Trade between Uzbekistan and the Russian Federation showed significant growth. bilateral trade in goods increased by 29.1%, reaching $6.8 billion in the first 7 months of 2024, the Ministry of Industry and Trade of the Republic reported.
The parties noted that they are set to increase bilateral trade to $30 billion.
On September 3, the working group held the second meeting on increasing bilateral trade online under the co-chairmanship of Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov and Minister of Economic Development of Russia Maxim Reshetnikov. The meeting focused on the strategic initiatives aimed at expanding bilateral trade.
Russia is a major trading partner of Uzbekistan. In the first 7 months of the year, the number of commodity items exported to the Russian Federation increased by 175. 64 commodity items worth $11.3 million were added to the export product range.
