Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev signed a resolution on additional measures to support participants in foreign trade activities.

According to the document, from 1 April 2022 to 1 April 2023, domestic enterprises (their authorized representatives) when exporting high value-added products to the countries of the European Union are provided with subsidies to compensate for transportation costs in the amount of up to 70 percent.

During this period, when exporting high value-added products exported to neighboring countries, subsidies are provided to compensate for transportation costs in the amount of up to 50 percent.

The costs associated with the accreditation of conformity assessment bodies by an accreditation body that is a member of international organizations ILAC / IAF are compensated by the Export Promotion Agency.

The amount of prepayment required when business entities export goods (except for special types of goods), works and services on the basis of invoices (invoices) without concluding an agreement is reduced from 100 percent to 50 percent.

The Government Commission on Foreign Trade, Investments, Development of Local Industry and Technical Regulation was instructed to approve a list of high value-added products, the export of which provides subsidies for compensation of transport costs, within two weeks, and to ensure its regular publication on a single exporter support portal.

The head of Uzbekistan canceled the procedure for prohibiting the use of benefits on customs payments during customs clearance of goods that are in the customs warehouse regime for more than six months.

The government commission was given the authority to extend the maturity of loans allocated from the Export Support Fund to finance pre-export and export-related trade operations for an additional six months in accordance with the requests of domestic exporting enterprises. At the same time, it was established that a change in the maturity of these loans will not be considered by the Central Bank as assets whose lending conditions have been revised.

In order to further support youth entrepreneurship, including stimulating activities for the production of export-oriented products and the provision of services based on innovative technologies, the President authorized the allocation of loans up to $500,000 from the Young Entrepreneurs Support Fund based on decisions of the government commission.

The Ministry of Investments and Foreign Trade was given the authority to introduce, until 1 January 2023, temporary mechanisms for regulating foreign trade operations of the Republic of Uzbekistan based on the conclusion of the government commission. At the same time, it is important to provide for measures to stimulate the export of finished products, to prevent cases of artificially inflating the cost of import contracts, the penetration of low-quality products into the domestic market, and cases of smuggling.

The Uztrade and Uzsanoatexport companies will receive US$10 million from the Export Support Fund in order to provide foreign trade companies with working capital.