Uzbekistan, Russia To Extend Deal For Boosting Gas Supplies

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, February 13. Uzbekistan and Russia are discussing the conclusion of a long-term contract with a gradual increase in gas supply volumes, Russian ambassador to Uzbekistan Oleg Malginov said, Trend reports.

He said that Russian gas supplies, which started within a two-year contract in October 2023, significantly contribute to the stabilization of Uzbekistan's economy.

"Russian gas has already been supplied, and this is a significant contribution to the stabilization of Uzbekistan's economy and social sphere. Last year it was a bit cold, but thanks to gas supplies this year, everything went smoothly," the dipomat noted.

According to him, relations between Uzbekistan and Russia in the economic sphere are not limited only to gas supplies.

"Our relations are so extensive that it is difficult to point out an area in which we do not cooperate. During the Uzbek president's visit to Russia in early October 2023, agreements were signed and instructions were allocated, including about 65 points, which the presidents instructed their governments to implement in the near future," Malginov emphasized.

He also noted that the Uzbek-Russian intergovernmental commission has identified more than 80 projects that are currently in the process of implementation.

"In general, we can say that our trade relations are developing despite the difficulties in the world. Russia has almost reached the trade turnover volume of $10 billion for 2023-to be precise, $9.8 billion-and this is not the limit yet. Russia is the country that most actively buys Uzbek goods," the ambassador added.

Meanwhile, the share of Russia's investments and loans in 2023 in Uzbekistan's economy fell to 13.4 percent of total foreign investments in the country a year earlier (20.3 percent).

The data from Uzbekistan's statistics agency shows that the volume of Russian investments in Uzbekistan amounted to 25.1 trillion soums ($2 billion) last year. This is the second-highest figure among investor countries.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.