Uzbekistan “is always ready for close and constructive interaction with Russia in the whole range of bilateral and multilateral relations”, prime minister Abdulla Aripov said at the meeting of the Joint commission, co-chaired by Russian prime minister Mikhail Mishustin in Tashkent on 9 September.
Record figures
Adulla Aripov. Photo: government.ru.
Russia remains Uzbekistan’s key foreign economic and one of the largest investment partners, Abdulla Aripov emphasized. Over the past seven years, trade turnover between the two countries increased 2.5 times, exceeding $10 billion by the end of 2023. In the first seven months of this year, the figure grew by an additional 30%.
During Russian president Vladimir Putin’s state visit to Tashkent in May, the heads of two states set a target to increase mutual trade to $30 billion by 2030. “To achieve this, it is essential to implement concrete joint measures for industrial cooperation and import substitution projects,” Abdulla Aripov said.
Uzbekistan currently hosts over 3,000 joint ventures with Russia, with the project portfolio surpassing $60 billion.
“We plan to further enhance cooperation with leading enterprises of the Russian Federation. The joint investment platform was established on the initiative of the heads of states. It will serve firstly to finance significant infrastructure and industrial projects in Uzbekistan benefiting both countries,” he added.
Transport transit cooperation is a key area of cooperation, the prime minister continued. “We are keen on developing new international transport corridors to access promising markets for our products,” he noted.
The past year saw a record 700,000 Russian tourists visiting Uzbekistan, which is equal to one in ten tourists, Abdulla Aripov said. The frequency of flights between the countries is almost 300 per week. No other country can boast such figures, he added.
“Uzbekistan is a reliable partner for Russia”
Mikhail Mishustin. Photo: government.ru.
Mikhail Mishustin called Uzbekistan a “reliable partner of Russia”. “The relations between our countries are based on principles of equality, respect and consideration of mutual interests. We are actively expanding our economic and investment collaboration,” he stressed.
According to Russian statistics, trade turnover grew by 11.5% last year, which is about $9 billion, and by nearly 9% in the first half of this year. “I believe we have all capacities to reach [the strategic task of a $30 billion turnover],” Mikhail Mishustin said.
He said deepening industrial cooperation and expanding export-import chains were key areas for growth. He also noted that Russian investments in Uzbekistan’s economy are on the rise, with Russian retailers and e-commerce companies increasing their presence rapidly.
“The energy partnership, including supplies of natural gas, oil and oil products from Russia to Uzbekistan, is progressing well. We are putting into practice cooperation in peaceful nuclear energy with the participation of our company 'Rosatom',” the head of the Russian government said.
“We propose to develop other directions as well. We are studying the possibilities of organizing high-tech production of polymers, localization of production of civil unmanned aerial systems and their components. A decision has been made to create production facilities in Uzbekistan in the field of railway engineering,” he said.
Mikhail Mishustin also noted that “Uzbekistan's participation in Eurasian integration could unlock additional business benefits for the country by opening new markets and fostering fair competition”.
