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Trade turnover between Uzbekistan, Belarus hits over 145mln

4 January 2019 17:37 (UTC+04:00)
Trade turnover between Uzbekistan, Belarus hits over 145mln

By Abdul Kerimkhanov

The trade turnover between Uzbekistan and Belarus in January-November 2018 amounted to $ 145.2 million, which is 28.5 percent more compared to the same period in 2017.

According to the Belarusian Embassy in Tashkent, exports of Belarus to Uzbekistan grew by 30.1 percent in the reporting period and amounted to $ 106.3 million. Imports from Uzbekistan totaled $ 38.8 million in January-November 2018, which is 24.4 percent more compared to the same period of 2017.

The volume of foreign trade in services of Belarus and Uzbekistan amounted to $ 32.6 million (4.2 times increase), while the export of Belarusian services to Uzbekistan amounted to $ 29.9 million (4.9 times increase), import - $ 2.7 million (an increase of 65.5 percent).

Diplomatic relations between Belarus and Uzbekistan were established in January 21, 1993.

Countries celebrated the 25th anniversary of the establishment of diplomatic relations by the joint issue of a post stamp.

The Uzbek exports to Belarus mainly consist of vegetables and fruits, dried fruits, cotton, cars and clothing. Belarus supplies the Central Asian republic with tractors, road and construction equipment, medicines, epoxy resins, chassis with engines for cars, oil products and meat.

About $ 802.300 of investments were made by the Uzbek side to Belarus in the first quarter of 2018 (it makes 410 percent compared to January-March 2017), including direct investments - $ 721.400 (382.9 percent).

The parties signed a “roadmap” on cooperation at the end of 2017, which provides for the intensification of the Belarusian-Uzbek relations in the current year in the trade, economic, cultural and humanitarian spheres.

Both countries planned to increase trade to $ 500 million by 2020. Given the current growth rate, the goal looks quite feasible. This task is planned to be solved thanks to the development of cooperation in such areas as mechanical engineering, the agro-industrial complex, construction and health care.

In addition, in September 2018 Belarus and Uzbekistan launched a joint production of medical drugs. In addition, last year was marked by a number of new bilateral projects. Belarusian holdings Amkodor and Bobruiskagromash created joint ventures for the production of road-building and agricultural equipment in the Central Asian republic. The famous Minsk Tractor Works launched a joint tractor production in Tashkent.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

Follow us on Twitter @AzerNewsAz

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