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AGREEMENT BETWEEN THE GOVERNMENT OF THE RUSSIAN FEDERATION AND GOVERNMENT OF THE REPUBLIC OF UZBEKISTAN

of December 10, 2014

About the main directions of development and deepening of economic cooperation for 2015 - 2019

The government of the Russian Federation and the Government of the Republic of Uzbekistan which further are referred to as with the Parties, being strategic partners, including in the economic sphere,

being guided by the Contract on strategic partnership between the Russian Federation and the Republic of Uzbekistan of June 16, 2004, the Agreement on the allied relations between the Russian Federation and the Republic of Uzbekistan of November 14, 2005, and also for the purpose of realization of provisions of the Declaration on deepening of strategic partnership between the Russian Federation and the Republic of Uzbekistan of June 4, 2012,

recognizing importance of further expansion and strengthening of full-scale mutually beneficial trade and economic, investment, transport and communication and financial cooperation between both states taking into account modern conditions and tendencies in world economy,

for the purpose of development and deepening of the bilateral economic relations on long-term basis, their conclusion to qualitatively new level,

aiming at achievement of strong growth of amounts of mutual trade, forming of favorable conditions for expansion of the directions of economic cooperation,

agreed as follows:

Article 1. Main objectives and tasks of the Agreement

Main objectives and tasks of the Agreement

This agreement is developed and is accepted for the purpose of:

ensuring stable development of economic cooperation, realization of the Parties of complex of agreed measures by the states on further development and deepening of the bilateral relations in the economic sphere on long-term basis;

determinations and promotions of the priority directions of trade and economic cooperation;

deepenings of economic interaction for the benefit of achievement of steadily high growth rates of national economies and increase in their competitiveness;

growth in volumes and enhancement of structure of goods turnover, assistance and stimulation of expansion of mutually advantageous partner bonds between the companies and the companies of the states of the Parties;

activation of interaction in the investment sphere, increases in investment appeal of both states;

supports of the joint projects directed to diversification of structure of national economies, first of all in the processing industries in innovative and high-technology spheres and in modern industries of service industry;

further development and strengthening of cooperation in the field of transport and transit of loads on mutually advantageous basis;

developments of mutually beneficial cooperation in the financial and bank sphere.

For goal achievement of the Agreement of the Party will solve the following problems:

provide full-scale implementation of the agreements in the economic sphere reached top-level;

develop and expand bilateral trade and economic relations on mutually advantageous and equal basis;

provide observance of the international treaties existing between the states of the Parties concerning cooperation between both states in different industries of economy;

expand and enhance regulatory framework of economic cooperation;

create favorable conditions for growth and enhancement of structure of goods turnover, growth in volumes and diversification of the directions of investment cooperation;

advance joint projects on creation of modern productions on the basis of implementation of the best practices and technologies, to improvement of quality and competitiveness of products;

develop long-term cooperation and experience exchange in agro-industrial complex, including in the field of deliveries of agricultural products;

promote establishment of long-term partner bonds between the companies and the companies of the states of the Parties, and also to creation and activities of joint businesses;

expand mutually beneficial cooperation in the transport and communication sphere, create favorable conditions for growth of cargo transportation, effective use of regional transport corridors and infrastructure;

develop interaction in financial and bank spheres.

Article 2. Cooperation in the trade sphere

Cooperation in the trade sphere

The parties will promote further development of bilateral trade relations, diversification of the nomenclature, providing strong growth of goods turnover and achievement of its balanced nature.

The parties will continue cooperation on forming of favorable conditions for expansion of commercial intercourses.

Taking into account the economic capacity of both states of the Party will take measures for identification of reserves for building-up of amounts of goods turnover and to enhancement of its structure, including due to the expansion of mutual deliveries of finished goods and goods with high value added which are of mutual interest and also deliveries of agricultural products.

The parties on regular basis will render assistance to Chambers of Commerce and Industry and other associations of the Russian and Uzbek entrepreneurs in establishing steady partnership and the conclusion of long-term foreign trade transactions between the companies and the companies of both states, the organizations of mutual visits of business community, holding joint exhibitions, business forums, round tables, the presentations, negotiations and meetings, and also other actions.

The parties will assist attraction and active participation of the companies and companies of both states, including small businesses, in the international exhibition and fair events held in the territories of the states of the Parties.

The parties will promote continuation of practice of exchange of information in the field of foreign economic activity, including spheres of trade, customs administration and the taxation.

Article 3. Cooperation in the investment sphere

Cooperation in the investment sphere

The parties will develop mutually beneficial cooperation in the investment sphere, to take measures for growth in volumes and diversification of mutual investments, first of all in non-oil industries.

The parties confirm the aspiration to create favorable conditions for implementation of investments of investors of the state of one Party in the territory of the state of other Party according to regulations of the Agreement between the Government of the Russian Federation and the Government of the Republic of Uzbekistan on encouragement and mutual protection of investments against April 15, 2013.

The parties will promote realization of joint projects in different industries, including:

oil and gas complex;

mechanical engineering;

instrument making;

electrotechnical industry;

telecommunications;

light, food industry;

production of construction materials;

other directions which are of mutual interest.

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