Tashkent, Uzbekistan (UzDaily.com) -- On 19 August 2020, a meeting was held between Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and Minister of Economic Development of the Russian Federation Maxim Reshetnikov in Moscow.

Within the framework of the agenda, the current state of implementation of the existing agreements was analyzed, mechanisms for its acceleration, as well as new areas of further interaction were considered. Taking into account the high degree of interconnection of the economies of the two countries, the parties emphasized the advisability of developing a constructive dialogue, both to fulfill the tasks set and to increase the scale of cooperation.

The importance of holding the meeting of the Intergovernmental Commission on Economic Cooperation between the Republic of Uzbekistan and the Russian Federation, scheduled for September this year, was noted. In this vein, it was agreed to organize, via videoconferencing, meetings of subcommissions in certain areas of bilateral cooperation to work out existing issues and complete the preparation of relevant agreements in the field of investment, industry, agriculture, trade, transport, financial and interregional cooperation, science, education and culture.

The commitment of the governments of the two countries to maintaining a steady growth in the volume of mutual trade was emphasized, in connection with which the parties agreed to continue the development and implementation of practical measures aimed at ensuring unimpeded cargo transportation through the territories of the two states, as well as promising mechanisms for the conjugation of tariff and non-tariff regulation methods, which will increase and diversify trade.

The support provided by the Russian side in the process of Uzbekistan’s accession to the WTO was highly appreciated, in particular, constructive interaction during the 4th meeting of the Working Group on Uzbekistan’s accession to the WTO, held in July 2020, as well as technical assistance within the framework of the project “Trade Facilitation in the Republic of Uzbekistan”.

Following the meeting, key guidelines for further interaction were identified and priority tasks were identified to expand multifaceted economic cooperation.