Uzbekistan attaches importance to trade, economic ties with China: minister-Xinhua

Uzbekistan attaches importance to trade, economic ties with China: minister

Source: Xinhua

Editor: huaxia

2023-05-17 20:07:00

XI'AN, May 17 (Xinhua) -- Uzbekistan is keen on developing trade, economic and investment cooperation with China and welcomes Chinese companies to do business in the country, its industry minister said here Wednesday.

China is one of Uzbekistan's most important partners, Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov said at a business forum held ahead of the China-Central Asia Summit, which is scheduled for May 18 and 19 in the Chinese city of Xi'an.

In 2022, bilateral trade grew 20 percent year on year, said the minister, hoping that the goal of 10 billion U.S. dollars in annual trade set by both heads of state could be achieved soon.

Noting that China-Uzbekistan cooperation covers such areas as the chemical, textile, and oil and gas industries, Kudratov said that tens of thousands of jobs have been created in Uzbekistan.

The minister also briefed participants on the reforms in Uzbekistan over the past few years and measures to improve the business environment.

Noting the respective competitive advantages of both countries, Kudratov said that by combining China's innovative technologies with Uzbekistan's resources, the two countries could improve energy efficiency and manufacture products with high-added value for export to other countries.

He expressed hope for more cooperation in automobiles, electronics and food.