Economic Cooperation

INFORMATION ON TRADE AND ECONOMIC COOPERATION OF THE REPUBLIC OF UZBEKISTAN WITH THE KINGDOM OF BELGIUM

The Republic of Uzbekistan and the Kingdom of Belgium are developing the trade-economic and investment cooperation which is a priority in the Uzbek-Belgian relations.

I. The following documents constitute the legal framework of trade and economic cooperation between the Republic of Uzbekistan and the Kingdom of Belgium:

- Agreement on air transport service between the Government of the Republic of Uzbekistan and the Government of the Kingdom of Belgium (November 14, 1996, Brussels);

- Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital gains between the Republic of Uzbekistan and the Kingdom of Belgium (November 14, 1996, Brussels);

- Agreement on mutual encouragement and protection of investments between the Government of the Republic of Uzbekistan and the Belgian-Luxembourg Economic Union (April 17, 1998, Tashkent);

- Agreement on mutual administrative assistance in customs matters between the Government of the Republic of Uzbekistan and the Government of the Kingdom of Belgium (November 1, 2002, Tashkent);

- Agreement for cooperation in the peaceful uses of nuclear energy between the Republic of Uzbekistan and the European Atomic Energy Community EURATOM (October 6, 2003, Brussels);

- Agreement on the provision of financial support by the Government of the Kingdom of Belgium to the Government of the Republic of Uzbekistan between the Government of the Republic of Uzbekistan and the Government of the Kingdom of Belgium (December 12, 2003, Tashkent).

The Protocol on amendments to the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital gains dated November 14, 1996 was signed on February 18, 2015 in Brussels.

II. Trade relations. In accordance with the Agreement on Partnership and Cooperation between the Republic of Uzbekistan and the European Union, the most favored nation regime has been established in trade between the two countries.

In 2017, trade volume between Uzbekistan and Belgium amounted to €69,4 mln, exports were €6,3 mln, imports – €63,1 mln.

Major sections of export: Textiles (83,8%), Vegetable products (10,0%), Plastics (3,5%), etc.

Major sections of import: Chemicals (55,5%), Machinery & Equipment (12,8%), etc.

III. Investment cooperation. Currently, 6 enterprises with the participation of Belgian capital operate in Uzbekistan, such as «Picanol», «Van de Wiele» (delivery and installation of weaving and carpet weaving machines), «Maxx Intermodal Systems N.V» (provision of services in the field of transport and trade), «Aatco Carpets» (manufacture and spinning of wool and textile fibers), «Gosselin Moving» (international and cargo transportation, logistics) и «Intraco» (manufacturing and marketing of animal feed concentrates, premixes, protein meals and additives).