On November 1, 2019, the Uzbek-Chinese business forum and business negotiations in the “B2B” format with the participation of business circles of the two countries were held.
Within the framework of the last business forum, the representative office of the Sichuan international chamber in Uzbekistan was opened.
The purpose of this event is to establish economic relations for the implementation of joint ventures and investment projects.
The delegation included more than 20 leading companies that operate in such areas as automation system, electrical and energy technologies, agriculture, mechanical and electrical industry, aerospace, petrochemical, automotive industry.
During the meeting, the Chinese delegation got acquainted with the economic potential of Uzbekistan, with the ongoing reforms in Uzbekistan to improve the investment climate, liberalize the economy, and protect the legitimate rights and interests of entrepreneurs.
It is important to note that during the event, the opening ceremony of the representation of the Sichuan international chamber in Uzbekistan was held. The presentation was made by the economic consular Department of China, as well as representatives of the Sichuan enterprise.
The forum held a B2B meeting between the business circles of the two countries where they discussed the prospects of further development of Uzbek-Chinese trade-economic cooperation, including the sides exchanged views on enhancing partnerships between businesses of Uzbekistan and China. About 100 business entities of our country took part in individual negotiations.
Recall that on March 20, 2019, an agreement on cooperation between the chamber of Commerce and industry of the Republic of Uzbekistan and the Association of Uzbek-Chinese trade was signed, which served as the beginning for such meetings between Uzbekistan and China. A number of events and the signing of cooperation agreements have contributed to the increase in the growth of exports of Uzbek products. In particular, in 2018, the volume of bilateral trade reached 6.42 billion dollars. US $ (+35.2), including exports – $ 2.8 billion.Us (+41.6%), imports - $ 3.5 billion. US (+30.4%).
The main export items are: natural gas, services (including pipeline transit, air transportation), textile products (including cotton yarn, cotton fiber), plastics and products thereof (ethylene and propylene polymers), uranium, copper, leather raw materials, processed fruits and vegetables.
Imports: mechanical and electrical equipment, chemical goods and plastics, ferrous metal products, vehicles, rubber products, food products, textiles, pharmaceuticals.
Supplies of natural gas, textile products and ethylene polymer to China have increased. Exports of new products, including Masha, cherries, dried fruits, carpets, etc. in particular, in 2018 alone, exports of cherries to China amounted to more than 500 tons, green Masha 23.281 thousand tons, 26 tons of grape seeds, 10580 thousand tons of raisins and kishmish.
On the territory of Uzbekistan there are 1016 enterprises with Chinese investments, including 116-with 100% capital of China.
Representative offices of 73 Chinese companies are accredited. Their main areas of activity are oil and gas, chemical, pharmaceutical and textile industries, transport, construction and telecommunications.