Uzbekistan
Uzbekistan is known as "within Central Asia" and is the hinterland of Asia. It borders five landlocked countries and is one of the only two "double landlocked countries" in the world.
Uzbekistan is the country with the largest population and the richest Silk Road cultural heritage in Central Asia, with numerous cultural ancient cities - Tashkent, Samarkand, Shiva, Bukhara... Its unique geographical location has made it a must pass place for east-west exchanges. The ancient Silk Road runs through it, and Eurasian cultures intersect and collide here.
"The Belt and Road" partners
2023 marks the 10th anniversary of the the Belt and Road Initiative. Over the past decade, the "the Belt and Road" initiative has always maintained strong resilience and vitality.
Since the Russia-Ukraine conflict, there have been huge market opportunities for the Eurasian Economic Union, Russia and Central Asia markets.
Uzbekistan is an important economic hub in Central Asia, and the development of China Ukraine cooperation has entered a promising period with unlimited business opportunities. In the post pandemic era, with the further opening of the door to Xinjiang's opening up and the rapid recovery of the Central Asian regional economy, it promotes the growth of bilateral trade between China and Ukraine
Over the past 30 years, the trade volume between Uzbekistan and China has increased by more than 140 times. In 2022, the trade volume between the two countries reached 9 billion US dollars for the first time. China became Uzbekistan's main trading partner in the first quarter of this year, with a total trade volume of 2.3 billion US dollars. The total investment paid by China from 2017 to 2022 was approximately 11 billion US dollars, of which 2.2 billion US dollars were paid in 2022 alone.
Key projects between China and Ukraine
Uzbekistan's participation in the "the Belt and Road" initiative has provided great opportunities for Uzbekistan's economic development and improving people's well-being.
Over the past 10 years, Uzbekistan has implemented many key "the Belt and Road" projects. Among them, the construction project of the Angren Bap electrified railway line, launched in June 2016, cost 1.6 billion US dollars, including a 123.1 kilometer railway crossing the Kanchik Pass and a 19.2 kilometer tunnel, ranking eighth in the world and considered the longest in Central Asia.
The new transportation corridor "Tashkent Andijan Osh Irkestan Kashgar" launched in 2018 only takes two days for goods to be transported from China to Uzbekistan along this new route
Under the framework of the "the Belt and Road", China and Uzbekistan are actively carrying out a number of projects and constantly strengthening cooperation in transportation infrastructure, railways, ports and other fields.
Market analysis
01 More projects and increased demand
Uzbekistan is rich in natural resources and is a country with strong economic strength in the Commonwealth of Independent States. Uzbekistan attaches great importance to the development of the building materials industry. With the economic development and increasing number of real estate projects in Uzbekistan, the demand for building materials in the market is constantly increasing, and the import volume of building materials is also gradually increasing. In recent years, Uzbekistan has imported approximately 200 million US dollars in building materials annually, including 90 varieties, such as paint, sanitary ware, ceramic tiles, insulation materials, welding rods, polymer material fittings, steel, black metal fittings, wood, medium and high density fiberboard, etc.
02 Positive policies and open markets
Uzbekistan's active industrial policy is committed to changing its structure, rapidly increasing the proportion of manufacturing, and producing high value-added products. Accelerate the development of production, transportation, and communication infrastructure. Consolidate the agricultural sector, promote new water-saving technologies, improve land production capacity and crop yields, and develop the agricultural product processing industry. Further promote economic liberalization, improve the business environment for small and private enterprises, attract foreign investment, and promote and support exports. This provides a great opportunity for foreign-funded enterprises to enter this market.
03 Important partners of the "the Belt and Road"
As a long-term important economic and trade partner of Ukraine, China has always been an important target country for Ukraine to actively engage in foreign economic and trade cooperation, and is also a source country of investment that Ukraine attaches great importance to. The prospect of jointly building the "the Belt and Road" between China and Uzbekistan is very good. China and Uzbekistan are highly complementary economically. They are optimistic about Uzbekistan's economic development prospects and are willing to look for more cooperation opportunities. Uzbekistan is not only one of the first countries to support the "the Belt and Road" initiative, but also an important country related to the "the Belt and Road" initiative. It has the geographical advantage of the center of Central Asia, which has prompted many Chinese investors to invest in Uzbekistan.
