Uzbekistan and Russia agree to increase their trade volume to $30 billion

The President of Uzbekistan, Shavkat Mirziyoyev, and the President of Russia, Vladimir Putin, continued their negotiations in an expanded format with official delegations, according to the President's press service.

The discussions focused on further developing and deepening the comprehensive strategic partnership and alliance between Uzbekistan and Russia, especially in the political, trade-economic, and cultural-humanitarian areas.

The high level and specific nature of the current bilateral relations, encompassing all aspects and directions of interstate cooperation, were acknowledged with satisfaction.

"Your state visit can rightfully be called historic. This visit marks the beginning of a new stage in our comprehensive strategic partnership and alliance," said Shavkat Mirziyoyev.

Putin emphasized the rapid development of close, friendly relations between Russia and Uzbekistan, based on equality, mutual respect, and consideration of each other's interests.

"As we agreed with Shavkat Miromonovich, our visit to Tashkent, Uzbekistan, soon after his re-election and formation of the government, underscores that Uzbekistan is our strategic partner and reliable ally. We are in constant communication, and I believe we will continue to personally oversee all current bilateral issues," said Putin.

The parties agreed to maintain active contacts at various levels, including parliaments, governments, ministries, agencies, regions, the public, experts, and business circles.

To facilitate this, the Joint Commission at the level of Prime Ministers and the Intergovernmental Commission will be fully utilized, with their next meetings scheduled by the end of the year.

The necessity of continuing regular political consultations and close cooperation within international and regional organizations such as the UN, CIS, SCO, and other multilateral platforms was emphasized.

The steady increase in mutual trade turnover, which has grown 2.5 times in the last seven years, was acknowledged. The parties set a new target of reaching a $30 billion trade volume in the near future.

To support this goal, a full-fledged trade representative office of Uzbekistan will be established in Russia.

New industrial cooperation projects valued at over $20 billion were prepared for the summit, spanning energy, metallurgy, petrochemicals, mechanical engineering, mining, agriculture, logistics, pharmaceuticals, artificial intelligence, and other areas.

A joint investment platform will be launched to promote these projects.

In the energy sector, agreements were reached on modernizing the gas transportation system, increasing the volume of gas, oil, and oil products supply, and implementing hydrocarbon processing projects.

Additionally, agreements will be signed for the construction of a low-power nuclear power plant in Uzbekistan during the visit.

The rapid development of regional cooperation was highlighted when the heads of all regions of Uzbekistan visited Russia last week. The first meeting of the Council of Regions of Uzbekistan and Russia will be held today under the chairmanship of the heads of state.

Key areas such as food security, innovation, digital technologies, artificial intelligence, and migration were also discussed.

Active exchanges in culture and art, science, health, tourism, youth, and sports will continue.

The parties welcomed the establishment of branches of Moscow Technical University named after Bauman and the All-Russian Academy of Foreign Trade in Uzbekistan.

Short reports from delegation members were heard, and specific proposals for practical cooperation in various fields were discussed.

At the conclusion of the negotiations, the heads of state ordered the adoption of "road maps" with implementation mechanisms for each direction.