Measures to Ensure Economic Stability Discussed
2025-04-18 17:00:00 / News

Uzbekistan’s economy is an integral part of the global economy. Thanks to a prudent foreign policy and a favorable investment climate, new markets are opening up for our entrepreneurs and the range of products is expanding. According to Harvard University’s analysis, over the past five years, Uzbekistan has risen by 25 positions in the Economic Complexity Index. A total of 162 types of national products were recognized as having a "competitive advantage in the global market." As a result, Uzbekistan’s exports have increased by 2.2 times in recent years. The ratio of foreign trade turnover to GDP has reached 57%, showing how reliant our economy is on foreign markets.
However, the global landscape is changing. Shifting international relations, tariffs, and restrictions are affecting other countries as well, slowing the global economy and reducing international trade. For example, over just a few days, $10 trillion was lost in global financial markets. Due to high tariffs, global trade volume has decreased by $3.5 trillion, and global inflation is forecasted to rise to 7.5–8%.
The greatest risk is disruptions in supply and value chains worldwide, similar to what was seen during the pandemic. This particularly threatens leading industries like textiles, electronics, automotive, and food processing, which dominate global exports. Consequently, competition will become even more fierce and unforgiving.
The President emphasized that in such conditions, we must rely solely on our own strength and internal resources, acting decisively. Ministers, sector and regional leaders must develop concrete plans and personally oversee production and export.
To support this, the government will implement legal, organizational, and practical measures. In this regard, meetings with over 3,000 entrepreneurs were recently held to study their issues. Most concerns related to standards and certification. Over 25,000 standards and 41 technical regulations in Uzbekistan do not meet international market requirements. Outdated rules and bureaucracy are hindering entrepreneurs and fueling corruption. Redundant certification processes continue to burden the population.
Investors note that many of our laboratories do not meet standards, and international certifications are not recognized here—or vice versa. As a result, exporters must send samples abroad to obtain certificates.
Currently, certification bodies also act as market regulators, which creates conflicts of interest. The President announced the signing of a new decree to address these issues and stimulate entrepreneurship, improve trade and industrial policy effectiveness.
This decree clearly defines the authority of bodies in technical regulation, sanitary-epidemiology, veterinary, and quarantine to issue conclusions on products. Redundant and overlapping procedures will be phased out. For example, only the Sanitary-Epidemiological and Public Health Committee will handle quality and safety control of food products. Mandatory technical regulations and standards for food will be canceled. Sanitary norms will be harmonized with the international Codex Alimentarius.
Additionally, state registration for seven high-risk product groups will be canceled. The list of products requiring mandatory certification will be shortened, and a declaration system will be introduced instead. Foreign quality and control standards recognized in Uzbekistan will be developed for importing equipment, raw materials, special machinery, and vehicles—no national certificate will be required for these.
A new “Law on Market Surveillance” will be adopted to govern these processes. The need to improve the quality of training specialists in standardization, sanitary-epidemiology, and quarantine was also stressed.
The meeting also emphasized expanding production and exports by opening opportunities for local enterprises. According to the decree, customs valuation rules for imports will now be fully aligned with international standards.
Previously, some goods in high demand on foreign markets faced export restrictions. Starting July 1, no export restrictions will apply—except for 86 groups of raw materials and socially significant goods, which will be subject only to export duties.
In recent years, the share of confectionery and soft drink production in the local industry has grown. Supporting these sectors is also vital. Therefore, excise taxes on sugar will be canceled, and import restrictions on powdered milk will be lifted. As a result, the annual turnover of confectionery and beverage producers—employing around 40,000 people—will reach at least 50 trillion UZS.
It was noted that regional councils are setting land tax and lease payments with up to double multipliers. However, their impact on business must be assessed and adjusted based on entrepreneurs’ capabilities. On the contrary, reducing burdens and enabling expansion will increase revenue.
Now, entrepreneurs will be allowed to pay these taxes in two installments per year. Officials were tasked with involving scientists and businesspeople to develop new proposals for tax and customs reform.
The Prime Minister, deputy prime ministers, ministers, and governors must remain in constant contact with producers and exporters, ensuring that no request goes unresolved and all issues are addressed promptly.









