Tashkent announces plan for Uzbekistan-Turkmenistan free trade zone

By bne IntelliNews February 29, 2024

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.

Related Articles

Trade between China and four of five “Stans” expands at rapid rate in 2023

Trade between China and the countries of Central Asia expanded at a rapid rate in 2023, with the exception of Turkmenistan, according to data published by China’s customs agency, or GACC. ... more

Accor signs for first hotel in Tajikistan but report says investors remain hesitant to put money into Central Asia hotels

French hotel giant Accor has signed an agreement to open its first hotel in Tajikistan. A Swissôtel 243-room property within an 18-floor building, located in the the centre of the capital ... more

Central Asia cotton growers hit by severe price correction

A severe correction in the raw cotton wholesale price since the middle of 2022, following a spike seen as the global economy eased out of coronavirus lockdowns, has hit cotton growers across Central ... more