In the first half of 2020, trade between Russia and Uzbekistan increased by 18%, and Russia’s exports to Uzbekistan increased by 24.5%. This is reported by the press service of the Ministry of industry and trade of Russia.
“Despite the coronavirus pandemic in the first half of 2020, the dynamics of trade and economic cooperation has shown positive results. In the period from January to June 2020, the bilateral trade turnover increased by almost 18%, and Russia’s exports to Uzbekistan increased by 24.5%, ” the report says.
Also on August 19, Uzbekistan and Russia signed a Memorandum on trade and economic cooperation and industrial cooperation. This document provides assistance in organizing bilateral meetings, creating joint ventures, and creating favorable conditions for mutually beneficial investments in industry and trade. The priority areas of trade and economic cooperation between the two countries are agriculture, food industry and road construction equipment, pharmaceuticals, digital technologies and retail trade.