Chinese Vice Premier Wu Yi appealed on July 18 to both Chinese and Uzbek entrepreneurs to increase mutual investment and expand economic and technical cooperation after the bilateral relations between the two nations have entered a new stage.

Addressing a forum of Chinese and Uzbek entrepreneurs, Wu said China and Uzbekistan, as neighbors with sound political relations and complementary economies, have the privilege and necessity to expand their economic cooperation.

The establishment of friendly cooperative relations between the two countries offers a broad prospect for further economic development, Wu said.

In her speech "Creating a Mutually-beneficial and Cooperative Tomorrow for China and Uzbekistan," Wu offered four suggestions for the entrepreneurs.

First, the two countries explore the industries of each other and cooperate in those areas which are complementary. Emphasis should be put on mechanical equipment, telecommunications, household electronics, textiles, in which China has advantages, and on oil, mineral resources, cotton and other products which Uzbekistan is rich of.

Secondly, explore new ways of cooperation besides traditional ones. The two sides could cooperate in household appliances, computer, soil amelioration and agriculture while continuing to push forward the cooperation in oil and natural gas, minerals, infrastructure construction, chemical industry and power production.

Thirdly, improve trade and investment environment through strengthening coordination. The two governments create an open, transparent and safe environment for trade and investment, and provide better services and convenience to entrepreneurs of two countries.

Fourthly, sincere cooperation for common development. The Chinese side is willing to increase financial support for Uzbekistan's economic development within its capability and in line with the demand of mutual cooperation. China would also share technology and experience of management with Uzbekistan.

Uzbek Deputy Prime Minister Rustam Azimov briefed on the development of Uzbekistan's economy and its policy on trade and investment at the forum.

He said Uzbekistan is looking forward to more cooperation with China in the fields of oil, natural gas, minerals, transportation, chemical industry, farm machinery, household appliances, construction materials and tourism and welcomes Chinese investment in those sectors.

He said Uzbekistan is committing itself to economic reforms and will take measures to attract foreign investment and expand trade.

Uzbekistan will provide preferential policy to Chinese investors and create a good environment for them, he added.

Wu is here on her four-nation Central Asia tour. Before Uzbekistan, she has visited Kazakhstan, Turkmenistan, Tajikistan.

Source: Xinhua