First meeting of subcommittee on trade-economic and investment cooperation of the Uzbek-Chinese intergovernmental committee on cooperation took place in Tashkent on 28 March.

Minister of foreign economic relations, investments and trade of Uzbekistan and co-Chair of the Subcommittee Elyor Ganiyev noted at the meeting that cooperation between Uzbekistan and China is gradually developing in all spheres, including in the trade and economic and investment sector.

The state visit of the President of Uzbekistan Islam Karimov in April 2011 to the People’s Republic of China lifted the relationship between the two countries on qualitatively new level and it serves as an important factor for further expansion of existing possibilities of cooperation.

The most favorable mode of nation treatment operates between Uzbekistan and China in the economic sphere.

The volume of mutual trade turnover made USD 2 billion 596 million in 2011.

Some382 joint enterprises with the Chinese capital and 65 representative companies operate in Uzbekistan.

In the course of negotiations, Chinese side acquainted with the results of the consecutive reforms carried out with a view of development of economy and favorable conditions created in the free industrial and economic zone Navoi.

“Today’s meeting became one more good possibility for ensuring implementation of the arrangements reached during the meetings of the heads of our states,” said the Deputy Minister of Commerce Jiang Yaopin.

The mutual exchange of opinions concerning economic potential and possibilities of both countries also took place during the meeting, UzA informs.

The sides discussed the issues of development and implementation of joint projects, stimulations of investment, financial and technical cooperation and adjustment of direct contacts between business subjects.