Tashkent, Uzbekistan (UzDaily.com) - An Uzbek-Russian business forum in the format of “Road show” was held at the Embassy of Uzbekistan in Moscow with a presentation of domestic electrical products, Dunyo news agency reported.

The event, organized in conjunction with the Uzeltehsanoat Association of Electrotechnical Enterprises, was attended by representatives of more than 100 firms and companies from Uzbekistan and Russia.

Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the Russian Federation Botirjon Asadov, chairman of the board of the Uzeltehsanoat Association Mirziyod Yunusov and others briefed Russian entrepreneurs on the ongoing processes of large-scale reforms in the republic, priorities for further accelerated modernization and liberalization of the national economy, measures being taken to expand foreign economic relations with foreign countries.

Particular attention was paid to the favorable opportunities created in the country for doing business, investing and setting up production of competitive products with high added value on foreign markets.

Presentation of new investment projects proposed for implementation together with Russian partners was held.

A positive characteristic was given to the current state of the Uzbek-Russian strategic partnership. It was emphasized that thanks to the political will of the heads of the two states, in recent years the interaction of Tashkent and Moscow has been experiencing a dynamic upsurge, which is reflected in the rapid growth of mutual trade, an increase in the number of joint investment projects and enterprises, and the qualitative development of direct contacts between the regions and business entities of the two countries.

Representatives of the Russian business community received comprehensive information about the current development of the electrical industry in Uzbekistan, the results achieved in improving the efficiency of enterprises in the industry, increasing production and exporting products with the development of new types of industries and reducing the cost of goods.

At the end of 2019, the companies belonging to the Uzeltehsanoat Association exported finished products worth over US$250 million to foreign markets, with the export volume to Russia amounting to about US$25 million. The “road show” was aimed at further increasing these indicators through the establishment and development of a direct dialogue between business entities of Uzbekistan and Russia.

Representatives of the companies Artel, Vitech, SAM-Ferre, Ideal and others made reports on their activities and specific investment proposals at the event. An exhibition of electrical products “Made in Uzbekistan” and meetings in the “B2B” format with the participation of representatives of companies and enterprises of the two countries were organized. Following the talks, agreements and contracts for the supply of Uzbek products to the Russian market were signed.

In an interview with Dunyo, Umid Islom, deputy chairman of the board of the Uzeltekhsanoat Association, stressed that the electrical products produced in Uzbekistan have optimal characteristics in terms of price-quality ratio. In this regard, the Association is conducting systematic work to promote electrical products in the CIS countries. The business forum, exhibition and meetings organized in the B2B format organized at the Embassy of Uzbekistan in Moscow are designed to familiarize the Russian business community with the potential and capabilities of the republic in this direction.

Maxim Tarasevich, Export Director of ParusElectro, noted that in recent years, the business climate in Uzbekistan has undergone significant changes, due to which the flow of investment in the country has grown sharply.

“Now it has become much easier for us, Russian entrepreneurs, to find competent, business partners in the republic for arranging the production of electrical equipment,” the businessman said. - The industry of Uzbekistan is on the rise, and we see great prospects in the country. In this regard, the event held at the Embassy allowed us to establish useful contacts with potential partners.

The main factor in the successes recently shown by the Uzbek economy, the general director of Sigma Trade, Rustam Taziev, calls government support for the development of private business.

- Taking advantage of the opportunities created, Uzbek manufacturers are gradually, step by step, exploring new foreign markets, including Russia. At the same time, for a full-scale presence on the Russian market, it is necessary to create a positive image that will promote the promotion of products from Uzbekistan among buyers, R. Taziev said.