Belarus president optimistic about expanding bilateral trade with Uzbekistan

Belarusian President Aleksandr Lukashenko expressed optimism about boosting bilateral trade with Uzbekistan to $2 billion, during a meeting with Uzbek Ambassador to Belarus, Rakhmatulla Nazarov, in Minsk, BelTA reports.

At the start of the meeting, Lukashenko highlighted the preparations for the planned visit of Uzbekistan President Shavkat Mirziyoyev to Belarus. “I think by that time we will update the list of all our points, summarizing them and developing a plan for the short and medium term. Relations are developing well. Especially in the light of the recent visit of our government delegation headed by the prime minister to your country,” he said.

Lukashenko emphasized the potential for growth in trade: “I greatly appreciate the agreement to hit $2 billion trade turnover in the near future, by around 2030. This is entirely possible. Especially since the economies of our countries are not competitors to one another. Everything that we produce—from agriculture to mechanical engineering—is all needed by the densely populated Uzbekistan.”

In 2025, trade between Belarus and Uzbekistan reached nearly $855 million, up 34.8% from 2024, with Belarus posting a trade surplus of over $517 million. The upward trend continues into 2026, with trade in services also growing. In 2025, services trade increased 56.1% year-on-year, reaching $207.9 million.

Belarusian investment in Uzbekistan is also expanding, with 229 organizations registered in Uzbekistan with Belarusian residents as their founders, signaling deepening economic ties between the two nations.

By Vafa Guliyeva