Uzbekistan-Belarus: trade turnover increased by 71%

On 4 February, Minister of Investments, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov received Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to Uzbekistan Leonid Marinich. The current state of Uzbek-Belarusian trade, economic, investment and industrial cooperation and prospects of its further extension have been discussed during the meeting.

It has been noted that a positive dynamic has been observed in mutual trade relations. In particular, by the end of 2022, the volume of trade turnover between the two countries will increase by 71% to exceed $530 million. At the same time, exports of Uzbek goods to Belarus have doubled. The two sides expressed willingness to make joint efforts to step up trade turnover to $1 billion in the years to come.

Prospects of deepening investment cooperation and expanding production cooperation were also discussed during the dialogue. The number of enterprises in Uzbekistan with participation of Belarusian capital reached 181, of which 77 are joint ventures and 104 are set up with 100 per cent of Belarusian investments. Only in 2022, 86 new enterprises were created. In turn, more than a hundred enterprises with Uzbek investment are operating in Belarus. The sides expressed willingness to fully support the implementation of new joint projects in industrial cooperation.