TASHKENT (TCA) — In order to create favorable conditions for sustainable development of domestic production of high quality finished products, meet the consumer demand of the population, prevent unjustified price rises in the domestic consumer market, and to provide Uzbekistan’s producers with raw materials not produced in the country or produced in insufficient quantities, the President of Uzbekistan has adopted a decision “On measures for further streamlining of foreign economic activity of the Republic of Uzbekistan”, the Jahon information agency reports.
According to the president’s decree, a zero rate of customs duties has been introduced on butter, soybean and sunflower oil seeds, potatoes, wheat, rye, barley, oats, corn, grain sorghum, buckwheat, millet, soybean, flax, sunflower, rye flour, groats and flour from durum wheat, cane sugar, cacao beans, the raw materials used in pharmaceuticals, and some products for animal feeding.
Starting from 1 September 2017, the following goods are not subject to excise taxes: meat and edible meat offal, poultry fat, pork fat, wheat flour and other products used for animal feed.
The decree also cuts the current rates of customs duties on certain types of goods, including meat of bovine animals, pork, lard, poultry fat and other edible meat offal, coffee, wheat flour, cane sugar, as well as the excise duty on sunflower oil, cane sugar and coffee.
The cut of customs duties on raw materials for the production of food and consumer goods is set to be a strong incentive for domestic producers, thereby lowering production costs and increasing their competitiveness.
