Uzbekistan and Belarus intensify cooperation in investment, trade and logistics

On May 20 this year, Deputy Prime Minister of the Republic of Uzbekistan S. Umurzakov held a video-conference with Deputy Prime Minister of the Republic of Belarus V. Dvornik to discuss the development of bilateral cooperation in investment, mutual trade, transport and logistics, as well as measures preventing negative effects of COVID-19 pandemic on the economies of two countries.

The parties noted the need to intensify joint projects and initiatives. To do this, they will review and update the Road Map to develop cooperation between two countries, and, if necessary, they will hold additional negotiations between the ministries and departments of Uzbekistan and Belarus to discuss and develop related issues.

They also negotiated on possible holding of next meeting of the Intergovernmental Commission on Bilateral Cooperation between the Republic of Uzbekistan and the Republic of Belarus via videoconferencing.

The parties noted a significant potential for inter-regional cooperation through the joint development and conclusion of individual Road Maps to systematically expand cooperation between the regions of Uzbekistan and Belarus.

During negotiations, the parties shared their views on investment cooperation through industrial interaction between manufacturers of the two countries based on the successful experience of a number of Belarusian companies already engaged in investment operation in Uzbekistan. The parties identified textile, livestock, food and pharmaceutical sectors as priority areas to expand the presence of Belarusian partners and manufacturers in the Uzbek market. Herewith they considered an initiative to attract scientific and educational institutions of the two countries to introduce advanced technologies in enterprises and organize training programs within various areas.

The discussion touched upon measures to increase mutual trade, including the adoption of mechanisms for the mutual recognition of certificates of conformity and product testing protocols for Uzbek and Belarusian products, increase of a number of Agrarian Forums involving agricultural manufacturers from both countries, etc.

A particular attention was paid to the development of transport and logistics cooperation. The parties noted that it was important to strengthen cooperation to ensure uninterrupted and unhindered transportation of goods. They agreed to develop constructive proposals focused on favorable conditions for the transportation and transit of goods through of both countries.

The video-conference resulted in creation of joint working group focused on practical implementation of discussed cooperation areas and promotion of joint initiatives.

Click on the button below to listen to the text Powered by GSpeech