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Uzbekistan and Russia intend to “quickly and effectively” rebuild trade and economic relations to minimize the impact of Western sanctions, a Podrobno.uz correspondent reports citing Russian Minister of Economic Development Maxim Reshetnikov.

The day before, a meeting of the Russian-Uzbek Business Council was held in Moscow.

“Uzbekistan for Russia is more than a reliable economic partner. We are united by long-established friendly ties and mutual respect – this has always strengthened our cooperation,” Reshetnikov stressed.

In his speech, he noted that in 2021, despite the pandemic, trade between Russia and Uzbekistan reached a historical record. Trade turnover increased by 17% to $7 billion. Active development of investment cooperation was also noted. In 2021, investments in projects with Russian participation in Uzbekistan exceeded $10 billion.