Since the middle of 2017, the Uzbek government has made a number
of decisive steps towards relaxation of foreign trade controls and
simplification of procedures for concluding export and import
contracts. Although nothing can surpass in importance the
long-awaited liberalization of foreign exchange policy that was
implemented in October 2017, there are a number of other changes
that made a significant impact on foreign trade transactions. This
legal alert provides a brief overview of all the related changes
that have been made up to this date.
EXPORT OPERATIONS
Export without prepayment
Starting from 1 December 2017, it is permitted to export goods
and services without prepayment, securing a letter of credit, a
bank guarantee or an export-import insurance policy, if there were
not past cases of overdue debts concerning the exporter. Only
limited exemptions apply, mainly concerning agricultural
products.
