A delegation comprising the Overseas Chinese Federation and emerging entrepreneurs from Suxi town in Yiwu, a county-level city in Jinhua, Zhejiang province, recently visited Kyrgyzstan and Uzbekistan to expand market reach and business opportunities while enhancing international market connections.
In Bishkek, the capital of Kyrgyzstan, the delegation participated in the inauguration of the Central Asia Yiwu General Chamber of Commerce and talked with local business representatives from China and Kyrgyzstan.
Over the years, Yiwu entrepreneurs have been fearlessly venturing into Central Asia. Over 200 people from Yiwu have invested and worked in various sectors in the region, such as small commodities, apparel, cosmetics, electronics, e-commerce, and hotels.
The Abu Saxiy Market in Uzbekistan serves as a key hub for Yiwu merchants and products. The market's large size and bustling activity impressed the delegation.
Hu Guanlong, chairman of the Overseas Chinese Federation in Suxi, has been doing business in Central Asian countries for over 20 years. Two years ago, he set up a garment fabric shop in the market and has since become a key distributor.
"In recent years, under the Belt and Road Initiative, cooperation in various fields between Central Asia and China has deepened. Yiwu has also launched the Yiwu-Xinjiang-Europe train directly to Tashkent, greatly facilitating the trade cooperation," said Hu. "Many of the goods here arrived via the train."
Under the Belt and Road Initiative, collaboration between Yiwu and Central Asian countries has yielded significant results. From 2013 to 2023, Yiwu's trade with Central Asian countries witnessed a remarkable surge to 7 billion yuan ($982.78 million), a 16.6-fold increase.
From January to July this year, Yiwu's trade with Central Asian countries exceeded 5.86 billion yuan, continuing a trend of rapid growth.
