Uzbekistan and Russia Set Ambitious Trade Goals for the Future

Photo: Uzbekistan's Ministry of Investment, Industry and Trade

Uzbekistan and Russia have discussed a strategic plan to boost bilateral trade between 2024 and 2030, aiming to reach a trade turnover of $30 billion, The Caspian Post reports citing Trend.

Laziz Kudratov, Uzbekistan's Minister of Investments, Industry, and Trade, revealed the details during the third meeting of the working group on boosting trade between Uzbekistan and Russia.

During the meeting, officials from both nations reviewed the current status of their bilateral relations and outlined measures to expedite the implementation of agreements across key sectors, including trade, industry, energy, transportation, and agriculture.

The two sides decided to hold the next session of the Intergovernmental Commission on Economic Cooperation in Moscow later this year and reaffirmed their commitment to enhancing multifaceted cooperation.

Notably, the trade volume between Uzbekistan and Russia has surged by 20 percent, reaching $9.7 billion over the first ten months of this year. Additionally, the range of products supplied by Uzbek manufacturers has expanded with the addition of 68 new items.