Friday, 03, February, 2023

The Uzbek-Russian business forum was held on December 1 in Samarkand, the Ministry of Investments and Foreign Trade reported.

The Uzbek delegation at the event was headed by Deputy PMinister Jamshid Khodjaev, and the Russian delegation - by the Minister of Economic Development of Russia Maxim Reshetnikov.

The heads of delegations pointed to the the positive trend in the trade between Uzbekistan and Russia. Over the past five years, trade between the countries has grown by 170%, and by the end of 2021, by another third, exceeding $7.5 billion. The parties expressed their interest in bringing the volume of mutual trade up to $10 billion.

The number of enterprises created in Uzbekistan with the participation of Russian capital exceeded 3,000 units. About 200 joint projects with Russian companies worth over $20 billion are being implemented in the fields of petrochemistry, energy, mining, healthcare and pharmaceuticals, light industry, production of building materials, and fruit and vegetable processing.

The heads of the delegation noted that cooperation could be stepped up in the automotive industry, the chemical and textile industries, agriculture and pharmaceuticals, and the production of building materials.

The parties pointed to the need to continue joint work on the development of interregional cooperation in order to develop new projects of industrial cooperation and trade agreements.

In the near future, the schedules of mutual visits of the provinces for the 2023 will be approved, and a specific date for the next third Interprovincial Forum will be agreed, the MIFT said in a statement following the forum.

Latest in Business