Uzbekistan, Russia discuss increasing bilateral trade turnover

During the meeting, topical issues of bilateral cooperation in the field of investment, industry and trade were discussed. The sides considered the progress of implementing the existing agreements and defined new directions for the development of mutually beneficial partnerships.

Opportunities for deepening industrial cooperation and building interconnected value chains in high-tech and investment-intensive industries such as metallurgy, energy, engineering, production of specialized transport, agricultural and road construction equipment, chemical, pharmaceutical industries and the IT sector were studied.

The parties discussed further steps to increase the Uzbek-Russian trade turnover. An agreement was reached to study the structure of mutual trade in order to identify specific commodity items that are promising in terms of increasing mutual deliveries of products that are in demand on the markets of both countries. Mutual readiness for interaction to remove existing trade barriers and create favorable conditions for intensifying bilateral trade was indicated.

Following the meeting, the parties developed and agreed on mutually acceptable decisions on important aspects of further Uzbek-Russian cooperation and the promotion of joint projects.