Ukrainian food products to be imported to Uzbekistan through UZEX
Tashkent, Uzbekistan (UzDaily.com) -- On 4 November 2020, a video conference at the Uzbekistan Commodity Exchange (UZEX) was held with members of the National Association of Sugar, Oil, Grain and Flour Producers of Ukraine with the support of the Ministry of Foreign Affairs of Ukraine, the Embassy of Ukraine in Uzbekistan and the Embassy of Uzbekistan in Ukraine.
The main goal of this event was to ensure food security in our country and maintain price stability in the domestic market by importing sugar, butter, grain and flour using the exchange mechanism.
The videoconference was attended by representatives of 16 large associations and manufacturers (Union of Millers of Ukraine, National Association of Sugar Prospectors of Ukraine, Ukrainian National Product, Femeli Trade Group, Anesta, Zernari, TRADE BB and others), as well as state food and grain corporations of Ukraine, Trustbank, stock exchange employees and brokers.
As noted, the widespread use of market mechanisms in the implementation of export-import operations by business entities of Uzbekistan and Ukraine will serve to dynamically increase trade between the two countries.
For this purpose, presentations of exchange activities were held for the event participants. The presentations explain in detail the procedure for carrying out foreign trade operations on the exchange, mechanisms for mutual settlements and ensuring guarantees for the execution of concluded transactions.
At the same time, information is provided on additional measures created at the exchange for foreign companies (non-residents) when they export flour, butter, sugar and grain products to Uzbekistan. In particular, the procedure for accrediting these enterprises on the stock exchange is simplified, and they are also exempt from paying stock exchange commission fees.
After that, the event participants showed interest in the activities of the exchange and addressed specific questions and proposals for mutually beneficial cooperation. In particular, sugar-producing enterprises asked questions about the settlement mechanism provided that sugar products are supplied to Uzbekistan through exchange trading.
At the end of the event, an exchange of views took place within the framework of the topic under discussion, as well as agreements were reached to continue close cooperation with food producers in Ukraine.
On 16 October, a video conference was held under the chairmanship of the President of the Republic of Uzbekistan, at which tasks were identified to ensure food security and price stability in the domestic market.