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China,Uzbekistan : UZBEKISTAN and CHINA ink joint strategic development for 2014-2018

August 22, 2014

Uzbekistan and China signed a joint declaration and strategic partnership development program for 2014-2018.

The documents were signed between Chinese President Xi Jinping and his Uzbek counterpart Islam Karimov in Beijing.

The negotiations between the 2 leaders discussed a wide range of issues of development of Uzbek-Chinese relations and exchanged views on regional and international issues of mutual interest.

The 2 sides agreed to strengthen political trust, continue mutual support and coordination of actions in the international arena, security cooperation. They discussed the cooperation issues as part of the Shanghai Cooperation Organization (SCO) and the development of the organization.

The current negotiations are a logical continuation of the earlier dialogue at the highest level. China considers Uzbekistan as a reliable partner. The bilateral cooperation is developed on the basis of long-term and mutual interest.

The 2 presidents discussed strengthening of direct business contacts and growth indices in the areas of trade and investment, energy, high technologies and transport infrastructure.

The 2 sides signed a number of bilateral documents aimed at developing the technical and economic cooperation between Uzbekistan and China, and strengthening the partnership in the banking and finance, energy, and high-tech industry.

Uzbekistan and China are developing cooperation in oil, gas, petrochemical, chemical and mining industries, in the fields of transport and logistics, the manufacturing industry, telecommunications, production of electrical technology and modern construction materials.

China is one of the largest trade partners of Uzbekistan. The trade between the 2 countries has increased by 6 times for the past 6 years and amounted to $5.2 billion in 2013.

Some 482 joint ventures with Chinese capital, as well as the representative offices of more than 70 Chinese companies are operating in Uzbekistan.

Uzbekistan and China are implementing the projects in the amount of $2.8 billion. Some $2.5 billion or 90 percent of this amount are direct investments.

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Source: TendersInfo (India)

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