The current state and prospects of cooperation with China considered

Tashkent, Uzbekistan (UzDaily.com) -- On 31 March, in the format of a videoconference, negotiations were held between the Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov with the Minister of Commerce of the People’s Republic of China (PRC) Wang Wentao, cooperation and the current state of implementation of mutual agreements in priority areas.

The heads of diplomatic missions of Uzbekistan and China also took part in the negotiations.

During the meeting, it was noted that thanks to the efforts of the Heads of the two states, relations between the countries are consistently strengthening. As part of the development of Uzbek-Chinese cooperation, many large projects have been implemented in various fields. They also considered the existing opportunities for expanding investment cooperation and industrial cooperation in the chemical, electrical, textile, leather industries, as well as the building materials industry.

An agreement was reached to intensify interaction to attract large Chinese companies to the implementation of new projects in Uzbekistan aimed at creating high-margin industries using innovative Chinese technologies. Currently, 40 promising project proposals have been developed, which are subject to further study with Chinese investors.

Also during the dialogue, the parties agreed to join efforts to accelerate the elaboration of the draft Agreement between the Governments of Uzbekistan and the PRC on the approval of the "Program for the development of trade, economic and investment cooperation for 2021-2025."

Issues related to the organization and holding of the 6th meeting of the Uzbek-Chinese Intergovernmental Committee for Cooperation and relevant subcommittees this year were considered separately. It was noted that the holding of these events will give a significant impetus to the development of bilateral partnership and will highlight the most promising areas of interaction. At the same time, the prospects of organizing a visit of a delegation of government and business circles of Uzbekistan to the PRC in the near future were considered.

Significant interest of Uzbek exporters in expanding the supply of fresh and dried fruit and vegetable products to the Chinese market was noted, in connection with which, during a substantive dialogue, further steps were outlined to promote Uzbek products and build stable mechanisms of cooperation with Chinese customers.

Significant potential for the development of cooperation with the Eximbank of the PRC, the State Development Bank of China and the Silk Road Fund was noted, bearing in mind the increase in the number of funded large investment projects.

Following the talks, the parties stressed their mutual commitment to the implementation of all the agreements reached, as well as the relevance and effectiveness of regular bilateral negotiations for the prompt coordination of emerging issues and the development of new areas of cooperation.