access, and implement joint projects in the agro-industrial, energy, mining, chemical and textile sectors.

The parties also exchanged views on establishing an intergovernmental commission, developing an industrial cooperation programme, and launching mutually beneficial cooperation in promising areas.

For reference, MERCOSUR, the Southern Common Market, was established in 1991 to create a common market, ensure the free movement of goods, services and factors of production, and coordinate the economic and trade policies of its member states. It is one of the largest regional integration associations in South America.

MERCOSUR currently comprises Argentina, Brazil, Paraguay, Uruguay and Bolivia. The combined population of these countries is nearly 300 million, while their total gross domestic product amounts to approximately USD 3 trillion.