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Uzbekistan and Russia aim to boost trade volume to $30 billion
The delegation of Uzbekistan, headed by the Minister of Investments, Industry, and Trade Laziz Kudratov participated in the first Caucasus Investment Forum held in Grozny.
Photo: Ministry of Investments, Industry and Trade
According to the MIIT, Laziz Kudratov, speaking as a presenter at the plenary session, emphasized the importance of developing interregional cooperation between Uzbekistan and Russia to achieve the goal set by the leaders of both countries to increase mutual trade volume to $30 billion.
Russia is one of Uzbekistan's main trade and economic partners. Over the past seven years, the volume of trade between Uzbekistan and Russia has increased 2.5 times, reaching nearly $10 billion by the end of 2023. The composition of goods exchanged is qualitatively changing, with a higher proportion of products with high added value.
Additionally, the priority areas for developing relations include establishing new joint industrial zones to deepen industrial cooperation, forming joint financing mechanisms, developing tourism, and expanding cooperation in agriculture and cultural-humanitarian sectors.
The minister called on representatives of Russian regions and Russian businesses to take full advantage of the opportunities created in Uzbekistan to successfully implement mutually beneficial new projects and initiatives.
