Starting from June 1, 2017 economic entities will be able to export their own production (with the exception of fresh produce, grapes, melons, and a number of raw materials) for foreign currency without prepayment, letter of credit, bank guarantee and export contract insurance policy from political and commercial risks, according to the May 25 "On measures to further stimulate export and raise competitiveness of Uzbek goods in foreign markets" decree signed by President Shavkat Mirziyoyev.
However, the contract price shall not exceed US$ 100 thousand and foreign currency proceeds must be received no later than 90 days from the date of actual export of goods.
Entities can take advantage of these conditions only if exporting company has no receivables for exports carried out earlier under this procedure.
The decree notes that items and products, whose exports were previously banned, are now allowed to be exported on the basis of decisions of the President or the Cabinet of Ministers of Uzbekistan.
President of Uzbekistan also excluded jewelry from the list of specific goods, exports and imports of which are carried out under licenses issued on the basis of decisions of the Cabinet of Ministers.
