Trade turnover between Russia and Uzbekistan increases by third in 2022

Trade turnover between Russia and Uzbekistan increased by 37% in the first nine months of 2022, Deputy Prime Minister, Minister of Industry and Trade of Russia Denis Manturov said.

“Partnership between our countries is developing on the rise, and this positive trend is reflected by the statistics of Russian-Uzbek trade, its growth has already amounted to 37%. We expect to reach about $8.5 billion by the end of the year,” Manturov said following the meeting of the intergovernmental commission (IGC) on economic cooperation between Russia and Uzbekistan.

The volume of capital investments of Russian companies exceeded $10 billion. They affect most of the key sectors of the economy – the oil and gas and energy sectors, telecommunications, the agro-industrial complex and a number of industries, Manturov explained.

In addition, within the framework of the IGC, Manturov discussed with the Deputy Prime Minister for Investments and Foreign Economic Relations, Minister of Investments and Foreign Trade of Uzbekistan Jamshid Khodzhaev issues of trade and economic cooperation and partnerships between the two states in the field of industry, agriculture and energy, education, culture and sports.

Uzbekistan has been one of three EAEU observer countries since December 2020. Other observer countries to the Union are Moldova (2018) and Cuba (2020).,
Oct. 24, 2022