Uzbekistan, Russia To Launch Joint Investment Platform

2024-05-27 08:10:04

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, May 27. Uzbekistan andRussia will launch a joint investment platform, Trend reports.

This was announced during a meeting between the President ofUzbekistan, Shavkat Mirziyoyev, and the President of Russia,Vladimir Putin, in an extended format with the participation ofofficial delegations of the two countries.

The platform will promote new industrial cooperation projects inenergy, metallurgy, petrochemicals, machine building, mining,agriculture, logistics, pharmaceuticals, artificial intelligence,and many other areas worth over $20 billion.

Meanwhile, according to the Uzbek president's office, thecountry expects to utilize $5 billion of Russian investments in2024.

At the same time, Uzbekistan's trade turnover volume with Russiaamounted to $3.8 billion from January through April 2024. Thisfigure has increased by 31 percent compared to the same period lastyear ($2.9 billion in January–April 2023).

Russia is Uzbekistan's second-largest foreign trade partner. Thecountry accounts for 18.4 percent of Uzbekistan's tradeturnover.

Furthermore, Uzbekistan and Russia agreed to increase tradeturnover volume to $30 billion in the near future.

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