A joint Russian-Uzbek fish processing enterprise opened in Vladivostok, reports "Siberian Economist."

The company "Far Eastern Fisheries" is engaged in the processing and canning of fish products, crustaceans, and mollusks. It also plans to organize fish catching, procurement, and sales.

50% of the company is owned by Uzbekistan's Fish Yard and Russia's Ost Invest Holding. According to the Unified State Register of Legal Entities, Fish Yard was established in March this year, and its head and sole founder is Nikolai Khodzhidakis.

Ost Invest Holding is the parent company of the Russian Fishery Company (RFC), one of the largest enterprises in Russia's fishing industry. According to its own data, it accounts for 15% of the country's total catch.

Until March 2022, the majority owner of RFC, with a stake of over 70%, was Gleb Frank. Due to sanctions imposed on him, he transferred his stake to the company's management.

Currently, the company holds quotas for the extraction of 376,000 tons of fish, including 330,000 tons of pollock. Experts believe that pollock and herring will constitute the main share of exports for the joint venture "Far Eastern Fisheries."

At the beginning of the year, Russia increased quotas for pollock extraction for delivery to Uzbekistan to 50,000 tons and for herring to 20,000 tons. This represents about one-third of the local catch for 2023, which officially amounted to 198,900 tons.

Moreover, interlocutors consider the joint venture as a way to import fishing equipment into Russia. Under the "current circumstances," it is convenient for Russian companies to have their structures in Central Asia, noted Mikhail Burgomistrov, head of "Infoline-Analytics."

Managing partner of Agro & Food Communications, Ilya Bereznyuk, suggests that the joint venture aims to supply products from RFC raw materials to Uzbekistan. If the country joins the Eurasian Economic Union, these supplies could increase, he added.