Uzbekistan and Russia explore new horizons of cooperation


TASHKENT (TCA) — The Uzbekistan-Russia business forum “New horizons of cooperation” was held in Tashkent, the Jahon information agency reported on September 27.

At the forum, Russian companies were given information about Uzbekistan’s potential in the spheres of industry, agriculture, small business, tourism, activities of free economic zones, and reforms on liberalization of the currency regime.

The forum discussed developing cooperation in the spheres of trade, investment, finance, energy and tourism, creation of new joint ventures, and production of new consumer goods.

Within the framework of the forum, an agreement on cooperation in the field of international commercial arbitration and mediation between the Chamber of Commerce and Industry of Uzbekistan and the Chamber of Commerce and Industry of the Russian Federation, and an Action Plan (Roadmap) on implementation of provisions of the Memorandum of cooperation between the Russian–Uzbek business councils for 2018-2019 were signed.

At the sectional meetings held during the forum, reports were heard on “Expansion and development of mutually beneficial interregional cooperation between the Republic of Uzbekistan and the Russian Federation”, “Tourism as a driver of regional economic development”, and “Transport and logistics in the development of interregional cooperation”.

Russia is one of the leading trade partners of Uzbekistan. In 2016, bilateral trade exceeded 4 billion US dollars. Uzbekistan exports natural gas, cars, chemical, textile, fruit and vegetable products to Russia. Black and nonferrous metals, wood, oil and oil products, electrical engineering, paper products and pharmaceuticals are imported from Russia.

There are 961 enterprises in Uzbekistan with participation of Russian capital and 569 enterprises created with participation of investors from Uzbekistan in Russia.

Sergey Kwan