Tashkent, Uzbekistan (UzDaily.com) — On 24 June 2025, during the eighth plenary session of the Senate of the Oliy Majlis of the Republic of Uzbekistan, senators reviewed and approved the Law “On Amendments and Additions to Certain Legislative Acts,” aimed at deepening reforms in the fields of foreign trade and corporate governance.

As noted during the discussions, Uzbekistan is steadily implementing large-scale reforms to develop corporate relations and introduce modern standards of corporate governance in joint-stock companies. The new law establishes legal mechanisms that strengthen the fiduciary duties of executive bodies and supervisory board members, and defines the liability of majority shareholders. This is expected to enhance transparency and the efficiency of corporate management, while also strengthening the business environment and investment attractiveness.

Particular emphasis in the law is placed on matters related to foreign trade and bringing national legislation in line with international standards, including the rules of the World Trade Organization (WTO). It was highlighted that:

32.3% of Uzbekistan’s imports come from countries with free trade agreements,
61.4% from countries granted most-favored-nation (MFN) status,
and 6.3% from countries without an established trade regime or with unidentified origin of goods.

Notably, 95% of all goods imported into Uzbekistan originate from WTO member states. In view of this, the law abolishes the practice of applying double customs duties when no certificate of origin is presented for goods imported from countries not covered by MFN agreements.

In addition, the period for transferring customs payments to the state budget has been shortened from five to three working days, which is expected to accelerate customs procedures and simplify operations for participants in foreign economic activity.

According to senators, the approved legislation creates a legal framework for the liberalization of foreign trade, strengthens Uzbekistan’s position in the global market, and contributes to the expansion of export-import operations and the improvement of the business climate.

The adopted amendments are viewed as a significant step toward harmonizing national laws with WTO requirements, advancing a market economy, and ensuring sustainable growth. The law will enter into force after being signed by the President of the Republic of Uzbekistan.