ENHANCING FOREIGN ECONOMIC RELATIONS AS A DRIVING FACTOR IN THE DEVELOPMENT OF THE NATIONAL ECONOMY

Khaitova Feruza Bahrom Kizi

GREEN ECONOMY AND DEVELOPMENT, 2025, vol. 3

Abstract: This article explores the significance of enhancing foreign economic relations as a key driver of Uzbekistan’ssustainable economic development. In the context of globalization, foreign trade, investment cooperation, and transportlogisticsintegration are identified as priority areas that ensure the stability of the national economy and its competitivenessin global markets. The study analyzes the goals outlined in the Development Strategy of New Uzbekistan (2022–2026),including the increase of export capacity to 30 billion USD by 2026, and examines the reforms aimed at boosting privatesector participation and supporting regional exporters. Empirical data reveal that Uzbekistan’s foreign trade turnover rosefrom 36.3 billion USD in 2020 to 65.9 billion USD in 2024, demonstrating steady progress in diversification and growth.The article further highlights the role of foreign direct investment (FDI), international financial institutions, and regionalcooperation platforms in supporting industrial modernization and technological advancement. Special attention is givento transport corridors, such as the Trans-Afghan route and TRACECA initiative, which strengthen Uzbekistan’s role asa transit hub in Eurasia. The findings confirm that foreign economic relations not only enhance fiscal revenues but alsopromote innovation, entrepreneurship, and long-term integration into global value chains, laying the foundation for acompetitive and knowledge-based economy.

Keywords: Foreign economic relations; Uzbekistan economy; globalization; export diversification; foreign direct investment; trade liberalization; regional integration; transport corridors; logistics; competitiveness; sustainable growth; global value chains; fiscal revenues (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:teu:ged000:v:3:y:2025:id:7775

DOI: 10.5281/zenodo.17577002

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