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China, Uzbekistan to bring bilateral trade to $5bn by 2017

Wednesday, September 11, 2013 - 16:23

According to a joint declaration on the further development and intensification of bilateral relations of a strategic partnership signed by Chinese President Xi Jinping and Uzbek President Islam Karimov, China and Uzbekistan are to bring bilateral trade up to $5 billion by 2017.

According to the document, the two countries' desire to further intensify the strategic partnership, mutual interest and political will give even more dynamism to the practical cooperation in all fields of cooperation.

The parties will deliver mutual preferences in rail, air and road transportation, including transit to achieve these goals.

'The parties are sure that the rapid completion of the Uzbekistan - Kyrgyzstan - China railway construction is in the interests of all participants in this project', the document says.

While stressing that stability and security in Central Asia are closely connected with the situation in Afghanistan, the parties will also pay more attention to the future development of the situation in that country and its impact on the neighbouring countries and the region .

The sides are willing to keep close contact with the international community in the implementation of initiatives to promote the process of creating a peaceful, stable, independent Afghanistan under the UN leading role.

The declaration includes provisions on the importance of resolving the issues of the development and use of water resources in Central Asia through consultations in accordance with the generally recognised rules of international law taking into account the interests of all regional countries.

According to the document, the parties have reached an understanding on the inventory of the legal basis of bilateral relations to further expand and improve it.

The parties are sure that the agreements reached during the visit will further intensify the strategic partnership to enhance the well-being of the Uzbek and Chinese people and for the benefit of peace, stability and prosperity in Central Asia.

On Monday, Chinese and Uzbek Presidents Xi Jinping and Islam Karimov signed a treaty of friendship and cooperation between the two countries and a joint declaration on the further development and intensification of the bilateral strategic partnership during Jinping's first state visit to Uzbekistan.

In total during the visit, the two countries signed 31 documents on the joint implementation of projects with a total value of more than $15 billion in which China's financial resources will be around $7.7 billion.

Moreover, a package of documents was signed in the trade-economic, investment, cultural and humanitarian spheres following the talks.

Diplomatic relations between Uzbekistan and China were established in 1992. At present, the legal basis of bilateral cooperation consists of more than 250 documents.

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