Business news
Over 80 companies with Belarusian capital operating in Uzbekistan
MINSK, 26 August (BelTA) – More than 80 companies with Belarusian capital currently operate in Uzbekistan. The bulk of them was launched within the past two years, BelTA learned from the Belarusian diplomatic mission.
“The official visit of the Belarusian president to Uzbekistan in September 2018 and the return visit of the Uzbekistani head of state in August last year gave a serious impetus to the Belarusian business community in Uzbekistan. The most common forms of business activity of Belarusian legal entities and individuals in Uzbekistan are establishing new companies in line with Uzbekistan legislation and foreign enterprises with 100% Belarusian capital, as well as joint ventures,” the embassy said.
Mechanical engineering has become one of the priority areas of cooperation with Uzbekistan. Belarusian flagship companies such as MTZ, MAZ, Amkodor are running joint projects with their Uzbek partners in Tashkent and other regions of Uzbekistan.
Mutual visits and negotiations between business people and between regional authorities of the two countries resulted in new promising projects, like projects to start producing healthcare products, welding electrodes and shoes in Uzbekistan.
According to the diplomatic mission, last year Belarus-Uzbekistan trade in goods and services exceeded $325 million, a record for the bilateral trade and economic cooperation. The export of Belarusian goods and services to Uzbekistan amounted to $272 million. “Despite objective difficulties related to the coronavirus pandemic, we managed to maintain momentum in the export of Belarusian goods (excluding oil and petroleum products) to Uzbekistan in H1. The export made up $87.5 million, up 0.2% year-on-year,” the embassy informed.
The diplomatic mission believes that regular flights of the Belavia air carrier between the two capitals will be highly instrumental for promoting business contacts between Belarus and Uzbekistan. Since July this year, the national air carrier, with the assistance of the Belarusian embassy in Tashkent, has already flown eight times to the Uzbek capital.
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