Belarus has proposed increasing the share of settlements in national currencies with Uzbekistan. National Bank Chairman Raman Halouchanka made the statement at a meeting with Uzbekistan’s ambassador to Belarus, Nuriddin Mamajonov, BelTA reported.
Halouchanka noted that a significant share of settlements between the two countries is currently conducted in third-country currencies, primarily the U.S. dollar. He said that given the current volume of economic cooperation, Belarus and Uzbekistan could increase the use of their own currencies.
“I believe that given the scale of our economies and the balanced trade turnover that has developed, there are good conditions for conducting more settlements in national currencies. This is a task for both the governments and the central banks of the two countries,” the National Bank chairman said.
According to him, trade turnover between the countries increased by more than 30% in 2025 and continued to grow in the first half of 2026.
“We are now talking not only about trade, but also about joint projects and investment cooperation,” he said.
The Uzbek ambassador said there were plans to increase bilateral trade turnover to $2 billion and expand industrial cooperation between companies from the two countries. He said the necessary conditions for this were in place.