At the Consultative Meeting of the Heads of State of Central Asia, Uzbekistan’s President Shavkat Mirziyoyev proposed a comprehensive regional Program to promote regional cooperation and integration. This Program includes the formation of sustainable trade and logistics chains, the opening and expansion of cross-border trade and cooperation centers, the harmonization of legislation and the elimination of barriers to mutual trade, the creation of unified electronic platforms for customs administration, sanitary and phytosanitary control, certification of the origin of goods, and the launch of a unified regional e-commerce platform.
The international e-commerce market is expected to reach $27.1 trillion by the end of 2027, and the retail turnover in Central Asia is estimated to be $60 billion in 2022, with e-commerce accounting for more than 15%. Uzbekistan is the fastest-growing e-commerce market in the region, with a cumulative average annual growth rate of 40% in 2023-2027 and a market volume of $2.6 billion by 2027. The country has also introduced tax incentives for e-commerce participants, such as charging only 2% tax on online income.
The launch of a unified regional e-commerce platform will thus create new jobs, increase company income, introduce advanced technologies, strengthen trade, economic, and investment cooperation, and contribute to the overall economic development of the region. This platform will be a catalyst for Central Asian economic growth, providing equal opportunities for companies, bolstering entrepreneurship, and making online shopping accessible, convenient, and safe.
Shavkat Alimbekov,
Leading Researcher at the International Institute for Central Asia