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Major foreign trade companies to appear in Uzbekistan

Uzbekistan Materials 9 January 2016 10:31 (UTC +04:00)
Two major independent organizations will be created in Uzbekistan by the decree of President Islam Karimov on the basis of four foreign trade companies previously operating in the structure of the country’s Ministry of Foreign Economic Relations, Investments and Trade.

Tashkent, Uzbekistan, Jan. 9

By Demir Azizov - Trend:

Two major independent organizations will be created in Uzbekistan by the decree of President Islam Karimov on the basis of four foreign trade companies previously operating in the structure of the country's Ministry of Foreign Economic Relations, Investments and Trade, a representative of the ministry told Trend.

In accordance with the decree "On measures to optimize the structure and further improve efficiency of the Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan", foreign trade companies (JSC) "Uzmarkazimpex", "Uzinterimpex", "Uzprommashimpex" and "Markazsanoatexport" have been abolished, said the official.

The representative of the ministry added that "Uztadbirkorexport" JSC will be established on the basis of the first two companies. The new company will help small and private businesses, farmers to realize their products to export.

The newly created "Uzsanoatexport" JSC, organized on the basis of "Uzprommashimpeks" and "Markazsanoatexport" will assist enterprises of machine building, metallurgy, chemical and petrochemical industry, production of construction materials and other industrial structures for the promotion of their export products.

Companies "Uztadbirkoreksport" and "Uzsanoatexport" will act independently and on the principles of full self-financing.

The decision of the Head of state provides for the elimination of duplication in foreign trade, as well as improving the efficiency of activity of the Ministry of Foreign Economic Relations, Investments and Trade.

In late Oct. 2015 President of Uzbekistan signed a decree on the formation of the "Uzpahtasanoateksport" ("Uzhlopkopromeksport") holding company, one of the main areas of its activity is the export of cotton fiber. Earlier, the exports were realized by the Ministry's foreign trade companies.

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