The President of Uzbekistan, Shavkat Mirziyoyev has signed two
decrees intended to liberalize the country's export and import
regime:
- the Foreign Trade
Decree1 which will become effective 1
December 2017, and
- the Export-Import Contract
Decree,2 which became effective on 10
November 2017 (together, the Decrees).
The Decrees represent a further step towards liberalization of
Uzbekistan's economy following the President's earlier
measures to improve the country's currency
regime.3
The principal provisions of the Decrees are summarized
below.
Foreign Trade Decree
Relief from Payment Security Requirement
Uzbek companies wishing to export goods and services previously
were required to obtain from the purchaser one of several types of
security for payment of the purchase price: an advance payment, a
letter of credit, a bank guarantee or an export insurance policy.
Failure to obtain such security would subject the Uzbek exporter to
investigation by
