Uzbekistan establishes the National System of Export Promotion

On Dec. 20, a presidential decree “on measures to facilitate export promotion and stimulation of exports” has been adopted.

In accordance with the document, the followings are set as the main tasks of the Cabinet of Ministers, heads of economic management bodies and khokims:

- to increase production of export-oriented competitive products and boost exports of services (tourist, medical, educational, transport);

- to search for partners in order to export manufactured products and conclude contracts with organizations and enterprises.

The National System of Export Promotion was set up by the Ministry of Foreign Trade.

The main objective of the national system is to provide information and analytical assistance to export activities, financial support for exports.

The Export Promotion Agency under the Ministry of Foreign Trade and trade missions at embassies abroad have also been established.

“Uzbekinvest” national export-import insurance company was entrusted with insurance of export credits and operations and is transferred to the Ministry of Foreign Trade.

Foreign Trade Minister is elected Chairman of the Supervisory Board of “Uzagroeksportbank” Joint-Stock Commercial Bank.

From 2019 annually, no less than $ 15 million from the State budget will be allocated to the Export Promotion Agency.