Uzbekistan Hopes For Growth Of Trade With Russia

TASHKENT (Pakistan Point News / Sputnik - 26th April, 2022) Uzbekistan is hoping an increase in trade with Russia, the press service of Uzbek President Shavkat Mirziyoyev said in a statement.

According to the press service, Mirziyoyev and Russian Minister of Industry and Trade Denis Manturov discussed bilateral cooperation. The Russian minister takes part in the international industrial exhibition "Innoprom. Central Asia 2022," which opened in Tashkent on Monday.

"The focus is on increasing the volume of mutual trade, implementing investment programs and promoting new localization projects, and cooperation between the two countries' regions," according to the statement.

Particular attention was paid to the implementation of joint projects in the field of mechanical engineering, metallurgy, agriculture, light industry, chemical and pharmaceutical industries.

Russia remains one of the largest investment and foreign trade partners of Uzbekistan. The investment of Russian companies in the republic's economy have already exceeded $10 billion.

In January-March 2022, Russia retained the second place in the list of the main foreign trade partners of Uzbekistan compared to the same period in 2021. According to official statistics, bilateral trade increased 46 percent in the first quarter to $1.865 billion (14.2% of Uzbekistan's total trade).