New measures to financially support exporting companies are introduced in Uzbekistan
In accordance with the Decree of the President of the Republic of Uzbekistan “On additional measures to stimulate exporting enterprises” No.УП-6306 (the “Decree No.УП-6306”) dated September 7, 2021, starting from October 1, 2021, the following are approved:
- enterprises with annual export volume exceeded USD 20 million get one-time financial resources of up to USD 5 million. The Export Promotion Agency provides recourses up to 1 year for export and pre-export financing through commercial banks;
- enterprises that exported ready-made garments for an amount exceeding USD 1 million in the last 12 months can have a 120-day deferral (payment by installments) of customs payment without interest and security for import of raw materials, materials for main and auxiliary production;
- enterprises are not required to obtain a national certificate for the import of certified and declared equipment, components, raw materials, measuring and vehicles, chemical and lifting mechanisms from countries with a high quality and control system.
An application of fines to enterprises for overdue receivables on foreign trade operation and a collection of fines imposed before the entry into force of the Decree No. УП-6306 are suspended until December 31, 2021.
Permission of the President or the Cabinet of Ministers is not required for the export of the following products:
- millet (trade codes 1008 21 000 0, 1008 29 000 0);
- flour and dried bean powder (trade code 1106 10 000 0);
- flour and fruit and nuts powder (trade code 1106 30 900 0).
