On September 25, 2023, a significant event took place in Karshi, Uzbekistan, as the city hosted the Uzbek-Chinese Trade, Economic, Investment, and Tourism Forum. This forum was held as part of the visit by a Chinese delegation, led by the Governor of Jiangsu Province of China, Mr. Xu Kunlin. The primary purpose of the event was to strengthen economic ties and explore mutually beneficial investment opportunities between China and Uzbekistan. The forum saw participation from more than 250 representatives from various sectors, including business circles, investors, and government officials, MIIT of Uzbekistan reported.
B2B and B2G Meetings
The forum featured a series of meetings conducted in both Business-to-Business (B2B) and Business-to-Government (B2G) formats. These meetings facilitated in-depth discussions on enhancing cooperation and the establishment of joint production facilities. Representatives from the business communities of both China and Uzbekistan actively engaged in these discussions, exploring avenues for collaboration and investment.
Investment Figures
A noteworthy aspect of the forum was the discussion of investment statistics between the two nations. Over the period from 2017 to 2022, Chinese investments in Uzbekistan exceeded a remarkable $10bn. Notably, in 2022 alone, more than $2bn in investments were disbursed. This substantial influx of capital from China into Uzbekistan signifies the growing economic partnership between the two nations. Moreover, the number of enterprises established in Uzbekistan with Chinese capital involvement has reached an impressive 1,823 units, showcasing the tangible outcomes of this collaboration.
During the forum, priority sectors for investment were outlined. Both sides recognized the potential for mutually beneficial projects in these sectors:
Infrastructure Development: Investments in infrastructure projects such as transportation networks and energy facilities were identified as essential for enhancing connectivity between the two countries.
Manufacturing and Industrialization: Joint ventures in manufacturing and industrial sectors were discussed to foster economic growth and job creation.
Tourism: The tourism sector was highlighted as an area with untapped potential. Both nations discussed strategies to boost tourism and cultural exchanges.
Agriculture: Collaborative initiatives in agriculture were explored, with a focus on increasing agricultural productivity and promoting food security.
Source: MIIT
The Uzbek-Chinese Trade, Economic, Investment, and Tourism Forum in Karshi served as a platform for robust discussions on strengthening bilateral ties. The forum underscored the commitment of both nations to continue expanding economic cooperation. The promising investment figures and the wide array of sectors identified for future collaboration suggest a positive outlook for the partnership between China and Uzbekistan.
Earlier Daryo reported that China stands out as the primary partner, boasting a significant trade volume of $8.3bn with Uzbekistan, showcasing the substantial trade connections between them.
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