As part of the visit of the government delegation of the Republic of Uzbekistan to the Chechen Republic, Minister of Investment, Industry and Trade Laziz Kudratov took part in the First Caucasus Investment Forum in Grozny city.

At the event, Mr. Kudratov emphasized the importance of developing interregional cooperation between Uzbekistan and Russia to achieve the goal set by the heads of the two states to bring trade turnover to $30 billion.

It should be noted that the Russian Federation is one of Uzbekistan’s essential trade and economic partners. Over the past seven years, Uzbekistan’s trade turnover with Russia has increased 2.5 times, reaching almost $10 billion by the end of 2023.

The main thing is that the structure of mutual supplies changes qualitatively due to products with high added value.

The priority areas for the development of partnerships include the creation of new joint industrial zones to deepen industrial cooperation, building up joint financing tools, developing tourism, and expanding cooperation in agriculture and the cultural and humanitarian sphere. The Council of Regions of Uzbekistan and Russia, chaired by the leaders of the two states, plays a major role in this work.

The critical importance of taking comprehensive measures to enhance this platform’s interregional interaction capabilities in the spirit of the Uzbekistan – Russia comprehensive strategic partnership and alliance was emphasized.

The minister called on representatives of Russian regions and Russian businesses to take advantage of the vast opportunities created in Uzbekistan to successfully implement new mutually beneficial projects and initiatives.

UzA