Uzbekistan, Russia increase trade turnover by 21.2 pct
By Abdul Kerimkhanov
The trade turnover between Uzbekistan and Russia in 2018 increased by 21.2 percent compared with 2017 and made $5.73 billion, according to the State Statistics Committee's website.
Last year, exports from Uzbekistan to Russia increased by 6.8 percent and totaled $ 2.2 billion, while imports amounted to $ 3.5 billion (+ 30.6 percent).
According to the results of this period, Russia ranked second among the main partners of Uzbekistan, the share in the total foreign trade turnover is 16.9 percent.
China occupies first place with a share of 19 percent.
According to the statistical department, export of Uzbek textiles amounted to $ 639.6 million (+ 25 percent compared with 2017) thus, Russian market is the main export destination for Uzbek textiles.
In addition, Uzbek exports of fruits and vegetables to Russia increased significantly by 1.45 times and amounted to $ 164.8 million.
The republic also increased exports of natural gas to Russia - up to $ 583.5 million (+ 27.3 percent) and food products - up to $ 186.5 million (+ 29 percent).
As the committee noted, the growth of Russian imports to Uzbekistan was due to an increase in the supply of machinery and equipment - up to $937 million (+1.7 times).
Uzbek exports of rolled metal - up to $775.2 million (+1.42 times) and chemical products - to $366.7 million (+1.3 times).
Diplomatic relations between Russia and Uzbekistan were established on March 20, 1992.
The Treaty on the Basics of Interstate Relations, Friendship and Cooperation of May 30, 1992, the Treaty on Strategic Partnership of June 16, 2004, and the Treaty of Allied Relations of November 14, 2005, are of fundamental importance.
The main document regulating trade and economic relations between Russia and Uzbekistan is the interstate Agreement on Trade Relations dated November 13, 1992.
The two countries cooperate within the UN, the CIS, the SCO, the OSCE, ESCAP and other international and regional structures.
The structure of Russia's exports to Uzbekistan includes metals and products, wood and pulp and paper products, machinery, equipment and vehicles, food products and agricultural raw materials, mineral products, chemical products.
The structure of imports of Russia from Uzbekistan includes textiles and footwear, chemical products, machinery, food products and agricultural raw materials, metals and products from them.
Uzbekistan is one of Russia's leading economic partners in the post-Soviet space.
These are the Economic Cooperation Program for 2019-2024, the Cultural and Humanitarian Cooperation Program for 2019-2021, the Road Map for the creation of the International Radio Astronomy Observatory Suffa, the Agreement on the establishment and operation of branches of leading universities in Russia in Uzbekistan, the Agreement about cooperation in the textile industry.
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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