Uzbekistan and China see substantial trade growth possibilities

TASHKENT: Uzbekistan and China note the possibility of bringing the indicator of bilateral trade turnover to $20 billion in the near future, Trend reports via the press service of the President of Uzbekistan.This was noted during a meeting between President of Uzbekistan Shavkat Mirziyoyev and President of the People's Republic of China Xi Jinping on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Astana.During the meeting, the sides noted that last year, the trade turnover between the two countries reached $14 billion.The parties noted that the current portfolio of investment projects exceeds $50 billion.It was also noted that over $3 billion in Chinese investments have been made in Uzbekistan since January, creating over 500 new joint companies.Meanwhile, the volume of Uzbekistan's foreign trade turnover with China from January through May 2024 amounted to $5 billion, which is 11.1 percent higher than in the same period of the previous year, which amounted to $4.5 billion.S ource: Trend News Agency