The Uzbek-Chinese business forum has started at the International Business Center today, during which it is scheduled to hold bilateral meetings of businessmen of the two countries.
The Chinese side is represented by large project and contracting concerns in metallurgy, mining, energy, infrastructure construction, transport, telecommunications, environmental protection and other fields. The Uzbek side is represented by the relevant ministries, departments and enterprises.
The largest participants of the business forum from the Chinese side include the Chinese state-owned hydropower company SinoHYDRO (a subsidiary of Power China), which provides a full range of services for major energy and infrastructure projects. Currently, it has more than 580 projects in 74 countries of the world with a total value of more than $ 40 billion.
Sinosteel Corporation carries out projects in metallurgy, mining, infrastructure construction and energy, produces equipment for large industrial facilities. The company has over 500 projects in China and over 100 in 40 countries of the world.
In the course of the forum, which will last until April 21, the parties will have been discussing the establishment of partnerships in various sectors of the economy, elaboration of issues related to implementation of new investment projects as well as parameters and sources of financing for promising areas of cooperation.
It should be noted that trade turnover between Uzbekistan and the People's Republic of China is characterized by stable growth and expansion of commodity nomenclature. Last year, the trade turnover between the two countries exceeded $ 4.7 billion. In the first quarter of 2017, the trade turnover made up $ 1.2 billion. Uzbekistan has 704 enterprises with the participation of Chinese capital, including 88 of them with 100% foreign capital, as well as 73 representations of the companies of the People’s Republic of China operate in the territory of the Republic.
This business forum is a good example of successful cooperation between the two countries and demonstrates practical results before the forthcoming official visit of the President of the Republic of Uzbekistan to the People's Republic of China in May 2017.
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