The seventh meeting of the Uzbek-Chinese Subcommittee on Trade and Economic Cooperation was held at the Ministry of Investments and Foreign Trade in the format of a videoconference.
From the Uzbek side, the meeting was attended by First Deputy Minister of Investment and Foreign Trade A. Voitov, senior officials of the Ministry of Foreign Trade and the involved ministries and departments, and from the Chinese side – Deputy Minister of Commerce of the PRC Yu Jianhua, representatives of sectoral ministries, departments and financial organizations of the PRC.
During the meeting, it was emphasized that the Subcommittee is the main mechanism in preparation for the upcoming meeting of the Uzbek-Chinese Intergovernmental Committee on Cooperation.
The parties noted that this event will serve as an important platform for strengthening investment cooperation and developing trade interconnection between the Republic of Uzbekistan and the People’s Republic of China.
The state of bilateral trade and economic cooperation, current issues of the development of mutual trade, in particular, the participation of the delegation of Uzbekistan
at the China International Import Expo, the provision of assistance in matters of Uzbekistan’s accession to the WTO, the prospects for the development of transportation and logistics, including the expansion of the practice of exporting Uzbek products in the format of block deliveries to the PRC.
Also, opportunities were considered for strengthening investment, technical and economic cooperation and deepening ties between the regions of the two countries.
In addition, the participants studied the documents submitted for signing during the meeting of the Uzbek-Chinese Intergovernmental Committee for Cooperation, including the Program for the 5-year development of trade, economic and investment cooperation between the Governments of the Republic of Uzbekistan and the PRC.
Following the meeting, the parties came to an agreement on further elaboration of topical issues of trade, economic and investment partnership in preparation for the upcoming meeting of the Uzbek-Chinese Intergovernmental Committee
For reference: In the first half of this year, the volume of utilized Chinese investments within the framework of State and regional investment programs amounted to more than $ 1 billion, showing a 25% increase compared to the same period in 2020.
In January-July 2021, Uzbekistan’s foreign trade turnover amounted to $ 21.6 billion, in which China holds first place – $ 4.0 billion (18.7% of the total). Compared
with the corresponding period of 2020, trade with China increased by 16.9% or by $ 581.2 million.
China is at the same time the largest export market for Uzbekistan. In January-July of this year, exports of goods and services to the PRC showed an increase compared to the same period in 2020 by $ 287.6 million (+ 28.6%) and amounted to $ 1.3 billion, or 15.9% of the total export volume of Uzbekistan.
Другие новости и события
Any use (reproduction, publication, copying, reprinting, distribution, translation, broadcasting, processing and other methods of distribution) of the materials of the Investment Portal - Invest.gov.uz, without indicating the original source and a link to the Portal is strictly prohibited!