In the capital city’s international cooperation centre, a business forum has taken place with the participation of business circles of the Republic of Uzbekistan and the People’s Republic of China.

In the capital city’s international cooperation centre, a business forum has taken place with the participation of business circles of the Republic of Uzbekistan and the People’s Republic of China.

This event was devoted to the further development of the two countries’ bilateral trade-economic and investment cooperation. The forum was attended by chiefs of Uzbek and Chinese ministries and departments responsible for such spheres as external economic relations, trade, investment, oil and natural gas, geology, mineral resources, building materials production, car manufacturing, pharmaceuticals, transport and communications, logistics, information technologies and electrical engineering, and also by managers of companies.

Ulughbek Roziqulov, deputy prime minister of the Republic of Uzbekistan; Azim Ahmadkhojayev, chairman of the state committee of Uzbekistan for investments; Sun Lijie, the ambassador extraordinary and plenipotentiary of the People’s Republic of China to Uzbekistan; and others said that cooperation between the two countries was developing steadily in all its spheres and that agreements reached at bilateral talks between the two states’ leaders were important law-based foundations for this cooperation.

A treaty on friendship and cooperation and a joint declaration on strategic partnership between Uzbekistan and China serve to develop the two countries’ relations. As a result of the state visit of President of the People’s Republic of China Xi Jinping to Uzbekistan in June 2016 the two countries’ relations rose to the level of strategic partnership.

China is one of the biggest economic and investment partners of Uzbekistan. Most-favoured-nation status was established between the two states in bilateral trade relations. Agreements were signed between the two countries on trade, on the encouragement and mutual protection of investments and on the prevention of double taxation and tax evasion. These agreements serve to develop their trade and economic relations.

Thanks to Uzbekistan’s steadily developing economy, convenient geographical position, modern transportation supply lines and thorough and reliable strategy for investment attraction, China is one of many countries whose interest in cooperating with this country is rising.

There are 704 firms and companies with Chinese capital working in Uzbekistan. They work in such areas as oil and natural gas, petrochemicals, metals extraction, machine building, trade, textile, food production, health care and electrical engineering. In the year 2016, the two countries’ bilateral trade amounted to 4.7 billion dollars, and the figure for the first quarter of this year is 1.2 billion dollars.

It was especially emphasized at the forum that Uzbekistan and China had great potential for the further development of the trade-economic cooperation between the two countries.

At the business forum, speeches were made about the countries’ economic and investment potential and possibilities for the production of petrochemicals, building materials and pharmaceuticals. Chinese businessmen were provided with detailed information about large-scale reforms being implemented in this country, guarantees of the development of the small business and private entrepreneurship sphere, big conveniences and privileges in the “Navoiy”, “Jizzakh”, “Qoqon”, “Urgut”, “Gijduvon”, “Hazorasp” and “Angren” economic zones.

On the same day, a cooperative exchange took place with the participation of representatives of a number of companies and enterprises of Uzbekistan and representatives of China’s business circles. At this cooperative exchange, entrepreneurs of the two countries exchanged views on drawing up and implementing mutually beneficial and forward-looking projects.