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Uzbek-Russian bilateral trade down 4.9% in 2016

Uzbekistan Materials 31 March 2017 21:13 (UTC +04:00)

Tashkent, Uzbekistan, Mar. 31

By Demir Azizov – Trend:

Bilateral trade turnover between Uzbekistan and Russia decreased by 4.9 percent to $4.237 billion in 2016, says a message posted on the website of Uzbekistan’s Chamber of Commerce and Industry.

According to the Chamber of Commerce and Industry, the volume of export from Uzbekistan increased by 1.2 percent to $1.842 billion and import from Russia decreased by 9.1 percent to $2.395 billion in 2016.

During the period, the volume of Russian investments in Uzbekistan amounted to $1.293 billion. A major part of investments ($1.205 billion) were spent for implementation of oil and gas projects.

Uzbekistan’s Chamber of Commerce and Industry issued this report following a recent Uzbek-Russian business forum.

The business forum was held with the aim of facilitating the establishment of trade relations between Uzbek and Russian companies, elaborating the issues of creating new joint enterprises and implementing new investment projects, according to the Chamber of Commerce and Industry.

During the forum, organizing online trade, ensuring the participation of businessmen in exhibitions and fairs of the two countries, and creating joint ventures for production of goods demanded on domestic and foreign markets were discussed.

Currently, 961 enterprises with Russian share operate in Uzbekistan. Offices of 64 Russian firms and companies have been accredited in Uzbekistan.

Russia has 569 enterprises with Uzbek share.

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