Russia and Uzbekistan have established a new goal to reach $30 bn in trade volume soon. To facilitate this, Uzbekistan plans to open a comprehensive trade mission in Russia, as it was disclosed by presidential press service.
Between January and April 2024, Uzbekistan conducted trade with Russia totaling $3.8 bn, with exports to Russia valued at $1 bn and imports from Russia amounting to $2.8 bn.
The President of Uzbekistan, Shavkat Mirziyoyev, and the President of the Russian Federation, Vladimir Putin, continued their negotiations in an expanded format, involving official delegations from both countries, on May 27. The discussions focused on advancing the comprehensive strategic partnership and alliance between Uzbekistan and Russia, with an emphasis on political, trade-economic, and cultural-humanitarian spheres.
During the talks, both leaders expressed satisfaction with the current high level and special nature of their bilateral relations, which span all areas of interstate interaction. President Mirziyoyev highlighted the importance of President Putin's visit, stating,
“Your state visit can rightfully be called historical. It marks the beginning of a new milestone in the relations of comprehensive strategic partnership and alliance between our countries.”
The negotiations concluded with an agreement to continue intensive contacts across various levels, including parliaments, governments, ministries, departments, regions, and among public, expert, and business circles.
The leaders underscored the importance of continuing regular political consultations and close interaction within international and regional structures, such as the UN, CIS, SCO, and other multilateral platforms.
In line with the summit, new industrial cooperation projects worth over $20 bn have been developed in various sectors, including energy, metallurgy, petrochemicals, mechanical engineering, mining, agriculture, logistics, pharmaceuticals, and artificial intelligence.
Agreements were reached to modernize Uzbekistan's gas transportation system, increase the volume of gas, oil, and petroleum product supplies, and implement hydrocarbon processing projects. Additionally, an agreement will be signed to build a low-power nuclear power plant in Uzbekistan.
The growing cooperation between the regions of Uzbekistan and Russia was highlighted, with all regional leaders from Uzbekistan visiting Russia last week. On May 27, under the chairmanship of Presidents Mirziyoyev and Putin, the first meeting of the Council of Regions of Uzbekistan and Russia will take place.
Several important areas were discussed, including food security, innovation, digital technologies, artificial intelligence, and migration. Active exchanges in culture, art, science, healthcare, tourism, youth, and sports will continue. The parties welcomed the agreements to open branches of the Bauman Moscow Technical University and the All-Russian Academy of Foreign Trade in Uzbekistan.
During the meeting, members of the delegations presented brief reports with specific proposals for practical interaction in various sectors. Following the negotiations, the heads of state instructed the adoption of “road maps” for each area, complete with implementation mechanisms, to ensure the effective realization of the agreed-upon initiatives.
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