Uzbekistan Experts Discuss Measures to Stimulate Export Activities

Tashkent, Uzbekistan (UzDaily.com) — On 24 October 2020, the Ministry of Investments and Foreign Trade of Uzbekistan hosted a webinar to discuss the implementation of the President’s decree “On measures to further expand financial support for export activities”, as well as existing and newly introduced measures to stimulate export activities and practical support for exporters.

The webinar was attended by the leadership of the Ministry and the Export Promotion Agency, local authorities of the Republic of Karakalpakstan, regions and the city of Tashkent, more than 2,000 entrepreneurs and exporters, as well as representatives of the media.

Opening the event, First Deputy Minister of Investments and Foreign Trade A. Voitov noted: “In the context of the global economic crisis caused by the consequences of the COVID-19 pandemic, further stimulation of export activities is becoming one of the most important priorities for the state. That is why we regard the adoption of the Presidential Decree, which the ministry has already begun to implement, as a harmonious continuation of the measures already begun to assist exporters. And the creation of the Export Support Fund will be the final element in the formation of the National Export Support System”.

The webinar participants showed particular interest in the additional privileges for exporters provided for by the approved document – and these are new preferences in the form of compensations and guarantees provided to exporting enterprises by the State Fund for the Support of Entrepreneurship, an increase in the maximum amount of guarantees for loans from commercial banks with a simultaneous decrease in commissions, simplification of procedures for obtaining compensation and other measures of financial support for export activities.

Also during the webinar, it was noted that special emphasis is placed on direct work with entrepreneurs and exporters – the Government Commission for the Development of Export and Investment has been established and is effectively functioning in the country, the main task of which is to coordinate the activities of ministries, departments, industry associations, and local authorities. , commercial banks and diplomatic missions of Uzbekistan abroad, aimed at identifying and solving problems that exporters face in the production and sale of products abroad.

Members of the Commission regularly travel to the regions, where, through a direct dialogue with entrepreneurs, both systemic issues that prevent an increase in export potential and an increase in export supplies, and issues of individual exporting enterprises are revealed.

It was also noted that in each region of the country, units of the Republican Headquarters for the Support of Exporters and Entrepreneurs are working around the clock, where at any time they are ready to accept an application, study the problem and take effective measures to resolve it.

The current results of the work of the Government Commission and the Republican Headquarters were presented in the form of a presentation with specific figures for the studied enterprises, identified problems and implemented support measures.

Also during the webinar, the chairman of the Association of Exporters of Uzbekistan M. Umarov spoke about the most pressing problems in the field of export and effective cooperation with the Ministry of Investment and Foreign Trade and the Export Promotion Agency to solve these problems. He also outlined the advantages of the adopted Decree from the point of view of entrepreneurs and provided detailed explanations on individual paragraphs of the document.

The webinar included a Q&A session, during which entrepreneurs were able to receive comprehensive information and advice on issues of interest related to foreign trade and support mechanisms for exporters.

“Today’s event has shown that live communication directly with business entities allows us to quickly and fully convey to them the essence of the work carried out by the state. After all, everything that our ministry does in terms of supporting business and implementing government documents should ultimately contribute to macroeconomic stability and benefit all citizens. Speed and efficiency are critically important here, so we intend to develop this format of interaction with key audiences,” A. Voitov noted.