Tashkent, Uzbekistan (UzDaily.com) -- Thanks to the cooperation between the Uzeltekhsanoat Association and Asia-Invest Bank (JSC), Russian entrepreneurs importing household appliances and electrical equipment to the Russian Federation have gained access to a wide range of funding sources. In particular, the parties agreed to open a credit line for sellers and distributors of household appliances under the Uzbek brands Artel, Royal and Shivaki.

Asia-Invest Bank is a subsidiary bank of National Bank for Foreign Economic Affairs of the Republic of Uzbekistan in the Russian Federation, which actively finances Russian enterprises importing products from Uzbekistan to federal and regional trade networks of Russia.

In addition to traditional industries, the products of the Uzeltekhsanoat Association enter foreign markets, which have a high added value, uniting manufacturers of cable and wire products, electrical household appliances and electric power equipment.

In September of this year, the bank opened a credit line to the Russian distributor of Artel products, Artel-Rus LLC, which will allow the company to increase the supply of household products to USD 10 million by the end of 2020.

The increase in the volume of exports of products of household and other enterprises of Uzeltekhsanoat to the Russian market, using the financial instruments of Asia-Invest Bank (JSC), will become an important driver for the development of the industry with the prospect of a rapid growth in mutual trade and strengthening of international cooperation between the two states in one of the most technological and advanced directions of the economy of Uzbekistan.