Uzbekistan is creating a national export support system

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan is creating a national export support system.

The head of Uzbekistan Shavkat Mirziyoyev signed a resolution on enhancing assistance and promotion of exports.

Within the framework of the system, Uzbekistan will improve state policy in the field of development and support of exports, assist in implementation of state programs for the development of export potential.

The resolution noted that the system will provide information and consulting support to exporters and their foreign counterparties on marketing, pricing, transport logistics, certification, standardization and quality control, tax and customs administration, etc.

Exporters also receive assistance in finding a foreign buyer and accompanying the negotiation process to the stage of concluding an export contract, including its preparation. A network of information and consulting centers will be created in Uzbekistan.

It is also planned to implement the Made in Uzbekistan program to promote Uzbek brands and products abroad.

Exporters will receive financial assistance in the implementation of international systems of standardization and certification and registration of national products in foreign authorized bodies.

Uzbekistan will introduce mechanisms for pre-export and export financing, insurance of export credits and risks, including with the involvement of international financial institutions.

It is planned to attract loans and concessional loans from international and foreign financial institutions for trade financing.

According to the resolution, this system will be coordinated by the Ministry of Foreign Trade.

The head of Uzbekistan ordered the creation of the Export Promotion Agency under the Ministry of Foreign Affairs on the basis of the Export Support Fund for small businesses and private entrepreneurship at the National Bank for Foreign Economic Affairs.

The agency’s activities will be financed, including from the state budget - the Ministry of Finance is charged annually from 2019 to provide funds in the amount of at least US$15 million.

The resolution entrusted the National Export-Import Insurance Company Uzbekinvest with functions of insuring export credits and operations, and the insurer itself is transferred to Ministry of Foreign Trade.

The document noted that trade missions will open at the embassies of Uzbekistan abroad.