China will provide Uzbekistan with a credit of $2.7 billion for joint projects implementation

Almaty. July 1. Silkroadnews – China will provide Uzbekistan with a credit of $2.7 billion for joint projects implementation, Trend reports.

“Among other issues, we have signed the documents on providing Uzbekistan with a credit by China to the amount of $2.7 billion,” President of Uzbekistan Islam Karimov said speaking to the deputies and senators of the Uzbek Parliament.

Islam Karimov and Chinese President Xi Jinping spoke to the parliament members during the Chinese leader’s state visit to Uzbekistan on June 21-22. The texts of the speeches were published on the website of Uzbekistan’s ministry of foreign affairs on Thursday.

Islam Karimov noted, the credit funds will be used for the construction field with the total cost of $6.2 billion.
To remind, the joint statement on all-round strategic partnership between Uzbekistan and China along with documents providing for development of technical, economic, investment and foreign cooperation and bilateral trade boosting have been signed during Xi Jinping’s visit.

China is one of the largest trade-economic and investment partners of Uzbekistan. According to the Uzbek side, the two countries trade turnover amounted to $4 billion following the results of 2015, in January-April of this year it made $1.4 billion. Today the total volume of Chinese investment in the Uzbek economy makes $6.5 billion.

During President Islam Karimov’s visit to Beijing in August 2014 the parties signed a program for 2014-2018 development of strategic partnership relations, as well as a package of agreements to the amount of $6 billion.