Uzbekistan and Russia discuss mechanisms to strengthen investment, trade and economic cooperation in the context of the coronavirus pandemic
07/04/2020 22:25
Uzbekistan and Russia discuss mechanisms to strengthen investment, trade and economic cooperation in the context of the coronavirus pandemic
07/04/2020 22:25
Tashkent, Uzbekistan (UzDaily.com) - On 6 April, a videoconference was held with the participation of Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and Minister of Industry and Trade of the Russian Federation Denis Manturov.
During the dialogue, the current state of bilateral investment and trade-economic cooperation and joint measures to enhance the interaction of the economies of the two countries in the context of global crisis caused by the coronavirus pandemic were discussed.
It was noted that in the new realities it is extremely important to combine efforts to formulate new areas of cooperation, adapting the format and specifics of investment and trade partnerships based on the current challenges facing the economies of both countries.
During the videoconference, a package of promising proposals for mutually beneficial investment cooperation was discussed, including the creation of joint high-tech agro-industrial clusters, as well as joint ventures for the management of wholesale and distribution centers for the consolidation, storage, processing and distribution of fresh fruits and vegetables and other products supplied from Uzbekistan to Russia. The high potential of investment cooperation in the industrial sector was also noted: the textile industry, alternative energy, mining, the oil and gas sector and engineering.
The commitment of the governments of both countries to make efforts to maintain sustainable mutual trade was emphasized, bearing in mind the adoption of operational measures to ensure unimpeded freight traffic through the territories of both countries. Moreover, the mechanisms of combining the methods of tariff and non-tariff regulation of the two countries were considered, which will increase the volume of trade between Uzbekistan and Russia in the current economic situation.
Based on the results of the negotiations, the parties agreed to create a permanent mechanism of interaction to work out new areas of cooperation - joint initiatives of industrial cooperation and trade agreements - through close communication between the leadership of the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan and the Ministry of Industry and Trade of the Russian Federation.
The task was set to form a new program of economic cooperation within a month, providing for the implementation of specific, mutually beneficial projects.
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