Uzbek, Chinese Banks Sign Telecommunications Deal

Excerpt from report by Uzbek National News Agency website

The visiting Chinese delegation, led by the managing director of [China] Development Bank, Yu Syau Pin [name as transliterated], has had a meeting with the Uzbek deputy prime minister and director- general of the Communications and Information Agency, Abdulla Oripov, in Tashkent.

It was noted during the meeting that the agreements reached during the meetings of the heads of the two states would serve as a significant basis for boosting cooperation in all areas, including in the field of communications and information technology.

[Passage omitted: the head of the Chinese delegation praised reforms being carried out in Uzbekistan under the leadership of President Islom Karimov]

The two exchanged views on ways to develop and implement joint projects to introduce modern telecommunications technologies, produce high-tech products and train specialists.

An agreement was signed between the Uzbek joint-stock Aloqabank commercial bank and China Development Bank. In line with this document, the Chinese Huawei Technologies company will provide the joint-stock Uzbektelecom company with telecommunications equipment worth 18.3m dollars on a leasing basis.

[Passage omitted: the Uzbektelecom joint-stock company is engaged in the reconstruction of telecommunications networks in Uzbekistan.]

Aloqabank and China Development Bank also signed a memorandum on mutual cooperation. In addition to developing telecommunications [system], this project stipulates joint financing of projects in other areas as well.

(c) 2007 BBC Monitoring Central Asia. Provided by ProQuest Information and Learning. All rights Reserved.