Uzbek-Russian Business Council takes place in Tashkent

Tashkent, Uzbekistan (UzDaily.com) -- On 18 October 2018, on the eve of the state visit of the President of the Russian Federation Vladimir Putin to the Republic of Uzbekistan, a regular meeting of the Uzbek-Russian Business Council was held in Tashkent.

The event was organized by the Chambers of Commerce and Industry of two countries, Ministry of Economy of the Republic of Uzbekistan, the Ministry of Industry and Trade of the Russian Federation and the Ministry of Economic Development.

From the Russian side, the event was attended by representatives of 17 regions and 180 representatives of business circles of the Russian Federation, in particular, Moscow, St. Petersburg, the Republic of Tatarstan, Orenburg, Ivanovo, Rostov, Astrakhan, Sverdlovsk, Novosibirsk, Tyumen, Leningrad, Nizhny Novgorod, Penza and other areas.

The Uzbek side was represented by representatives of ministries and departments, as well as business circles of the republic, including the city of Tashkent, Tashkent, Samarkand, Andijan and Namangan regions.

The Uzbek-Russian Business Council was established in 2005 on the basis of the Chambers of Commerce and Industry of Uzbekistan and Russia in order to assist the business circles of two countries in establishing mutually beneficial partnerships, implementing joint investment projects, and finding solutions to issues arising in the way of cooperation between Uzbek and Russian enterprises.

During the event, the attention of representatives of the business circles of two countries was presented with information on the measures taken in Uzbekistan to simplify customs procedures between two countries, including the introduction of the “simplified customs corridor” mechanism for importing and exporting goods.

Along with this, presentations were made by the parties on trade-economic and investment potential of the regions of Uzbekistan and Russia, indicating the most promising areas of bilateral cooperation, possibility for Russian enterprises to implement investment projects to modernize the production and transport-communication infrastructure of Uzbekistan. The sides discussed development of financial cooperation, as well as non-financial institutions of Uzbekistan and Russia in order to expand lending, as to major investment projects, and small and medium-sized businesses.

As examples of bilateral projects, a presentation of the activities of Uzelektroapparat-Elektroschit JSC and innovative project of Recon in industrial and construction complex of Uzbekistan was held.

It should be noted that today, 1,092 enterprises with participation of Russian investments are operating in Uzbekistan, including 941 joint ventures and 151 enterprises with 100% Russian capital. Representative offices of 70 Russian firms and companies are accredited. In Russia, 255 enterprises have been established with the participation of residents of the Republic of Uzbekistan.