Azernews.Az

By Trend

On 21 August, in Tashkent, a meeting was held between Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov with Deputy Prime Minister of the Russian Federation Alexey Overchuk, Trend reports citing Uzdaily.

During the meeting, a wide range of issues of trade, economic, investment and transport and logistics cooperation were discussed.

Speaking about strengthening investment ties, the parties placed special emphasis on the development of interregional cooperation. It was announced that in preparation for the II Forum of Interregional Cooperation, 42 mutual visits of the leadership of the administrations of various regions of Uzbekistan and the Russian Federation will be organized in order to work out solid investment and trade agreements.

Following the results of the I Forum of Interregional Cooperation between the Republic of Uzbekistan and the Russian Federation, held in 2018, agreements worth US$2.7 billion were reached, of which the amount of agreements on the implementation of investment projects amounted to US$1.5 billion, and trade agreements – US$1.2 billion.

The parties noted the relevance of establishing cooperative ties between manufacturers of the two countries, in the context of which the preparation for the "Made in Uzbekistan" industry exhibition in Moscow, which will become the largest exposition of Uzbek-made products ever held in the Russian Federation, was reviewed.

The report of the responsible leaders on the current results of the activities of the joint Project Office was heard. An agreement was reached to intensify joint work on the implementation of agreed investment projects included in the Economic Cooperation Program, totaling US$5.8 billion.

The parties also considered the current status of the implementation of the agreements reached during the meeting of the Intergovernmental Commission on Economic Cooperation (IGC) held in October 2020 and discussed issues of preparation for the next meeting of the IGC.

As a result of the meeting, a "Road Map" was signed for the implementation of the Memorandum of Understanding in the development of logistics corridors. The document outlines the priority measures to create the necessary infrastructure and organize the appropriate logistics service.

The document defines the format of bilateral interaction to improve customs, sanitary and phytosanitary procedures, simplify the procedure for the movement of goods between the two countries, develop interaction between the state bodies of the two states in the field of digitalization, and also contains specific practical measures for the implementation of infrastructure projects, in particular, on creation of agrological and wholesale distribution centers. One of these measures is the organization of a regular block train "Agroexpress" according to the principle of "green corridor", which ensures the maximum delivery time for agricultural products from Uzbekistan to the Russian Federation, not exceeding five days.

Following the meeting, the parties outlined further steps for practical interaction within the discussed areas of cooperation and agreed to maintain close contacts at all levels in order to promptly resolve emerging issues.

--

Follow us on Twitter @AzerNewsAz