Uzbekistan and Belarus to create joint venture
Baku, Azerbaijan, Aug. 16
By Fikret Dolukhanov – Trend:
Minsk Motorcycle and Bicycle Plant (Motovelo trademark) will start production of bicycles in Andijan region of Uzbekistan, Belarusian BelTA news agency reported referring to the specialist for legal support and marketing of the Minsk-based company Kristina Borodko.
The relevant agreement was concluded between the Minsk Motorcycle and Bicycle Plant and the administration of Andijan region.
The parties agreed to establish long-term and mutually beneficial cooperation and to provide the joint venture with the preferences and benefits that apply to other joint ventures with foreign investments operating in Uzbekistan.
The Minsk Motorcycle and Bicycle Plant was founded in 1945. As of June 2017, 99.88 percent of Motovelo's shares are owned by the State Property Committee of Belarus.
Earlier, during the visit of the Tashkent region’s delegation to Minsk and a meeting with the Chairman of the Minsk Regional Executive Committee Anatoly Isachenko, it became known that the Uzbek side is interested in the joint production of furniture with the Minsk region.
In general, since the beginning of 2018, the trade turnover of the Minsk region with Uzbekistan amounted to $12.5 million.
Follow the author on Twitter: @FDolukhanov