BAKU, Azerbaijan, August 25. National Bank of Uzbekistan signed a loan agreement with the State Development Bank of China on attracting a credit line in the amount of 500 million yuan ($73 million), Trend reports via the Uzbek bank.
The main advantage of this agreement is the further development of trade and economic relations between the two countries, contributing to an increase in the supply of technological equipment, raw materials, and services from China for the subsequent production of local goods with high added value.
The agreement will contribute to:
- the growth of mutual trade between Uzbekistan and China;
- attracting leading Chinese companies and advanced technologies to the implementation of large investment projects and modernization of the infrastructure of Uzbekistan;
- development on a bilateral basis of the initiative of the President of Uzbekistan within the framework of the Shanghai Cooperation Organisation regarding the stimulation of intra-regional trade and industrial cooperation.