Tatarstan-Uzbekistan Trade Could Reach US$500 Million

Tashkent, Uzbekistan (UzDaily.uz) — Trade turnover between Tatarstan and Uzbekistan could exceed US$500 million by the end of the year, representing an increase of approximately 13.5 percent compared with last year, Deputy Prime Minister and Minister of Industry and Trade of Tatarstan Oleg Korobchenko said at the Tatarstan-Uzbekistan business forum in Kazan.

The event brought together about 200 enterprises from both regions. Before the start of the event, Korobchenko inspected an exhibition of Uzbek products.

According to Korobchenko, virtually all major enterprises in Tatarstan interact with the Uzbek market by supplying products or purchasing raw materials and goods. He specifically highlighted cooperation in the light industry sector, noting that Tatarstan companies processing synthetic fiber from oil regularly purchase cotton and wool raw materials from Uzbekistan.

Tatarstan became one of the first Russian regions to invest in the Uzbek economy, constructing four industrial parks in Chirchiq, Navoi, Jizzakh, and Bukhara. According to Korobchenko, the industrial park in Chirchiq, established in 2021, is fully occupied, while the other sites are also operational. He noted low rental costs in these zones—ranging from US$1.5 to US$2 per square meter—and the absence of taxes and additional payments for residents.

Head of the Tatarstan Investment Development Agency Taliya Minullina cited data showing Russian investments in the Uzbek economy total nearly US$5 billion, noting that the reverse flow of investments from Uzbekistan into Tatarstan remains noticeably smaller. She listed historical and cultural ties, Uzbekistan's investment openness, and the active involvement of entrepreneurs attending the forum in mid-summer as key factors bringing the business communities of both sides closer.

Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan Odilkhon Rustamov reported that mutual trade between Uzbekistan and Russia reached around US$13 billion, while the number of enterprises with Russian capital in Uzbekistan continues to grow.

He identified the textile and leather industries, food and chemical production, furniture and construction sectors, and the agro-industrial sector as the most promising areas for cooperation.

Chairman of the Chamber of Commerce and Industry of Tatarstan Shamil Ageev drew the attention of Uzbek participants to the challenges currently facing small and medium-sized businesses in Russia, including tax issues. However, he stated that Tatarstan's market remains open to new partners despite overall external economic pressure.

Uzbek manufacturers also presented their products at the forum, including a Tashkent weaving factory producing knitwear, towels, and bed linen made from 100 percent cotton.

According to factory representative Maksud Shakirov, the enterprise produces 6.5 metric tons of fabric per day and already supplies garment factories in Moscow and Kostroma that specialize in children's clothing.

The Uzbek delegation at the forum was led by Odilkhon Rustamov and included more than 100 entrepreneurs.