Uzbekistan, China sign several agreements in economic sphere

Business Materials 28 November 2013 18:04 (UTC +04:00)

Tashkent, Uzbekistan, Nov. 28

By Demir Azizov - Trend:

Around 20 bilateral interdepartmental documents were signed by representatives of Uzbek and Chinese business circles during the recent Uzbek-Chinese business forum, a representative of the Uzbek Ministry for Foreign Economic Relations, Investment and Trade told Trend today.

In particular, according to the source, a memorandum of understanding on establishing a textile complex for production in Kashkadarya region, a memorandum of understanding on cooperation in the implementation of fibre glass, yarns, fabrics production project, agreement on the production of disposable medical products and non-woven fabric and a letter of intent on the production of pharmaceutical products of wide application were signed.

According to the source, the business forum was held during a Chinese business delegation visit led by Deputy Chairman of Good-neighbourliness, Friendship and Cooperation Committee of the Shanghai Cooperation Organisation (SCO) Zhang Deguang's visit to Uzbekistan.

Ministers and heads of departments, companies and Uzbekistan and Chinese concerns responsible for external economic relations, the banking and financial sector, engineering, aviation, high-tech, textile and light industries, air transportation, energy, oil and gas production, building materials, carriages and pharmaceuticals attended the event.

China holds a leading position among Uzbekistan's trade partners. Uzbekistan and China signed more than 170 international legal documents covering a wide range of bilateral cooperation.

Bilateral trade has been increased 60.8 per cent to $3.56 billion for the first nine months of 2013 compared to the same period in 2012.

China is one of the largest investors in the Uzbek economy and the amount of investments exceeds $6.5 billion. Around 488 enterprises with Chinese investors are operating in Uzbekistan. Representative offices of the biggest companies have been opened.