Mutual trade: an important element of Uzbekistan’s food security
Almaty, 25 September 2024. Stanislav Chuyev, Senior Analyst at the Centre for Sector Analysis, Directorate of Research, Eurasian Development Bank (EDB), presented at the Asia Grains&Oils Conference 2024 in Tashkent. His presentation focused on Uzbekistan’s current macroeconomic situation, food security and agro-industrial potential.
The speaker noted that amid structural changes in the global economy and international trade Central Asian countries in general and Uzbekistan in particular are experiencing high economic growth rates. With the regionalisation of global processes, the region is becoming increasingly attractive to major global investors.
He also emphasised that, thanks to the development of agribusiness, the Eurasian region as a whole can ensure its food security. The region’s countries are net exporters of food in terms of energy value, although some imbalances exist at the country and product levels. Specifically, Uzbekistan has significant needs for imported grain, vegetable oils and sugar. Therefore, both intraregional trade and access to external markets are important for food security.
“Mutual trade in agribusiness products is an important element of Uzbekistan’s food security. Over the past twenty years, mutual agricultural exports within the region have grown 8.5 times,” Stanislav Chuyev highlighted.
The full version of the EDB’s research on food security and the agro-industrial potential of the Eurasian region is available here: https://eabr.org/en/analytics/special-reports/food-security-and-agro-industrial-potential-of-the-eurasian-region/
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB Media Centre:
+7 (727) 244 40 44, ext. 6148, 3730