Uzbekistan, Russia sign agreements worth $9 billion during the interregional cooperation forum

On November 17, in Moscow, the II Forum of interregional cooperation between the Republic of Uzbekistan and the Russian Federation took place in a hybrid format.

The event brought together more than 800 participants – government members of, heads of regions, ministries, departments, industry associations, business associations, representatives of large companies and the private sector of the two countries.

Within the framework of the event, separate thematic sessions were organized, during which important topics were raised related to enhancing interaction between the regions of the two countries in the spheres of economic, social and infrastructural development, the introduction of digital technologies, the implementation of joint projects in the field of agriculture, increasing the volume of mutual trade, expanding transport links and developing tourism.

Also on the sidelines of the event, the heads of the administrations of the regions of Russia and Uzbekistan held a number of bilateral meetings and negotiations, during which agreements were reached on the implementation of specific projects and initiatives.

Following the business meetings and negotiations held on the sidelines of the Forum, about 600 bilateral agreements totaling $9 billion were signed, including 141 investment projects worth $7.4 billion and 455 export contracts worth $1.6 billion. The investment projects will be accompanied by a joint Project Office set up between the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan and the Ministry of Industry and Trade of the Russian Federation. It was also announced that the regional administrations of the two countries will start working on 75 new investment projects in promising industries.

The agreements reached covered such areas of cooperation as metallurgy, energy, chemical, electrical, leather and footwear, textile and pharmaceutical industries, water management, oil and gas industry, as well as banking and financial sector.