(Yicai Global) May 19 -- There are broad prospects for collaboration between China and Central Asian countries in economic, trade, security and humanitarian areas, which will be supported by China's stable relationship with its East Asian neighbors, experts said.

China is the largest trade and investment partner of the five Central Asian countries, Kaszakhstan, Kyrgyszstan, Tajikistan, Turkenistan and Uzbekistan, and there is a lot of room for co-operation in fields such as clean energy, especially in hydro resources, said Ma Bin, associate researcher at the Institute of International Studies at Fudan University,

There are already quite a few Chinese firms involved in the construction of hydroelectric projects in Tajikistan and Kyrgyzstan, Ma said at the ongoing China-Central Asia Summit being held in Xi’an, central Shaanxi province.

There are plenty of opportunities for tie-ups in the wind, solar and energy storage sectors, said He Zhenwei, president of the China Overseas Development Association. Uzbekistan has over 300 days of sunshine per year so it particularly suits the development of the photovoltaic industry.

The Uzbek government has introduced tax incentives and long-term development plans in renewable energy, and China has the technology and financial strengths that Central Asian countries need, He added.

There have been many important collaborations between China and Central Asia in the past few years, said He, who has been following the relationship closely. And all of these projects provide a strong foundation for local economic development, employment and industrialization.

For example, China Nonferrous Metal Industry built the first electrolytic aluminum plant in Kazakhstan, Gezhouba Cement set up a high-grade cement facility in the Central Asian country and Jianghuai Automobile built an automotive assembly factory there, filling gaps in the industrial landscape.

Once the China-Kyrgyzstan-Uzbekistan railway is completed, it will be the shortest freight route from China to Europe and the Middle East, reducing the distance of the route through Russia by 900 kilometers and slashing the travel time by seven to eight days, He said.

The digital economy is another new growth point for bilateral trade in the future, Ma added.

Last year was the 30th anniversary of diplomatic relations between China and the five Central Asian nations, and the value of trade between the two regions has surged 152 times over the period to an all-time high of USD70.2 billion in 2022.

Editor: Kim Taylor