Uzbekistan, China Target $20 Billion Annual Trade Through Expanded Cooperation

Uzbekistan and China have set plans to increase their annual trade turnover to $20 billion by expanding supplies and achieving a balanced flow of exports and imports.

On September 2 in Beijing, Uzbek President Shavkat Mirziyoyev met with Premier of the State Council of China Li Qiang to discuss deepening bilateral cooperation, The Caspian Post reports via the press service of the Uzbek president.

“The sides discussed expanding multifaceted practical cooperation, primarily in trade and economic, financial and investment, and humanitarian spheres. Last year, trade between Uzbekistan and China reached $14 billion, with potential to increase to $20 billion. In this context, it was proposed to establish a Center for Quantum Metrology and a Regional Center for Industrial Standardization in Uzbekistan,” the statement said.

The joint investment portfolio between the two countries exceeds $60 billion. During the visit, both sides agreed on a series of new projects in green energy, chemistry, geology, deep processing of rare earth metals, coal chemistry, digitalization of transport infrastructure, agriculture, and agrivoltaics.

An Uzbek-Chinese Center for Artificial Intelligence Development was also launched. Officials highlighted collaboration with leading Chinese banking and financial institutions, as well as progress on the Uzbekistan-Kyrgyzstan-China railway project.

The leaders additionally emphasized expanding air connectivity and promoting tourism exchanges. President Mirziyoyev concluded the meeting by inviting Li Qiang to pay an official visit to Uzbekistan, further strengthening bilateral ties.