TASHKENT, Uzbekistan, February 29. Uzbekistan-Turkmenistan free trade zone will be established in Shovot district of Uzbekistan's Khorezm region upon the decree signed by President Shavkat Mirziyoyev "On creation of Uzbekistan-Turkmenistan free trade zone", Trend reports.
According to the decree, the Uzbekistan - Turkmenistan free trade zone is created to organize infrastructure for storage, sorting, marketing, transportation of goods and other modern services.
Services on reception, storage and sorting of products, as well as created various services such as customs, tax, certification, phytosanitary, veterinary, banking, currency exchange, medical, and others will be provided within the trade zone.
The sale of goods produced exclusively in Uzbekistan and Turkmenistan will be organized.
The zone will have a "free customs zone" customs regime, in which retail trade operations are allowed.
Citizens of foreign countries and persons without citizenship staying on the territory of Uzbekistan will pass through a separate checkpoint.
Free movement of persons, vehicles and cargo within the zone is envisaged. Buildings and structures in the zone will be provided to business entities on the basis of online auctions.
Meanwhile, trade turnover volume between Uzbekistan and Turkmenistan amounted to $59.8 million in January 2024. Exports reached to $5.2 million, while imports - $54.6 million.