The first Uzbek-Chinese interregional forum was held in Urumqi

The Uzbek delegation at the Forum was headed by Deputy Prime Minister of the Republic of Uzbekistan Zhamshid Khojaev, and the Chinese delegation was headed by Ma Xingrui, a member of the Politburo of the CPC Central Committee, secretary of the Party Committee of the CPC of the Xinjiang Uygur Autonomous Region.

Delivering a welcoming speech, the heads of delegations noted the entry of bilateral relations between our countries into a qualitatively new stage of interaction, which became possible thanks to the wise, far-sighted policies of the Heads of the two states.  Significant progress has been achieved in almost all areas of multifaceted cooperation; the parties perceive each other as reliable and time-tested comprehensive strategic partners.

The positive dynamics of trade and investment partnership were emphasized.  Over the past six years, trade turnover has doubled and exceeded the $14 billion mark.  It was noted that all the necessary capabilities are available to achieve this indicator up to $20 billion in the coming years.  The volume of utilized Chinese investments amounted to almost $15 billion.  More than 2,000 enterprises with the participation of Chinese capital operate successfully in Uzbekistan.  In 2023, more than 60 projects worth almost $2 billion were successfully launched with the participation of Chinese companies.

Chinese companies are becoming leading partners in modernizing the country's industrial sector.

The attention of the participants was focused on the reforms carried out in Uzbekistan to improve the investment climate and create comprehensively favorable conditions for the implementation of investment projects.  In particular, a number of permits and licenses have been abolished, measures have been taken to ensure the inviolability of private property and the protection of the rights of investors, foreign investors are exempt from taxes for a period of three years on dividends received from their shares, customs duties on raw materials and goods for more than 7 (  seven) thousand items, a program for the privatization of large banks, industrial and infrastructure facilities was launched, an Industrial Development Fund with a capital of $1 billion was created to finance projects for the production of high-tech products.  “Industrial mortgage” was introduced.  As a result, over the past six years, the volume of GDP has grown by more than one and a half times, the number of enterprises has doubled, industrial growth has exceeded 40 percent.  In 2023, the country received $22 billion in foreign direct investment.

Further steps and promising directions for increasing cooperation between the two countries were outlined, including through direct interaction between regions and representatives of the business community.  In this context, the importance of their involvement in the implementation of joint initiatives, establishing a mechanism for regularly holding exhibitions of the industrial and agricultural potential of the regions of Uzbekistan and the provinces of China, as well as constant joint monitoring of the effectiveness of the implementation of the agreements reached, was emphasized.

The heads of delegations called on business leaders to step up efforts to create high-tech industries based on the competitive advantages of the economies of our countries, develop industrial cooperation to produce in-demand products and jointly develop new markets, as well as increase the volume of mutual trade relations.

The forum continued with a session of “B2B” and “B2G” negotiations, during which heads of companies from the two countries were able to discuss details and conclude new mutually beneficial contracts and agreements in various sectors of the economy.

As a result of the forum, 27 documents were signed on the establishment of strong economic, trade and cultural ties between all regions of Uzbekistan and the corresponding provinces of China.  In addition, a solid package of 30 agreements and contracts was signed between the business communities of the two countries.

Another significant event also took place on the sidelines of the interregional forum.  Opening of the exhibition of Uzbek products “Made in Uzbekistan” at the Xinjiang International Convention & Exhibition Center at the Xinjiang International Convention & Exhibition Center.

At 14 stands with a total area of   800 square meters, popular products from the electrical, pharmaceutical, textile and sericulture industries, leather and footwear products, food, and household chemicals are exhibited.

Promising investment projects ready for joint implementation were presented to the guests of the event on multimedia screens along with the economic potential of the regions.