China, Uzbekistan set target to boost bilateral trade to $30 billion

China and Uzbekistan have agreed to boost bilateral trade to $30 billion in the coming years, the Uzbek president's office said Monday.

The agreement was reached during a meeting between Chinese President Xi Jinping and his Uzbek counterpart, Shavkat Mirziyoyev, on the sidelines of the Shanghai Cooperation Organization summit in Kyrgyzstan's capital, Bishkek, the statement added.

Last year, bilateral trade between the two countries reached $18 billion.

The portfolio of ongoing joint investment projects has reached around $60 billion, while more than 6,000 joint ventures operate in Uzbekistan.

The two leaders discussed ways to bolster trade, economic, and investment cooperation and expressed confidence that bilateral trade will continue to grow.

To this end, they agreed to continue efforts to increase mutual supplies of industrial and agricultural products and promote the participation of Uzbek enterprises in trade exhibitions in China.

The two leaders supported continuing the systematic Strategic Dialogue between the two countries’ foreign ministries and further deepening inter-parliamentary ties.

They identified promising areas for cooperation, including energy, the chemical industry, metallurgy, construction materials, food production, transport, infrastructure, agriculture and high technology.

They also agreed to develop new growth areas in the digital economy, mining, and the development and processing of mineral resources.

Uzbekistan reaffirmed its unwavering support for the “One China” policy and its commitment to consistently combating the “three forces of evil.”

Next year, the two countries will mark the 35th anniversary of the establishment of diplomatic relations.

Xi also met with Mongolian President Ukhnaa Khurelsukh, according to Beijing-based Xinhua News Agency.

The Chinese leader said Beijing is ready to work with Mongolia to foster new areas of growth, pursue mutually beneficial cooperation and advance hand in hand along their respective paths of modernization.