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Trade between China and Uzbekistan sees great growth in past decade


06-23-2016 03:32 BJT

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Trade between China and Uzbekistan goes back centuries along the ancient Silk Road,  but it is really taken off in the past decade in terms of both scale and volume.

Bilateral trade between the two countries has grown from a mere U.S.$670 million in 2005 to U.S.$3.5 billion last year. China is now the Central Asian nation’s second biggest trading partner and biggest source of foreign investment.

According to official figures from Uzbekistan, China has so far devoted more than U.S.$6.5 billion in either direct investment or loans to the country. A total of 70 cooperation projects are now underway, mostly in the areas of energy, development of mining resources and light industry.

There are some 600 Chinese companies with offices registered in Uzbekistan. Meanwhile, the Central Asian nation has invested in 62 projects in China, totalling U.S.$7.8 million.

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