Tashkent, Uzbekistan (UzDaily.com) -- At the initiative of the Consulate General of Uzbekistan, online negotiations were held between the Chinese company Youdi Biotech Co. Ltd. and the Agency for the Development of the Pharmaceutical Industry of Uzbekistan to establish cooperation, Dunyo news agency reports.

Youdi Biotech Co. Ltd. was established in 2010 and produces immunodiagnostic technologies and 5 privately patented new technological medical devices. Today this company supplies its products to more than 50 countries of the world, the annual turnover is US$50 million.

At the event, a presentation was made for the Chinese side of the pharmaceutical industry of our country and business opportunities created for foreign investors. Information is also given on the pharmaceutical zones created in the country, customs and tax incentives offered for the development of the industry.

In his speech, the head of the company, Li Lichin, spoke in detail about the activities of the company, as well as about the immediate plans and long-term projects that can be implemented in cooperation with enterprises in the industry of Uzbekistan. “In particular, Uzbekistan and the Central Asian market are important for us. Our company is interested in establishing joint production in your country and thus entering new markets,” said Li Lichin.

As a result of the negotiations, an agreement was reached on the preparation of a draft Cooperation Agreement between the two parties and its signing in March-April this year, as well as the implementation of joint projects in Uzbekistan.