BAKU, Azerbaijan, Mar. 12
By Klavdiya Romakayeva - Trend:
A zero customs duty rate is introduced for the import of cement products to Uzbekistan starting from April 1 to October 1, 2021, Trend reports referring to Norma information and legal portal.
According to the information, the purpose of this decision is to reduce prices for housing being built. It is noted that currently, the duty rate for the import of cement products to Uzbekistan amounts to 30 percent of the customs value.
It is reported that the abolition of the duty is envisaged by the presidential decree on additional measures to provide the population with housing through the allocation of mortgage loans based on market principles.
In accordance with the document, a separate exchange trading section for cement and rolled metal is being introduced for organizations involved in housing construction.
Earlier the Central Bank of Uzbekistan noted in its review that significant growth in the construction sector is expected in the coming months compared to last year, which may lead to an increase in prices for cement and other building materials.
“It will be important to take timely measures to increase the volume of goods and services in the domestic market and increase competition in certain product markets,” the report says.
Last April, during quarantine restrictions in the country, the government temporarily restricted cement imports, despite a recommendation not to do so and a warning that prices would rise. As a result, prices for cement products increased by an average of 25 percent. The ban was lifted exactly one month later.
In July, the government simplified the procedure for importing cement, allowing it to be put into free circulation within 1-2 days instead of the previous 28 days, which led to some price stabilization.
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