BAKU, Azerbaijan, September 16. Uzbekistan’s Uzmetkombinat and China’s Jiangsu SOHO Holdings Group signed a memorandum of cooperation as the companies seek to develop joint projects and expand collaboration in raw-material supplies, exports, logistics and investment.
This was reflected in the statement by the Uzmetkombinat, following a visit of a delegation from Jiangsu SOHO Holdings Group, led by Chairman Zhou Yun, to Uzmetkombinat, as part of efforts to advance industrial cooperation between the Uzbek steel producer and the Chinese group.
During the visit, the Chinese delegation toured Uzmetkombinat’s Casting and Rolling Complex, gaining an insight into its production operations.
The sides discussed several areas of potential cooperation, including raw-material supplies, export activities, logistics and investment projects, according to Uzmetkombinat.
The talks also focused on identifying practical areas for expanding cooperation and developing new joint initiatives.
“The memorandum creates a basis for moving from negotiations to practical cooperation and developing new joint projects in areas of mutual interest,” Uzmetkombinat said.
The visit and memorandum build on negotiations held in China in August between representatives of Uzmetkombinat and Jiangsu SOHO Holdings Group. The latest meeting was described as a practical continuation of those talks.
Under the memorandum, the sides intend to pursue prospective areas of cooperation and explore opportunities for new joint projects.
The focus on raw-material supplies and logistics could support closer coordination around industrial production and exports, while investment cooperation could provide a framework for developing additional projects between the companies.
Uzmetkombinat and Jiangsu SOHO Holdings Group will continue discussions on the areas identified during the meeting and work toward developing specific cooperation initiatives, according to the Uzbek company.
The latest agreement marks another step in efforts to establish direct business links between Uzbek industrial enterprises and Chinese companies and translate bilateral negotiations into practical projects.
