An Uzbekistan-Turkmenistan free trade zone (FTZ) is to be established in Shovot district of Uzbekistan's northwestern Khorezm region, Trend reported on February 29.
According to a presidential decree issued by Tashkent, the FTZ would provide infrastructure and facilities for the storage, sorting, marketing and transportation of goods. Customs, tax, certification, phytosanitary, veterinary, banking, currency exchange, medical and other services would be provided within the trade zone under the outlined plans.
Sales of goods would be restricted to items produced exclusively in Uzbekistan and Turkmenistan.
Retail trade operations would be permitted in a "free customs zone".
Buildings and structures in the zone would be provided to business entities on the basis of online auctions.
Trade volume between Uzbekistan and Turkmenistan amounted to $59.8mn in January, according to Uzbek official statistics. Uzbek exports amounted to $5.2mn in value, and imports from Turkmenistan to $54.6mn.
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