TASHKENT, Uzbekistan, October 17. Uzbekistan's Uzcharmsanoat Association held a meeting with the Foreign Economic Activities Directorate of Russia’s ALFA-BANK to discuss cooperation in the leather and footwear industry, Trend reports.
During the negotiations, detailed information was presented on the ongoing reforms in the leather and footwear sector, the favorable conditions created for investors, and the existing incentives and preferences.
Representatives of ALFA-BANK noted that the bank serves approximately 1.5 million clients, of whom around 5,000 are involved in leather, footwear, and fur production. They emphasized that demand for Uzbek products in the Russian market continues to grow.
The bank expressed its readiness to provide practical support in attracting investors, implementing joint projects, and assisting with customs clearance, certification, and logistics.
Following the meeting, the ALFA-BANK delegation announced its intention to participate in the UzCharmExpo EurAsia 2025 international exhibition, which will be held in Tashkent.
In the current geopolitical landscape, Russia remains Uzbekistan’s second-largest trading partner, accounting for a significant share of the country’s total foreign trade. From January through August 2025, bilateral trade between Uzbekistan and Russia reached $8.3 billion, reflecting a 6.4 percent increase compared to $7.8 billion in the same period in 2024.