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Trade between Russia and Uzbekistan expected to grow to $15 bln by 2026 — official

Ervin Turgunov reported that the portfolio of joint projects between Russia and Uzbekistan currently exceeds $55 billion

TASHKENT, December 10. /TASS/. Trade between Uzbekistan and Russia is planned to reach $15 billion in 2026, Ervin Turgunov, head of the Department for Attracting Investment from Russia and the CIS at the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan, said at a press conference.

Earlier, at a meeting of the Intergovernmental Commission on Economic Cooperation between the two countries, Deputy Prime Minister Jamshid Khodjayev announced the intention to increase trade turnover between the two countries to $12 billion by 2025. At the end of 2024, the trade turnover amounted to $11.6 billion.

"This year, if we reach $12 billion, then next year the goal was to reach $15 billion and ensure at least 20% growth," Turgunov said.

Turgunov reported that the portfolio of joint projects between Russia and Uzbekistan currently exceeds $55 billion. He also reiterated plans to increase trade turnover between the countries to $30 billion by 2030.

Earlier, the 26th meeting of the Intergovernmental Commission on Cooperation between Uzbekistan and Russia was held in Tashkent. Following the meeting, the parties signed a roadmap for strengthening interregional cooperation between Russia and Uzbekistan for 2025-2030, an action plan for trade and economic cooperation between Uzbekistan and Russia’s republic of Bashkortostan for 2025-2026, and a memorandum of understanding between Russia’s SME Corporation and the Uzbek Agency for the Development of Light Industry.

Tashkent also hosted an Uzbekistan-Russia business forum, where issues of expanding business contacts, implementing joint projects, and developing interregional cooperation were discussed.

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