Tashkent, Uzbekistan (UzDaily.com) — Today, on 30 April, the Uzbekistan–China Business Forum was held in the Chinese city of Ürümqi.

The opening ceremony was attended by delegations led by the Prime Minister of the Republic of Uzbekistan, Abdulla Aripov, and Ma Xingrui, a member of the Political Bureau of the Central Committee of the Communist Party of China and Secretary of the Party Committee of the Xinjiang Uyghur Autonomous Region.

During the forum, the heads of the delegations delivered speeches. It was noted that in recent years, relations between the two countries have been steadily strengthening, evolving into a new format of good-neighborliness and friendship, strongly supported by the warm and brotherly dialogue between the leaders of both states.

The forum underscored that such events contribute to deepening trade, economic, and investment ties and open new dimensions of partnership.

Currently, projects in energy, chemicals, mechanical engineering, textiles, construction materials, household appliances, and agricultural production are being successfully implemented in Uzbekistan in collaboration with Chinese partners.

Over the past few years, the volume of direct investment from China in Uzbekistan has increased fivefold, while the number of joint ventures has tripled.

Within the framework of the Belt and Road Initiative, construction of the China–Kyrgyzstan–Uzbekistan railway has been launched. This project holds strategic significance for the entire region. Its implementation will allow Uzbekistan to assume a key position as a logistical hub connecting East and West.

In his speech, the head of the Uzbek government noted that the Uzbek delegation included more than 250 major entrepreneurs as well as representatives from the regions of Andijan, Tashkent, Fergana, Syrdarya, and Surkhandarya.

Special attention was given to the wide-ranging reforms being carried out under the leadership of President Shavkat Mirziyoyev to improve the investment climate and create favorable conditions for business.

It was emphasized that Uzbekistan’s GDP has doubled in recent years and for the first time exceeded US$100 billion. By 2030, it is planned to increase this figure to US$160 billion.

The country has attracted over 70 billion dollars in foreign investment. More than 14 billion dollars have been secured for social and infrastructure projects from international financial institutions.

A key national goal for the next five years is to raise the share of green energy in the country’s energy balance to more than 50 percent.

Uzbekistan possesses a rich base of mineral and raw material resources, including essential types of metals. The country produces 25 million tons of high-quality fruits and vegetables annually, with exports exceeding US2.5 billion per year.

It was noted that Uzbekistan enjoys preferential trade regimes with many countries around the world.

As part of the forum, B2B negotiations were also held between representatives of the business communities of the two countries.

In addition, during the visit to China, bilateral meetings were held with executives of major companies, including China General Nuclear Power, Sichuan Jiuzhou Investment Holding Group, Xinjiang Lihua Group, the China Chamber of Commerce for Import and Export of Textiles, Shanghai Oriental Credits Industrial Development Co., Ltd, Longze Investment Group Co., Ltd, Watchman Group PTE. Ltd, as well as representatives of the Beijing University of Technology, the Chamber of Commerce for Electrical Engineering, and the China Leather Industry Association. The talks focused on expanding trade and economic cooperation.