Tashkent, Uzbekistan (UzDaily.com) -- The Embassy of the Republic of Uzbekistan in Kuala Lumpur in cooperation with Eximbank of Malaysia and the Malaysian International Trade Association (SMITA) held a business forum on the economic and investment potential of Uzbekistan. This was reported by the press service of the diplomatic mission of Uzbekistan in Malaysia.

The event was attended by representatives of more than 20 Malaysian companies, including the leadership of the Malaysian Investment Development Authority (MIDA), the Standards Department, the Malaysian Central Bank (Negara Bank), Eximbank of Malaysia, SMITA, etc.

Within the framework of the event, the Malaysian side was informed in detail about the favorable conditions for business in the country, large-scale economic reforms (including foreign exchange policy), the activities of free economic zones, the trade and economic potential of the country and its individual regions, including Khorezm region and FEZ "Khazorasp" and others.

SMITA President Megane Soo in her speech provided information on the activities of the Association and praised the ongoing reforms in Uzbekistan to liberalize the economy and improve the business climate.

She also noted that only in 2018 SMITA has already organized two visits of representatives of Malaysian business circles to Uzbekistan to study the country’s potential and discuss issues of further development of trade and economic cooperation and to consider the possibility of implementing promising investment projects on the territory of the free economic zones of the country.

Megane Soo expressed great interest in further strengthening cooperation with Uzbekistan, in particular by organizing the export of fruit and vegetable products to Malaysia and the implementation of investment projects in the agricultural, food and other sectors of the economy.

Vice-president of Eximbank of Malaysia Baharuddin Muslim told about the bank’s activity, including about the possibility of financing export-oriented projects in Malaysia and abroad.

He also reported on the readiness of Eximbank of Malaysia to establish cooperation with the NBU and provide financial resources for the further development of medium and small business in Uzbekistan.

Following the results of the meeting, the following agreements were reached:

- the organization of a visit by the Malaysian business community in the planned business forum in the Khorezm region to study the feasibility of exporting fruit and vegetable products from Uzbekistan to Malaysia, and to consider the possibility of implementing investment projects.

- financing of US$15 million by the Malaysian Eximbank for the NBU in order to support and further develop the medium and small business of Uzbekistan.