Uzbekistan and China aim for $30 billion in trade turnover

Uzbekistan and China have set a goal of increasing mutual trade to $30 billion.

Tashkent, Uzbekistan – Podrobno.uz News Agency.

Uzbek President Shavkat Mirziyoyev and Chinese President Xi Jinping held talks to discuss ways to further expand trade and economic cooperation. The leaders proposed increasing trade turnover between the two countries to $30 billion in the coming years. Currently, this figure stands at approximately $18 billion.

The meeting took place in Bishkek as part of the Shanghai Cooperation Organization summit. The parties also discussed investment, industrial cooperation, energy, transport, high technology, education, and humanitarian exchanges.

To achieve this new trade goal, Uzbekistan and China plan to increase mutual exports of industrial and agricultural products. Uzbek enterprises have been encouraged to more actively participate in trade exhibitions held in China.

China already plays a significant role in Uzbekistan's economy. The portfolio of current joint investment projects is estimated at approximately $60 billion, and more than 6,000 enterprises with Chinese capital are operating in the country.

The parties now intend to expand cooperation not only in terms of investment volume but also in the number of areas. Promising projects have been identified in such sectors as energy, chemicals, metallurgy, construction and food production, transportation, infrastructure, agriculture, and high technology.

Particular growth areas are seen in the digital economy, mining, and the development and processing of mineral resources. Chinese companies have been invited to more actively participate in the creation of production facilities in joint industrial zones located in the regions of Uzbekistan.

One striking example of technological cooperation is the project with the Chinese company BYD to produce electric vehicles. The parties expressed support for the further expansion of production capacity and increased localization.

The energy partnership will also continue. Uzbekistan is interested in engaging Chinese companies in projects in traditional and alternative energy, as well as in initiatives related to peaceful use of nuclear energy. Interest in expanding cooperation with leading Chinese financial institutions was also noted.

Transportation remains another important area. Uzbekistan, China, and Kyrgyzstan are continuing to implement the strategic China-Kyrgyzstan-Uzbekistan railway project. During the talks, it was emphasized that the new route is intended to strengthen regional connectivity and become a key link in the Eurasian transport infrastructure.

At the same time, ties between the regions of the two countries are expanding. All regions of Uzbekistan are interacting with Chinese provinces and implementing joint projects. The third forum of regions was held in Xi'an in May.

There are also plans to develop humanitarian contacts. Uzbekistan and China already have a visa-free regime, and the parties are currently discussing expanding air travel and increasing the frequency of flights between the two cities.

In the field of education, plans are underway to continue the work of the Lu Ban Workshops and Confucius Institutes, expand inter-university programs, and expand joint educational projects in the regions. Uzbekistan is also interested in increasing quotas for its youth to study in China and further promoting the study of the Chinese language. In the cultural sphere, Days of Uzbek Culture are planned for China by the end of the year. Furthermore, the parties intend to prepare a program of cultural events for 2027–2029 and continue work on opening Cultural Centers of Uzbekistan and China.

New opportunities for cooperation are also seen in space exploration, an area the two sides identified as promising for further collaboration.

Political contacts are also planned to be strengthened. Uzbekistan and China agreed to continue the strategic dialogue between their foreign ministries and develop interparliamentary ties. Uzbekistan reaffirmed its support for the "one China" policy.

Next year, the countries will celebrate the 35th anniversary of the establishment of diplomatic relations. In this regard, Mirziyoyev and Xi Jinping proposed preparing a separate program of events for this anniversary. The leaders also discussed the "China-Central Asia" format and preparations for its third summit, which will be held in China next year.

Following the talks, Shavkat Mirziyoyev invited Xi Jinping to visit Uzbekistan.