Uzbekistan, Russia's St. Petersburg Sign Key Agreements To Boost Trade And Investment

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, September 10 . The delegation of Uzbekistan's regions, led by Deputy Prime Minister Jamshid Khodjaev, and the delegation of St. Petersburg, headed by Governor Alexander Beglov, signed two documents: the Protocol on the Outcomes of the Negotiations and the Action Plan of Practical Measures, Trend reports.

These accords facilitate synergistic collaboration across sectors, including commerce, industrial advancement, transportation infrastructure, residential development, utility services, educational frameworks, scientific research, cultural exchange, tourism initiatives, and athletic programs. Focused emphasis was allocated to high-priority capital infusion initiatives across sectors, including construction, healthcare, pharmaceuticals, mechanical engineering, metallurgy, the agro-industrial complex, raw material processing, production of building materials, and the enhancement of tourism infrastructure.

The execution of the accords is anticipated to bolster economic interconnections, generate employment opportunities, and enhance export capabilities, thus facilitating the enduring socio-economic advancement of Uzbekistan's territories and St. Petersburg.

Concurrently, bilateral trade between Uzbekistan and Russia grew by 5.2 percent, exceeding the $10 billion mark by the end of the previous fiscal year. Significant increases were observed in trade dynamics, particularly reflecting a surge in Russian exports to Uzbekistan alongside a corresponding growth in Uzbek imports from Russia.

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