Tashkent, Uzbekistan (UzDaily.com) —  On 3 September 2024, Uzbekistan and Russia held the second meeting of the working group focused on increasing bilateral trade between the two countries. The meeting took place online.

The session was co-chaired by Laziz Kudratov, Minister of Investment, Industry, and Trade of Uzbekistan, and Maksim Reshetnikov, Minister of Economic Development of the Russian Federation.

During the meeting, reports were heard from leaders of various sectors, including industry, energy, transportation, and agriculture. These reports covered the current status of project implementation and agreements aligned with the Joint Action Plan aimed at increasing mutual trade volumes for the years 2024-2030. The primary goal of this plan is to achieve a trade turnover of US$30 billion, as set by the leaders of the two countries.

Additionally, participants discussed progress on the opening of a branch of the Russian Foreign Trade Academy in Tashkent and the work of the Expert Center for Strategic Initiatives.

Following the talks, both sides expressed their readiness to deepen cooperation and continue joint efforts to enhance trade relations between Uzbekistan and Russia.

Currently, Russia is one of Uzbekistan’s largest trading partners. In the first seven months of 2024, trade turnover between the two countries increased by 29.1%, reaching US$6.8 billion. During this period, Uzbekistan’s exports to Russia grew across 175 product categories, and the export of 64 new product categories worth US$11.3 million was established.