TASHKENT, June 4. /Dunyo IA/. On June 4–5, President of Uzbekistan Shavkat Mirziyoyev will pay a working visit to Russia and take part in the St. Petersburg International Economic Forum (SPIEF), reports Dunyo IA correspondent.

The St. Petersburg International Economic Forum (SPIEF) traditionally serves as one of the largest global platforms for discussing key issues of the world economy, investment cooperation, and the development of business ties.

The forum is expected to bring together representatives of government institutions, international organizations, business circles, and expert communities from various regions of the world. In the previous year, more than 24,000 participants from 144 countries attended the forum, and 1,116 agreements were signed worth over 6.5 trillion rubles (approximately USD 70 billion), underscoring the forum’s significant international role and its growing importance in shaping the global economic agenda.

Over the years, SPIEF has maintained its status as a reputable platform for developing approaches to international trade, investment partnerships, industrial cooperation, and transport and logistics connectivity. The forum’s contemporary agenda covers a wide range of areas, from digital transformation and high technologies to energy, infrastructure, and sustainable economic development.

The participation of the President of Uzbekistan in SPIEF 2026 is viewed as an important element in promoting the country’s foreign economic interests, attracting investment, and expanding international business contacts.

Within the framework of the visit, the President of Uzbekistan is expected to deliver a speech at the forum’s plenary session, as well as hold a series of bilateral meetings and negotiations on the sidelines of SPIEF 2026. The forum will contribute to advancing promising investment initiatives, expanding industrial cooperation and transport and logistics opportunities, and strengthening Uzbekistan’s position in the emerging economic space of Eurasia.

A special place in the agenda of the Uzbek delegation is given to the development of multifaceted relations with Russia, with which Uzbekistan maintains relations of strategic partnership and alliance. Diplomatic relations between the two countries were established on March 20, 1992. Over the following years, a solid legal framework of bilateral cooperation was formed, including the 2004 Treaty on Strategic Partnership, the 2005 Treaty on Allied Relations, and the 2022 Declaration on Comprehensive Strategic Partnership.

Regular high-level contacts demonstrate the strong political dialogue and the progressive development of bilateral relations. Cooperation between governments, parliaments, foreign ministries, regions, and business communities continues to strengthen.

Important mechanisms of practical cooperation include the Intergovernmental Commission on Economic Cooperation, the Joint Commission at the level of heads of government, and the Interregional Forum “Russia – Uzbekistan.” These platforms contribute to the expansion of trade and economic ties, the promotion of joint projects, and the strengthening of interregional cooperation.

Economic cooperation between Uzbekistan and Russia has demonstrated steady positive dynamics in recent years and remains one of the key areas of bilateral interaction. A free trade regime between the two countries facilitates the consistent expansion of mutual trade, investment cooperation, and industrial collaboration.

In 2025, bilateral trade turnover reached USD 12.9 billion, increasing by 8.5 percent. Exports amounted to USD 4.3 billion, while imports totaled USD 8.6 billion. In January–April 2026, mutual trade reached USD 4.5 billion, representing a 35 percent increase compared to the same period of the previous year.

Investment cooperation also plays an important role in bilateral relations. The current portfolio of joint projects is estimated at USD 43.9 billion. Priority sectors include metallurgy, energy, chemicals, agriculture, mechanical engineering, and textiles.

As of May 1, 2026, more than 3,200 enterprises with Russian capital are operating in Uzbekistan, reflecting a high level of business engagement and interest from Russian investors in bilateral cooperation.

Particular attention is also given to enhancing transport and logistics connectivity and developing new industrial cooperation chains. Within SPIEF 2026, emphasis is expected to be placed on promoting joint high-tech production, implementing investment projects, and developing new transport routes.

In this context, SPIEF serves as an effective platform for strengthening practical cooperation between business communities, advancing promising initiatives, and identifying new directions for economic partnership.

Traditionally, the St. Petersburg International Economic Forum also serves as an important venue for multilateral engagement and the development of international contacts. The participation of representatives from various countries, international organizations, and leading business circles creates additional opportunities for the broader promotion of Uzbekistan’s foreign economic interests.

The participation of the Uzbek delegation in SPIEF 2026 is expected to provide further momentum to the development of mutually beneficial Uzbekistan–Russia strategic partnership relations, the promotion of joint investment initiatives, and the strengthening of economic cooperation.