Issues of economic partnership between Uzbekistan and Russia discussed

On the sidelines of the International Industrial Exhibition “Innoprom. Central Asia” Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S.Umurzakov met with Minister of Industry and Trade of the Russian Federation D.Manturov.

During the meeting, topical issues of bilateral cooperation in the field of investment, industry and trade were discussed. The course of implementation of the existing agreements, as well as new directions for the development of mutually beneficial partnership were considered.

Perspectives for deepening industrial cooperation and building interconnected value chains in high-tech and investment-intensive industries such as metallurgy, energy, mechanical engineering, production of specialized equipment for transport, agricultural and road construction purposes, chemical, pharmaceutical industry and the IT sector were studied.

Further steps to increase the Uzbek-Russian trade turnover were discussed. An agreement was reached to study the structure of mutual trade in order to identify specific commodity positions that are promising in terms of increasing mutual supplies of sought-after products in the markets of both countries. The mutual readiness to cooperate on the elimination of existing trade barriers and the creation of favorable conditions for the activation of bilateral trade was indicated.

Following the meeting, the parties worked out and agreed on mutually acceptable solutions on important aspects of further Uzbek-Russian cooperation and promotion of joint projects.