Uzbekistan, Russia Strengthen Ties With Joint Investment Projects In Biotechnology

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, April 21. A significant meeting was held at the Ministry of Investment, Industry, and Trade of Uzbekistan with representatives from ALKOR BIO, a leading Russian biotechnology company, Trend reports, citing the Ministry of Investment, Industry, and Trade of Uzbekistan.

The meeting focused on the potential implementation of joint investment projects aimed at localizing the production of diagnostic reagents within Uzbekistan. This initiative aligns with Uzbekistan's broader strategic objective to strengthen its pharmaceutical sector and reduce reliance on imported medical products, particularly diagnostic reagents.

ALKOR BIO Group is a well-established manufacturer of reagent kits and laboratory diagnostic equipment, specializing in advanced technologies such as ELISA (enzyme-linked immunosorbent assay) and PCR (polymerase chain reaction).

Consequent to the negotiations, both sides have concurred to persist in their collaboration. They intend to exchange comprehensive technical and economic data to assess the viability of the proposed projects and develop the requisite documentation for execution.

This partnership is expected to significantly contribute to the development of Uzbekistan's pharmaceutical and biotechnology industries, advancing local production capabilities and further reducing reliance on imported diagnostic solutions.

Notably, trade between Uzbekistan and Russia has experienced a remarkable 20 percent increase, reaching $9.7 billion in the first ten months of 2024. Moreover, the variety of products exported by Uzbek manufacturers has significantly expanded, with 68 new product categories added to the export portfolio. This growth highlights the strengthening economic ties between the two nations and underscores Uzbekistan's growing role in international trade.

MENAFN21042025000187011040ID1109451928