EU REGIONAL TRADE VULNERABILITIES, LIBERALIZATION AND POTENTIAL LESSONS FOR UZBEKISTAN TRADE REFORMS

The aim of this paper is to present selected experiences of European Union trade liberalization, impact of globalization on vulnerable sectors of the EU. Many such experiences are discussed. Central Asian countries must consider vast amount of data, sector-specific information and aspects and still it will not be easy to say that pursued liberalization is the good direction to a wealthier nation with healthy regions, richer citizens and higher tax income for government. We start with brief introduction discussing primary motivation for European liberalization, then we focus on review selected literature sources, concluding that liberalization in general is a good thing and that there is very high probability of success but no guarantees can be drawn as every country is very specific and all policies must be pursued with high degree of attention and thorough analysis. Based on good EU examples of BFTA and CEFTA we recommend considering multilateral free trade agreement within CIS free trade area.