Uzbekistan, China discuss joint project implementation

Business Materials 29 March 2012 17:01 (UTC +04:00)

Uzbekistan, Tashkent, March 29 / Trend D. Azizov /

The implementation of joint projects was discussed by Uzbek and Chinese business circles at a meeting of a subcommittee on trade, economic and investment cooperation.

A meeting of the subcommittee established under the Uzbek-Chinese Intergovernmental Cooperation Committee was held in Tashkent on Thursday.

During the talks, the Chinese delegation familiarized with the ongoing privatization process in Uzbekistan, the results of the reforms undertaken to develop the economy, the favorable conditions created in the free industrial economic zone "Navoi".

"Today's meeting was another good opportunity to ensure the implementation of agreements reached during the presidential meetings," Chinese Deputy Commerce Minister and subcommittee chairman Jiang Yaopin said.

He said China pays special attention to developing the relations with Uzbekistan, occupying a leading place among trading partners. It is one of the major investors of the country's economy.

"The scope of cooperation has been recently expanding more and more, including oil and gas sphere, geological exploration," the head of Chinese delegation said. "We are interested in further developing trade and economic relations with Uzbekistan, and intend to raise them to a higher level."

Uzbek Foreign Economic Relations, Investments and Trade Minister and subcommittee co-chairman Elyor Ganiev emphasized that cooperation between Uzbekistan and China is developing in all spheres.

The committee was established in October.

The country has implemented 30 investment projects by attracting $4 billion in Chinese investment. There are more than 380 enterprises with foreign capital from China in Uzbekistan.

The Uzbekistan-China mutual trade turnover in 2011 reached $2.596 billion.