17 May 2021 –
The International Convention on the Simplification and Harmonization of Customs Procedures adopted in Kyoto (Japan) on May 18, 1973 (as amended on June 26, 1999) entered into force for Uzbekistan on May 16, 2021, Trend reports referring to Dunyo news agency.
It is noted that Uzbekistan joined the Kyoto Convention in accordance with the law No. ЗРУ-654 of December 21, 2020.
According to the information, Uzbekistan’s participation in the Kyoto Convention will create more favorable conditions for attracting foreign investment in the country’s economy, contributes to the country’s accession to the WTO (World Trade Organization), as well as to improve Uzbekistan’s ratings in the annual report of the World Bank and the International Finance Corporation.
The Kyoto Convention is a universal international treaty that regulates practically all customs issues. It aims to facilitate trade by harmonizing and simplifying customs procedures and regulations. In this regard, the Convention contains standards and practical recommendations in terms of modern customs procedures and techniques.
In addition, the Kyoto Convention helps to stimulate foreign trade activities, including the activities of special (free) economic zones by simplifying and accelerating customs clearance and customs control procedures. At the same time, the convention aims to ensure that such acceleration and simplification does not lead to damage the interests of the state.
The Convention obliges states to build their national legislation (the Customs Code, laws on foreign economic activity, special economic zones and others) in such a way that customs formalities are simple, understandable and predictable.