Business news

30 Jul 2019

Belarus-Uzbekistan trade might reach $500m in 2019

Elyor Ganiyev. An archive photo

MINSK, 30 July (BelTA) – The trade between Belarus and Uzbekistan might amount to about $500 million in 2019, Uzbekistan Deputy Prime Minister Elyor Ganiyev has told the ONT TV channel, BelTA has learned.

“The two heads of state have set a task to grow bilateral trade. We hope that this year the trade will approximate $500 million,” Elyor Ganiyev said.

In his words, Uzbekistan sees great prospects in bilateral cooperation, including in the manufacturing industry. “This is one of the most interesting areas. We are working from two sides. I believe that we have great opportunities here,” the vice-premier said.

Belarusian Deputy Premier Vladimir Dvornik emphasized: “We will do everything to keep bilateral trade on the growth track.”

Diplomatic relations between Belarus and Uzbekistan were established on 21 January 1993. In 2018 bilateral trade amounted to $157.4 million (up 20.2% over 2017). Belarusian merchandise export totaled $113.6 million (up 18.2%). In January-May 2019 bilateral trade made up $89 million (up 14.6% year-on-year), with Belarusian merchandise export at $67.9 million (up 14.3%).

In 2018 Belarus raised $2.2 million in investment from Uzbekistan (up 2.5 times over 2017), of them $2 million was direct investment (up 2.3 times). In Q1 2019 Belarus attracted $874,600 in investment from Uzbekistan (up 9%), including 869,900 in direct investment (up 20.6%).



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