Uzbek-Chinese business forum held in Karakalpakstan

Karakalpakstan hosted an Uzbek-Chinese business forum. In the framework of this forum, a number of agreements were reached with leading Chinese companies on the implementation of long-term projects for the production of building materials.

Today, the cooperation of Uzbekistan with the People’s Republic of China covers almost all aspects of bilateral relations. During the Uzbek-Chinese business forum, it was emphasized that an important place is allotted to trade-economic and investment cooperation.

The forum was organized under the auspices of the Embassy of Uzbekistan in China. It is worth noting that in our country, a number of projects are being implemented with the participation of the PRC representatives. Only in Karakalpakstan, there are 39 enterprises with the participation of Chinese investors. Their foreign trade turnover is over $ 124 million as of October 1, 2018.

As noted at the forum, “Kungrad” Soda Plant is one of the leaders in the area. It was built with the participation of Chinese partners. Today, the cooperation is reaching a new level. Only in the last 9 months of 2018, 8 new enterprises have been formed.

Issues of increasing the investment potential was discussed in the forum, also, it was spoken about tax and customs preferences. There were suggestions on the implementation of new joint projects in the trade industry, pharmaceuticals, agriculture and tourism sectors.

The parties agreed that the business forum held was an important step towards strengthening mutually beneficial cooperation.

“I have been cooperating with Uzbekistan for many years. The most favorable conditions and opportunities for doing business are created here. 100% of products manufactured at our enterprise are exported. We would like to implement other promising projects in the chemical industry, because Karakalpakstan possesses a rich flora, minerals, and natural resources. This potential should be realized. During the past period, we have become so friendly with the local population that I feel like at home here. We easily communicate in Karakalpak language, which indicates friendly and trusting relationships. That is important for business,” Zhou Haigou, head of the joint venture “Lanextract” said.

The Chinese side also noted the effectiveness and advantages of the cluster method, which is today being implemented in various fields in our country. According to the Chinese partners, thanks to ongoing reforms and transformations, Uzbekistan is opening up to the world more and more.

“We are very pleased with the positive changes in Uzbekistan that are attracting investors from all over the world. Our cooperation has reached a new level. In my opinion, Karakalpakstan has all the possibilities and potential for entering not only the Chinese, but also the world market. In turn, we are ready to provide the necessary assistance,” Kao Youbo, director of the Beijing Triumph joint venture said.