The trade turnover between Uzbekistan and China increased by 7.3%, reaching $2.3bn in Q12023. Zhang Wei, Counselor of the Chinese Embassy in Uzbekistan, attributed this positive trend to implementing China's new development concept and new Uzbekistan's development strategy, media reports.
He highlighted that nearly 1,800 enterprises with Chinese capital had been registered in Uzbekistan, and the two countries are closely cooperating in various fields, such as coal, oil and gas, electricity, alternative energy, water and agriculture, building materials, textiles, telecommunications, health, finance, the automotive industry, and industrial parks.
The national economy of Uzbekistan is growing, with GDP increasing by 4.5% compared to the same period last year and by 2.2% compared to the previous quarter. Consumer demand is also rising, which will boost the entire market. As a result, the contribution of final consumption to economic growth has increased significantly, and retail sales peaked in the last seven quarters. Large projects and equipment modernization are speeding up, and effective investments are steadily rising.
Production is gradually being restored, with the value added of industrial enterprises exceeding the established scale, increasing by 3%, agriculture, forestry, livestock, and fisheries by 3.8%, construction by 6.7%, and services by 5.4%. The labor market situation is also improving, with the number of new jobs in urban areas increasing by 120,000 compared to last year. In addition, the average unemployment rate in urban areas fell by 0.5% in March to 5.3%.
The people's standard of living is steadily improving, with the real disposable income of the population increasing by 3.8% compared to the same period of the previous year. Zhang Wei also spoke about the key points for the growth of the two economies. China's first-quarter economic performance was encouraging, with output in the construction, services, agriculture, fisheries, and retail sectors increasing by 4.5%, 10.9%, 3.2%, and 5.2%, respectively. In addition, the deepening of practical cooperation between the two countries contributes to the recovery and development of the economies of China and Uzbekistan.
In May, President Shavkat Mirziyoyev will embark on his state visit to China to participate in the first Summit, "China - Central Asia."
Comments (0)