TASHKENT: The Presidents of Uzbekistan and China have set a target to increase the trade turnover between the two nations to $20 billion within the next five years. This commitment was made during a meeting between President Shavkat Mirziyoyev of Uzbekistan and President Xi Jinping of China on October 17 in Beijing.
During their discussions, the leaders addressed the need to further strengthen Uzbek-Chinese relations and comprehensive strategic partnership, expressing a keen interest in expanding their collaborative portfolio by jointly engaging in the production of innovative, high-value-added products.
Both presidents highlighted that Chinese investments have grown fivefold in recent years, with the number of companies tripling. Trade between the two countries has also seen a 36 percent increase since the beginning of 2023, and it is anticipated to exceed $10 billion by year-end.
🇺🇿President H.E. Shavkat Mirziyoyev met with the 🇨🇳President H.E. Xi Jinping in #Beijing. The leaders expressed mutual satisfaction with the consistent implementation of the previously reached agreements, boosting political dialogue and mutual support on key issues. As… pic.twitter.com/nxmEH1qU05
— Bakhtiyor Saidov (@FM_Saidov) October 17, 2023
Uzbekistan’s President Attends ‘One Belt, One Road’ Forum in Beijing
President Mirziyoyev is presently on an official visit to China to participate in the Third ‘One Belt, One Road’ International Forum, which is scheduled from October 17 to October 18 in Beijing. The agenda of this event encompasses discussions on advancing trade and economic cooperation, enhancing transportation and communication connectivity, promoting green development initiatives, digitalization, and more.
China has been actively implementing numerous investment projects in Uzbekistan, including a recent $50 million technopark project in Uzbekistan’s Syrdarya region and a contract for the supply of 2,000 electric buses to Uzbekistan by the Chinese BYD automobile company.
