LAW OF THE REPUBLIC OF UZBEKISTAN

of June 14, 1991 No. 285-XII

About foreign economic activity

Article 1. Main objectives of this Law

This Law regulates, the relations connected with implementation of foreign economic activity. The main objectives of this Law are ensuring economic safety, protection of economic sovereignty and economic interests of the Republic of Uzbekistan when implementing foreign economic activity, stimulation of development of national economy, creation of conditions for integration of national economy into world economic system.

Article 2. Legislation on foreign economic activity

The legislation on foreign economic activity consists of this Law and other acts of the legislation.

If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about foreign economic activity then are applied rules of the international treaty.

Article 3. Foreign economic activity

Foreign economic activity is understood as the activities of legal entities and physical persons of the Republic of Uzbekistan directed to establishment and development of mutually advantageous commercial ties with legal physical persons of foreign states, and also the international organizations.

The legal entities registered in the Republic of Uzbekistan and also the physical persons having the permanent residence in the territory of the Republic of Uzbekistan and registered as individual entrepreneurs have the right to be engaged in foreign economic activity.

State bodies of the Republic of Uzbekistan can perform foreign economic activity if other is not established by the legislation.

Article 4. Basic principles of foreign economic activity

The basic principles of foreign economic activity are:

freedom and economic independence of subjects of foreign economic activity;

equality of subjects of foreign economic activity;

non-admission of discrimination when implementing trade and economic relations;

mutual benefit when implementing foreign economic activity;

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