Foreign Trade Regime of the Republic of Uzbekistan primarily aim at uniting the world into one economic relationship. There are certain parameters that set the goals and analyze the result of the foreign exchange policies in Uzbekistan.
The Foreign trade regime of Uzbekistan are basically a combination of trade policy instruments that facilitate the task of profit making in the business of trade of this country. Some of the principles of this trade policy in Uzbekistan are:
- Increase inflow of foreign investments
- Maximum usage of domestic raw resources
- Preserve present jobs and create new jobs and sectors
- Create competitive atmosphere in the market;
- Solve the fiscal task of renewal of budget revenues
The Foreign trade regime of the Republic of Uzbekistan is best known for its transparency and the number of restrictions is very low comparatively. Quotation and licensing are two vital legal points to be noted in the trade policies. The biggest advantage of Uzbekistan is that export duties for all kinds of goods whether be it works or services are abolished. Moreover exports of goods, works and services for foreign currency are subjected to zero rate of VAT. Excise duties are free for goods or foreign currencies.
Foreign exchange trade in Uzbekistan have always been successful due to the clean policies and rational bargaining. Uzbekistan itself is a huge producer of many minerals and goods but the scarcity of certain raw materials make external trade necessary. Foreign Trade Regime of the Republic of Uzbekistan is thus a business policy undertaken for the healthy and profitable trade relations with the foreign nations by the Uzbek government.
