Business news

MINSK, 4 September (BelTA) – Belarus and Uzbekistan are launching joint ventures to produce medicines and healthcare products, Belarus’ Ambassador to Uzbekistan Leonid Marinich said in an interview to the UzA news agency, BelTA has learned.

“The joint ventures to produce much-needed medical products are about to go online. Apart from that, work is underway to set up a joint venture in light industry,” the diplomat noted.

According to Leonid Marinich, Belarus is ready to make a contribution to the economic upgrade of Uzbekistan and suggests teaming up with Uzbekistani partners to establish modern high-tech companies which products could be sold domestically and abroad.

“Closer cooperation in the manufacturing industry is viewed as one of the promising areas of the bilateral cooperation,” the ambassador said.

In 2017 Belarusian holding companies Amkodor and Bobruiskagromash set up joint ventures in Uzbekistan to produce vehicles to be used in road construction and agriculture.

Minsk Tractor Works launched a joint venture to produce tractors in Tashkent. Another Belarusian company established a joint venture in Uzbekistan’s capital to make reagents for food industry and veterinary medicine.

Belarus is ready to share its best practices in establishing and operating dairy and cattle breeding complexes and vegetable storages and to provide Uzbekistan with the necessary equipment, technology and services.

Leonid Marinich emphasized that Uzbekistan is among Belarus’ most important partners in Central Asia. In 2017 the bilateral trade more than doubled to reach $131 million. Positive trends remain in place this year: in H1 2018 the bilateral trade has already exceeded $90 million.