Fees for selling local products on exchange to be halved

Recently, Shavkat Mirziyoyev held a meeting on improving trade through the commodity exchange, Spot reported.

The President noted a number of systemic problems in organizing auctions and attracting businesses to them. “For example, 85% of their volume falls on 45 highly liquid goods, and the share of sales of textiles, leather, cables remains low,” Sherzod Asadov quoted him as saying.

Only 7% of industrial enterprises bring their products to UZEX. Enterprises in a number of districts and regions hardly participate in exchange trading.

In this regard, officials were instructed to develop a scheme of actions aimed at increasing the number of local goods on the exchange. The head of state explained the principles of the system for bringing agricultural products to auction on the example of the Urtachirchik district:

• khokim of the district must prepare a monthly plan for the supply of wheat to the exchange;
• together with the district department of the Chamber of Commerce and Industry, registration on the exchange of local farms and clusters will be organized;
• for the convenience of entrepreneurs, exchange trading platforms will be launched at the office of the Chamber of Commerce and Industry, where they will be helped with paperwork and taught the basics of exchange trading.
• the requirement from farmers for collateral when listing wheat is cancelled;
• the exchange will pay for the products sold within one day.

“The new system will become a school for farmers and clusters, and a test for khokims,” the President said.

By the end of the year, the task has been set to double the number of local sellers on the stock exchange, and the number of goods they offer, by 5 times. All reserves will also be used to double the turnover of the exchange.

Also noted were the barriers that stand on the stock exchange in front of a number of goods – in particular, building mixtures, drywall, paints and varnishes. Mirziyoyev outlined measures to simplify the access of local goods to the site.

When state registration of entrepreneurs will also be registered on the stock exchange. For local products, exchange fees will be halved and additional checks by the tax authorities will be canceled.

From July 1, UZEX has been instructed to launch a section of promising goods for the sale of local products without unnecessary documentation. The best products will go to the main site.

The President instructed to bring the volume of import-export operations on the exchange to $500 million. From July 1, 10 thousand tons of copper, 50 thousand tons of ferrous metal, 1 million square meters of building glass will be put up for auction.

Also, 100 large foreign manufacturers and distributors of raw materials and materials will be attracted to the site. For them, the requirement of digital signatures, payment of collateral and exchange fees will be canceled.

At the end of the meeting, Mirziyoyev reminded the khokims about the monthly specific plans for bringing goods to the stock exchange. To do this, they must meet with local businessmen and study their production capabilities.