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Russian, Uzbek Presidents Sign $12 Billion In Investment Projects

Uzbek President Shavkat Mirziyaev (left) and Russian President Vladimir Putin on their way to a meeting at the Kremlin in Moscow on April 5.

Uzbek President Shavkat Mirziyaev has said Russia and Uzbekistan signed investments deals worth $12 billion during his two-day visit to Moscow.

"We are signing a package of agreements on the implementation of large investment projects worth $12 billion and trade contracts worth $3.8 billion," Mirziyaev said during his meeting with Russian President Vladimir Putin on April 5.

Putin said the two sides have agreed to expand industrial cooperation and to support projects by Russian and Uzbek companies in the automotive sector, civil aviation, and pharmaceuticals, among others.

In addition, "Russia is buying over 5 billion cubic meters of natural gas from Uzbekistan," Putin said, adding that "Gazprom and LUKoil are implementing large-scale hydrocarbon-production projects in the republic, and the Power Machines company is helping to modernize critical assets in Uzbekistan's electricity sector."

The visit -- which began on April 4 -- is Mirziyaev's first official trip to Russia since taking office in September, following the death of his predecessor, Islam Karimov.

Based on reporting by Interfax and TASS