THE DEVELOPMENT OF ECONOMIC RELATIONS BETWEEN NEW UZBEKISTAN AND EUROPEAN COUNTRIES

Abstract

Since 2017, Uzbekistan has made significant progress in changing its economy and society. The government is now moving on to the next stage of economic reforms, which will address fundamental constraints including the lack of factor markets and the government's economic control. For instance, the country's economy was one of the few in Central Asia to escape negative growth in 2020, thanks in part to changes to liberalize pricing and eliminate constraints to local and international trading. Globalization of international economic relations, growth and improvement of economic realtions among nations, reduction of trade barriers, and rising interdependence of nation-states are all hallmarks of current world economic development. Uzbekistan's continued inclusion into the global economy is mainly linked to the country's economic reforms and structural development. Foreign economic relations with European member countries have a specific importance in the integration into the global economy.