In anticipation of the 25th meeting of the Intergovernmental Commission on Economic Cooperation between Russia and Uzbekistan, to be held on 10 December, an online meeting was held between the Minister for Economic Development of Russia, Maxim Rechetnikov, and the Minister for Investment, Industry and Trade of Uzbekistan, Laziz Kudratov, with the participation of the relevant ministries and agencies of the two countries.

Parties discussed the preparation of a road map on trade facilitation. Considered the main sectoral sections of the future document, namely industry, energy, transport, agriculture and finance, and agreed to submit a draft new road map to the co-chairs of the forthcoming inter-committee.

" In view of the challenge of increasing trade to $30 billion by 2030, which the Presidents of Russia and Uzbekistan have put before us, the road map on trade itself we see as an integrated document that will be a practical complement to the main protocol of the inter-laws, Maxim Rechetnikov emphasized. - The activities of the road map should be designed in such a way that, on the one hand, the Russian exports to Uzbekistan should be increased by 2.7 times to $18.2 billion and, on the other hand, the increase in Uzbekistan ' s exports to Russia by 3.6 times to $11.8 billion.

According to the Russian Ministry of Economic Development, there is now a positive trend in the mutual trade of two countries. In the nine months of 2024, Russia ranked second in Uzbekistan ' s foreign trade from 18 per cent, while Russia ' s and Uzbekistan ' s trade had reached $7.5 billion and had increased by 9.8 per cent.

During the meeting, participants discussed scientific and educational cooperation, prospects for Russian companies ' participation in the procurement activities of multilateral development banks projects, as well as the progress of the Agro Express Rapid Rail Project.

" We are now finalizing the issue of Russian State support for the Agro-express project in 2025-2026, as noted by the Deputy Minister for Economic Development of Russia, Dmitri Volvac. - Grants will be provided to Russian organizations importing agro-industrial products from Uzbekistan through rail. At the same time, together with the relevant authorities and business associations, Russian companies are involved in the Agro Express project.

The parties discussed the possibilities of optimizing the transport and logistics routes and the prospects for a freight base of the Agro Express project, based on agrological complex launched in 2023 in the Uzbek town of Jizak.

" As soon as the agrological complex in Jizak is connected to the railway network of Uzbekistan, we will be able to maximize the number of trains and create conditions for the active development of joint projects between Russia and Uzbekistan " , the Deputy Minister summed up.

Source: www.economy.gov.ru

Source: freepik.com

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