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REC: Uzbekistan is strategic partner for Russia (Exclusive)

Business Materials 4 November 2019 16:48

BAKU, Azerbaijan, Nov. 4

By Fakhri Vakilov-Trend:

Russia pays great attention to relations with Uzbekistan, including in the trade sector, and Tashkent is a strategic partner for Moscow, which has been repeatedly noted at the highest level, a representative of the Russian Export Center (REC) told Trend in an interview.

“Trade between the two countries is developing. In 2018, the trade grew by 20 percent and reached over $4.3 billion. The bulk of Russian exports to Uzbekistan are non-raw non-energy exports where growth is observed,” said the representative.

The official added that in the first eight months of 2019, the amount of non-raw non-energy exports in Uzbekistan amounted to over $2.1 billion, which is 29 percent more than in the same period in 2018. Among the leaders of growth are mechanical engineering (export of products increased by 66 percent), metallurgy and precious metals (+38 percent) and the chemical industry (+31 percent).

The representative noted that the REC’s representative office was recently opened in Tashkent to help companies cope with administrative barriers, as well as to find new partners and markets.

Russian Export Center JSC is a state-owned non-resource export support institution that provides Russian exporters with a wide range of financial and non-financial support measures. The Russian export center is part of the VEB.RF group.

VEB.RF operates on the basis of the federal law “On the State Corporation for the Development of VEB. RF”. Its main task is to contribute to the long-term economic development of Russia. In partnership with commercial banks, VEB.RF is financing large-scale projects aimed at developing infrastructure, industry, the social sphere, strengthening technological capabilities and improving the quality of life of people.

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