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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of October 8, 2019 No. PP-4484

About measures for increase in efficiency of activities of the commodity and raw exchanges and further enhancement of mechanisms of stock exchange trading

[Extraction]

In the country consecutive measures for liberalization of economy and reducing administrative regulation, implementation of market mechanisms in realization of highly liquid and exclusive products, and also the advanced information and communication technologies in exchange activities for increase in level of transparency of the exchange biddings and development of healthy competitive environment are taken.

At the same time further development of exchange activities and forming of market mechanisms of pricing on highly liquid and exclusive products requires extension of the inventory, implemented only through the exchange biddings, implementation of the new instruments of trade providing dynamism of the exchange biddings.

For the purpose of creation of equal conditions for access to highly liquid and exclusive products of all business entities, irrespective of patterns of ownership, and also activation of stock exchange trading in the republic:

1. Determine procedure according to which since January 1, 2020:

part of the highly liquid and exclusive products made by legal entities from shares of the state in authorized fund (capital) in the amount of 50 percent and more or legal entities in authorized fund which (capital) of 50 percent and more belongs to the legal entity from shares of the state of 50 percent and more (further - the organization from shares of the state), is implemented for export only through the exchange biddings on the quotas established by the Ministry of investments and foreign trade of the Republic of Uzbekistan;

technical oils, compound feeds, laundry soap, oils from oil processing, the oil solvent, oil paraffin and copper vitriol are sold in the domestic market by enterprise monopolists and organizations from shares of the state on the basis of the market principles only through the exchange biddings with ensuring equal access to the exchange biddings for all buyer categories;

the sugar made by domestic enterprises is sold in the domestic market on the basis of the market principles only through the exchange biddings with ensuring equal access to the exchange biddings for all buyer categories, except for amounts no more than 10 percent from total production, realization subjects under direct agreements through own retail chain stores to the consumers located in the hardly accessible and remote regions of the republic;

oven fuel, fuel oil, the liquefied gas and oil bitumen are implemented by enterprise monopolists and the organizations from shares of the state on the basis of the market principles only through the exchange biddings with ensuring equal access to the exchange biddings for all buyer categories, except for the amounts which are subject to realization under direct agreements to special consumers in accordance with the established procedure;

the highly liquid and exclusive products sold in the domestic market by enterprise monopolists and organizations from shares of the state for direct agreements which are subject to exposure to the exchange biddings are without fail registered by sellers at the commodity and raw exchange with placement of these data on the official website of the exchange within three days according to the moment of the conclusion of the agreement and after obligation fulfillment;

import bargains at the commodity and raw exchanges can be concluded by agreement of the parties in foreign currency according to rules of stock exchange trading. At the same time information on the signed contracts is entered into the Single information electronic system of currency transactions by the commodity and raw exchanges.

2. To the Ministry of Economy and Industry together with the Ministry of Finance and the Antimonopoly Committee of the Republic of Uzbekistan till November 1, 2019 to introduce to the Cabinet of Ministers the draft of the government decision providing procedure for realization of highly liquid and exclusive products at the exchange biddings of the commodity and raw exchanges including by the conclusion of transactions of purchase and sale of exchange goods with condition of their delivery with delay for the term of more than 1 month (forwards).

3. Determine that schedules of exposure of highly liquid and exclusive products to the exchange biddings are posted by enterprise monopolists and the organizations from shares of the state on official websites of the commodity and raw exchanges with updating, if necessary, on monthly basis.

To provide to the Antimonopoly Committee of the Republic of Uzbekistan control of exposure of highly liquid and exclusive products to the exchange biddings in accordance with the established procedure.

4. Cancel requirements and conditions about availability at the exchange at least 100 implemented (provided gratuitously) broker places and observance of qualification requirements to heads of the commodity and raw exchanges when implementing exchange activities.

6. Grant to the Antimonopoly Committee of the Republic of Uzbekistan the right:

make decisions on obligatory exposure of highly liquid and exclusive types of products by enterprise monopolists to the exchange biddings in coordination with the Cabinet of Ministers;

instruct the commodity and raw exchanges on review of the maximum amount of one lot, the highly liquid and exclusive products exposed at the exchange biddings, for non-admission of restriction of circle of participants of the exchange biddings.

7. Make changes to some resolutions of the President of the Republic of Uzbekistan according to appendix.

8. To the Antimonopoly Committee together with other interested ministries and departments to make in the Cabinet of Ministers of the Republic of Uzbekistan offers on the changes and amendments in the legislation following from this resolution in a month.

9. To impose control of execution of this resolution on the adviser to the President of the Republic of Uzbekistan R. A. Gulyamov and the deputy prime minister of the Republic of Uzbekistan D. A. Kuchkarov.

President of the Republic of Uzbekistan

Shavkat Mirziyoev

Appendix

to the Resolution of the President of the Republic of Uzbekistan of October 8, 2019 No. PP-4484

The changes made to some Resolutions of the President of the Republic of Uzbekistan

1. In the resolution of the President of the Republic of Uzbekistan of November 14, 2017 No. PP-3386 "About measures for enhancement of competitive environment, eradication of conditions for abuse and plunders in the field of providing with fuel and energy resources and other highly liquid products, to strengthening of payment discipline, reducing receivables and payables":

to state the subitem "b" of Item 1 in the following edition:

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