Putin Talks Up Importance Of Russia-Tajikistan Bilateral Trade
Russia-Tajik Trade Up 70% In Q1 2022 as Moscow looks East
Russian President Vladimir Putin has met with the Tajik President Emomali Rahmon, stating that “It is important to continue bolstering trade and commercial connections between the two countries. According to the Russian leader, Tajikistan’s key trading and economic partner is Russia. Putin highlighted the fact that the trade between both nations have rapidly expanded last year, by about 45%, and it has grown by over 70% in the first quarter of 2022.
The Russian President went on to add, “This is a good trend that must be maintained. There are reasons associated with the current situation, but our relations are needed and are developing very actively.” Putin also advocated discussing about security in Central Asia, where the Afghanistan situation remains fragile. Tajikistan has a border with Afghanistan.
Bilateral trade between Russia and Tajikistan in 2021 reached US$1.13 billion, an increase of 25% over the previous year’s figures. With increases of 70% plus in Q1 2022, if maintained over the year this could result in bilateral trade reaching close to US$2 billion. A boost will certainly come from both Russia’s desire to concentrate on new import-export markets in the wake of its EU sanctions problems, in addition to the powerful Russian E-Commerce platform, Wildberries also looking at setting up operations in Dushanbe. Wildberries recently established a presence in nearby Kyrgyzstan as Russian retailers look towards Central Asia.
The main products that Russia exports to Tajikistan are Refined Petroleum, Seed Oils, and Raw Iron Bars. The main products that Tajikistan exports to Russia are Non-Retail Pure Cotton Yarn, Raw Cotton, and Dried Fruits.
Both Russia and Tajikistan are members of the Commonwealth of Independent States, (CIS) which also includes Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Ukraine, and Uzbekistan. The CIS is not a Free Trade bloc, but does allow a mechanism for individual members to agree bilateral trade agreements with other member states.
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