Uzbekistan, China discuss development of trade-economic ties
Tashkent, Uzbekistan (UzDaily.com) -- The Chamber of Commerce and Industry of the Republic of Uzbekistan organized a business meeting by business circles of Uzbekistan and China on 10 June 2019, in which the potential of trade, economic and investment cooperation between Uzbekistan and China was presented.
During the meeting, the delegation of the People’s Republic of China got acquainted with the ongoing reforms in Uzbekistan to improve the investment climate, liberalize the economy, and ensure the protection of the legitimate rights and interests of entrepreneurs.
The speakers noted that today the bilateral relations of Uzbekistan and China have risen to a new level of their development, which encompass not only political, trade and economic cooperation, but also scientific, technical, cultural and humanitarian spheres.
The strengthening of our relations is facilitated by constant contacts of the leaders of Uzbekistan and China at the highest level. It was noted that the recent visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to China in April 2019 opened a new milestone in the further expansion and strengthening of bilateral relations between our countries.
The intensification of trade, economic and investment cooperation between our countries is also clearly expressed in the annual increase in mutual trade between our countries.
In 2018, bilateral trade between Uzbekistan and China made up US$6.4 billion, an increase of 35%.
There are 1016 enterprises with participation of Chinese investments in the republic, including 116 enterprises with 100% Chinese capital. Representations of 73 Chinese companies are accredited. The main areas of their activities: oil and gas, chemical, pharmaceutical, textile industry, transport, construction and telecommunications.
Separately, the issue is the implementation of investment projects with the participation of China. Only in 2018, the total value of projects implemented with the participation of Chinese investment in Uzbekistan amounted to more than US$2.5 billion.
The created favorable business climate in the country largely predetermines the attractiveness of investing in the economy of Uzbekistan. In this regard, our country is becoming the most attractive from the point of view of the existing potential of the Central Asian market for the implementation of investment projects in various sectors of the economy.