On July 27 Uzbekistan's Investment, Industry, and Trade Minister Laziz Kudratov and Chinese Ambassador to Uzbekistan Yu Jun discussed the progress of agreements from their state visit to China in May They focused on bolstering bilateral trade, economic ties, investments, and technical cooperation, announced the Ministry of Investment, Industry an Trade of Uzbekistan.
Their discussion involved expanding mutual trade, which stood at $8.92 bn in 2022 and $5.6 bn in 2023's first half. Both emphasized the need to augment collaboration, especially in supplying agricultural products.
Chinese investments in Uzbekistan's economy have grown five-fold recently, totaling $2.2 bn in 2022. Enterprises with Chinese capital in Uzbekistan also tripled. They planned steps to enhance this investment partnership and industrial cooperation.
They reviewed joint projects' progress in various sectors, including energy, chemical industry, pharmaceuticals, agriculture, infrastructure, and transportation. They also discussed increasing China's financial and technical aid for Uzbekistan's socially significant projects.
The meeting concluded by setting a collaboration framework to accelerate the implementation of existing agreements and explore new initiatives.
