Uzbekistan Eyes Greater Role In Belt And Road Through China Eximbank Support

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, June 19. Expanding cooperation within the framework of the Belt and Road Initiative (BRI) was a central topic during a recent meeting between Uzbekistan's Deputy Minister of Economy and Finance, Ilhomjon Umrzakov, and a delegation led by Chen Huaiyu, Chairman of the Export-Import Bank of the People's Republic of China (China Eximbank), Trend reports.

The discussions focused on new proposals aimed at supporting local enterprises and increasing capital investment in Uzbekistan's manufacturing sector. These initiatives are part of broader efforts to strengthen economic ties between Uzbekistan and China, leveraging the opportunities presented by the BRI to foster sustainable industrial development.

The meeting, attended by senior officials from both Uzbekistan's Ministry of Economy and Finance and China Eximbank, also addressed the financing of joint projects in key infrastructure sectors, including hydropower, transportation, and telecommunications. Both parties reviewed the progress and future prospects of public-private partnership (PPP) initiatives, underscoring their shared commitment to sustainable and inclusive economic growth.

The Chinese delegation lauded Uzbekistan's enhanced sovereign credit ratings and expressed approval of the administration's continuous reform initiatives designed to cultivate a more conducive investment ecosystem and stimulate augmented foreign direct investment influx.

At the terminus of the assembly, both parties reached a consensus to perpetuate systematic dialogues and enhance synergies in pivotal domains, including macroeconomic fluctuations, infrastructural advancements, capital mobilization, and sustainable fiscal equilibrium.

In the interim, the bilateral commerce nexus between Uzbekistan and China eclipsed the $13 billion threshold in the preceding fiscal cycle, with both nations reiterating their dedication to realizing the aspirational $20 billion trade objective delineated by their sovereign leaders.

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