INFORMATION DIGEST OF PRESS OF UZBEKISTAN # 177

uzbek_digestVISIT OF THE PRESIDENT OF UZBEKISTAN TO CHINA.. 2

Uzbekistan-China: Dynamic Сooperation Built on Strategic Partnership. 2

24th anniversary of Independence of Uzbekistan.. 3

Sincere congratulations. 3

BUSINESS CLIMATE.. 3

Fulfillment of contractual obligations by economic establishments. 3

VISIT OF THE PRESIDENT OF UZBEKISTAN TO CHINA

Uzbekistan-China: Dynamic Сooperation Built on Strategic Partnership

President of the Republic of Uzbekistan Islam Karimov arrived September 2 in Beijing at the invitation of President of the People’s Republic of China Xi Jinping.

After the official welcoming ceremony for the President of our country at the Beijing Capital International Airport, the Uzbek delegation headed to the Diaoyutai Residence assigned to it.

President Islam Karimov on the same day met with President Xi Jinping.

The head of our state congratulated the PRC leader on the 70th anniversary of the Victory in World War II and noted that the people of China have made a great contribution to the success.

“It gives me a great pleasure to congratulate you and in your person all the people of China on this auspicious occasion. We bow before the memory of those who fought the invaders, and for the price of their lives and enormous sacrifices made a great contribution to ending the Second World War. The triumph paved the way for the formation of the new China, and it created everything possible to ensure that China now occupies the place of honor, which the country has taken up deservedly,” Uzbekistan’s President said.

Xi Jinping, welcoming Islam Karimov on a visit to China, expressed his gratitude for accepting the invitation.

“I am very pleased to have the opportunity to meet with you. I take this opportunity to congratulate you and the friendly people of Uzbekistan on Independence Day. The Uzbek people who battled fascism in World War II were supporting our people. We will never forget it and appreciate our current mutual cooperation,” China’s President suggested.

The relations between our two nations have been advancing dynamically in the spirit of strategic partnership. The mutually advantageous cooperation covers all areas in politics, economy, trade, industry, finance, construction, science, education and culture. The interaction between Uzbekistan and China have been building on a number of important documents, such as the Joint Declaration on the Establishment of Strategic Partnership, the Treaty of Friendship and Cooperation, the Joint Declaration on the Further Development and Enhancement of Bilateral Strategic Partnership.

Friendship, mutual respect and trust between Islam Karimov and Xi Jinping are important in the development of cooperation between our two countries. The two leaders meet regularly, exchange views on bolstering the bilateral relations. In September 2013, the Chinese President traveled to Uzbekistan on a state visit. The head of our state paid a likewise visit to China in August 2014. Islam Karimov and Xi Jinping also met this past July at the summit of the Shanghai Cooperation Organization in the city of Ufa.

In the course of the Beijing summit talks, the parties discussed in detail the current state of mutual relations and prospects for their further extension.

A number of major investment projects are being implemented in our country in cooperation with China. The most conspicuous cases of effective cooperation are the Central Asia-China gas pipeline, construction of the electrified railroad Angren-Pap, production capacities set up in the industrial zones of Navoi, Jizzakh and Angren. More than five hundred enterprises with Chinese investment have been operating in Uzbekistan.

The volume of mutual trade turnover has been steadfast. The figures have increased threefold for the last 6 years, reaching 4.7 billion U.S. dollars in 2014. In the first half of this year, the bilateral commerce grew by 11.7%.

Islam Karimov said Uzbekistan highly appreciates the cooperation with China, while ties built on mutual trust and interest have been enhancing across all spheres of interaction.

Xi Jinping stressed that China considers our country as one of the prospective strategic partners and that it is interested in the further expansion of cooperation with Uzbekistan.

The two sides exchanged views on a wide range of issues pertinent to boosting the Uzbek-Chinese relations, and discussed regional and international issues of shared interest.

President Islam Karimov then took part in an informal meeting of the Heads of State and Government of the countries invited to China on the occasion of the celebrations.

(Source: Press-service of the President of the Republic of Uzbekistan)

24th anniversary of Independence of Uzbekistan

Sincere congratulations

On the occasion of the 24th anniversary of the independence of our country heads of states and governments of foreign countries, heads of international organizations, prominent public figures and businessmen sent warm congratulations, which were addressed to the President of Uzbekistan Islam Karimov, with best wishes of peace, happiness, prosperity and well-being our people and the President of Uzbekistan.

In particular, congratulations sent by:

Jordan’s King – Abdullah II Bin Al-Hussein

The King of Spain – Felipe VI

King of the Netherlands – Willem-Alexander

President of the Italian Republic – Sergio Mattarella

President of the Republic of Poland – Andzhej Duda

President of the Slovak Republic – Andrej Kiska

Romanian President – Klaus Johannis

President of the Republic of Singapore – Tony Tan Keng Yam

President of the Socialist Republic of Vietnam – Trương Tấn Sang

President of Azerbaijan – Ilham Aliyev

Governor-General of Australia – Peter Cosgrove

Director General of the Food and Agriculture Organization (FAO) – José Graziano da Silva

President of the company “Huawei Technology Co. Ltd.” – Ren Chzhenfey

Member of the German-Uzbek Business Council, an independent consultant for “CLAAS” – Udo Völker.

Congratulations keep coming.

(Source: Press-service of the President of the Republic of Uzbekistan)

BUSINESS CLIMATE

Fulfillment of contractual obligations by economic establishments

The transition to the market economy has dramatically transformed the society’s demand for civil-legal instruments. The freedom to dispose of one’s own property, whose value, as a rule, is not restricted by law for a citizen or organization, in combination with the interest in the most profitable exploitation of such property, has led to the emergence in the civil circulation of legal institutes that were completely unknown in the previous legislation.

Contractual obligations have become prevalent in the civil circulation.  Their utmost importance is confirmed by the fact that the stability of economy and society at large enormously depends on their proper and opportune fulfillment.

The civil legislation’s norms dealing with the fulfillment of contractual obligations have a special role to play, owing to their daily usage by legal entities and citizens alike in their practical activity.

Meanwhile, legal practices show that frequently the contracts are signed quite carelessly and that’s why they usually fail to contain a set of necessary terms designed to help the counterparts realize their vested interests or measures to ensure the fulfillment of contractual obligations by the counterparts. As a consequence, a variety of complications emerge in the course of their implementation, the counterparts interpret one and the same term differently and for this reason often fail to fulfill their contractual obligations properly. This, in turn, may lead to numerous conflicts and disputes.

The most essential task facing the modern science of law is to create legal mechanisms that ensure the fulfillment of contractual obligations in the most efficient and proper manner, as well as the indemnification of one of the counterparts for losses it has incurred as a result of their non-fulfillment or improper fulfillment.

Civil law in the Republic of Uzbekistan approved the freedom of agreement, one of the fundamental principles of private law. As far as the fulfillment of contractual obligations is concerned, the freedom of agreement’s purpose lies in the counterparts’ opportunity of realizing, on a voluntary basis, the right, which is stipulated by contractual obligations. The mutual interest of the counterparts serves as a mechanism for fulfilling their contractual obligations. When it comes to the fulfillment of contractual obligations, the institutes of voluntariness and interest used by the counterparts really work in practice, contributing to the development of market relationships.

Unlike the previous legislation, the current civil law envisages the freedom of agreement, whose main objective is to enable the counterparts to voluntarily realize the right stipulated by their contractual obligations.  That’s why the right has gained a foothold as a chief element in the fulfillment of contractual obligations. The contractual obligation is fulfilled by the counterparts not for fear of certain sanctions stipulated for its non-fulfillment, but in order to realize their own right. The counterparts’ mutual interest underlies a mechanism of fulfilling a contractual obligation. This is the genuine role played by the market economy.

Approved on August 29th 1998, the Law of the Republic of Uzbekistan, “On the contractual-legal basis of activity carried out by economic establishments” is intended to regulate a set of relationships that emerge between economic establishments when signing, implementing, amending and cancelling an economic agreement. The Law specifies the legal principles, on whose basis economic agreements are signed, implemented, amended and cancelled. The rights and responsibilities of economic establishments are also determined there. In addition, the Law outlines the terms of reference enjoyed by both local authorities and state administrative bodies in the field of contractual obligations.

First of all, to ensure the correct and efficient fulfillment of contractual obligations, an economic agreement should stipulate the following details: the subject of agreement, the quality, quantity, product range and the price of goods (works, services) to be supplied, the term of fulfillment, the form of payment, obligations of the counterparts, the responsibility they have to bear for non-fulfillment or improper fulfillment of their contractual obligations, a conflict resolution procedure, legal addresses  of the counterparts, the date and place of signing a given agreement, as well as other significant conditions, which are established by legislation for such economic agreements or specified by one of the counterparts in keeping with its written application.

The freedom of agreement allows the counterparts, when signing a contract and formulating its terms, to raise or to change, at their own discretion, the standard requirements to the quality of the contract’s fulfillment. What’s more, the contract may contain other requirements to the quality of goods (works, services).

Protection of the right denotes the relevant activity carried out by authorized bodies, with its scope being specified by law. Their work includes the establishment of actual circumstances, the application of legal norms and passage of a resolution. The legislation currently in effect in the Republic of Uzbekistan envisages various forms of protection of the subjective rights enjoyed by citizens, enterprises, organizations and institutions: judicial, public and administrative, with the judicial protection being prioritized in compliance with Article 44 of the Constitution of the Republic of Uzbekistan.  The fulfillment of a contractual obligation represents the realization of its content, i.e. when the debtor executes everything it is responsible for and the creditor obtains the expected result.  The obligation’s aim is reached through its proper fulfillment, which puts an end to the obligation itself. The correspondence of the contact’s fulfillment to its terms and conditions is a criterion of the proper fulfillment of a contractual obligation. In the case of dispute between the counterparts, the court interprets the terms of their contract and fills in the gaps in its content where necessary, with a view to establishing this correspondence.

To recognize the fulfillment of a contract as proper, both the term of fulfillment and the place of fulfillment should be taken into account. The contract should be fulfilled by the time and in the place agreed upon by both counterparts. If the term of fulfillment is not indicated in the contract, it is determined in keeping with the law or in accordance with the custom. The debtor’s infringement of the term of fulfillment fixed in the contract is regarded as a delay, on condition that a special mention is made by the creditor of such a delay. It is not necessary to specially mention the expiration of the term of fulfillment, if the counterparts specify this condition or the very character of a contractual obligation presupposes its fulfillment by a certain date. The fulfillment of a contract ahead of schedule is allowed depending on the fact in whose interests the term of fulfillment is fixed. If the term is specified in the debtor’s interests, the creditor’s consent to the fulfillment of a contract ahead of schedule is not required.

If the right is infringed, the subject of entrepreneurship is entitled to protect its infringed right.

Protection of the right denotes the relevant activity carried out by authorized bodies, with its scope being specified by law. Their work includes the establishment of actual circumstances, the application of legal norms and passage of a resolution. The legislation currently in effect in the Republic of Uzbekistan stipulates various forms in which to protect the subjective rights enjoyed by citizens, enterprises, organizations and institutions: judicial, public and administrative, with the judicial form being prioritized in compliance with Article 44 of the Constitution of the Republic of Uzbekistan.

(Source: «Business partner.uz» newspaper)

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