Trade turnover between Uzbekistan and Russia increased 48% in 2007 to USD 4.2 billion, Ambassador of Russia Farit Muhametshin told journalists in Tashkent.

Speaking at a round table “Uzbekistan-Russia. Horizons of cooperation” in the Uzbek capital, the diplomat said the year 2007 was very successful in terms of expansion and strengthening of the bilateral cooperation.

First Russian National Exhibition was held in Tashkent last year, attracting more than 200 companies from various regions of Russia. At the Uzbek-Russian business forum, Russian entrepreneurs familiarized themselves with the economic potential and the investment climate in Uzbekistan.

The number of joint ventures created in Uzbekistan with Russian investments is more than 500. Companies with Uzbek investments in Russia account for almost 300.

The main areas of cooperation are trade, energy, oil and gas, foods, financial sector, metallurgy, pharmaceutics, wood processing and other industries.

Cooperation in the cultural, educational and humanitarian spheres between the two states has also been fruitful, it was said.

Source of information: http://www.uza.uz