DECISION OF INTERSTATE COUNCIL EURASEC

of January 25, 2006 No. 262

About the Report on the activities which are carried out by the Republic of Uzbekistan directed to accomplishment of obligations according to the introduction in members of EurAsEC and on the Conclusion of the Working group on questions of acceptance of the Republic of Uzbekistan in members of EurAsEC about accomplishment of the conditions by the Republic of Uzbekistan necessary for the introduction in associates

Interstate Council of Eurasian economic community (at the level of heads of states) solved:

1. Take into consideration the Report on the activities which are carried out by the Republic of Uzbekistan directed to accomplishment of obligations according to the introduction in members of Eurasian economic community, and the Conclusion of the Working group on questions of acceptance of the Republic of Uzbekistan in members of EurAsEC about accomplishment of the conditions by the Republic of Uzbekistan necessary for the introduction in associates (is attached).

2. Recommend to the Republic of Uzbekistan to complete work on accomplishment of obligations on the introduction in members of EurAsEC taking into account the specified Conclusion of the Working group.

Members of Interstate Council of EurAsEC:

The report on the activities which are carried out by the Republic of Uzbekistan directed to accomplishment of obligations according to the introduction in members of Eurasian economic community

1. About conceptual approaches of social and economic development of the Republic of Uzbekistan for the medium term.

Main objectives of social and economic development of the Republic of Uzbekistan for the medium term are the further liberalization of economy providing increase in role of private sector in economy, strengthening of legal protection of subjects of entrepreneurship, improvement of the business environment, carrying out administrative reform, and also enhancement of conditions of increase in efficiency of the reproduction processes aimed at providing steadily high rates of economic growth, growth of employment and the income of the population by rational and effective use of the existing resource potential, competitive advantages and forming of complete market infrastructure of economy.

Realization of these purposes will provide growth rates of economy at the level of 7%-8% a year. In the medium term moderately tough monetary policy for ensuring stability of national currency and preserving forecast parameters of inflation within 6%-8% in 2006 and not higher than 5% by 2008 will remain.

The medium-term concept of social and economic development is constructed taking into account further building-up of the export potential of the republic, expansion of attraction of foreign investments, further optimization of structure of economy on the basis of active industrial policy, decrease in transactional costs and creation of competitive conditions for increase in efficiency of development and use of the available rich mineral resources.

Taking measures to further decrease in intervention of the state in activities of business entities, increase in efficiency of antimonopoly and price policy, stimulation of activation of private sector, strengthening of healthy competition in real and financial sectors of economy is at the same time provided.

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