Eurasian Star Blog Business & Economy Uzbekistan and Russia set to increase trade
Business & Economy RU UZB

Uzbekistan and Russia set to increase trade

During a visit to the Russian Federation on July 8, Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan, participated in the first meeting of the Working Group on increasing trade turnover between Uzbekistan and Russia.

Kudratov emphasized the exemplary nature of the development of Uzbek-Russian relations, achieved thanks to the firm political will and trusting relationships between the heads of the two states.

He noted a positive dynamics of stable growth in trade volumes — a 2.5-fold increase over the past 7 years and a 30% increase since the beginning of this year. At the same time, the structure of goods has significantly expanded, and the share of high-added-value products has grown.

It was noted that Uzbekistan and Russia have all the necessary opportunities to achieve the target set by the heads of the two states — to increase bilateral trade to $30 billion by 2030.

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