Uzbekistan, Turkmenistan officially launch free trade regime

This milestone was achieved under the Protocol on Exemptions from the Free Trade Regime to the agreement on long-term trade and economic cooperation between Uzbekistan and Turkmenistan. The protocol was approved by presidential decree.

As of the implementation of the new trade regime, customs tariffs on most items manufactured within both nations have been removed. Furthermore, trade procedures have been made more straightforward, and limitations on mutual commerce have been removed.

For example, Turkmenistan has abolished customs duties on various Uzbek imports, including cement products, which previously had a 100 percent duty, as well as textiles, furniture, and glassware, which were subject to 50 percent duties. The duties on water heaters, plastic, and polypropylene products have also been removed, having previously stood at 15 and 10 percent, respectively. Furthermore, tariffs on food products such as sausages and meat, which were taxed at $2 per kilogram, and cotton oil, which had a $1 per kilogram duty, have been lifted.

To ensure the effective use of the free trade regime, Uzbekistan’s Ministry of Investment, Industry, and Trade, in coordination with other relevant ministries and agencies, has launched a mechanism to facilitate the export of local products to the Turkmen market.

In 2024, trade turnover between Uzbekistan and Turkmenistan reached $1.14 billion, marking an increase of 5.5 percent compared to the previous year.

Previously, it was reported, that Turkmenistan and EBRD seek new ways to foster growth in banking sector