Uzbekistan, Russia ink deals worth $3.5 billion

By Azernews

By Kamila Aliyeva

Authorized representatives of Uzbekistan and Russia have signed 16 bilateral agreements, contracts and other documents worth more than $3.5 billion in trade, economic and investment spheres.

As part of preparation for the state visit of Uzbekistan’s President Shavkat Mirziyoyev to Russia scheduled for April 4-5, the Uzbek embassy in Moscow hosted a ceremony of signing the Uzbek-Russian documents on April 3, the Uzbek Foreign Ministry reported.

The ceremony was attended by a delegation led by First Deputy Prime Minister Achilbay Ramatov. The Russian side was represented by a delegation led by Economic Development Minister Maksim Oreshkin.

The sides also signed a contract on supply of fresh and processed fruit and vegetable products worth $612 million to Russia, a memorandum on the supply of Russian oil to Uzbekistan and an agreement on cooperation in the supply of excavator equipment.

More documents are expected to be signed in Kremlin following the Uzbek-Russian high-level negotiations.

The Russian Federation is one of the largest trade partners of Uzbekistan while Uzbekistan occupies the fourth place among the CIS countries on volumes of trade turnover for Russia.

In 2016 the trade turnover between the two states, according to the Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan amounted to $4.2 billion.

The commodity structure of Russian exports to Uzbekistan includes mineral products, machines, equipment and vehicles, metals and products from them, timber and pulp and paper products, chemical products, foodstuffs and agricultural raw materials.

The commodity structure of imports of basic supplies includes such groups of goods as textiles and glassware, shoes, machinery and equipment and vehicles, foodstuffs and agricultural raw materials, chemical products, metals, and products from them.

As many as 961 enterprises with the participation of Russian investments, including 810 joint ventures and 151 enterprises with one hundred percent Russian capital were established in Uzbekistan. The country has accredited representatives of 64 Russian enterprises and companies.

Some 569 enterprises with the participation of residents of Uzbekistan were established on the territory of the Russian Federation.