On April 8 this year, a round table was held at the International Business Center with the participation of heads of a number of ministries and departments, major importers, owners of wholesale and retail chains - well-known entrepreneurs of Uzbekistan. The key topic of the agenda was the practical application of benefits introduced on the initiative of the Head of State for a number of sought-after food products on the domestic market.

In accordance with the Decree of the President of the Republic of Uzbekistan dated March 23, 2023, No. UP-41 "On additional measures to ensure price stability in consumer markets", it was decided to introduce zero duties on the import of 36 types of food products until 2024 (2 more – until September 1, 2023).

Addressing the participants, Deputy Minister of Investment, Industry and Trade Badriddin Abidov stressed the timeliness and importance of the adopted Decree of the President of the Republic of Uzbekistan to ensure the balance of prices and saturation of markets with affordable food products.

This initiative of the President is a deeply thought–out, effective response to the observed steady global food inflation of 15-20% per year, expressed in a record increase in prices for vegetable oil, milk and meat over the past 30 years and for grain products and sugar over the past 10 years.

According to the analysis, in the first 10 days after the introduction of zero rates (as of April 4 this year), there was a decrease in wholesale prices for 24 types out of 36 types of goods imported using customs privileges. This was especially reflected in dates - 16%, apples, quinces and pears - 42%, canned fish - 50%, mineral waters - 40%, white chocolate or sweets without cocoa - 24%. According to experts' expectations, the price reduction will also follow in the retail trade.

The measures taken for the effective implementation of the tasks laid down in the Presidential Decree were announced. In particular, a working group has been established for monitoring the dynamics of price changes in the domestic market and developing measures to stabilize them.

The participants of the round table during the question and answer session also shared their opinions and suggestions.