TASHKENT, Uzbekistan, May 30. A bilateral online meeting was held between representatives of the Ministry of Economy and Finance of the Republic of Uzbekistan and the Ministry of Finance of the People’s Republic of China to discuss the establishment of the Shanghai Cooperation Organization (SCO) Development Bank, Trend reports.
Uzbekistan was represented by Shukhrat Matkarimov, Deputy Director of the Department of International Relations, while China’s delegation was led by Zhang Bo, Deputy General Director of the Department of International Economic and Financial Cooperation.
Throughout the deliberations, both stakeholders engaged in an
exhaustive analysis of the proposed framework, governance
structures, principal domains of operation, and funding modalities
for the forthcoming financial entity slated for establishment.
Uzbekistan underscored that this initiative will act as a crucial
nexus for enhancing investment collaboration within the SCO
paradigm, streamline regional infrastructure endeavors, and foster
sustainable economic advancement.
Subsequent to the convening, both parties reached a consensus to
perpetuate dialogues at the echelon of pertinent ministries and SCO
specialists to further propel the initiative.
In the interim, the bilateral trade volume between Uzbekistan and
China surpassed the $13 billion threshold in the preceding fiscal
year, with both nations articulating a robust optimism towards
achieving the aspirational $20 billion benchmark established by
their respective leaderships.