Russia, Uzbekistan Trade Set To Grow At 20% In 2023

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Russian Deputy Prime Minister Denis Manturov has said that trade turnover between Russia and Uzbekistan may reach US$12 billion this year compared to around US$10 billion in 2022. “As regards this year, we are already seeing incremental growth. I believe we will approach US$12 billion unless some cataclysmic events occur,” he was cited as saying.

Manturov also underscored the need to strengthen industrial cooperation and develop joint production facilities.

“Definitely,” he said in reply to a question on whether Tashkent and Moscow plan to establish new JVs. “This is what constitutes the fundamental contribution to [our] trade and economic relations,” he was quoted as saying, adding: “Close collaborative ties always translate into stability and guarantee a mutual flow of deliveries of goods.”

The geopolitical situation has only strengthened cooperation with Russia, Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan, was reported as saying. “If you ask whether the geopolitical situation has had an impact on our joint projects, I would say, yes, in the sense of spurring greater interaction,” he noted. “This situation provides a greater impetus for the fostering of joint engineering self-sufficiency,” Manturov added.

Russian President Vladimir Putin noted the substantial growth in annual bilateral trade in a message of greetings to participants and guests at the recent Innoprom Central Asia International Industrial Fair. The main focus was dedicated to innovations in areas such as mechanical engineering, metallurgy, power generation and information technology, with Putin’s address to participants  stating that “Central Asia has rich natural resources and an immense human potential. Regional economic cooperation processes are demonstrating very high dynamics. Indicative in this regard is the speed at which interaction between the host countries, Russia and Uzbekistan, is developing: their bilateral trade grew by more than a quarter last year.”

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