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Trade turnover between Uzbekistan and the Russian Federation grew by 18%, up to $ 3.1 billion

Sardor Kodirov, the head of the department of the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan, said at a briefing that in the period of January-June 2021, the trade turnover of Uzbekistan with Russia increased by 18% to $ 3.1 billion.

According to the Sardor Kodirov, the Russian Federation is one of the three main trade partners of the Republic of Uzbekistan. In recent years, the volume of mutual trade between the two countries has increased by almost 20% and at the end of 2020 amounted to $ 5.6 billion.

As of today, there exists 2.2 thousand enterprises with the participation of the Russian capital in the Republic of Uzbekistan. In turn, there are 600 companies from Uzbekistan operate in the Russian Federation.

Today, the countries are implementing 154 joint Uzbek- Russian investment projects worth $ 16.6 billion. Among them are large projects in such areas as the production of components and spare parts ($ 300 million), the production of medicinal substances and finished products ($ 147 million), metallurgy ($ 664 million), and chemical industry ($ 755 million).

Based on recent information, the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan intends to open a representative office in the capital of Russia. The trade mission will assist in the implementation of projects on trade and economic cooperation with the Russian Federation. It will also work to attract direct investments and technologies, as well as to increase the volume of Uzbek exports to Russia.