Belarus, Uzbekistan set to expand economic interaction

By  Trend

Uzbekistan and Belarus plan to sign a new intergovernmental agreement on economic cooperation, designed for the period until 2028. This was announced after the meeting of the joint intergovernmental commission in Minsk on Dec.20.

The previous agreement, which expires on Dec.31, 2017, envisaged the implementation of a specific program of economic cooperation between the two countries. Then the parties agreed to bring the trade turnover up to $1 billion. Despite the announced plans, it continues to fluctuate around $100 million.

The new agreement is expected to be drafted before February 2018.

"In 2016-2017, we managed to identify areas of cooperation across all sectors that allow us to say that by 2020 we will be able to achieve a turnover of $500 million. Today, we signed a Road Map for 2018, which outlined areas in which we will develop cooperation. This covers machine building, agro-industrial complex, construction and production of building materials, healthcare, production of medical products," Deputy Prime Minister of Belarus Mikhail Rusy said.

During the meeting of the intergovernmental commission, the parties also discussed issues of further development of industrial cooperation, as well as interaction in science and technology, health, education, tourism and other areas.

In addition to the Road Map, a memorandum of understanding was signed on cooperation between the Ministry of Industry of Belarus and Uzeltehsanoat on joint activities in the electrical industry.