Recently, China and Uzbekistan signed the "Joint Statement of the People's Republic of China and the Republic of Uzbekistan". Enterprises from China and Uzbekistan will jointly establish free economic zones and small industrial zones in Uzbekistan, including the "Uzbekistan- Shanghai Cooperation Organization " industrial zone, and use local raw materials to process and produce high-value-added products.
"Uzbekistan-SCO " industrial zone is mainly to attract foreign and local investment, in order to develop modern infrastructure, develop import substitution and competitive industries. The focus of industrial zone construction will include simplifying trade procedures, developing e-commerce, establishing green corridors for agricultural products such as fruits and vegetables, standardizing technical regulations and sanitation quarantine standards, and introducing paperless trade. Special tax and customs policies are implemented in the industrial zone, local currency settlement is implemented, and financial risks are reduced.
Chinese enterprises establish industrial parks in Uzbekistan
In the first half of 2022, Uzbekistan's foreign trade volume was US$24.49 billion, a year-on-year increase of 32.4%, and the trade deficit was US$24.65 billion. China is Ukraine's largest trading partner and major source of investment.
