The Oliy Majlis of the Republic of Uzbekistan decides:

introduce into the Law of the Republic of Uzbekistan dated June 14, 1991 “On foreign economic activities of the Republic of Uzbekistan”, amendments and additions, approving its new edition (attached).

This Law regulates relations related to the implementation of foreign economic activity. The main tasks of this Law are to ensure economic security, protect economic sovereignty and economic interests of the Republic of Uzbekistan in the implementation of foreign economic activity, stimulate the development of the national economy, create conditions for the integration of the country's economy into the global economic system.

The legislation on foreign economic activity consists of this Law and other legislative acts.

If an international treaty of the Republic of Uzbekistan established other rules than those which are provided for by the legislation of the Republic of Uzbekistan for Foreign Economic Activities, the rules of international treaty shall be applied.

Under the foreign economic activity refers to the activity of legal and physical persons of the Republic of Uzbekistan, aimed at the establishment and development of mutually beneficial economic relations with legal and physical persons of foreign countries, as well as international organizations.

Legal entities registered in the Republic of Uzbekistan, as well as physical persons who have a permanent place of residence on the territory of the Republic of Uzbekistan and registered as an individual entrepreneur shall have the right to engage in foreign economic activity.

State bodies of the Republic of Uzbekistan may carry out foreign trade activity, if otherwise is not established by the legislation.

The main principles of foreign economic activity are:

freedom and economic independence of subjects of foreign economic activity;

equality of subjects of foreign economic activity;

non-discrimination in the implementation of trade and economic relations;

mutually beneficial in the implementation of foreign economic activity;

state protection of the rights and legitimate interests of subjects of foreign economic activity.

The subjects of foreign economic activity are legal entities and individuals of the Republic of Uzbekistan engaged in foreign economic activity.

Foreign economic activity may be carried out in relation to goods, works (services), any property, as well as securities, currency values, electrical, thermal and other kinds of energy, transport means, objects of intellectual property, which are the objects of sale or exchange, for the exception prohibited by law for use in foreign economic activity.

Subjects of foreign economic activity have equal rights for its implementation.

The subjects of foreign economic activity are entitled to:

independently determine the forms of participation in foreign economic activity, within the framework of the legislation, involve other legal and physical persons for carrying out foreign economic activity at its own discretion on a contractual basis in the established manner;

in accordance with the legislation independently own, use and dispose of the results of foreign economic activity, including income in national and foreign currencies.

Subjects of foreign economic activity may have other rights in accordance with law.

The subjects of foreign economic activity are obliged to:

submit reports on foreign economic activity in the manner prescribed by law;

to present in the prescribed manner documents confirming compliance with technical, pharmacological, sanitary, veterinary, veterinary and sanitary, phytosanitary, environmental standards, requirements, rules and norms established in the Republic of Uzbekistan of goods imported into its territory.

Subjects of foreign economic activity may have other obligations in accordance with the legislation.

The main directions of foreign economic activity are:

international economic and financial cooperation;

foreign trade activities;

attracting foreign investment;

investment activities in the outside of the Republic of Uzbekistan.

The international economic and financial cooperation - implementation of foreign economic activity, aimed at the establishment and expansion of mutually beneficial relations of subjects of foreign economic activity of the Republic of Uzbekistan with legal and physical persons of foreign countries, as well as international organizations in the sphere of production, finance, banking and insurance activities, education and training of personnel, tourism, healthcare, scientific, technical, cultural, environmental, humanitarian and other spheres in the manner prescribed by law.

Foreign trade activity is the entrepreneurial activity in the field of international trade in goods, works (services).

Foreign trade activities are carried out through the export and import of goods, works (services).

Export of goods is the export of goods from the customs territory of the Republic of Uzbekistan without the obligation of their reverse importation, unless otherwise not provided for by law.

Imports of goods is the import of goods on the customs territory of the Republic of Uzbekistan without the obligation of their reverse exportation.

Export of works (services) is the performance (provision) of works (services) by a legal or physical person of the Republic of Uzbekistan to a legal or physical person of a foreign state, regardless of the place of their performance (provision).

Imports of works (services) is the performance (provision) works (services) legal or physical person of a foreign state to a legal or physical person of the Republic of Uzbekistan, regardless of the place of their performance (provision).

Foreign investments on the territory of the Republic of Uzbekistan recognizes all types of tangible and intangible valuables and rights on them, as well as including rights to intellectual property, also any income from foreign investment, invested by foreign investors in objects of entrepreneurial and other types of activity not prohibited by law.

The forms and procedure for implementation of foreign investments in the territory of the Republic of Uzbekistan are determined by law.

Investment activities in the outside of the Republic of Uzbekistan recognizes the totality of actions of subjects of foreign economic activity associated with allocation material and non-material valuables and rights to them on the objects of entrepreneurship and other activity outside the Republic of Uzbekistan.

In accordance with the procedure prescribed by law investment activities in the outside of the Republic of Uzbekistan can be carried out by:

the formation of legal entities or equity participation in the statutory fund (capital), including through the purchase of property and shares;

the establishment of representative offices, branches and other separate subdivisions in the outside of the Republic of Uzbekistan;

the purchase of securities, including debt obligations approved by residents of foreign countries;

the acquisition of concessions, including concessions for exploration, searching, mining or use of natural resources;

the acquisition of property rights, as well as the right to own and use land and other natural resources.

Investment activities in the outside of the Republic of Uzbekistan can be carried out and in other ways, provided for by the legislation of a foreign state and the laws of the Republic of Uzbekistan.

Representative offices of foreign states on trade and economic issues are established in the Republic of Uzbekistan on the basis of international treaties concluded by the Republic of Uzbekistan with relevant foreign states.

Foreign legal entities shall have the right to open on the territory of the Republic of Uzbekistan of representation in accordance with the legislation of the Republic of Uzbekistan.

The Republic of Uzbekistan guarantees ensuring the rights and legitimate interests of subjects of foreign economic activity.

State bodies and their officials shall not have the right to interfere in the activities of subjects of foreign economic activity carried out in accordance with the law, as well as to demand from them documents not prescribed by law when carrying out foreign economic activity.

In cases of adoption by the state bodies of the Republic of Uzbekistan of acts violating the rights of subjects of foreign economic activity defined by this Law, the losses caused to them shall be compensated in accordance with the law.

Subjects of foreign economic activities shall be entitled to receive from the state bodies in accordance with the procedure established by law, the information affecting their rights and interests and not having a confidential nature in the sphere of foreign economic activity. Confidentiality of information is determined in accordance with the law.

Acts of legislation regulating foreign economic activities and have an obligatory character, should be published in the mass media and the available for subjects of foreign economic activity.

State regulation of foreign economic activity is carried out by:

the formation and improvement of the legislative base of foreign economic activity;

regulation with currency;

regulation with tax;

tariff and non-tariff regulation;

the use of protective, compensation and anti-dumping measures in order to comply with the economic interests of the Republic of Uzbekistan;

establishment the order of the implementation of foreign trade activities in that including quantitative restrictions and the state monopoly on the export and import of certain types of goods;

determination of an exhaustive list of documents required for the implementation of export-import operations;

establishing export controls in relation to goods, equipment, scientific and technical information, work and services, results of intellectual activity, indicated in the lists of objects of export control, which due to their inherent properties and features, can make a significant contribution to the creation of weapons of mass destruction (nuclear, chemical, bacteriological (biological) and toxin weapons), their delivery vehicles (missiles and other technical means capable of delivering weapons of mass destruction), other types of weapons and military equipment;

certification of imported and exported goods;

establishing technical, pharmacological, sanitary, veterinary, veterinary and sanitary, phytosanitary, environmental standards, requirements, rules and norms;

the provision of preferences and privileges to subjects of foreign economic activity.

State regulation of foreign economic activity may be carried out in other ways in accordance with the law.

The Cabinet of Ministers of the Republic of Uzbekistan:

develops a strategy for the development of foreign economic activity;

provides economic security, protection of economic sovereignty and economic interests of the Republic of Uzbekistan;

concludes international treaties of the Republic of Uzbekistan in the field of foreign economic activity;

develops the payment balance of the Republic of Uzbekistan;

issues guarantees of the Government of the Republic of Uzbekistan for received foreign loans;

owns, uses and disposes of the property of the Republic of Uzbekistan over the border;

exercises other powers in accordance with the law.

The authorized state bodies in the field of regulation of foreign economic activity are the Ministry of Foreign Trade of the Republic of Uzbekistan and the State Committee of the Republic of Uzbekistan for Investments.

Ministry of Foreign Trade of the Republic of Uzbekistan:

develops and ensures the implementation of a unified state policy in the field of foreign trade;

coordinates the work of state bodies in the field of regulation of foreign trade activities;

coordinates and controls the activity of the subjects of foreign trade activities within its competence defined by the legislation;

develops proposals to improve the legislative framework of foreign trade;

exercises other powers in accordance with the law.

The State Committee of the Republic of Uzbekistan for Investments:

develops and ensures the implementation of a unified state investment policy and the attraction of foreign investment;

coordinates the activities of state and economic management bodies, local authorities on the ground in defining the main directions of attraction of foreign investments and their implementation, as well as the implementation of investment cooperation with international financial institutions and foreign investors;

develops proposals to improve the legislative framework of investment activity;

exercises other powers in accordance with the law.

In the Republic of Uzbekistan, legislation may establish prohibitions and restrictions on the export and import of goods in order to:

ensure national security;

protecting the life and health of citizens, protecting the animal and plant world and the environment;

compliance with social morality and the rule of law;

preservation of the cultural heritage of the population of the Republic of Uzbekistan;

protection of cultural values from illegal export, import and transfer of rights of ownership to them;

maintaining the balance of payments of the Republic of Uzbekistan;

fulfillment of international obligations of the Republic of Uzbekistan;

prevent the exhaustion of irreplaceable natural resources;

protection of other interests of the Republic of Uzbekistan.

Export and import of certain types of goods can be carried out only after obtaining the appropriate permission (license) for their import or export. License to exercise the export and import of certain types of goods are issued by bodies authorized by the Cabinet of Ministers of the Republic of Uzbekistan.

With regard to export and import of certain types of goods, the Cabinet of Ministers of the Republic of Uzbekistan may establish quantitative restrictions (quotas).

The distribution of quotas is carried out, as a rule, on a contest or an auction basis.

The list of certain types of goods, the export and import of which is subject to licensing and quotas, as well as the procedure for issuing licenses and allocating quotas are determined by the Cabinet of Ministers of the Republic of Uzbekistan.

In order to protect the national interests of the Republic of Uzbekistan, as well as compliance with international obligations in the implementation of foreign economic activity in relation to goods, equipment, scientific and technical information, work and services, results of intellectual activity, indicated in the lists of objects of export control, which due to their inherent properties and features, can make a significant contribution to the creation of weapons of mass destruction (nuclear, chemical, bacteriological (biological) and toxin weapons), their delivery vehicles (missiles and other technical means capable of delivering weapons of mass destruction), other types of weapons and military equipment, there is a system of export control in the Republic of Uzbekistan. Lists of objects of export control, as well as the procedure for their export and use are established by the Cabinet of Ministers of the Republic of Uzbekistan.

In the case of adoption of measures by foreign state violate the economic interests of the Republic of Uzbekistan and subjects of foreign economic activity, as well as in case of failure in obligations accepted by international agreements by that State to the Republic of Uzbekistan, Republic of Uzbekistan shall have the right to introduce response measures in the field of foreign economic activity in accordance with the universally recognized norms and principles of international law.

In relation to increased imports of goods, protective measures may be applied by decision of the Cabinet of Ministers of the Republic of Uzbekistan.

The procedure for applying protective measures is determined by law.

In relation to import of goods at dumping prices, by decision of the Cabinet of Ministers of the Republic of Uzbekistan, anti-dumping duties may be applied.

The procedure for applying anti-dumping duties is determined by law.

In relation to the import of subsidized goods, by the decision of the Cabinet of Ministers of the Republic of Uzbekistan, compensation duties may be applied.

The procedure for applying compensation duties is determined by law.

Imported products to the territory of the Republic of Uzbekistan must comply with technical, pharmacological, sanitary, veterinary, veterinary, sanitary, phytosanitary and environmental standards, requirements, rules and standards, established in the Republic of Uzbekistan.

It is forbidden to import into the Republic of Uzbekistan goods that:

do not comply with the standards, requirements, rules and norms specified in the first part of this article;

do not have a certificate, marking or mark of conformity in cases provided by law.

On the territory of the Republic of Uzbekistan, a special regime of foreign economic activity (customs, currency, tax and others) may be established for free economic zones, which is regulated by the legislation on free economic zones.

The Republic of Uzbekistan may enter into international treaties on free trade with foreign countries, aimed at the abolition of customs duties, taxes and charges, having to them the equivalent effect, and quantitative restrictions on exports and imports of goods, the abolition of other obstacles to free movement of goods.

Disputes arising in the result of the foreign economic activity are resolved in accordance with the procedure provided for in the contract. In case of absence in the contract provisions regulating the procedure for resolution of disputes, applicable law and place of the proceedings determined in accordance with the universally recognized norms of international private law.

Disputes of subjects of foreign economic activity with the bodies of state power and governance are resolved in accordance with the legislation of the Republic of Uzbekistan.

Persons guilty of violating the legislation on foreign economic activity are liable in the prescribed manner.