At the Innoprom Central Asia exhibition in Tashkent, Russia’s Deputy Prime Minister, minister for industry and trade Denis Manturov emphasized the growing economic ties between Russia and Central Asia.
He revealed that over 24,000 companies with Russian capital operate in the region, with combined investments exceeding $38 billion.
According to the government representative, Russia retains the position of the main trading partner of the Central Asian countries in the production of basic sectors of the economy, including food products, mineral and raw materials, a wide range of products of the metallurgical and chemical industries.
He highlighted a 12% increase in imports from Central Asia to Russia in 2023, attributing it to rising Russian demand and strong industrial output.
Manturov pointed to sanctions and the exit of Western companies as creating new opportunities for closer economic partnerships with Central Asia.
According to the minister, Russia sees prospects in organizing joint ventures with Central Asian countries to produce components for mechanical engineering, as well as equipment and systems for digitalization and automation of production processes.
As for the organization of industrial parks, he drew attention to the prospects of their location next to the railway infrastructure of the International North-South Transport Corridor.
“In the last year alone, the frequency of container trains in the eastern part of the Caspian Sea has doubled. And these are direct transit benefits for all neighboring countries,” Manturov said. ///nCa, 25 April 2024