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  • The project "Silk Road Economic Belt" in the context of long-term economic interests of Uzbekistan

The project "Silk Road Economic Belt" in the context of long-term economic interests of Uzbekistan

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Duration: May 2016 - December 2016

The project "Silk Road Economic Belt" in the context of long-term economic interests of Uzbekistan

The project "Silk Road Economic Belt of the" - one of China's initiatives, political and economic goals of which are concentrated on the creation of seven "zones": transport, energy, investment, information, scientific and technical, agricultural and tourism. The need for the formation of economic belt of the Silk Road Chinese experts specify by the realities of globalization and the increasing interdependence of the modern world. To implement the concept the Economic Belt and Marine Silk Road, Chinese government created a fund of the Silk Road, as well as the Asian Infrastructure Investment Bank.

Uzbekistan attaches priority importance to the further strengthening of strategic partnership with China, the expansion of multilateral trade and economic, investment and financial cooperation between the two countries based on the principles of mutual benefit, taking into account the interests and equality. In general, economic cooperation of Uzbekistan in the framework of the Silk Road Economic Belt is specified by two important prerequisites.

Firstly, the incorporation of Uzbekistan in the global chain of added value formation will be largely determined by the decision of existing infrastructure constraints in the field of foreign trade transportation, faced not only by Uzbekistan, but by all the countries of Central Asia. Hence the importance for Uzbekistan will become the issue of further targeted development of international transport routes.

Secondly, the structure of foreign trade turnover of Uzbekistan embraces countries involved in the Silk Road Economic Belt project has tended to increase in recent years. Uzbekistan's participation in the project is an opportunity for the diversification of direct investments and exports.

Cooperation with China should be based on the implementation of an active economic policy emanating from the long-term interests of Uzbekistan. It should take into account the risks faced by partner countries of China while China boosts its economic projects.