Business circles of Uzbekistan and China agree on cooperation

Business Materials 25 May 2012 10:32 (UTC +04:00)

Uzbekistan, Tashkent, May 25 /Trend D.Azizov/

The two agreements on cooperation between territorial departments of Commerce and Industry (CCI) of Uzbekistan and the regional offices of China Council for Promotion of International Trade (CCPIT) were signed on Thursday in Tashkent during the Uzbek-Chinese business forum.

In particular, the agreements between the Tashkent Chamber of Commerce and the management committee of Sichuanskim CCPIT and the agreement between the management of CCI of Tashkent region and Xinjiang Uygur Committee of CCPIT were signed.

The Chinese delegation included representatives of the CCPIT departments in cities Sinztsyan, Sichuan, Kashgar, Guangdong Province, as well as representatives of a number of Chinese companies - Kashi Automobile (automotive), Kashgar Zhongya Xinxing (Agriculture), Xinjiang Hailili (logistics, service, international trade ), Taxkorgan (trade), Xinjiang Hazina Import & Export Trade (mining equipment) and others.

Business representatives have discussed directions of intensifying relations, promotion of cooperation between Uzbekistan and China through the SCO Business Council.

Chairman of CCI Alisher Shayhova said despite the fact that the balance between exports and imports reached almost the optimum level, the Uzbek business is not very actively entering Chinese markets.

"We would like to strengthen cooperation in investment, increase the involvement of Chinese partners for the establishment of joint ventures with participation of private entrepreneurs for development of trade and economic relations," Shaykhov said.

Vice President of CCPIT Yu Ping said the committee will endeavor to support the participation of Chinese enterprises free trade zones and industrial parks created in Uzbekistan.
According to State Statistics Committee of Uzbekistan, trade turnover between Uzbekistan and China amounted to $2.59 billion in 2011, including exports - $1.30 billion, import - $1.29 billion.

There are 382 enterprises established with the participation of investors from China, 58 companies of which - with one hundred percent Chinese investment, and representations of 65 Chinese companies accredited.