China holds forum on trade, cooperation with Central Asian countries

China's Ministry of Commerce is willing to join with economic and trade authorities of the five Central Asian countries — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan — to further propel economic and trade cooperation, Commerce Minister Wang Wentao said.

Wang made the remarks at the China-Central Asia economic and trade cooperation forum, held via video link on Monday as this year marks the 30th anniversary of diplomatic ties between China and the five Central Asian countries.

In the past three decades, China and the five Central Asian countries have been deepening pragmatic cooperation in economics and trade. They have established comprehensive, energetic and mutually beneficial economic and trade ties, Wang said.

China's trade value with the five countries has surged by more than 100 times in the past three decades, the stock of outbound direct investment from China to the five countries has exceeded $14 billion and many major products have been implemented to help with industrial upgrades, interconnection construction and improving people's livelihoods, according to Wang.

Participants from the five Central Asian countries spoke highly of the fruitful results of economic and trade cooperation between China and their countries.

They said the world economy is facing many uncertainties and all parties should join together to cope with the challenges to contain the pandemic, accelerate economic recovery and contribute more to multilateral and bilateral economic and trade cooperation and regional peace and stability.

The five Central Asia countries are willing to work with China to strengthen the connection between the joint construction of the Belt and Road Initiative and their development strategies, to facilitate implementing more cooperation projects and help with the economic and social development of all countries, they said.

The economic and trade authorities of the six countries released an initiative on high-quality sustainable development of China-Central Asia economic and trade cooperation during the event, which reached broad consensus on jointly expanding cooperation in areas such as trade, investment and green development.

More than 200 representatives from Chinese and foreign enterprises, business associations, financial institutions, embassies and consulates, and commerce departments of Chinese local governments attended the forum online.