In recent years, the volume of Chinese investments in Uzbekistan’s economy has increased fivefold. This was noted with satisfaction during the talks between Minister of Investment, Industry and Trade Laziz Kudratov and Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to 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 possibilities of enhancing bilateral trade-economic, investment, and financial-technical cooperation.

Prospects for the development of mutual trade were considered. As noted, the trade volume in 2022 amounted to $8.92 billion, and in the first half of 2023 – $5.6 billion. In this regard, the importance of intensifying cooperation to ensure further growth of indicators, including by expanding the supply of agricultural products, was stressed.

The parties noted with satisfaction the dynamics of growth in the volume of Chinese investments in Uzbekistan’s economy, which has increased 5 times in recent years and reached $2.2 billion in 2022. The number of enterprises with Chinese capital in Uzbekistan has tripled.

Concrete measures have been outlined to expand the scale of investment partnerships and industrial cooperation. The issues of the current state of implementation of joint projects in the energy sector, chemical industry, pharmaceuticals, agriculture, infrastructure, and transport, as well as the possibility of increasing the financial-technical assistance of the Government of the People’s Republic of China for the implementation of socially significant projects in Uzbekistan and other tasks of mutual interest were considered.

Following the meeting, a format for further cooperation was developed to accelerate the practical implementation of the agreements and the implementation of new initiatives.

 UzA