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Uzbekistan and China will increase trade to $ 10 billion

Uzbekistan and China until 2020 intend to bring the volume of bilateral trade to 10 billion dollars.

The Minister of Foreign Economic Relations, Investments and Trade of Uzbekistan Elyor Ganiev announced this intention today in Tashkent during the fifth meeting of the Subcommittee on Trade and Economic Cooperation of the Uzbek-Chinese Intergovernmental Committee.

Last year, the volume of mutual trade between Uzbekistan and China exceeded
4.2 billion dollars, but definitely there is a significant potential for improvement, representatives of both countries say.

"Due to unfavorable market conditions in commodity markets, a drop in prices, a reduction in physical volumes of supplies in 2016, our mutual trade turnover has declined. I must say that in accordance with the agreement on the long-term trade in strategic goods signed in 2009, we are exporting such strategic materials to China as natural gas, uranium, copper, cotton fiber, mineral fertilizers, as well as supplying cotton yarn, plastic products, food production, mechanical equipment and other demanded products," - said the head of MFERIT.

Currently, Uzbekistan has 704 enterprises with Chinese investments, including
88 with 100% foreign capital. In addition, 73 companies from China are operating in the republic.
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