Uzbekistan-China Business Forum opened today in Tashkent’s International Business Center. The Chinese side is represented by large design and contractor groups specializing in metallurgy, mining, power, infrastructure construction, transport, telecommunications, environmental protection and others. The Uzbek side is represented by the relevant ministries, agencies and enterprises.
The state-owned SinoHydro, a subsidiary of Power China, is among the participants of the forum. The company provides a whole range of services for major power and infrastructure projects. Currently its portfolio includes over 580 projects in 74 countries of the world, totaling over US$ 40 billion.
Sinosteel Corporation specializes in metallurgy, mining, infrastructure construction, power and produces equipment for large industrial facilities. The company has over 500 projects in China and over 100 projects overseas.
During the business forum, which will run until April 21, the parties will discuss building of partnerships in various economy sectors, implementation of new investment projects, the parameters and sources of funding for promising cooperation areas.
It should be noted that the two-way trade turnover between Uzbekistan and the People's Republic of China has been steadily growing. According to the then MFERIT, in 2016 the trade turnover between the two countries reached US$ 4.7 billion. In Q1 of 2017, the turnover exceeded US$ 1.2 billion.
This business forum is a good example of successful cooperation between the two countries and demonstrates practical results before the upcoming official visit of the President of Uzbekistan to the People's Republic of China in May 2017.