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. Last Updated: 07/27/2016

Uzbekistan Plans to Slash Imports

TASHKENT, Uzbekistan — Ex-Soviet Uzbekistan has approved a plan that will allow it to cut back on imports of industrial components and save up to $1.1 billion per year by 2005, a Cabinet resolution received on Tuesday said.

The plan indicates the country intends to continue its plan of import substitution, launched after currency controls were imposed in 1996.

The resolution said the program would help boost industrial production and exports of value-added goods, save foreign exchange and create new jobs in the Central Asian state of 24 million people.

It envisions production of car parts for the Uz-Daewoo automobile joint venture that would allow Uzbekistan to save $200 million on imports yearly, as well as the manufacture of tractor and harvest combine parts.