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Uzbek Presidential official visit to Belarus for strengthening bilateral economic cooperation

The presidential press service reports that Shavkat Mirziyoyev will pay an official visit to Belarus with the invitation of Alexander Lukashenko on July 31 - August 1.

To discuss the current state of bilateral cooperation and prospects for development of relations in political, trade, economic, investment, cultural, humanitarian and other spheres is planned in Minsk. Topical issues of the regional and international agenda will also be considered.

In addition, the leaders of the two countries will visit the National Industrial Exhibition of Uzbekistan in Minsk and the High-Tech Park of Belarus.

During the visit, the sides are expected to sign a joint statement and adopt a weighty package of documents that will become a solid basis for expanding and strengthening the Uzbek-Belarusian multifaceted partnership, including in the field of investment, industrial-scientific and technical cooperation, establishing direct links between regions.

Two countries have had a warm economic cooperation for several years. For instance, bilateral trade was US$157.4 million in 2018. Belarus exported US$113.6 million. Last year, Uzbekistan invested US$2.2 million in the Belarusian economy.

It should be noted that pharm industry between two countries is being developed very well. As an example, Belpharmprom Holding and the Agency for Development of Pharmaceutical Industry under the Ministry of Health of Uzbekistan and Fagusal (Uzbekistan's company that sells wholesale pharmaceutical and medical products) signed a cooperation agreement on the sidelines of the 1st Forum of Regions of Belarus and Uzbekistan in Minsk.

It is aimed at implementing a project to establish a joint venture to manufacture medicines in the form of pills and capsules. This project is transnational and strategic. The products are to be shipped to third countries, in particular, Afghanistan. The company will be registered this year. The project caught the interest of many Belarusian manufacturers.

The local market launch of the products made by Belarus-Uzbekistan pharmaceutical company that is being set up in Uzbekistan is scheduled for 2020.

As a conclusion, it must be generated that bilateral economic cooperation between Belarus and Uzbekistan is increasing year by year.  We can see it by the help of statistics. That is to say, bilateral trade between Belarus and Uzbekistan may reach about US$500 million in 2019.

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