Uzbekistan, Russia determine cooperation prospects

Photo: Uzbekistan, Russia determine cooperation prospects / Uzbekistan

Tashkent, Uzbekistan, Jan. 16
By Demir Azizov - Trend:

Uzbekistan and Russia approved a plan of action to implement the Uzbek- Russian intergovernmental economic cooperation programme for 2013-2017 during a meeting of the inter-governmental commission in Moscow on Wednesday, a representative of the Uzbek government told Trend on Thursday.

The document was signed by the co-chairmen of the commission from the Uzbek and Russian sides - Uzbek First Deputy Prime Minister and Finance Minister Rustam Azimov and Russian Deputy Prime Minister Dmitry Kozak.

During the meeting, the sides discussed the development of business and investment relations between the two countries, cooperation in oil and gas, inter-bank and customs areas.

Both sides stressed that the agreements reached during President Karimov's official visit to Russia in April 2013 laid a solid foundation for further expansion of mutually beneficial trade and economic cooperation between the two countries.

One of the main results of the joint work was the ratification of the agreement on the promotion and mutual protection of foreign investments between the Russian and Uzbek governments and Uzbekistan's decision to join the CIS free trade zone.

The Chambers of Commerce of Russia and Uzbekistan will continue interaction through business councils and exchange of information, as well as commercial and investment proposals on the establishment of prospective relations between production and trade enterprises in different spheres of industry.

It is also planned to continue cooperation on the mutual supply of products in demand produced by Uzbek and Russian enterprises. Russian is the largest trade partner of Uzbekistan with a 30 percent share in total foreign trade turnover.

Currently, around 885 Russian-Uzbek companies operate in Uzbekistan and representations of some 102 Russian enterprises have been accredited in this country.

Around 489 companies with Uzbek capital operate in Russia. Russian-Uzbek cooperation is actively developing in the sphere of fuel and energy. The largest Russian oil and gas companies successfully and effectively operate in Uzbekistan.

Nearly 200 interstate, intergovernmental and interagency documents, including the Strategic Partnership Agreement (June 16, 2004) and Agreement on Allied Relationships (November 14, 2005) are the legal base for bilateral cooperation.

Translated by N.H., L.Z.

Edited by S.M.

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