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progress. This can stimulate innovation within the country and enhance its competitiveness in global
markets.
Underestimating technological development and promoting low-tech products can lead to the
displacement of countries from markets for more technologically advanced products. This can limit
the potential for economic growth in the country and reduce its competitiveness in the long term.
Decreased opportunities for economic growth and a decline in quality of life can pose threats to the
economic security of the country. This can lead to social and economic problems such as
unemployment, social tension, and instability.
Thus, maintaining and developing the export of high-tech goods plays a crucial role in
ensuring sustainable economic development and ensuring the economic security of the country. Also,
export diversification has a positive effect on the rate and sustainability of economic growth.
Therefore, it is necessary to continue to support exporting enterprises, and also create conditions for
growing small sectors of the economy that can further increase export potential and diversify the
range of the export basket. An important feature of export-oriented industrial development is a
properly formulated and aggressive marketing and export strategy of the businesses, developed taking
into account the needs of the customer and the presence of potential competitors.
On a regular basis, it is essential to provide comprehensive information about the produced
and offered products on the websites for international trade like Alibaba.com, conduct marketing
research on external suppliers, buyers, and competitors, and participate in international exhibitions,
among other activities. Additionally, it is important to promote the products of domestic
manufacturers in potential buyer countries through trade intermediary links, trading houses, and
representations of industrial enterprises. The decrease in competitiveness of domestic goods in the
markets of major trading partners due to events in the currency markets of these countries and their
overall economic situation provides Uzbekistan with a good reason to pursue a policy of diversifying
export markets and opening up new opportunities for creating export-oriented goods in new markets.
Undoubtedly, diversifying external markets reduces the risks of the influence of financial and
economic crises in individual countries on the economy of Uzbekistan.