Tashkent, Uzbekistan (UzDaily.com) -- Russia is one of the leading trading partners of Uzbekistan. Bilateral trade between the countries is growing at a good pace, reflecting close economic ties and mutual cooperation. This was stated by Russian President Vladimir Putin during negotiations with the head of Uzbekistan Shavkat Mirziyoyev.

He expressed confidence that thanks to favorable investment policies, direct Russian investments in Uzbekistan are increasing every year and have already reached almost US$10 billion. 

President Putin noted that there are about three thousand enterprises with Russian participation in Uzbekistan, and about 700 companies with Uzbek capital operate in Russia. This close relationship contributed to the strengthening of positive dynamics in trade and investment, as well as the work of a joint commission at the level of heads of government of the two countries.

He added that the intergovernmental commission, headed from the Russian side by First Deputy Prime Minister Denis Manturov, is actively resolving issues related to economic cooperation. As part of the economic cooperation program for 2022–2026, a list of measures was adopted, approved following the Moscow negotiations in October 2023.

President Putin also noted a significant event - the holding of the IV International Industrial Exhibition “INNOPROM. Central Asia". More than 400 companies represented Russia at the exhibition, including such large corporations as Rosatom, Rostec, KAMAZ, Sber, Severstal and others.

Putin recalled that on 7 October 2023, Russia, Kazakhstan and Uzbekistan launched supplies of Russian gas to Uzbekistan through the territory of Kazakhstan. President Putin noted that exports are being carried out well ahead of schedule and the volume of supplies can be increased if necessary.

According to him, a number of large infrastructure projects are under development in priority sectors of the economy, such as the construction of a metallurgical cluster, a gas chemical complex, a copper processing plant and other facilities. 

Financial support for these projects is provided by leading Russian credit organizations, including the VEB State Development Corporation and Gazprombank, the head of the Russian Federation added.

President Putin expressed satisfaction that about 80 constituent entities of the Russian Federation are actively interacting with the regions of Uzbekistan. He noted that during the meeting of the Council of Regions of Russia and Uzbekistan, a number of interregional documents on cooperation will be signed, which provide for the implementation of many large investment projects.

Russia and Uzbekistan continue to strengthen their economic ties by developing trade and investment cooperation. President Putin emphasized the importance of this partnership for the further growth and development of the economies of both countries.