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Trade turnover between Uzbekistan and Russia comprise $4.2bn in 2016

The Russian delegation headed by Deputy Chairman of Russian Government Dmitry Kozak attended the eighteenth meeting of the intergovernmental commission on economic cooperation between the two countries on February 15 in Tashkent.

During the meeting the parties exchanged information and discussed issues of implementation of Protocol decisions of the seventeenth IGC meeting, which took place on March 25, 2016 in Moscow and prospects of trade-economic and investment cooperation, further expanding the legal framework, as well as developing relations in transport, scientific-technical field, environmental protection and other areas.

The Commission stressed the importance of this meeting in the context of the need for quality and careful preparation of the upcoming state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoev to the Russian Federation in April 2017.

Being strategic partners, Uzbekistan and the Russian Federation attach great importance to developing comprehensive mutually beneficial cooperation.

In his speech, Chairman of the Russian part of the Commission Dmitry Kozak gave a high assessment to economic reforms in Uzbekistan, aimed at diversification and the modernization of industry, highlighted the favorable investment climate and opportunities for doing business.

The Russian Federation ranks a solid position as the largest trade partner of the Republic of Uzbekistan. Following 2016 results, the trade turnover between the two countries amounted to $4.2bn.

There are 151 enterprises operating in Uzbekistan with 100% Russian capital, including 810 joint ventures. In turn, 569 enterprises are established within the territory of Russia with the participation of residents of Uzbekistan.
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