The Guarantee of Sustainable Development of Foreign Trade in the Republic of Uzbekistan
On March 16 this year, the Ministry of Investment and Foreign Trade involved heads of ministries, departments, industry associations, holdings, Central and commercial banks, as well as heads of local authorities of the Republic of Karakalpakstan, regions and the city of Tashkent responsible for investment and foreign trade in negotiations on topical concerns related to implementation of forecast indicators in investment and foreign economic activity amid global economic environment resulting from the announced coronavirus pandemic.
During discussion, the participants decided that the relevant ministries and departments supported by local authorities and coordinated by the Ministry of Investment and Foreign Trade will develop targeted programs of emergency and non-standard measures to ensure effective support to domestic entrepreneurs under economic and transport-communication restrictions in individual states due to pandemic with a view to every district and region.
Targeted programs will include financial supporting measures for the initiators of investment projects, manufacturers and exporters in close cooperation with commercial banks.
There will be the new mechanisms to promote domestic products to foreign markets through close cooperation with foreign partners. They primarily will focus on measures to ensure the stability of international freight traffic.
Emphasis was placed on a stable and sustainable development of international freight transport by rail and road in the Republic of Uzbekistan.
The participants will also work out additional measures to compensate for some export transportation costs associated with alternative freight routes due to logistical restrictions imposed in a number of countries.
Executive officers received instructions to inform a wide range of foreign and international partners within investment, trade and economic cooperation on maintenance of unrestricted rail and road transport of export and import goods in the Republic of Uzbekistan, as well as the transit of goods through the country with no restrictions.
In addition, the Agency for Sanitary and Epidemiological Welfare under the Ministry of Health organizes coronavirus signs monitoring for transport crew members in order to ensure protection of public health.
The negotiations determined primary objectives within the disclosed instructions followed by assigning of executive officers and certain deadlines.
To meet these objectives, the Ministry of Investment and Foreign Trade established the Republican Headquarters for Support of Exporters and Entrepreneurs operating around the clock. The Headquarters included executive officials from relevant ministries and departments, who will ensure prompt resolution of all issues related to stable mode of foreign trade and investment activities.
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