Tashkent, Uzbekistan (UzDaily.com) -- At the forty-ninth plenary meeting of the Senate, the Law “On amendments and additions to the Customs Code of the Republic of Uzbekistan, aimed at further improving customs procedures” was considered.

It should be noted that in recent years, to facilitate and stimulate business activities in Uzbekistan, several procedures have been critically revised, and outdated bureaucratic barriers and obstacles that do not meet the requirements of the time have been abolished.

Thanks to the measures taken, the business environment in the republic has improved and ample opportunities have been created for business entities and private investors

At the same time, there is a need for further liberalization of foreign trade by harmonizing national legislation with international standards.

The discussed Law is aimed at eliminating gaps in the legislation, bringing the norms for determining the customs value of goods upon their import into compliance with international standards.

The law introduces new practices in the field.

In particular, specific deadlines are established for the export of goods whose customs territory is placed under the customs regime of re-export, as well as storage locations for goods that are not exported for re-export.

In 2018–2020 125.6 thousand tons of goods were imported into customs warehouses in 488 thousand batches worth US$186.8 million, which are still stored under the customs regime of a customs warehouse with an expired expiration date.

The law is supplemented by a norm that specifies that when goods are repeatedly placed under the customs regime of a customs warehouse or transferred to another person, the total period of validity of the customs regime of a customs warehouse cannot exceed 3 years.

In addition, according to the Law, a document on the technological process of processing goods in the customs territory is now required not from small organizations, but only from organizations with a large state share.

This opportunity allows entrepreneurs to effectively use the processing mode.

In addition, the Law allows the release of goods before receiving the results of the customs examination appointed before the release of the goods.

A rule is being introduced according to which customs authorities have the right to suspend the release of goods. This practice creates convenience for domestic producers exporting goods. In particular, this prevents the export of counterfeit copies of goods of own production abroad, increases the prestige of national brands in foreign countries, and ensures a fair competitive environment (do not steal someone else’s brand).

The senators noted that this Law serves to ensure compliance of national legislation with international standards, including the creation of conditions for equal competition in the economy and the widespread attraction of foreign investment.

The law was approved by senators.