SHANGHAI, Jan. 23 (Xinhua) -- The Uzbek Republican Commodity Exchange, or UzEx, the biggest trading platform in Central Asia, has opened a branch in Shanghai to promote trade between Uzbekistan and China, China Daily reported Tuesday.
The branch, located in the National Exhibition and Convention Center, the venue for the annual China International Import Expo, was launched Tuesday.
The branch has 10 trading seats and will provide spot transaction to domestic buyers for commodities traded at UzEx, including metals, crude oil, products, cotton and construction materials.
The opening of the new branch will facilitate mutual access for entrepreneurs and producers to the commodity markets of the two countries according to market mechanisms, said Farokhidin Ibragimov, chairman of the board of UzEx.
This is the second branch of UzEx in China. UzEx opened its first branch in Kuitun, Xinjiang Uygur Autonomous Region in 2010.