TASHKENT, Uzbekistan, May 1. In the first quarter of 2025, trade turnover between Uzbekistan and Russia reached $2.6 billion, with Uzbek exports to Russia increasing by 18.2 percent, Trend reports, citing Uzbekistan's Ministry of Investment, Industry and Trade.
This was announced during a meeting between Uzbek Minister of Investment, Industry and Trade Laziz Kudratov and Russian Deputy Minister of Economic Development Dmitry Volvach.
The discussion centered around the implementation of the Uzbekistan–Russia Joint Action Plan for 2024–2030, a strategic roadmap aimed at significantly increasing bilateral trade. This initiative aligns with the mutual goal set by the heads of both states to raise trade turnover to $30 billion.
Currently, over 3,000 joint ventures and wholly Russian-owned enterprises operate in Uzbekistan, reflecting the depth and breadth of economic cooperation between the two countries.
A key highlight of the meeting was the successful launch of the Expert Center for Strategic Initiatives at the Tashkent State University of Economics. The center is expected to enhance bilateral cooperation by providing expert analysis on market trends and identifying high-potential business opportunities.
Following the meeting, the sides reaffirmed their strong commitment to deepening economic ties and continuing coordinated efforts in all areas of trade and investment.
Meanwhile, total trade turnover between Uzbekistan and Russia reached $11.7 billion in 2024, reflecting a 5.2 percent year-on-year increase from the previous year.
