Russia aims to more than double its trade turnover with Uzbekistan by 2030, with a notable surge of 11.5% in mutual trade volume during the first nine months of this year, according to Deputy Prime Minister and Head of the Ministry of Industry and Trade, Denis Manturov. Speaking at a meeting of the intergovernmental Russian-Uzbek Commission on economic cooperation, Manturov highlighted the record-breaking year of 2022, where trade reached RUB 785bn ($8.3bn).
"Our priority task is to increase mutual trade by more than 2030, and we all have the prerequisites for this," Manturov stated, emphasizing the growth trajectory observed in the first three quarters of the current year.
Manturov underscored Russia's significant role as a key investor in Uzbekistan's economy, noting that Russian companies have already invested over RUB 1.2 tn ($13.2bn). This investment has been directed toward expansive infrastructure and industrial projects.
The Deputy Prime Minister provided insights into ongoing collaborative efforts between the two nations, stating, "At the initiative of the Uzbek side, we have some projects in development, aiming to establish a metallurgical cluster based on the Tebinbulak field, construct a copper and processing plant at the facilities of Almalyk MMC, initiate a gas chemical complex in the Bukhara region, and set up thermal power plants."
Manturov highlighted the creation of joint industrial parks in Uzbekistan, citing successful openings in Chirchik and the Jizzakh region. He revealed plans to extend this cooperative practice to Navoiy, Bukhara, and Samarkand regions, thereby fortifying industrial cooperation between the two nations.
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