In a strategic move to maintain price stability and curb inflation, the President of Uzbekistan has prolonged the zero import customs duty on specific food products until January 1, 2025, EastFruit reports.
The decree prolongs the zero import customs duty on the goods outlined in Annex №1 to the presidential decree of May 31, 2022 (UP-145) and the decree of March 23, 2023 (UP-41) until January 1, 2025.
The assortment of goods includes by-products of cattle, fish, milk, cream, butter, eggs, bananas, citrus fruits, other fruits, onions, certain vegetables, coffee, tea, vegetable oils, flour, cereals, pasta, water, hair products, children’s clothing, and more.
Trade relations and customs duty
For 2024, goods originating from countries that do not provide the most favoured treatment in trade and economic relations will not be subjected to a double rate of customs duty.
Role of government commission
The Government Commission on Investment Attraction, Industrial Development, and Trade Regulation has been tasked to present proposals to the Presidential Administration to avert a steep rise in sugar prices and ensure production stability by February 1.
By October 1, the commission is expected to evaluate the efficiency of the applied benefits and formulate proposals for their continued application.
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