16.06.20
In Uzbekistan, in the Kungrad district of the Republic of Karakalpakstan bordering with Turkmenistan, it is proposed to create a free economic zone "Kungrad". This is stated in the draft decree of the President of Uzbekistan, developed by the Ministry of Investment and Foreign Trade, Trend reports.
According to the project, a similar free trade zone will be established in the Khojaabad district of Andijan region on the border with Kyrgyzstan.
The term of operation of the zones is planned for 30 years with the possibility of extending it. It is noted that they will create favorable conditions for mutual trade in goods, will contribute to the development of modern international and regional formats of wholesale and retail trade, and the development of a full range of logistics services in border areas. Payments and money transfers in these zones are planned on the basis of free conversion.
A free customs zone will be established. Goods imported into free trade zones will be considered to be located outside the customs territory of Uzbekistan. Citizens of Turkmenistan and Kyrgyzstan will be able to stay in free trade zones without a visa for 5 days.
