Uzbek leader reorganizes MFERIT to Ministry of Foreign Trade

Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan signed a decree “On measures on improving system of management in the field of foreign trade” on 14 April 2017.

Uzbek leader reformed the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan to the Ministry of Foreign Trade of Uzbekistan.

According to the decree, the Ministry of Foreign Trade of Uzbekistan is an authorized state body, responsible for forming and realizing state policy in the field of foreign trade and will coordinate works of the state bodies in regulating foreign trade activities.

The decision of the Ministry within the score of its jurisdiction will be mandatory for state bodies and economic entities, local state bodies in places, business entities of all forms, etc.

Ministry of Foreign Trade of Uzbekistan is the legal successor of the Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan for its obligations and treaties, including international ones, regarding foreign trade relations.

The decree outlines tasks and main activities of the new ministry. It will develop and implement single state policy in foreign trade, conduct marketing research of global markets, help businesses to export their products, etc.

The ministry will analyze structure of imported goods and develop proposals on production of localized goods based on local raw materials.

It will also develop measures on improving foreign trade infrastructure, including developing transit potential, logistic and transport corridors.

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