Русский
The Russian president, Vladimir Putin, has held discussions with Uzbekistan’s president, Shavkat Mirziyoyev. The leaders talked by phone and “discussed further development of the Russian-Uzbekistani relations as a strategic partnership and alliance across a wide band of areas. Special attention was given to implementing big joint projects, including in the energy sector,” according to a Kremlin statement.
They “noted the important role of inter-regional cooperation in strengthening the trade, economic, cultural, and humanitarian ties and the considerable practical outcome from the Russia-Uzbekistan Inter-Regional Council meeting in Moscow in October this year.”
Uzbekistan has been involved in several recent Central Asian strategic developments, including the signing of a Central Asian Food Security Plan through 2030, which is aimed at strengthening coordination of agricultural policies and advancing regional integration.
2025 bilateral trade between Uzbekistan and Russia reached US$8.3 billion in the 8-month period January-August, reflecting a 6.4% uptick relative to the US$7.8 billion recorded in the same timeframe during 2024. Russia is Uzbekistan’s second largest trade partner after China. The goal is to reach US$30 billion in trade turnover by 2030, in alignment with the economic priorities set by both presidents. Achieving that may be difficult, as it implies a 20% compounded trade growth rate per annum over the coming years.
A more realistic date may be 2035-40, when the China-Kyrgyzstan-Uzbekistan railway is set to be completed and will allow Uzbekistan to position itself as a transit route, adding value to products to and from China. Other investment projects, such as the yet-to-be-decided Trans-Afghan Railway, would also have an impact, as its completion would provide Gulf Port access to Uzbekistan via Pakistan and the INSTC. Other, perhaps more immediate, bilateral trade developments should occur as and when Uzbekistan becomes a member of the Eurasian Economic Union, which will reduce trade tariffs and unify customs procedures.
Uzbekistan and Russia have had a longstanding free trade agreement since 1993, which allows tariff-free trade on goods, reinforcing close economic ties. As mentioned, Uzbekistan is also in ongoing FTA negotiations with the Eurasian Economic Union. A sign that an agreement here might be close is that Uzbekistan recently took an equity share in the Eurasian Development Bank.
Russia and Uzbekistan have a significant trade relationship, with Russia exporting machinery and food to Uzbekistan, which in turn exports gold, cotton yarn, and fertilizers to Russia. The trade mix includes a substantial volume of raw materials and agricultural products. Russia’s Lukoil is also involved in developing Uzbekistan’s oil production sector and is now upgrading nuclear power facilities. Lukoil is also evaluating the commercial potential of oil and gas deposits in Uzbekistan.
Uzbekistan’s total trade turnover reached US$51.4 billion in January-August 2025, a nearly 20% increase from the previous year. Other significant trade partners include Kazakhstan, Turkiye, South Korea, and France.
Further Reading
