Russian-Uzbek foreign trade
In recent years, Uzbekistan and Russia have worked closely together and have steadily developed bilateral relationships in almost all areas.
The following are the basic statutes that underlie and regulate the relationship between the two states:
- The Treaty on the Foundations of the Intergovernmental Relationships, Friendship, and Cooperation Between the Republic of Uzbekistan and the Russian Federation, dated May 30, 1992;
- The Treaty on the Strategic Partnership Between the Republic of Uzbekistan and the Russian Federation, dated June 16, 2004;
- The Treaty on the Allied Relationship Between the Republic of Uzbekistan and the Russian Federation, dated Nov. 14, 2005 and signed by the heads of both states;
- The Program of Economic Cooperation between the Government of the Republic of Uzbekistan and the Government of the Russian Federation for 2008-2012, dated Feb. 6, 2008.
In all, 236 international treaties have been signed since 1991 between Uzbekistan and Russia.
DEVELOPMENT OF TRADE RELATIONS
Trade relations with Russia are currently regulated by the Agreement on Trade Relations between the Republic of Uzbekistan and the Russian Federation, dated Nov. 13, 1992 and by the Protocol on Changes and Amendments to the Protocol for Exemptions from Free Trade that was made to that agreement and signed on Jan. 13, 1993.
In accordance with these documents, Uzbekistan and Russia can conduct business across the border under free-trade conditions.
Today the Russian Federation is the Republic’s largest trade and economic partner, accounting for over 30% of all of Uzbekistan’s foreign trade. There has been impressive growth in bilateral trade, which totaled $4 billion in 2009 - a new record for the two countries. The number of ongoing joint projects in the high-priority areas of economic cooperation has been growing rapidly.
BILATERAL INVESTMENT COOPERATION
One of the priorities of these bilateral economic relations is the increase in investment between the Republic of Uzbekistan and the Russian Federation
There were 843 businesses in the Republic of Uzbekistan that were using Russian capital as of the Jan.1st, 2010, and more than a third of these businesses (293 of them) were created in the past three years. Over $1 billion in Russian investment went into the creation of their charter capital.
Representatives of 135 Russian firms and companies are accredited in the Republic and in turn, Uzbek residents have helped to establish 385 businesses in the Russian Federation.
According to an analysis of Russian investment in the Republic of Uzbekistan for 2007-2009, most of this money went to the following sectors of the economy: the petroleum industry – 60.2%, information systems and telecommunications – 32.3%, light industry – 2.41%, services – 1.37%, construction and the manufacture of construction materials – 0.85%, fruits/vegetables and the food industry – 0.84%, machine-building and electrical technology – 0.58%, other – 1.44%
WEB PORTAL OF THE STATE AUTHORITIES OF THE REPUBLIC OF UZBEKISTAN
Useful information about the ministries and governmental departments of the Republic of Uzbekistan, the country’s existing legislation, and other helpful information can be found at the site of the Government Web Portal of the Republic of Uzbekistan