Uzbek-Russian intergovernmental commission for economic cooperation holds session in Tashkent

November 28, 2007

Tenth session of the Uzbek-Russian intergovernmental commission for economic cooperation was held in Tashkent on 28th of November, 2007.

Heads of ministries and departments, companies and concerns responsible for foreign economic relations, energy, oil and gas, commerce and industry sectors, defense, banking and finance, chemical industry, agriculture, customs, pharmaceutics, furniture and tourism participated in the session.

Prime minister of Uzbekistan, commission co-chairman Shavkat Mirziyoyev and first vice chairman of the government of Russian Sergey Ivanov spoke at the sitting.

Uzbekistan and Russia cooperate in trade, energy, mining, metallurgy, insurance, finance, food, pharmaceutical and wood processing sectors. Relations in machinery and aircraft building are expanding. Cooperation in telecommunications and software, production of chemicals and construction materials, textile and tourism has a high potential.

Trade turnover between the two states exceeded USD 3 billion in 2006. In the three quarters of 2007, the figure made up USD 2.95 billion. Russia accounts for more than 30% of the total foreign trade of Uzbekistan today. Uzbekistan exports food items, equipment, cotton fiber, black and ferrous metals, plastic and other products to Russia.

More than 500 joint ventures created in partnership with Russian investors operate in Uzbekistan, and 284 joint enterprises set up with Uzbek capital function in Russia. 145 Russian companies have offices in Uzbekistan.

At the sitting of the commission, the sides discussed perspectives of trade and economic relations, namely in the fuel and energy and aviation sector. A particular attention was paid to increasing the volume of turnover, the number of joint ventures and the types of manufactured products.

The economic forum “Uzbekistan-Russia: strategic cooperation” was organized on the same day. The Russian businessmen familiarized themselves with the pace of privatization in Uzbekistan, reforms in economy and development of small business and private entrepreneurship.

A number of bilateral documents were signed at the economic forum.