Uzbekistan and Russia have consistently boosted their bilateral trade by an average of 20% annually over the past five years. Prime Minister Abdulla Aripov made this announcement during a meeting of the Russian-Uzbek commission at the level of heads of government.
"The Russian Federation has consistently been and remains our primary foreign economic partner. Over the past five years, we have achieved an average annual growth rate of 20% in our mutual trade. We are confident that we can accomplish the task set by our heads of state, which is to reach a trade turnover of $10 billion in equivalent this year," he stated. He emphasized the importance of ongoing collaboration to create favorable conditions and remove trade barriers to achieve this goal.
According to the prime minister of Uzbekistan, Russian investments in the Uzbek economy have been steadily increasing. Over the past three years, the number of enterprises with Russian capital in Uzbekistan has doubled, nearing three thousand. Ongoing industrial cooperation projects span various sectors, including mining and metallurgy, chemicals, agriculture, machinery, and electrical engineering. Aripov also mentioned that Uzbekistan is currently working with Russian companies to develop a new investment package.
Furthermore, the establishment of joint industrial parks has emerged as a promising avenue of cooperation. The Chirchik chemical technopark in the Tashkent region is already operational, with a new technopark project initiated in the Jizzak region in April. Agreements are being prepared for the creation of similar parks in the Navoi and Bukhara regions. Aripov highlighted the significant role played by growing ties between regions, noting approximately 50 visits by regional delegations in the first half of the year. He anticipates that the upcoming interregional cooperation forum in Tatarstan in early October will lead to further agreements and advancements in their collaboration.
GSV "Russia - Islamic World"
Photo: Federation Council
Based on materials from TASS