"The potential of our countries will be realized more effectively if we manage to resolve arising problems efficiently," the first deputy premier said.

Sergey Ivanov noted that Uzbekistan ranks the fourth among the CIS countries in terms of volumes of bilateral trade with Russia. "I would also like to note the increased interest of the Russian businesses in developing cooperation with Uzbek organizations," he said. Sergey Ivanov recalled that currently there are over 500 registered enterprises with Russian capital and large investment projects are being implemented in Uzbekistan.

Overall, the first deputy premier noted "positive dynamics in developing our trade and economic relations and its impressive pace". According to the Russian sources, bilateral trade in the first nine months of this year was US$2.3 billion (a 41.5% rise). By the end of 2007 it is expected to have reached at 3bn dollars, and if services are added it may stand at US$4 billion.