Baku, Azerbaijan, April 24
By Fikret Dolukhanov – Trend:
Trade turnover between Uzbekistan and Russia amounted to almost $600 million in the 1Q2018, which is 50.2 percent more than in the 1Q2017, Uzbek media reported citing Russia's deputy trade representative in Uzbekistan Leonid Pokrovsky adressing a press conference on the holding of the first international industrial exhibition Expo-Russia Uzbekistan 2018 in Tashkent.
He said that the trade and economic cooperation between the two countries intensified in all areas and mutual interest of enterprises in various sectors of the economy increased in the recent years.
“Uzbekistan ranks fourth in terms of commodity turnover with Russia among the CIS countries. In 2017, the trade turnover amounted to $3.6 billion, 33.9 percent more than a year before. In January-February 2018, trade turnover increased by 50.2 percent and amounted to almost $600 million. Russia's export grew by 59.7 percent, and import - by 28.1 percent. At the same time, the total volume of investments from Russia to Uzbekistan exceeded $8.5 billion,” Pokrovsky said.
He also added that a lion’s share of the Russian export to Uzbekistan falls to metals, timber, pulp and paper products, machinery, vehicles, mineral products and food products. In turn, Uzbekistan exports to Russia textile products, footwear, machinery and equipment, food products, metals.
Pokrovsky underlined the liberalization of tax, customs and currency legislation, as well as the optimization of trade and economic cooperation at the regional level as the positive factors that influenced such explosive development of trade.
“Russia and Uzbekistan are strategic partners in many areas, including foreign trade, investment and production. In this regard, it is very essential to hold such a major event as Expo-Russia Uzbekistan 2018, which will promote the development of new forms of interaction in energy, oil and gas, chemical industry, machinery, metallurgy and agriculture,” he stressed.
Tashkent will host an exhibition of Russian commodity producers Expo-Russia Uzbekistan 2018 for the first time on April 25-27. Round tables, negotiations between companies and enterprises, signing of agreements and contracts are planned to be held during the event.
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