President Shavkat Mirziyoyev proposed the establishment of the joint investment forum, suggesting Samarkand as the ideal venue for the next meeting during the Uzbekistan-China Investment Forum in Shenzhen on January 25, the presidential press service reported. The event marked a crucial continuation of the bilateral talks and agreements made during the state visit to China last year.
Addressing the forum's attendees, which included over 600 representatives of major Chinese corporations, President Mirziyoyev emphasized the growing strength of economic cooperation between the two nations. He welcomed the participants to Shenzhen, the innovation capital of China, highlighting the city's unique symbolic significance.
The president expressed satisfaction with the effective negotiations held with President Xi Jinping, resulting in 14 agreements supporting the activities of business representatives from both countries and creating favorable conditions for them. The Joint Statement of the Heads of State, signed during the visit, elevated Uzbek-Chinese relations to a comprehensive strategic partnership.
Highlighting the rapid growth of trade-economic and investment cooperation, President Mirziyoyev noted that the volume of mutual trade had doubled in recent years, reaching a record $14bn in 2023. He aimed to further increase this to $20bn in the coming years, emphasizing the potential for achieving this through a new intergovernmental agreement on the mutual supply of agricultural and industrial products.
China's total investment in Uzbekistan has surpassed $14bn, with the number of enterprises benefiting from Chinese investment tripling. The president praised the recent signing of crucial investment agreements at the interregional forum and exhibition of industrial products in Urumqi.
Uzbekistan is undergoing significant economic liberalization and structural changes, including the establishment of a fund supporting high-tech industrial projects. The president highlighted the launch of the "industrial mortgage," offering investors land and production areas as a "ready-made business."
President Mirziyoyev emphasized the importance of joint efforts to promote new projects and initiatives, outlining priority areas for future cooperation. These included expanding partnerships with Chinese companies, simplifying procedures for attracting funds from Chinese financial institutions for infrastructure projects, and developing industrial cooperation in key sectors.
The president also stressed the significance of involving advanced Chinese technologies in sustainable agriculture and promoting green energy initiatives. Agreements were reached to expand the portfolio of investment projects and development programs during the visit.
In a significant move, leading Chinese banks committed to expanding project financing, opening an Export-Import Bank representative office, and creating a new investment platform with the Silk Road Fund. The President welcomed these decisions, anticipating their positive impact on the successful implementation of projects by Chinese partners in Uzbekistan.
The Secretary of the Party Committee of Guangdong Province, Huang Kunming, expressed his full support for Uzbekistan's ongoing reforms and encouraged Chinese businesses to actively engage in mutually beneficial projects.
The forum concluded with the signing of numerous documents covering various sectors, including energy, oil and gas, mining, electrical engineering, light industry, machine building, infrastructure development, agriculture, education, transport, and logistics.
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