President simplifies order of export of products
29/05/2017 15:47
President simplifies order of export of products
29/05/2017 15:47
Tashkent, Uzbekistan (UzDaily.com) -- On 25 May 2017, President of Uzbekistan Shavkat Mirziyoyev signed a decree on measures to further stimulate exports and ensure competitiveness of domestic goods in foreign markets.
According to the decree, from 1 June, economic entities will be able to export their own production (with the exception of fresh produce, grapes, melons, and a number of raw materials) for foreign currency without prepayment, opening a letter of credit, issuing a bank guarantee and having an export contract insurance policy from political and commercial risks.
At the same time, the amount of the contract should not exceed US$100,000 and foreign currency proceeds must be received within 90 days from the date of actual export of goods.
Entrepreneurs can take advantage of these conditions if the exporting organization does not have receivables for export deliveries previously, performed in line with this order.
The decree notes that items and products, whose exports were previously banned, are now allowed to be exported on the basis of decisions of the President or the Cabinet of Ministers of Uzbekistan.
President also excluded jewelry from the list of specific goods, exports and imports of which are carried out under licenses issued on the basis of decisions of the Cabinet of Ministers.
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