TASHKENT, Uzbekistan, May 2. Uzbekistan's Toshkent Invest Company signed a memorandum of cooperation with China CAMC Engineering Co Ltd to implement agreements, Trend reports.
According to the Tashkent government office, the document was signed at a meeting with the representatives of China CAMC Engineering Co Ltd headed by Chairman of the Board Wang Bo.
The company will become a reliable partner of Tashkent in achieving the goals of high-tech production and will entail other large Chinese enterprises.
During the meeting, the sides discussed cooperation on the launch, management, and development of the Yangi Avlod free economic zone located in the Yangihayot district of Tashkent.
Wang Bo noted that this facility will become a hub based on the developed systems of dry port, focused on the market with a population of at least 150 million consumers.
Meanwhile, Uzbekistan’s foreign trade turnover volume with China amounted to $3 billion from January through March 2024. This figure is 30.4 percent higher year-on-year ($2.3 billion in January–March 2023).
China ranks first among the countries with the largest volume of foreign trade turnover in Uzbekistan. The country’s share in the total volume of trade turnover in Uzbekistan accounts for 19 percent.