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Uzbekistan to enjoy benefits of China's new free trade zone

Business Materials 20 November 2018 11:04

Baku, Azerbaijan, Nov. 20

By Fikret Dolukhanov – Trend:

A permanent exhibition of Uzbek goods will be organized in the Chinese Shaanxi pilot free trade zone in the city of Xi'an, Uzbek media reported referring to the Memorandum of Cooperation, signed between the Uzbek Small Businesses and Private Entrepreneurship's Export Promotion Fund and the Directorate of Shaanxi FTZ within the framework of the international exhibition China International Import Expo 2018, which was recently held in Shanghai.

The Shaanxi FTZ donated 500 square meters of space to the Uzbek Fund for the organization of a permanent exhibition of Uzbek goods. Construction and installation work is currently being carried out on the territory, and the facility is planned to be launched until Nov. 30.

The Chinese side also offered Uzbekistan to use the Chang'an international freight train, which connects the city of Xi'an with Central Asia and Europe, and is one of the most convenient and fastest ways to deliver goods from Uzbekistan to the Shaanxi FTZ. At the same time, the Shaanxi FTZ will provide a 50-percent discount on the delivery of goods from Uzbekistan.

It is planned that over 1,000 large wholesale companies from China will visit the Uzbek exhibition complex in Xi'an every day.

China is the largest foreign trade partner of Uzbekistan. In January-October 2018, the trade turnover between Uzbekistan and China amounted to $5,228.4 million, of which $2,202.1 million is exported from Uzbekistan, and $2,826.4 million is imported from China.

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Follow the author on Twitter: @FDolukhanov

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