A meeting between S. Umurzakov, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan and M. Reshetnikov, Minister of Economic Development of the Russian Federation was held on the sites of the Tashkent International Investment Forum.

Issues for promoting bilateral cooperation in the areas of trade, investment and industrial cooperation were discussed as well as the implementation of agreements reached during the last meeting of the Intergovernmental Commission on Economic Cooperation, held in December last year in Moscow.

Further steps were discussed to increase the Uzbek-Russian trade turnover. The parties agreed to analyze the foreign trade of the two countries in order to identify promising areas for increasing mutual supplies of Uzbek and Russian products. Further steps were also identified to eliminate existing trade barriers and create favorable conditions for enhancing mutual trade.

The viability for continuing joint work to bring the business communities of the two countries closer together in order to establish direct contacts and discuss opportunities for implementing joint projects and concluding profitable trade contracts was emphasized. In this context, an agreement was reached to intensify the activities of the Uzbek-Russian Business Council and create on its basis an information and analytical platform for communication between Uzbek and Russian entrepreneurs and trading operations.

Following the meeting, the parties expressed their readiness to provide further practical assistance to the promotion of joint projects and initiatives, as well as the development of new areas of mutually beneficial cooperation.