Baku, Azerbaijan, Oct. 4
By Ali Mustafayev – Trend:
The Russian Export Center will open lines of credit for about $300 million for four Uzbek banks, Podrobno.uz news agency reported quoting the center’s Director General Petr Fradkov.
“We held fruitful negotiations with a number of Uzbek banks, such as the National Bank of Uzbekistan, Asaka Bank, Uzbek Industrial and Construction Bank and Orient Finans Bank,” Fradkov said. “It was agreed that within a month, the Russian Export Center will open lines of credit for these banks to finance projects of Uzbek-Russian cooperation.”
Uzbekistan from the point of view of exports is becoming an increasingly important partner for Russia, Fradkov noted.
“In general, Uzbekistan ranks 34th among Russia’s exporting countries,” he added. “This is while Uzbekistan ranks 20th in Russia’s non-commodity and non-energy exports. We see nearly a 20-percent growth in supplies for eight months of this year. Uzbekistan’s foreign trade turnover will only grow, so Russian companies cannot and shouldn’t stay away from this process.”