Denis Manturov and Jamshid Khodjayev co-chaired the 25th meeting of the Intergovernmental Russia-Uzbekistan Commission
First Deputy Prime Minister of Russia Denis Manturov and Deputy Prime Minister of Uzbekistan Jamshid Khodjayev co-chaired the 25th meeting of the Intergovernmental Russia-Uzbekistan Commission on Economic Cooperation in Moscow. The participants discussed a broad range of issues of economic, trade, industrial, energy, transport and agricultural cooperation.
Denis Manturov spoke about positive dynamics in bilateral trade and economic relations. “Our bilateral trade increased by 10 percent from January to October 2024, its stable growth propelled by the increased use of national currencies in mutual settlements, which currently accounts for over 70 percent,” the Russian official said.
Russia is a key investor in the Uzbek economy. Russian investments in the republic increased by 17 percent over the first nine months of the year. There are over 3,000 companies with Russian capital in Uzbekistan, or 25 percent of the total number of companies with foreign capital.
“In other words, we have created fundamental conditions for moving towards the ambitious goal of increasing our trade several-fold. The heads of our states have set the goal of increasing our trade to $30 billion. A number of documents signed towards this end comprise the systemic basis for promoting partnership in all the key areas,” Denis Manturov pointed out.
The participants placed great emphasis on expanding cooperation in the manufacturing sector. Russian enterprises are successfully implementing joint projects with Uzbekistan and using innovative technology to expand export opportunities. The First Deputy Prime Minister emphasised the importance of multiplying such initiatives considering the growing interest in expanding partnerships. This can be seen from greater participation numbers in the Innoprom: Central Asia annual exhibition.
During President Vladimir Putin’s visit to Uzbekistan in May 2024, the sides agreed to build a small-capacity nuclear power plant in Uzbekistan. According to Denis Manturov, project documentation is in the pipeline and the future plant’s site preparation s underway. Agreements on the long-term supply of natural gas to Uzbekistan are being acted upon as planned. Moreover, Russian specialists are involved in developing Uzbekistan’s gas fields, and a joint drilling management centre opened in May.
Jamshid Khodjaev expressed commitment to continuing mutually beneficial cooperation seeking to expand trade between Russia and Uzbekistan. “Today’s meeting gives us a one-of-a-kind opportunity to exchange views and to develop a joint approach to addressing challenges facing our respective countries, as well as to strengthen bilateral ties and to deepen cooperation in key areas, such as the economy, transport, agriculture, education, and social welfare,” the Deputy Prime Minister of the Republic of Uzbekistan said.
The participants discussed transport partnership, particularly in developing promising international transport corridors. According to the First Deputy Prime Minister, joint work is underway to prepare a feasibility study for building the Trans-Afghan Railway.
Agriculture featured prominently on the agenda as well. “Uzbek agricultural produce traditionally enjoys high demand among Russian consumers. In turn, we are prepared to supply more oil and fat products, grain, meat, and confectionery to Uzbekistan. Interaction in veterinary and phytosanitary control and timely certification of exporters play an important role in boosting food trade. We are prepared to increase veterinary medicine exports, among other things, to help prevent livestock diseases,” Denis Manturov said.
The participants reviewed other areas, such as successful cooperation in e-commerce and advancing sociocultural and humanitarian dialogue, as well.
Denis Manturov and Jamshid Khodjaev closed the meeting by signing the minutes of the 25th session of the Russian-Uzbek Commission on Economic Cooperation and approved a roadmap to boost trade between the two countries. Also, a 2025–2030 Russian Far East — the Republic of Uzbekistan cooperation plan was signed in the presence of the IGC co-chairs.
