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Uzbekistan, Russia develop economic cooperation

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Uzbekistan, Russia develop economic cooperation

Moscow hosted a meeting between the co-chairs of Uzbekistan – Russia Intergovernmental Commission on Economic Cooperation, Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and Minister of Economic Development of Russia Maxim Reshetnikov.

The parties exchanged views on the progress of economic partnership and further steps to deepen it.

According to Uzbekistan MIFT, the parties noted the successful holding of the meeting of the Joint Commission at the level of the heads of government of the two countries, noting that such a format of interaction is an effective tool for strengthening Uzbekistan – Russia multifaceted cooperation.

The sides discussed issues of investment cooperation. They highly appreciated the dynamics of the increase in the inflow of Russian investments into the economy of Uzbekistan and noted the importance of increasing joint industrial cooperation projects.

A positive trend in the development of mutual trade was noted. In 2020, the growth of Uzbekistan – Russia trade turnover amounted to 13 percent compared to 2019, and in January-May this year, it increased by 15 percent compared to the same period last year. The growth of Uzbekistan’s exports to Russia increased by 24 percent.

Following the meeting, the parties outlined further steps for practical cooperation to accelerate the solution of common problems within the framework of economic cooperation.

UzA