The Deputy Prime Minister of the Republic of Uzbekistan briefed that today there are 80 companies with the Belarusian capital in Uzbekistan and six joint ventures with Uzbek capital in Belarus, reported Belta.

"The two states have an untapped potential in the area. The results we have reached are not the limit. We can identify concrete areas of cooperation in the new sectors," the Uzbek Vice Premier underlined. Nodirkhon Khanov noted that the free trade regime between Belarus and Uzbekistan has led to a considerable growth in trade turnover.

Nodirkhon Khanov noted that "the two countries are traditional partners linked by many-year trade and economic, sci-tech, cultural relations". The two countries maintain a constant constructive dialogue.

Today, Belarus and Uzbekistan have been actively developing bilateral relations and cooperation in international economic organisations. The two countries have been working on strengthening links in the sci-tech area, healthcare, education, culture, the Uzbek Vice-Premier underlined. He considers that the two sides have to tap deeper into the sci-tech potential. Uzbekistan is ready to offer Belarus a wide range of products, equipment and technologies that are in demand at the Belarusian market.

"Our countries are centers of scientific thought both on the regional and international scale," Nodirkhon Khanov considers. According to him, Uzbekistan knows well about the achievements of Belarus in the development of new materials, research in material science, physics, information science, energy-saving technologies, alternative energy in the agricultural industry.

The bilateral cooperation will be promoted by the new projects in farm engineering. The Uzbek side also offers to set up joint ventures in pedigree cattle breeding and development of veterinary medical products. The two sides can set up joint ventures in pharmaceutics as well.

Tourism development is another promising area of bilateral cooperation.

In 2007, Uzbekistan ranked fifth in foreign trade and exports of the Republic of Belarus with the CIS countries. In 2007, trade between Belarus and Uzbekistan reached $114.6 million, up 62.7% over 2006. The exports totaled $93.1 million, up 71.6%, imports - $21.6 million, up 33.2%. Belarus’ trade surplus with Uzbekistan was $71.4 million.

In January-April 2008, trade between Belarus and Uzbekistan increased by 40.3% as against the same period of 2007 and reached $44.04 million. The exports grew 33.6% to $34.6 million, imports 71.3% to $9.5 million. Trade surplus totaled $25.1 million.

Uzbek major imports from Belarus are high-tech products: trucks, tractors, articles from wood, equipment, household appliances, medicines.