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Uzbekistan, China see record-breaking trade growth, fivefold investment increase

Baku. TurkicWorld:

The trade turnover between Uzbekistan and China in 2022 increased by 20 percent, reaching a record-breaking $9 billion, TurkicWorld reports via the Ministry of Investments and Foreign Trade of Uzbekistan.

This was confirmed during the Uzbek-Chinese Business Forum held in China's Xi'an, preceding the official visit of the President of Uzbekistan Shavkat Mirziyoyev. Over 400 major Chinese companies interested in establishing cooperation with Uzbekistan have participated in the event.

The consistent growth in trade, economic, and investment relations between the two countries was emphasized. Furthermore, the both sides have set a specific target to raise this figure to $10 billion this year through joint efforts and coordinated actions.

Stable growth is also observed in the investment sphere. The total volume of Chinese investments in Uzbekistan since 2017 has increased fivefold, reaching $11 billion. In 2022 alone, $2.2 billion of Chinese investments were implemented. At the same time, the number of joint ventures in Uzbekistan has tripled in the past five years.

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