Tashkent, Uzbekistan (UzDaily.com) — Russia and Uzbekistan have outlined strategic priorities to significantly boost bilateral trade and expand joint industrial projects by the end of the decade.

Following a meeting of the joint working group on trade development, which included Russia’s Minister of Economic Development Maksim Reshetnikov and Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov, both sides announced ambitious export targets.

“We aim to increase Russian exports to Uzbekistan 2.7 times to reach US$17.9 billion, and Uzbek exports to Russia by 3.6 times to US$11.8 billion by 2030. To achieve this, we will accelerate joint projects and create the most business-friendly environment possible,” said Reshetnikov.

The working group reviewed ongoing initiatives across key sectors such as industrial cooperation, energy, transport, pharmaceuticals, and logistics. Particular emphasis was placed on deliveries of metro cars, freight electric locomotives, and specialized utility vehicles.

In the energy sector, cooperation continues on the modernization of Uzbekistan’s thermal and hydroelectric power plants. In 2023, the two countries began work on a small modular nuclear power plant. In 2024, based on agreements between the leaders of both countries, the project was restructured to include both a large-scale dual-unit facility and a small-scale dual-unit plant.

Both sides reaffirmed their commitment to strengthening industrial and technological collaboration to unlock new growth opportunities and enhance trade sustainability.

Transport and logistics also remain a priority. The two countries are working to establish wholesale and customs-logistics hubs across regions, while also developing e-commerce capabilities. A cornerstone of this cooperation is the development of efficient transport corridors.

One key initiative is the International North–South Transport Corridor, which handled more than 20 million tonnes of freight in 2024. Uzbekistan confirmed its interest in expanding this route, as outlined in the country’s Transport and Logistics System Development Concept through 2030.

During the talks, both parties agreed to intensify collaboration across all major areas to ensure steady growth in bilateral trade. They also discussed upcoming steps under a joint Roadmap covering sectors such as industry, transport, energy, and agriculture.

Special attention was given to education and digital cooperation. Discussions included the opening of a branch of the Russian Foreign Trade Academy in Uzbekistan and the potential integration of Russia’s “Production Cooperation and Sales” platform with Uzbekistan’s “Online-Bozor.uz” marketplace.

The next session of the Working Group on Trade Turnover between the two countries is scheduled for the second half of 2025.