Jamshid Khodjaev, Minister of Foreign Trade of the Republic of Uzbekistan

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Jamshid Khodjaev

Minister of Foreign Trade of the Republic of Uzbekistan

In 2000, Jamshid Khodjaev graduated from the Tashkent State Economic University. He speaks English, Russian and Turkish. By winning Scholarship of Fund “Umid”, created on the initiative of the President of Uzbekistan for gifted students, he received an MBA from the University of Birmingham in the United Kingdom in 2003, specializing in international economic relations, public administration. Khodjaev has been constantly maintaining professional growth through taking part in international seminars and training courses at Commerzbank (Germany), the IMF (USA), Standard Bank (South Africa), JPMorgan Chase (USA), the Bank of Russia (Russian Federation), Natixis (France), KB Kookmin (South Korea), DBS (Singapore), Credit Suisse (Switzerland) and other organizations.

Career in the Central Bank of Uzbekistan: In the Central Bank of the Republic of Uzbekistan, Jamshid Khodjaev has went through a professional path from the leading specialist of the Department for Control over Foreign Exchange Operations and External Relations to the Director of the Department for International Reserves Management of the Central Bank of Uzbekistan. During 14 years of work in the structure of the Central Bank of Uzbekistan, he has held a managerial position for 8 years. With Khodjaev’s direct participation, the Central Bank of Uzbekistan has established strategic partnership with the world’s leading banks in international financial and commodity markets, including banks of the USA, France, Switzerland, Japan, Singapore, South Korea and others, as well as the largest information and analytical companies Reuters and Bloomberg. Also, Khodjaev has managed the project on organizing effective management of the country’s foreign exchange reserves based on best practices of leading countries of the world (Japan, South Korea and European countries), introduced a mechanism of fundamental and technical analysis of international financial and commodity markets in cooperation with foreign partner banks.

Work in the National Bank of Uzbekistan: In 2017, taking into account Khodjaev’s professional and personal characteristics, he was appointed to the post of the First Deputy Chairman of the National Bank for Foreign Economic Activity of the Republic of Uzbekistan, where he was in charge of the departments of the Treasury, Foreign Economic Activity, Information Technologies, project finance and others. Also, Khodjayev has actively participated in the processes of modernization of the bank’s activities and the work of its other departments and units.

Activity in the Accounts Chamber of Uzbekistan: In accordance with the Decree of the President of the Republic of Uzbekistan, in August 2017 Khodjaev was appointed First Deputy Chairman of the Accounts Chamber of the Republic of Uzbekistan –  Head of Inspectorate for Control over completeness of revenue to the State Budget of the Republic of Uzbekistan. Within the operations of the Accounts Chamber of the Republic of Uzbekistan, Jamshid Khodjaev was in charge of fiscal policy, ensuring fullness of the profitable part of the budget, fiscal regulation, development and implementation of programs for socio-economic development, investigating the implementation of investment projects, as well as other areas within the competence of the supreme control body of the Republic of Uzbekistan.

On the post of the Minister of Foreign Trade: At the end of 2017, Khodjaev was appointed Head of the Ministry for Foreign Trade of the Republic of Uzbekistan. As one of the main tasks at the Ministry, Khodjaev sees the implementation of consistent liberalization of the country’s economy and bringing it to international standards. Under the leadership of the Minister Khodjaev, the following tasks are being implemented: work on the development and realization of state policy in the foreign trade activities;  implementation of integrated research in global markets, promoting the realization of the export potential of Uzbekistan as well as programs supporting the export of goods, works and services; promoting the expansion and strengthening of trade cooperation of the Republic of Uzbekistan with foreign countries; ensuring favorable access to foreign markets for goods, works and services produced in the Republic of Uzbekistan, developing and implementing measures aimed at diversifying markets; participation in the formation of parameters of the main indicators of foreign trade and in the improvement of the customs and tariff policy of the Republic of Uzbekistan; development of proposals for the liberalization of foreign trade; coordination of activities related to the implementation of the state policy in the sphere of foreign trade in goods (works and services), including specific goods and industrial products, as well as the application of measures of tariff and non-tariff regulation in foreign trade; time processing and implementation of measures for infrastructure development of foreign trade of the Republic of Uzbekistan, in particular on the development of transit potential, logistics and transport corridors.

The Ministry also implements the government’s policy on creation of a system of strengthening the export potential of the republic. Special attention is paid to such issues as the expansion of financial and economic assistance to exporters, improving the efficiency of information and consulting services, improving the conditions for access and activities of local producers in foreign markets, and eliminating existing restrictions and barriers to export activities.