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    Uzbekistan Economics

    Uzbekistan and Russia's portfolio of joint projects reaches $45bn

    Uzbekistan and Russia's portfolio of joint projects reaches $45bn

    The strategic partnership between Uzbekistan and Russia continues to flourish, with the portfolio of joint projects between the two nations now totaling an impressive $45bn. This milestone was highlighted during a meeting between President Shavkat Mirziyoyev of Uzbekistan and President Vladimir Putin of Russia at the Koksaroy residence.

    Photo: President Mirziyoyev with President Putin
    Source: Daryo

     

    President Mirziyoyev warmly welcomed President Putin, noting the importance of this visit, one of Putin’s first foreign engagements to Uzbekistan following his recent re-election. 

    The meeting focused on expanding and deepening the comprehensive strategic partnership and alliance between Uzbekistan and Russia. This high-level dialogue builds on a series of preparatory events, including parliamentary meetings, political consultations, the "Innoprom" exhibition, and conferences featuring leading engineering, technical, and medical institutions from both nations. The Russian Art Week events in Tashkent further highlighted the vibrant cultural exchanges taking place.

    Both leaders expressed satisfaction with the growing pace of trade and economic cooperation. The volume of mutual trade and investments from Russia is on the rise, and industrial collaboration is progressing robustly. 

    Photo: Leaders focus on expanding the Uzbekistan-Russia strategic partnership
    Source: Daryo

     

    Uzbekistan's trade turnover with Russia reached $3.8bn from January to April 2024. Exports to Russia were valued at $1bn, while imports from Russia totaled $2.8bn. To bolster these initiatives, the leaders agreed to launch a Joint Investment Platform aimed at fostering collaboration among leading enterprises.

    Interregional cooperation was another key focus, marked by the first meeting of the Council of Regions of Uzbekistan and Russia held under the presidents' chairmanship. This council aims to enhance bilateral ties at the regional level, promoting economic and social integration.

    Photo: Leaders reaffirm commitment to regional stability and development
    Source: Daryo

     

    Energy cooperation, particularly in nuclear energy, alongside agriculture, innovation, migration, and security, were prominent topics of discussion. Both leaders recognized the mutual benefits of advancing these sectors and committed to continued collaboration.

    The presidents also highlighted the importance of cultural and humanitarian exchanges, with a new cultural cooperation program set to be formalized during this visit. Special attention was given to educational cooperation, specifically in the training of engineering personnel. Agreements were reached to establish branches of Moscow Technical University named after Bauman and the All-Russian Academy of Foreign Trade in Uzbekistan.

    In addition to bilateral issues, the leaders exchanged views on regional and international matters of mutual interest, reaffirming their commitment to maintaining stability and fostering development in the broader region.

     

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    27.05.2024, 15:10   Comments (0)   1558
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