Russia provides grant for US$60 million to Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- On 14 April 2021, the Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov met with Deputy Prime Minister of the Russian Federation Alexey Overchuk in Tashkent.
During the meeting, a broad agenda of multifaceted cooperation was discussed, as well as the implementation of existing agreements in the investment, trade and economic, financial and technical, cultural and humanitarian spheres.
The parties highly appreciated the activity of bilateral contacts at the governmental level and stressed the mutual interest of the business circles of the two countries in the consistent strengthening of mutually beneficial cooperation in all priority areas.
It was noted that one of the striking examples of the growing interest of Russian business circles in the Uzbek market was the International Industrial Exhibition “INNOPROM. Big Industrial Week in Uzbekistan”. Over three days, the exhibition was attended by 10 thousand people from Russia, France, Germany, Czech Republic, Japan, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Armenia and other countries, and as a result, investment agreements and trade contracts were concluded between representatives of the business circles of the participating countries for a total amount of more than US$3 billion.
The issues of the activities of the "Project Office", created between the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan and the Ministry of Industry and Trade of the Russian Federation to further deepen industrial cooperation and expand investment cooperation, were discussed. Currently, 104 projects worth US$5.8 billion are at the stage of practical implementation.
During the dialogue, the parties also discussed the prospects for expanding partnership by covering new areas for establishing interaction between the relevant ministries and departments of the two countries.
The possibilities of organizing mutual internships for specialists of ministries, departments and organizations of Russia and Uzbekistan were also considered in order to exchange experience in priority areas, including in the areas of tax and customs administration, cadastre, as well as in issues related to the process of joining the World Trade Organization.
In conclusion, the parties expressed the hope that close interaction in the implementation of previously reached bilateral agreements will further strengthen the multifaceted partnership between Uzbekistan and Russia and outlined priority tasks for practical interaction within the designated areas.
Following the meeting, agreements were signed on the provision by the Russian Federation of gratuitous technical assistance to the Republic of Uzbekistan in the development of the tax administration system and the improvement of the system of state cadastral valuation. The total amount of grant funds raised under these agreements amounted to about US$60 million.