Tashkent, Uzbekistan (UzDaily.com) —  The 25th meeting of the Russia-Uzbekistan Intergovernmental Commission was held with the participation of Denis Manturov, First Deputy Prime Minister of Russia, and Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan.

Key topics included discussions on bilateral trade and investment cooperation.

According to Denis Manturov, bilateral trade turnover increased by 10% in the first nine months of 2024. A significant factor in this growth was the active use of national currencies in settlements, which accounted for over 70% of transactions.

Russian investments in Uzbekistan’s economy grew by 17% during the same period.

Currently, over 3,000 enterprises with Russian participation operate in Uzbekistan, representing a quarter of all foreign companies in the country. These achievements form a solid foundation for achieving the goals set by the leaders of both nations to expand trade volumes.

A number of bilateral agreements were signed to provide a systematic framework for advancing cooperation in key areas such as technology, exports, and new initiatives.

Russian companies are successfully implementing joint projects with Uzbekistan, including preparations for constructing a Russian-designed small modular nuclear power plant and long-term natural gas supplies. Manturov noted that the project documentation for the nuclear power plant is already under development.

In September, Uzatom and Atomstroyexport signed a protocol to commence work on the project. Uzatom plans to secure a construction permit by 2026.

Additionally, Uzbekistan and Russia are working on a feasibility study for the Trans-Afghan Railway project. Manturov also highlighted the potential for expanding collaboration in artificial intelligence (AI) and cybersecurity.

Gas fields in Uzbekistan are being actively developed, and in May 2024, a joint drilling management center was inaugurated.

The meeting also covered partnerships in areas such as transportation, agriculture, and e-commerce, which hold significant potential for future growth.

Jamshid Khodjaev expressed confidence in further strengthening mutually beneficial ties between the two countries, emphasizing the importance of growing mutual trade and deepening cooperation at all levels.