In Moscow, the future of economic cooperation between Uzbekistan and Russia was discussed.

A meeting of the Intergovernmental Russian-Uzbek Commission on Economic Cooperation was held in Moscow. It was conducted by the First Deputy Prime Minister of Russia, Denis Manturov, and the Deputy Prime Minister of Uzbekistan, Jamshid Khodjaev.

“The meeting provides us with a unique opportunity to exchange views and develop a joint approach to the challenges facing our countries. We aim to strengthen bilateral ties and deepen cooperation in key areas such as the economy, transport, agriculture, education, and the social welfare of our citizens,” emphasized Jamshid Khodjaev.

The co-chairs noted the positive dynamics in the development of trade and economic relations between the two countries.

“Bilateral trade turnover increased by 10% over the first nine months of 2024. An important factor in sustainable trade growth is the expanding use of national currencies in settlements. Today, this figure already exceeds 70%,” reported Denis Manturov.

Currently, Russia is one of the key investors in Uzbekistan's economy. In the first nine months of 2024, the volume of Russian investments grew by 17%. A quarter of foreign-owned companies in the republic — over three thousand enterprises — operate with Russian participation. This has created a solid foundation for a significant increase in trade turnover between the countries.

Previously, the presidents of Russia and Uzbekistan set a target of $30 billion. According to the Deputy Prime Minister of the Russian government, bilateral documents have been signed to achieve this goal, establishing a systematic basis for expanding partnership in key areas.

One of the most important topics of discussion within the intergovernmental commission was partnership in the transport sector. Firstly, work will continue on the localization project for Russian railway equipment production in the Republic of Uzbekistan. Secondly, cooperation will continue in updating Tashkent's urban transport. One example of such cooperation is the Russian company "Metrovagonmash," which has supplied equipment to the Tashkent Metro since its opening in 1977. Additionally, Denis Manturov spoke about the preparation of a feasibility study for the construction of the Trans-Afghan railway.

During the meeting, the development of cooperation in the industrial sector was also actively discussed. Projects that Russian enterprises are implementing together with Uzbekistan allow for the adoption of new technologies and the expansion of export opportunities. The need for further strengthening partnership in this area is clearly illustrated by the increase in the number of participants in the annual "Innoprom. Central Asia" exhibition, as well as interest in the international scientific and practical conference in the field of innovations in railway transport, organized by Tashkent State University of Transport in collaboration with the TMH Corporate University (Russia).

Special attention was given to the construction of a small-capacity nuclear power plant in Uzbekistan. Preparatory work at the site of the future NPP has already begun, with specialists developing project documentation.

Commission members noted that supplies of Russian natural gas to Uzbekistan continue as planned. Russian specialists are also actively involved in the development of gas fields in the republic. In May of this year, a joint drilling management center was opened.

At the conclusion of the meeting, Denis Manturov and Jamshid Khodjaev approved a “roadmap” for increasing trade turnover between Russia and Uzbekistan and signed a cooperation plan for the republic and the Far East for 2025–2030.

Long-term cooperation with Russia opens new prospects for Uzbekistan in developing its national economy. Attracting Russian investments and technologies will enable the modernization of key sectors, including energy, transport, and manufacturing, as well as enhance the competitiveness of Uzbek products in international markets. The development of bilateral trade, in turn, will help strengthen economic ties and create new jobs.