The regular meeting of the Uzbek-Ukrainian Business Council took place in Kyiv on Monday, April 15th, as announced by the co-chairman of the council, founder of the supermarket chain "Korzinka" Zafar Hashimov. This Council, established in 2021 by the Chambers of Commerce and Industry of Uzbekistan and Ukraine, aims to strengthen cooperation between entrepreneurs of both countries.
The meeting was attended by the Ambassadors of Uzbekistan and Ukraine, as well as representatives from business circles of Ukraine. During the meeting, the parties acknowledged existing issues in their interaction and outlined measures to address them. One of the problems highlighted was the customs value of textile products coming into Ukraine from Uzbekistan, which is often determined by Ukrainian customs at a higher rate than stated in invoices, leading to increased VAT on Uzbek products entering the Ukrainian market.
Hashimov stated that this issue was brought to the attention of Ukrainian partners and officials, and measures are being taken to resolve it. Additionally, proposals were discussed regarding the relocation of several Ukrainian manufacturing plants to Uzbekistan, affected by the war, and expanding cooperation in the creative economy sector.
Previously, the Ukrainian Ambassador to Uzbekistan, Nikolay Doroshenko, mentioned that due to the military actions, the trade turnover between Uzbekistan and Ukraine, which had been showing growth by the beginning of 2022, had once again decreased. By the end of 2023, it amounted to over $320 million, compared to $747 million by the end of 2021. Despite the challenges, there is hope for a gradual recovery and enhancement of trade relations between the two countries.
