Senate approves elimination of double customs duties on imports to Uzbekistan

Under the new legislation, the application of double customs duty rates on goods originating from countries with which Uzbekistan has not established Most-Favored-Nation (MFN) status will be abolished. In addition, double duties will no longer be imposed if an import lacks a certificate of origin.

The timeframe for transferring customs payments to the state budget after clearance procedures are completed will be shortened from 5 to 3 working days.

The law also introduces clearer definitions of the fiduciary duties of executive board members and supervisory board members in joint-stock companies. It outlines the general responsibilities and liabilities of majority shareholders and addresses the implementation of modern corporate governance mechanisms.

During the session, senators emphasized the need to liberalize foreign trade and align national legislation with WTO agreements. Notably, approximately 95% of Uzbekistan’s imports come from WTO member states.

More than 32% of imports originate from countries with which Uzbekistan has a free trade regime, while 61.4% come from 57 nations that enjoy MFN status. Goods imported from countries without a defined trade regime or those with an unverified country of origin account for 6.3% of total imports.