Uzbekistan-Russia trade turnover grows by 50% this year

The Uzbekistan-Russia trade turnover in Jan-Feb 2018 grew by 50.2% and totaled almost $600 mn, it was announced at a news conference on inauguration of the Expo-Russia Uzbekistan 2018 international exhibition.

According to the deputy trade representative of Russia to Uzbekistan Leonid Pokrovsky, Uzbekistan is fourth among the CIS countries in terms of trade turnover with Russia. The total amount of Russian investments in this country is above $8.5 bn.

According to him, the drivers of the sudden increase include liberalization of tax, customs, and currency legislation, as well as optimization of the trade and economic cooperation at the regional level, Pokrovsky said.

The first EXPO-Russia Uzbekistan 2018 exhibition is taking place in Tashkent this week. 200 companies from Russia, Uzbekistan, and other countries of the region will be represented on it. The event is to show progress in energy, machine-building, metallurgy, construction, transports, telecoms, chemical industry, agriculture, consumer goods and other industries.