The Treasurer’s Guide to Trade Finance

(Martin Jones) #1

Uzbekistan


Trade information


Key trading partners
Not available.

Principal exports
Cotton, gold, energy products, mineral fertilisers,
ferrous and non-ferrous metals, textiles, food
products, machinery and cars.

Documentation
Imports
ƒ Commercial invoice, customs declaration,
bill of lading, packing list, certificate of origin,
certificate of conformity, inspection report,
transit document, legal resolution, and sales
purchase contract.
Exports
ƒ Commercial invoice, customs declaration,
bill of lading, packing list, certificate of
origin, certificate of conformity, certificate of
settlement, transit document, legal resolution,
sales purchase contract, and terminal
handling receipts.

Licences
Imports
ƒ Narcotics, weapons, precious metals and
stones, uranium and other radioactive
materials.
Exports
ƒ Weapons, precious metals and stones,
uranium and other radioactive materials,
works of art, and various animals and plant
types.

Tariffs/Taxes
Imports
ƒ Most custom duty rates for importing goods
into Uzbekistan are applied ad valorem at
five levels: zero, 5, 10, 20 and 30 percent of
customs value. The average weighted tariff
rate is 14.84 percent.
ƒ VAT of an additional 20 percent is applied to
some products.
ƒ A duty worth 0.2 percent of the customs
value (ranging from USD 25 to USD 3,000) is
levied on the customs processing of imports.
Exports
ƒ None.

Financing requirements for imports/
exports
ƒ Goods can be exported for convertible
currencies without advance payment or the
opening of a local currency account, provided
they have an insurance policy protecting their
export contract against political and commercial
risk or a guarantee from the buyer’s bank.

Prohibited items
Imports
ƒ Imports that are prohibited in accordance
with international regulations, and items
deemed a threat to fauna and flora and
national security.
ƒ Printed matter, drawings, photographic
material, films, video and audio products aimed
at undermining the state and social order.
Exports
ƒ Antiques of significant value, flour, grain,
bread, poultry and livestock, raw skins and
hides, scrap metal and waste, non-ferrous
metals, and raw silk.

Bank accounts


ƒ Resident companies can hold local currency
(UZS) bank accounts outside Uzbekistan.
ƒ Resident companies can hold foreign
currency bank accounts within and, with prior
CBU approval, outside Uzbekistan.

ƒ Non-residents can only hold local currency
and foreign currency bank accounts
in Uzbekistan if they do not engage in
economic or commercial activities, with the
exception of foreign correspondent banks of
authorised banks.
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