Tashkent, Uzbekistan (UzDaily.com) -- At the tenth plenary meeting of the upper house of parliament, senators discussed the Law of the Republic of Uzbekistan “On the accession of the Republic of Uzbekistan to the International Convention on the Simplification and Harmonization of Customs Procedures (Kyoto, on 18 May 1973, as amended on 26 June 1999)”.

It was noted that today it is of great importance to ensure in the future the effectiveness of deep economic reforms carried out in our country, in particular, improving the legislative framework in this area to increase the efficiency of customs activities, bringing it in line with international law.

This Law is aimed at stimulating the country's foreign trade by simplifying and harmonizing the customs legislation and procedures of the Republic of Uzbekistan on the basis of the provisions of the Kyoto Convention.

The provisions of the Kyoto Convention were developed by the World Customs Organization in the form of recommendatory standards.

Among the CIS countries, Azerbaijan, Armenia, Belarus, Kazakhstan, Russia, Tajikistan and Ukraine have joined the Kyoto Convention.

During the meeting, it was noted that the adoption of this Law is of great importance in increasing the country's investment attractiveness in the future, improving its position in prestigious international ratings, as well as determining strategic directions for improving customs legislation.

At the same time, it was noted that joining the Convention will provide an opportunity to further stimulate the country's foreign economic activity, will have a positive impact on the process of Uzbekistan's integration into the world economy, in particular, its entry into the World Trade Organization.

This Law has been approved by the Senators.