April 15, 2024

Trade development company will support exporters

In accordance with the Presidential Decree of 14.03.2024 PD-126, “On measures to further enhance the role of business associations in the development of foreign trade and regional industry”, the JSC “Trade Development Company” will be established.

The founder is the State Assets Management Agency on the basis of the Export Promotion Agency and the Export Support Fund. The Chamber of Commerce and Industry (CCI) will manage the state shares in its authorized capital.

From July 1, 2024, the Trade Development Company will provide support based on the Sustainability Rating of business entities. Support measures include financial assistance to:

  • organizations – exporters in the implementation of international standardization and certification systems, as well as registration of national products and brands (trademarks) with foreign authorized bodies;
  • exporters – provision of compensation to cover insurance premiums when they use insurance services;
  • business entities – provision of compensation to cover part of their transportation costs by road, rail and air transport when exporting products;
  • partial coverage of expenses for the introduction of financial reporting based on international standards;
  • domestic organizations – exporters – covering a part of their expenses abroad related to opening and maintaining trade houses, renting office, trade and warehouse premises, as well as organizing advertising and promotional activities.
  • agricultural and industrial enterprises in the form of covering their expenses on attracting qualified designers, technologists, marketers, quality controllers and agronomists from foreign countries.
  • attracting foreign consulting companies under the “export-accelerator” program (“from entrepreneur to exporter”).

The conditions of support for the subjects and the procedure for using the Fund’s resources are determined by the Government Commission on Attracting Investments, Industry Development and Trade Regulation on the basis of the proposal of the CCI.

The document also provides for the establishment of CCI project offices to support entrepreneurs in Karakalpakstan, regions and Tashkent. Their tasks are:

  • assistance in developing business plans, introducing corporate governance, offering ready-made business projects;
  • providing expert, legal and consulting assistance in solving practical issues related to entrepreneurship, infrastructure, services (production) and export with the involvement of representatives of ministries and departments;
  • professional development, provision of financial, economic and legal advice by launching electronic platforms in the regions, etc.