Business circles of Uzbekistan and Malaysia discuss development of trade and economic relations
01/11/2018 20:35
Business circles of Uzbekistan and Malaysia discuss development of trade and economic relations
01/11/2018 20:35
Tashkent, Uzbekistan (UzDaily.com) -- The Uzbek-Malaysian Business Forum and Cooperation Exchange (B2B) was organized in Tashkent on 1 November 2018 with the participation of the business circles of the two countries, the press service of the Ministry of Foreign Affairs of Uzbekistan said.
The purpose of this event is the further development of bilateral trade, economic and investment cooperation between Uzbekistan and Malaysia through the implementation of promising investment projects and an increase in exports of Uzbek products to Malaysia.
Heads of diplomatic missions of both countries, representatives of a number of ministries and departments of the republic, as well as 12 Malaysian and 70 Uzbek companies took part in the event.
During the event, the Malaysian side was informed in detail about the favorable conditions created in Uzbekistan for doing business, the ongoing large-scale economic reforms, the activity of free economic zones, the trade and economic potential of the country and its individual regions.
In the framework of the business meeting, the issues of building partnerships between the business circles of the two countries were discussed.
Representatives of the Malaysian business praised the reforms undertaken by the President of the Republic of Uzbekistan Shavkat Miriziyev to liberalize and diversify the country’s economy and expressed great interest in further strengthening cooperation with Uzbekistan, in particular by organizing export deliveries of fruits and vegetables to Malaysia and implementing promising investment projects.
It was also noted that the Uzbek-Malaysian business forum will create an opportunity for the exchange of experience and opinions between the business circles of the two countries.
It should be noted that for the period January-September 2018, exports of products from Uzbekistan to Malaysia increased by 2.7 times compared with the same period of the previous year. Currently, 16 enterprises with Malaysian capital are registered in Uzbekistan.
At the end of the business forum, agreements were reached:
- on opening a representative office of an Uzbek company in Malaysia for export of manufactured products;
- on the creation of an Uzbek-Malaysian joint venture in the Tashkent region for production of building materials;
- consider the possibility of implementing an investment project on the organization of the production of juice and special additives in the food industry;
- on shooting of a film in Bukhara and Khorezm regions until the end of 2019;
- on signing a cooperation agreement on the provision of joint logistics services and the sale of containers to the Malaysian side for the carriage of cargo;
- on organization of the next business mission of Malaysian business circles to Uzbekistan, led by the leadership of MATRADE in the first half of 2019.
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