Tajikistan, China mull cooperation

/By AzerNews/

By Vusala Abbasova

China-Tajikistan business cooperation will enter a new stage, Chairman of Tajikistan's Chamber of Commerce and Industry (CCI) Sharif Said said at a meeting with an economic delegation from China’s Shanxi Province, according to the TajikTA Agency.

Said mentioned that trade turnover will increase to $3 billion as a result of strengthening China-Tajikistan economic ties.

The sides discussed further prospects for cooperation in trade, investment, banking, and finance.

Said called on the Chinese side to invest in construction projects, using local raw materials and modern Chinese technologies to spur investment in Tajikistan.

He also suggested creating a joint venture on building multistory houses and tourist infrastructure, which will help develop both the local economy and strengthen ties with China.

Moreover, Chinese company Dong Ying Heli Investment and Development Co. Ltd will train Tajik specialists to operate a future oil refinery after its construction, which will commence in the Danghara free economic zone (FEZ) by late 2015.

This announcement was made recently by Lochin Fayzullozoda, the First Deputy Chairman of the State Committee of Investment and State Property Management of Tajikistan.

Fayzullozoda mentioned that according to a Tajik government decision, 70 percent of employees working at the foreign companies in Tajikistan must be Tajik citizens.

For this purpose, the Chinese company decided to send Tajik citizens to study in China, providing them with necessary theoretical and practical skills to work at the oil refinery.

Fayzullozoda also noted that the refinery project – with Chinese investment in the amount of $460 million – consists of two stages.

In the first stage, the refinery’s capacity will be 500,000 tons of crude oil per year, worth over $160 million; and in the second stage it will reach 1.2 million tons, worth over $300 million

The Chinese company has already signed contracts with partners in Afghanistan, Kazakhstan, and Russia on the delivery of crude oil to the Danghara oil refinery.

All construction work is expected to be completed by the end of 2018.