Tashkent, Uzbekistan (UzDaily.com) - On 1 November 2019, the Uzbek-Chinese business forum and business negotiations in the B2B format were held with the participation of business circles of the two countries.

As part of the business forum, the representative office of the Sichuan International Chamber in Uzbekistan was opened.

The purpose of this event is to establish economic relations for the implementation of joint ventures and investment projects.

The delegation included over 20 leading companies that operate in areas such as automation systems, electrical and energy technologies, agriculture, mechanical and electrical industries, aerospace, petrochemicals, and automobiles.

During the meeting, the Chinese delegation got acquainted with the economic potential of Uzbekistan, 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.

It is important to note that during the event the opening ceremony of the representative office in Uzbekistan of the Sichuan International Chamber was held. Representatives of the Sichuan International Chamber and leading Chinese enterprises also made a presentation.

Within the framework of the forum, “B2B” meetings were held between the business circles of the two countries, where they discussed the prospects for further development of the Uzbek-Chinese trade and economic cooperation, including an exchange of views on enhancing partnerships between enterprises of Uzbekistan and China. About 100 business entities of our country took part in individual negotiations.

On 20 March 2019, an agreement was signed on cooperation between the Chamber of Commerce and Industry of the Republic of Uzbekistan and the Association of Uzbek-Chinese Trade, which served as the beginning for such meetings between Uzbekistan and China. A number of events and the signing of cooperation agreements have contributed to increasing the export growth of Uzbek products. In particular, in 2018, the volume of bilateral trade reached US$6.42 billion (+35.2%), including exports - US$2.8 billion (+ 41.6%), imports - US$3.5 billion (+ 30.4%).

The main export positions: natural gas, services (including pipeline transit, air transportation), textile products (including cotton yarn, cotton fiber), plastics and products from them (ethylene and propylene polymers), uranium, copper, leather raw materials, processed fruit and vegetable products.

Import: mechanical and electrical equipment, chemicals and plastics, ferrous metal products, vehicles, rubber products, food products, textiles, pharmaceuticals.

Deliveries of natural gas, textile products, and ethylene polymer to China increased. Export of new types of products has been established, including mung, sweet cherries, dried fruits, carpet products, etc. In particular, in 2018 alone, export of sweet cherries to China made up more than 500 tons, green mung bean 23.281 thousand tons, 26 tons of grape seeds, 10580 thousand tons of raisins and raisins.

In Uzbekistan, there are 1016 enterprises with the participation of Chinese investment, including 116 with 100% of the capital of China.

Representative offices of 73 Chinese companies are accredited. The main areas of their activity: oil and gas, chemical, pharmaceutical and textile industries, transport, construction and telecommunications.