Tashkent recently played host to the Uzbekistan – China Business Forum, a significant event organized by the Association of Exporters of Uzbekistan, the National Information Agency of Uzbekistan reported.
The primary objective of the forum was to foster and strengthen trade relations between Uzbekistan and China, drawing together key stakeholders from diverse sectors such as logistics, food and beverages, and agriculture.
The event saw a robust attendance, with participants including business leaders from China, industry experts, both foreign and local entrepreneurs, as well as exporters representing Uzbekistan's diverse economic landscape. The discussions and networking sessions focused on identifying potential investment areas for collaboration, with an emphasis on forming strategic alliances that could catalyze economic development in both nations.
In the previous year, Uzbekistan demonstrated a notable export portfolio to China, including mineral fuels ($849.5mn), services ($703mn), industrial products ($629.8mn), chemical products ($133.3mn), and food products ($108.8mn). Conversely, China exported machinery and equipment ($3.6bn), industrial products ($1.3bn), chemical products ($821.9mn), various finished products ($470.8mn), and services ($90.2mn) to Uzbekistan.
The forum shed light on promising opportunities for local exporters, particularly in the sectors of precious metals, organic chemicals, and fruits and nuts. Uzbekistan is poised to leverage its untapped potential for the production and export of these goods, presenting a lucrative market entry point for both nations.
Yorqin Malikov, Chairman of the Association of Exporters of Uzbekistan, expressed optimism about the outcomes of the forum. Malikov noted that the event would significantly contribute to the development of trade and economic relations between the two countries. Moreover, the forum is expected to facilitate collaborations with representatives of major companies, fostering increased exports and the establishment of joint ventures in both Uzbekistan and China.
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