Мой первый журнал ISRS-Journal-АНГЛ - Page 70

The basis of multilateral and bilateral relations of Uzbekistan with the Commonwealth states are not only territorial proximity, deep historical roots, cultural and spiritual ties, common destinies of the peoples inhabiting them, but also mutual economic conjugacy of the CIS countries, which remain one of the most important economic partners of our state. They account for 40% of the total foreign trade of the republic. Since the beginning of 2018, the volume of trade between Uzbekistan and the Commonwealth states has increased by 70%. In this regard, the decision of our country to resume its participation in the CIS Economic Council and readiness to join the activities of a number of branch bodies of the organization contributes significantly to the effectiveness of its work. Meanwhile, it is important to note that Uzbekistan’s interest in preserving and deepening economic ties, including at the regional level, is due not only to the historically established intertwining of the economies of the CIS countries, but also to fierce competition in the world market, dictating the need to protect the national producer. World practice shows that only under the condition of joint adaptation to geo-economic realities, coordinated participation in solving global economic problems, the CIS states will be able to provide an effective response to the challenges of globalization. Favorable prospects for mutual support and coordination of activities of the Commonwealth states in the economic sphere are due to the presence of the potentially capacious CIS market. This allows not only to preserve traditional economically sound production relations, but also to productively develop them. A free trade regime operates in the Commonwealth space, based on a system of bilateral trade agreements. At the same time, the early formation of a full-fledged free trade zone in the Commonwealth without any exceptions and limitations will allow not only to ensure fair competition in the national markets, but also expand economic cooperation within the framework of the CIS provisions. It seems that the achievement of this task can be facilitated by the intensification of the format of cooperation in expanding the industrial cooperation of the participating states. First of all, it is the development of production-technological and investment ties. The mechanism of cooperation at the CIS site makes it possible to concentrate investment, technical, structural 72