OREANDA-NEWS. On June 29, 2009 President of Uzbekistan Islam Karimov received Vice Premier of China’s State Council Li Keqiang in Tashkent.

Welcoming the guest, Islam Karimov noted the relations between the two countries were developing steadily. Uzbekistan highly values the constantly developing relations with China, the head of the state said.

The Vice Premier of China confirmed that his country was interested in developing cooperation with Uzbekistan in all directions.

Islam Karimov and Li Keqiang discussed a wide range of issues of bilateral relations, as well as international and regional development.

The cooperation between Uzbekistan and China has been developing on the basis of mutual interest, respect and trust.

The heads of the two countries hold talks on a regular basis. The latest meeting of the presidents of Uzbekistan and China took place earlier this month in Russia during the Shanghai Cooperation Organization summit.

The volume of Uzbek-Chinese trade turnover in 2008 increased by almost 50% to USD 1.296 billion.

Meeting in Beijing last year, Islam Karimov and Hu Jintao pledged to raise the figure to USD 1.5 billion in 2010.

The leading companies of the two states are negotiating to increase the Chinese investments to Uzbekistan. The total cost of the projects under consideration will exceed USD 1 billion.

Today, 247 Uzbek-Chinese joint ventures are working in Uzbekistan, and their number is increasing each year.

One area of cooperation is oil and gas industry. Chinese National Petroleum Corporation is conducting geological survey works in the Aral Sea area and investment blocks in Bukhara, Khiva and Ferghana. A joint venture has been set up to produce oil on Mingbulak field in Namangan.

In 2007, the governments of the two states signed an agreement on construction of the Uzbekistan-China gas pipeline. The construction works are set to complete by the end of this year.