Uzbekistan To Control Prices of Various Textile Export Products

The Uzbekistan government will now onwards regulate export of textile, leather, footwear and electrical products.

According to a new regulation, Uzbekistan will monitor value of export contracts for textiles, footwear and electrical equipment, as well as control export prices of the merchandise.

The list of products which will be subject to control will be approved by the Government Investment Commission.

The Ministry of Investment and Trade, the Chamber of Commerce and Industry, as well as various associations like Uztekstilprom, Uzcharmsanoat and Uzeltehsanoat will be involved in finalising this list

All of these organisations will approve monthly minimum export prices for exports from these various industries.

The Information on minimum prices will be published on the websites of the Chamber of Commerce and Industry and various industry trade bodies.

On the other hand, customs authorities will monitor exports of controlled products at prices below the minimum prices.

Such cases will be reported to the Tax Committee and the Department for Combating Economic Crimes.

There is also a proposal to introduce an amendment under which exporters who violate the minimum price regime will not be able to avail income tax benefits.

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