October 27, 2016
The most important strategic objective of the Uzbek Republican Commodity Exchange is the diversification of its activities and the development of new areas through the introduction of new methods of exchange technology.

One of these new areas of the exchange activity is electronic system of corporate procurement «E-xarid», which has been operating since 2013 in accordance with the Decree of the President of the Republic of Uzbekistan "On the optimization of the system of electronic procurement and expanding access to business entities» ¹ PP-1948 and Resolution of the Cabinet of Ministers of the Republic of Uzbekistan "on additional measures to improve public and corporate procurement process» ¹166.

According to the press service of the Uzbek Commodity Exchange, in the last period the mechanism of electronic corporate procurement allowed to optimize the procurement activities of natural monopolies, state unitary enterprises and economic societies with the state share in the authorized capital of more than 50 percent, and significantly increase the participation of small businesses and private enterprise entities in corporate procurement.

Electronic corporate purchases are made in the form of e-auction trading on the reduction of the starting price, and in recent years show high growth rates. So, for the period from 2013 to 2015, the volume of electronic corporate procurement increased by more than five times - from 61.8 billion soums (currency rates of CB RU from 27.10.2016, 1$= 3083.96 soums) to 344.3 billion soums. At the same time financial savings by reducing the starting price in the electronic trading grew from 10.6 billion soums to 68.4 billion soums. In addition, the proportion of businesses in the supply of goods in the last year exceeded 98%, and the number of counter-proposals received by suppliers moving in the course of trading has increased from two to seven. This, in turn, shows the development of competition among the entrepreneurs involved in the auction of «E-xarid» system.

This year, for the first 9 months of 2016 the volume of corporate procurement totaled 333.9 billion soums, which is 28% more than in the same period last year. Financial savings also increased from 54.4 billion soums to 73.9 billion soums.

In addition, this year the Cabinet of Ministers adopted a new resolution "On measures on further improvement of a special information portal of" Uzbek Republican Commodity Exchange "and the implementation process of public and corporate procurement" ¹242. The main objective of this document is to increase the level of transparency and competitiveness of public and corporate procurement, the introduction of the implementation process of modern information and communication technologies and the prevention of crime in the procurement process.

This Resolution also approved the procedure for placement and disclosure of the information on a special exchange portal, according to which, procurement notices, their schedules, the results of public and corporate procurement, statistics, rosters agents, guaranteeing and unscrupulous suppliers , information on average prices for commodity and other data are placed on exchange portal.

In the open part of the portal information about prices as a result of purchases of government and corporate levels is also available. This service allows the customers and providers of public and corporate procurement to focus on the situation on the commodity markets when placing their orders. In addition, a function to return the funds in the clearing and settlement chamber of the exchange through the electronic digital signature of the customer has been introduced to the user's personal cabinet, as well as website search system has been optimized.

Furthermore, in order to create additional facilities for Exchange customers, work of the Special Commission on the disputes and disagreements on issues of public and corporate procurement has been simplified. In particular electronic module, which allows the subjects of natural monopolies, companies and organizations with a predominant share to direct the decisions to the special commission of the economic courts of the Republic through a personal account for inclusion in the register of unfair suppliers, has been introduced.

Thus, improving the system of corporate electronic procurement «E-Xarid» contributes to the further development of competition, improves the transparency of electronic trading and the efficiency of their state and public control.

(Source: «Business partner.uz» newspaper)


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