Business news

Belarus, Uzbekistan intend to deepen localization of joint ventures

MINSK, 29 July (BelTA) – Belarus and Uzbekistan intend to move to deeper localization of joint venture, Deputy Economy and Industry Minister Sahib Saifnazarov of Uzbekistan told the media on the margins of the 1st Forum of Regions of Belarus and Uzbekistan in Minsk on 29 July, BelTA has learned.

“We intend to switch from SKD production to deeper localization in the industry. Negotiations are currently in place, and I think we will arrive at concrete decision tomorrow,” the deputy minister said and added that the matter is about machine building first thing.

He expressed the hope that the parties will reach a number of important agreements and arrangements during the forum. Among the promising areas for industrial cooperation are electrical, textile, and food industries.

The deputy minister announced the amount of commercial contracts that Uzbekistan would like to sign during the Forum of Regions with Belarus: “We intend to conclude contracts worth at least $200-300 million.”

Sahib Saifnazarov took part in the pane discussion on the ways to bolstering industrial cooperation. The event is hosted by Minsk Tractor Works.

The First Forum of Regions of Belarus and Uzbekistan is running in Minsk on 29-30 July  Three panel discussions focus on industrial cooperation, agro-industrial complex and cooperation in humanitarian matters, ICT, science.

The plenary on 30 July will discuss “Cooperation of Regions as the Key Factor in the Development of Interstate Relations”. Some 15 interregional agreements on cooperation and also commercial contracts will be signed during the forum.

Guests and participants of the forum will get familiar with the exhibition of Uzbek goods. Themed expositions will be on show on the sidelines of the panel discussions.  A monument to Uzbek poet Alisher Navoi will be unveiled in Minsk during the forum.

Taking part in the event are representatives of regions, ministries and agencies, MPs, and businessmen of the two countries. The delegation of Uzbekistan will be led by First Deputy Chairman of the Senate of Oliy Majlis (Parliament) Sadiq Safaev. The Uzbekistan delegation will include representatives of Andijan, Bukhara, Jizzakh, Namangan, Samarkand, Xorazm, Fergana and Tashkent regions.

The forum will take place as part of the official visit of Uzbekistan President Shavkat Mirziyoyev to Belarus.