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NEWS

China to increase investment in Uzbekistan

www.worldbulletin.net/
3 September 2013

One of the important agenda items of negotiations with the leadership of Uzbekistan during the upcoming state visit of Chinese President Xi Jinping will be the exchange of views on expanding business and primarily direct investment cooperation, the Ambassador of China to Uzbekistan Zhang Xiao told the country's journalists.

He denied reports of some media outlets that China wants to 'freeze' its investment in Uzbekistan.

The scale of China's financing and crediting in Uzbekistan will only be increased, the diplomat noted.

According to him, Uzbek-Chinese economic and trade cooperation has been developing dynamically in the past 21 years since the establishment of diplomatic relations between the countries. Trade turnover between the two countries has now increased 50 fold compared to the early years of diplomatic relations. Just in the first seven months of 2013 it grew by 60 per cent to $2.54 billion which is equal to the level of 2011.

The ambassador stressed that the trade and economic relations of the two countries are exclusively equitable and mutually beneficial. Their fruitful development brings real benefits to both countries. There is no subjective or objective reason to slow down or even 'freeze' China's investments in the Uzbek economy, he noted.

As reported, Chinese President Xi Jinping will make his first visit to Uzbekistan during the first 10 days of September.