The electron and hole energy states and oscillator strengths for interband transitions of two interacting Quantum dots (QDs) are theoretically studied. We explore how the properties of the system depend on the distance between them. Calculations are done for InAs QDs which are embedded in GaAs. The QDs have cylindrical form and are situated one on top of the other in such way that their symmetry axes coincide. The calculations are done in the envelope function approximation using position dependent effective masses. Finite Element Method (FEM) is utilized to find energy spectra, wavefunctions and oscillator strengths. We find that the hole states show less tunneling compared to the electron states, transitions in general show some anisotropy which decreases as the distance between the dots decrease and that the total oscillator strength for each particular transition is constant.