On October 24 this year, Ministry of Investment and Foreign Trade held a webinar dedicated to the discussion of the execution of the President's Decree on Measures to Further Expand Financial Support of Exports, as well as existing and newly adopted measure to stimulate exports and practically support the exporters.

Top officials of the Ministry and the Export Promotion Agency, local authorities of the Republic of Karakalpakstan, regions, and the city of Tashkent, more than 2,000 entrepreneurs and exporters, as well as media representatives, attended the webinar.

When opening the event, First Deputy Minister of Investment and Foreign Trade A. Voitov noted: 'Under the conditions of the global economic crisis caused by the COVID-19 pandemic, further stimulation of exports becomes one of the most important priorities for the state. That is why we consider the adoption of the Presidential Decree, which the ministry has already begun to execute, as a coherent continuation of the measures already taken to support exporters. The creation of the Export Support Fund will become the final element in building the National System of Export Support up'.

The members of the webinar paid particular attention to additional privileges for exporters provided for by the approved document. These are the new preferences in the form of compensations and guarantees provided to exporting enterprises by the State Fund for Entrepreneurship Support, the increase in the maximum amount of guarantees for loans from commercial banks and a simultaneous decrease in commissions, simplification of procedures to obtain compensation and other measures of financial support for exports.

In addition, the members of the webinar noted that particular emphasis is placed upon direct work with entrepreneurs and exporters. There is an effectively operating Government Commission for the Development of Export and Investment in the country, which mainly focuses on the coordination of activities of ministries, departments, industry associations, and local authorities, commercial banks and diplomatic missions of Uzbekistan abroad aiming at identification and address of problems that exporters face during production and sale of products abroad. The members of the Commission visit regions and disclose both systemic issues that prevent an increase in export potential and an increase in export supplies, and problems of individual exporting enterprises through the direct dialogue with the entrepreneurs.

The members also mentioned that there are units of the Republican Headquarters for the Support of Exporters and Entrepreneurs operating in each region. They are ready to accept an application, review the problem and take effective measures at any time.

The current results of the work of the Government Commission and the Republican Headquarters constituted a presentation specifying certain figures on the enterprises reviewed, problems identified and supporting measures taken.

The webinar also provided the address of Chairman of the Association of Exporters of Uzbekistan M. Umarov about the most pressing concerns in export and effective cooperation with the Ministry of Investment and Foreign Trade and the Export Promotion Agency to resolve them. He also outlined the advantages of the approved Decree for the entrepreneurs and explained in detail its individual paragraphs.

The webinar included a Q&A session. Here, the entrepreneurs were able to receive comprehensive information and advice on the points of interest related to foreign trade and support mechanisms for exporters.

'Today's event proved that live communication directly with business entities provides their quick and complete awareness about the work implemented by the State. After all, everything that our ministry undertakes to support business, execute government documents, ultimately should contribute to macroeconomic stability and benefit all citizens. The rate and efficiency are critically important here. So, we intend to develop this form of interaction with key audiences,' - noted A. Voitov.