The trade war between the United States and China will have limited affect on the countries of Central Asia, the Minister of Economy and Industry Botir Khodjayev said.

“What is happening now will in no way affect China’s investment policy in Central Asia. The volume of investments will continue, because China has its own interests here,” Khodjayev noted. 

He stated that the economy of China is “very powerful”, so powerful that such trade wars cannot “damage” its relations with the region. 

“I can firmly say that even if we see a devaluation of the yuan, or even a decline in exports, it will not greatly affect our foreign economic activity,” the Minister added.

The trade war between the US and China began in 2018, after it was announced that the US trade deficit with China in 2017 reached a record figure of $375.2 billion. The United States accused Beijing of unfair competition and manipulation of the yuan. The parties exchanged mutual restrictions on imports.

In addition, Donald Trump has banned US companies to cooperate with the Chinese corporation Huawei. The company was suspected of having links with Chinese intelligence services, who allegedly received data about users. Huawei’s estimated losses from Washington’s actions amounted to $30 billion.