TASHKENT (TCA) — A new foreign trade organization, Uztuqimachilikexport, is being established in Uzbekistan for expansion of exports of Uzbek light-industry products and technological upgrade of domestic textile enterprises, the Jahon information agency reported.
Manufacturers of cotton, mixed and silk fabrics, textile, knitwear products, hats, socks, textile haberdashery and accessories in Uzbekistan are exempt from the income tax and property tax, and small businesses and micro firms are exempted from single tax payment and mandatory contributions to the Republican Road Fund until January 1, 2020. Cancellation of compulsory sales of a part of foreign currency proceeds from exports to authorized banks as of January 1, 2017 is another important factor to scale up export capacity of local light industry enterprises.
Exports of yarn, ready-made garments, knitted fabrics, tablecloths, fabrics, children’s clothes and other light industry products have been growing dynamically. The number of Uzbek trading houses abroad has been expanding. More than 40 trading houses have been operating in Russia, Kazakhstan, Kyrgyzstan, China, and Turkey. In the future, the specialized foreign trade organization Uztuqimachilikexport is expected to contribute to the establishment of ten more trading houses in Kazakhstan, Tajikistan, Ukraine, Belarus, and some European states.
“The key function of the new structure is to provide a system-based assistance to light industry enterprises in organizing exports of their products under direct contracts and through trading houses abroad. The organization is also entrusted with promoting the development of intra-industry cooperation through the supply of domestically produced technological equipment, spare parts and components, and raw materials. That all should help us to increase the production of finished products 2- to 3-fold,” said the Director of Advertising and Marketing Department of Uzbekyengilsanoat textile joint-stock company Davron Akbarov.
