A Memorandum of Cooperation was signed with the Association of Chinese Entrepreneurs in Uzbekistan

On May 10, 2023, a solemn ceremony of signing a Memorandum of Cooperation between the Uzbek Republican Commodity and Raw Materials Exchange and the Association of Chinese Entrepreneurs in Uzbekistan was held at the central office of the Uzbek Republican Commodity and Raw Materials Exchange. This was reported by the PR department of “UzEX” JSC.

The event was attended by representatives of over 30 Chinese companies, as well as managers, specialists and brokers of the Uzbek Republican Commodity Exchange.

As noted by Ziyoviddin Badriddinov, Chairman of the Board of JSC “Uzbek Republican Commodity and Raw Materials Exchange”, the signing of the Memorandum will contribute to the disclosure of untapped potential and opportunities to increase the volume of mutual trade between the two countries through the use of exchange trade mechanisms.

Chairman of the Association of Chinese Entrepreneurs in Uzbekistan, Mr. Cui Haibo: “Our association serves as a reliable bridge between entrepreneurs in China and Uzbekistan. We hope that cooperation with the Uzbek Republican Commodity and Raw Materials Exchange will allow us to write a new chapter in the development of trade and economic relations between our countries.”

As part of this event, the parties also exchanged Certificates of strategic partnership between the Uzbek Republican Commodity and Raw Materials Exchange and the Association of Chinese Entrepreneurs in Uzbekistan.

During the meeting, a new presentation video about the activities of the exchange was shown to the visitors of the exchange. The guests got acquainted with the latest achievements in the field of exchange trading and e-commerce, exchange tools, as well as the current state and future plans of the UZEX exchange.

As noted, the exchange ensures transparency of trade and mutual settlements, provides direct access to reliable producers, and guarantees payment and delivery of goods. Foreign companies are also exempted from paying commission fees and depositing collateral when concluding foreign trade transactions on the stock exchange.

At the end of the event, B2B negotiations were held to develop business relations between enterprises of Uzbekistan and China using exchange instruments and market mechanisms.

Currently, foreign trading platforms of the exchange are opened in the cities of Kuitun, Urumqi and Qingdao. Since the beginning of this year, transactions involving Chinese companies worth over $17.0 million have been concluded on the exchange.