Uzbekistan-Russia: Further plans for trade, economic and investment cooperation

The 23rd meeting of the intergovernmental commission on economic cooperation between the Republic of Uzbekistan and the Russian Federation was held on 23 October.

The meeting was co-chaired by Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev and Deputy Prime Minister - Minister of Industry and Trade of the Russian Federation Denis Manturov.

The agenda of the meeting included a wide range of issues related to trade and economic, investment, industrial, transport and logistics, cultural and humanitarian cooperation between the two countries.

In particular, prospects of mutual trade, which has demonstrated a positive growth trend in recent years, were analyzed. Responsible leaders were instructed to take practical measures to diversify mutual trade and bring its volume to a qualitatively new level.

Progress in investment cooperation and industrial cooperation between the two countries in terms of regions and industries was reviewed. The sides expressed mutual interest in exploring new project initiatives and accelerating the implementation of existing joint projects in petrochemicals, mining metallurgy, energy, healthcare and pharmaceuticals, construction materials, light industry, as well as fruit and vegetable processing.

The development of interregional cooperation was another key item on the agenda. It was announced that delegations from a number of regions exchanged visits on the basis of previously approved plans. An agreement was reached to continue the work in this direction, including through the organization of regular online conversations to work out proposals for the implementation of new investment projects and trade agreements.

The meeting concluded with the signing of a final protocol and a solid package of bilateral documents reflecting the key agreements reached during the event.