Tashkent, Uzbekistan (UzDaily.com) — Minister of Investments, Industry, and Trade of Uzbekistan Laziz Kudratov held talks with Russia’s Minister of Economic Development, Maksim Reshetnikov. The meeting took place as part of the Russian delegation’s visit to Uzbekistan.

The negotiations were held at the Tashkent State University of Economics, where both parties discussed opportunities to accelerate the development of bilateral trade and economic relations, as well as to expand the scope of investment and interregional cooperation.

It was noted that in the first half of 2024, trade turnover between Uzbekistan and Russia increased by 29% compared to the same period last year, with exports playing a major role in this growth. Over 3,000 enterprises with Russian capital currently operate in Uzbekistan. Additionally, there was a 35% increase in freight transportation by road and rail in 2023, and air transport is also showing positive dynamics.

The sides reviewed the implementation of existing agreements, including the realization of investment deals and projects that were established during high-level visits.

Special attention was given to the organizational measures for establishing a branch of the Russian Foreign Trade Academy in Tashkent and launching the Expert Center for Strategic Initiatives.

Concluding the meeting, Laziz Kudratov and Maksim Reshetnikov, accompanied by Tashkent State University of Economics’ Rector Tulkin Teshabayev, toured the university facilities to assess conditions for the upcoming project.