American Journal of Business Management, Economics and Banking ISSN (E): 2832-8078 Volume 18, | November, 2023 P a g e | 136 www.americanjournal.org PROMOTION OF FOREIGN TRADE IN THE COUNTRY'S ECONOMY B. Z. Arzimatov Assistant, Fergana Polytechnic Institute, Fergana, Uzbekistan E-mail: b.arzimatow@gmail.com A B S T R A C T K E Y W O R D S In this article, the issues of encouraging the country's export policy, strengthening foreign trade relations with foreign countries and eliminating some obstacles, ways to increase the country's export potential, and several proposals are put forward. Trade, export, investment, concession, tax, enterprise, excise, realization, commodity, logistics, insurance, incentive, compensation, market. INTRODUCTION In Uzbekistan, consistent efforts are being made to increase the export potential and provide comprehensive support to exporting enterprises. In the context of the global economic crisis caused by the consequences of the COVID-19 pandemic, further promotion of export activities of business entities is one of the important priorities [1,2]. "Uzbekistan supports the summary of the implementation of "Prospects - 2025", which is the main document of our organization. We believe that it is time to develop a conceptual document "Strategic goals of economic cooperation - 2035" that defines the future priority areas and branches of our organization based on a deep analysis of the great opportunities that are not yet being used. From the speech of the President Shavkat Mirziyoyev [1-6]. This document focuses on facilitating trade in goods and services, eliminating technical and notary barriers, digitizing customs, phytosanitary and veterinary procedures, and developing electronic trade. According to preliminary calculations, through these measures, it is possible to double the volume of mutual trade by 2035," President Shavkat Mirziyoyev said [7-9]. The Decree of the President of the Republic of Uzbekistan "On measures to further expand financial support for export activities" adopted on October 21 of this year is a logical continuation of the measures taken to promote exports in the country. In recent years, the development of trade is considered as the main direction of the economic reforms being carried out in Uzbekistan. The government has been implementing a number of measures to reform this sector, simplify and optimize its procedures, remove tariff and non-tariff barriers, expand export nomenclature and geography. American Journal of Business Management, Economics and Banking Volume 18 Nov., 2023 P a g e | 137 www.americanjournal.org The Main Part In the field of customs administration, customs duty rates have been halved, import rates for more than 3,500 types of products and excise taxes for more than 1,000 types of products have been reduced to zero. At the same time, an automated management system was introduced, the procedure for requesting unnecessary documents during export-import operations was canceled, and a "single window" customs information system was introduced [9-12]. Similar work was carried out in the field of tax administration. In particular: • payable taxes were reduced from 13 types to 9 types; • the right of tax authorities to collect tax debts at the expense of the taxpayer's debtors has been canceled; • the practice of granting tax benefits and preferences only in accordance with the Tax Code was introduced; • a favorable tax system for entrepreneurs was created, the value-added tax rate was reduced from 15% to 12%, and an accelerated VAT refund procedure was introduced; • the procedure for pre-trial settlement of tax disputes was established and liability measures were determined depending on the type of tax offense; • instead of 4% to 25% sales tax rates, a single 4% tax rate was introduced; • the profit from the realization of exports was fully exempted from tax (from November 1, 2022); Also, as a result of the reduction of taxes and tax benefits, funds remained in the accounts of business entities, and their working capital increased (it is expected that 14 trillion sums will remain at the disposal of entrepreneurs). In addition, in recent years: • the procedure for compulsory sale of foreign exchange earnings from exports was completely canceled for all exporting enterprises; • the right to export goods and services in foreign currency without guaranteed payment (advance payment, letter of credit, bank guarantee and insurance); • it was allowed to export goods with a total value of no more than 5,000 US dollars without submitting a customs declaration; • benefits were provided for profit tax and single tax payment from legal entities for the part corresponding to the volume of export sales of products; At the same time, the Chamber of Commerce and Industry helped more than 600 business entities to export products worth 548.7 million dollars to foreign countries in the last period. Comprehensive measures for financial support of exporters have been developed and implemented, in particular, products with the presidential decree "On additional measures to support participants in foreign trade activities" Subsidies are provided to local enterprises to cover transport costs for export, and costs related to accreditation and certification are covered by the Export Promotion Agency. The Export Promotion Agency under the Ministry of Investments and Foreign Trade is an authorized body for implementation of practical measures to support local exporters. It compensates exporters for participation in international exhibitions and fairs, for the release of national products and brands to foreign markets, and for obtaining international standardization and international certificates. American Journal of Business Management, Economics and Banking Volume 18 Nov., 2023 P a g e | 138 www.americanjournal.org Because of this, the export geography of Uzbekistan is also increasing. In particular, this indicator has been expanded to include the markets of 52 new countries, silk women's shirts to Italy and Latvia, copper wire products to Cameroon, sewing machines to Turkey and Iran, washing machines to Moldova, national musical instruments to Israel, mosh flour to Korea and Automobile spare parts were delivered to Angola for the first time. Statistics Agency according, the volume of foreign trade turnover increased by 22.1% compared to the corresponding period of the previous year. In this case, export - 17.7 billion, import - 27.0 billion dollars. China (21.1 percent), Russia (15.7 percent), Kazakhstan (7.2 percent), Turkey (5.3 percent), and the Republic of Korea (3.8 percent) have a relatively significant share of foreign trade turnover. . In January-September 2023, Uzbekistan established trade relations with 193 countries of the world. Experts of the Institute of Macroeconomic and Territorial Studies will assess the export of fruit and vegetable products of Uzbekistan in January-August 2023 analyzed. Peaches (nectarines, 8.8 percent), cherries (6.9 percent), onions (6.9 percent), grapes (6.1 percent), raisins (5.5 percent) have the largest share in the export of fruits and vegetables. , apricots (4.3%), melons, watermelons (4.8%) and tomatoes (3.3%). During the first 8 months of the year, 1 million 246.9 thousand tons of fruit and vegetable products with a total value of 763.6 million dollars were exported to foreign countries. This is 16.7 percent more than in the same period of 2022. The share of fruits and vegetables in the total volume of export was 4.6 percent. The main export markets of fruit and vegetable products of Uzbekistan are Russia (42 percent), Pakistan (15.4 percent), Kazakhstan (12.1 percent), Kyrgyzstan (8.4 percent), China (8.3), Turkey (2.2 percent), Belarus ( 1.6 percent), Afghanistan (1.3 percent), Iran (0.9 percent), Iraq (0.9 percent). "In 2022, Uzbekistan exported 81,800 tons of watermelons. This year, the country left this record behind and managed to sell nearly 96 thousand tons of watermelons to foreign markets in May- August. - By the end of this September, Uzbekistan may exceed the historical limit of 100,000 tons for the first time. The above figures show that the measures to stimulate the foreign market are bearing fruit, and it is not only the basis and support of the country's economy, but also the reason for the growth of people's lifestyle. REFERENCES 1. Decree of the President of the Republic of Uzbekistan dated 05.07.2020 No. PQ-4707 "On measures to further support export activity"; 2. 24.08.2022 of the President of the Republic of Uzbekistan. Decree No. PF-198 "On measures to reliably protect the inviolability of property rights, prevent unreasonable interference in property relations, and increase the level of capitalization of private property"; 3. Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 46 of 30.01.2020 on measures to further improve the activities of the export-import national insurance company "UZBEKINVEST"; 4. Decree of the President of the Republic of Uzbekistan dated 28.01.2022 No. PF-60 on the development strategy of the new Uzbekistan for 2022-2026"; https://t.me/ifmr_public/4494 American Journal of Business Management, Economics and Banking Volume 18 Nov., 2023 P a g e | 139 www.americanjournal.org 5. Arzimatov B.Z., Askarova R.N. 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