Envoy: Uzbekistan is one of key trade partners of Russia

 

Sat 12 2015 10:41:55

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan continues to remain for Russia as one of key trade partners among the countries of the Central Asian region, Ambassador of Russia to Uzbekistan Vladimir Tyurdenev said. The envoy said that economic and investment cooperation between Russia and Uzbekistan is developing gradually. He noted that unfavorable external economic situation impacted bilateral economic relations and trade turnover. According to the Russian Federal Customs Service, trade turnover between Uzbekistan and Russia fell by 29.2% year-on-year – US$2.14 billion, envoy said. He noted that trade turnover fell in value terms due to reduction of ruble rate, while the physical volume of trade turnover decreased only by 1.8%. In some trade positions, the growth was recorded. In nine months of 2015, Uzbekistan increased physical export of vegetables and fruits to Russia by 78.4%, Tyurdenev said. Russian envoy said that despite this trend, Uzbekistan continues to be one of main key partners of Russian in the Central Asian. Almost one fourth of Uzbek foreign trade turnover fells to Russia, he said. Tyurdenev underlined that Russia is also one of largest investment partners of Uzbekistan. Russian companies invested over US$6 billion into Uzbekistan. There are about 900 joint ventures with Russian investments in Uzbekistan and 500 enterprises with Uzbek capital in Russia, he said. According to the Envoy, the first enterprise with the Russian participation, Armaturno-izolyatorniy zavod, was founded in the special industrial zone Angren. Share of the Russian investor in the venture is 53%. “We are making serious efforts to diversify the Russian-Uzbek cooperation with emphasis on a comprehensive modernization of our economies, expansion of share of industrial goods the turnover. Practical implementation of the Programme of Economic Cooperation between the Governments of our two countries for 2013-2017 is continuing with the focus on projects not only in the oil and gas sector, but in engineering, building materials, chemical, electrical, light and food industry,” Vladimir Tyurdenev said. He recalled that telecom companies like Beeline and UMS (MTS), Russian airlines and representatives of heavy industry – Siloviyi Mashini, Trubnaya Metallurgicheskaya Kompaniya and others - are working actively in Uzbekistan. He said that respectively medium companies like Ahangarancement and Andijankabel are working successfully as well. Head of the Russian diplomatic mission said that cooperation in fuel-energy sector is developing with good tempo as well. Russian oil and gas companies Lukoil and Gazprom are working hard. For example, Lukoil directed US$759 million (+38.3%) into exploration and mining in Uzbekistan in nine months of 2015. Vladimir Tyurdenev said that 2015 was also fruitful for interregional cooperation. Some 70 regions of Russian carried out economic cooperation with Uzbekistan in 2015. The delegations from various regions of Russia visited Uzbekistan. About 19 business missions, which included representatives of over 70 companies from 23 regions, visited Uzbekistan, of which two third entered to the Uzbek market for the first time.

 
 

Currency rates

News

30 Sep 2020 02:11:29
ADB approves US$200 million loan to improve power sector in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — The Asian Development Bank (ADB) today approved a US$200 million policy-based loan to strengthen Uzbekistan’s power sector by improving its financial sustainability and ensuring adequate investment in critical infrastructure.

28 Sep 2020 10:35:54
Enterprises to introduce international standards

Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev held a meeting on 28 September on the effectiveness of reforms in the system of technical regulation, standardization, certification and metrology.

27 Sep 2020 02:18:55
Shavkat Mirziyoyev voiced the most relevant initiatives for today

Tashkent, Uzbekistan (UzDaily.com) -- In his speech at the 75th session of the UN General Assembly, President of our country Shavkat Mirziyoyev came up with an urgent initiative - to develop, under the auspices of the United Nations, an International Code on Voluntary Commitments of States during a Pandemic.

+998 71 2815040

14 Bobur street, Yakkasaroy tumani Tashkent, Uzbekistan


* - Required fields