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Draft Law of the Republic of Uzbekistan "On Trade" submitted for public discussion

www.uzdaily.com/en
13 August 2020

In order to consistently continue comprehensive reforms in the Republic of Uzbekistan, a State Program for the implementation of the Action Strategy for five priority areas of development of the Republic of Uzbekistan for 2017-2021 was adopted in the "Year of Science, Education and Digital Economy Development".

The State Program also envisages the development of a draft Law of the Republic of Uzbekistan "On Trade", as a prerequisite for the introduction of a trading system that meets the requirements of a modern market economy, equal protection of the interests of participants in the trade market, definition of rights and obligations through a legal basis, as well as the creation of free competitive environment.

The draft law was developed by a working group consisting of representatives of the Ministry of Economic Development and Poverty Reduction, responsible ministries and departments. Also, on July 3 of this year, a video conference was held to discuss the draft Law of the Republic of Uzbekistan "On Trade". The discussion was attended by representatives of the Ministry of Economic Development and Poverty Reduction, the Ministry of Finance, the Ministry of Investment and Foreign Trade, the State Tax Committee, the Chamber of Commerce and Industry, the Antimonopoly Committee, the Association of Exporters of Uzbekistan and the private sector.

During the discussions, the points of the draft law were examined in detail, along with which the proposals and objections were discussed. It was noted that this law is aimed at serving as a legal criterion for determining the rights and obligations of participants in the trade market, reducing the share of the informal sector, regulating the legal norms of trade, limiting unjustified interference by state bodies, ensuring the development of trade through supply and demand.

At this stage, the draft law of the Republic of Uzbekistan "On Trade" has been submitted for public discussion in order to receive proposals and comments.