Uzbekistan and Russia have set their sights on bolstering their economic ties through the establishment of a gas chemical complex in the Bukhara region, as per to a statement from the press service of the Russian Ministry of Industry and Trade on February 19.
The decision to pursue this endeavor was underscored during discussions between President Shavkat Mirziyoyev and Denis Manturov, the Minister of Industry and Trade of the Russian Federation, on February 19. Against the backdrop of a 6.6% increase in trade turnover in 2023, the leaders emphasized the importance of ongoing joint projects spanning various sectors, including industry, energy, transport, metallurgy, chemistry, and pharmaceuticals.
Of particular note were the talks with Deputy Prime Minister Jamshid Khodjaev, during which the focus was on the implementation of significant infrastructure projects. These projects include the establishment of a metallurgical cluster leveraging the Tebinbulak deposit and the development of a copper processing plant at the Almalyk Mining and Metallurgical Combine.
Moreover, the national railway companies of Uzbekistan, represented by Uzbekistan Temir Yollari, and Russia, represented by Russian Railways, solidified their commitment to collaboration by signing a roadmap for the development of cooperation. Discussions also touched upon various aspects of railway transport, infrastructure, energy, modernization of the gas transportation system, and the creation of diverse industrial complexes.
Highlighting the growing interest in fostering economic ties between the two nations, Denis Manturov pointed out that preparations for the upcoming INNOPROM. Central Asia event in Tashkent are well underway, with over 90% of exhibition sites already booked.
Earlier Daryo reported that President Shavkat Mirziyoyev of Uzbekistan examined suggestions aimed at boosting regional economic development and assisting underutilized businesses on February 19. An allocation of UZS 1.5 trillion ($121.4 mn) from the current year's budget has been designated to improve infrastructure in industrial zones. This initiative aims to enhance the attractiveness of these zones, expand business operations, and generate additional employment opportunities.
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