In a strategic move to ensure economic stability and curb inflation, the President of Uzbekistan has extended the period of zero customs duty rates on essential food items until January 1, 2025. FCHAIN Corporation, a global consulting powerhouse with 14 branches worldwide, including a strong presence in Uzbekistan, closely follows this development, providing insights into the finance and legal sectors.
Presidential Directive: Sustaining Price Stability for Essential Food Items
President Shavkat Mirziyoyev signed a directive on December 28, aimed at maintaining price stability for crucial food products in consumer markets. The directive, as reported by “Gazeta.uz,” extends the application of zero customs duty rates on items specified in the annexes to the presidential decrees of May 31, 2022 (UP-145), and March 23, 2023 (UP-41), until January 1, 2025.
The items covered include various food products such as subproducts of large horned cattle, fish, milk, cream, butter, eggs, bananas, citrus fruits, fruits, onions, certain vegetables, coffee, tea, vegetable oils, flour, cereals, pasta, water, haircare products, children’s clothing, and more. (For the complete list, refer to the provided links.)
Additionally, the directive specifies that throughout 2024, a zero customs duty rate applies to the import of fresh, chilled, or frozen meat and food byproducts of domestic poultry (customs code 0207), as well as sunflower, safflower, and cottonseed oils and their fractions, whether refined or unrefined but without changes in chemical composition (customs code 1512), as per commodity position 0105.
Until the end of 2024, a dual customs duty rate is not applied to goods originating from countries without most favored nation status in trade and economic relations.
The Government Commission on Investment Attraction, Industrial Development, and Trade Regulation has been tasked with submitting proposals to the President’s Administration by February 1 to prevent a sharp increase in sugar prices and ensure production stability.
Moreover, by October 1, the commission is mandated to assess the effectiveness of the granted privileges and formulate recommendations for their continued application.
