Tashkent, Uzbekistan (UzDaily.com) -- On 27 July this year, Minister of Investment, Industry and Trade Laziz Kudratov held talks with Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Republic of Uzbekistan Yu Jun.

The parties discussed the implementation of the agreements reached during the visit of the Head of State to China in May this year, as well as the possibility of expanding bilateral trade, economic, investment, financial and technical cooperation.

The prospects for the development of mutual trade were considered, the volume of which in 2022 amounted to US$8.92 billion, and in the first half of 2023 - US$5.6 billion. The importance of intensifying interaction to ensure further growth in indicators, including through the expansion of supplies of agricultural products, was emphasized.

The dynamics of growth in the volume of Chinese investment in the economy of Uzbekistan, which has increased 5 times in recent years and reached US$2.2 billion in 2022, was noted with satisfaction. The number of enterprises with Chinese capital in our country has tripled. Specific measures have been outlined to expand the scale of investment partnership and industrial cooperation.

During the dialogue, the current state of the implementation of joint projects in the energy sector, chemical industry, pharmaceuticals, agriculture, infrastructure and transport, as well as the possibility of increasing financial and technical assistance from the Government of the PRC for the implementation of socially important projects in Uzbekistan and other issues of mutual interest were considered.

As a result of the meeting, a format for further interaction was developed in order to accelerate the practical implementation of the agreements reached and the development of new promising initiatives, the MIPT press service reports.