Thursday, 13 December 2018 11:21 GMT
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Uzbek, Malaysian business circles mull dev't of trade and economic relations



(MENAFN - Trend News Agency) Baku, Azerbaijan, Nov. 2

Trend:

The Uzbek-Malaysian Business Forum and Cooperation Exchange (B2B) has been recently organized in Tashkent, the Uzbek Foreign Ministry said in a message.

According to the message, the business circles of the two countries participated in the forum.

The purpose of the event is further development of bilateral trade, economic and investment cooperation between Uzbekistan and Malaysia through the implementation of promising investment projects and an increase in export of Uzbek products to Malaysia.

Heads of diplomatic missions of both countries, representatives of a number of Uzbek ministries and departments, as well as 12 Malaysian and 70 Uzbek companies took part in the event.

During the event, the Malaysian side was informed about the favourable 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 regions.

The issues of establishing partnership relations between the business circles of the two countries were discussed during the business meeting.

Malaysian businessmen appreciated the reforms undertaken by President of Uzbekistan Shavkat Mirziyoyev to liberalize and diversify the country's economy and expressed great interest in further strengthening of cooperation with Uzbekistan.

During the meeting it was stressed 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.

In January-September 2018, exports of products from Uzbekistan to Malaysia increased by 2.7 times compared to the same period of 2017. Sixteen enterprises with Malaysian capital have been registered in Uzbekistan.

Following the business forum, several agreements were reached.

Among them are an agreement on opening a representative office of an Uzbek company in Malaysia for export of manufactured products; an agreement on the creation of an Uzbek-Malaysian joint venture in the Tashkent region for production of building materials; an agreement on the implementation of an investment project on the production of juice and special additives in the food industry.

An agreement on shooting of a film in Bukhara and Khorezm regions until the end of 2019; an agreement on signing a cooperation agreement on rendering joint logistics services and the sale of containers to the Malaysian side for the transportation of cargo; an agreement on organizing the visit of Malaysian business circles to Uzbekistan, led by the management of Malaysia External Trade Development Corporation (MATRADE) in the first half of 2019 were also signed.

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Uzbek, Malaysian business circles mull dev't of trade and economic relations

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