(MENAFN- The Peninsula) The Peninsula
Doha, Qatar: Within the framework of the recently observed international efforts between the governments of the State of Qatar and the Republic of Uzbekistan with regards to the signing of a number of agreements and memorandums of understanding regarding the encouragement and protection of mutual investments between two countries, and subsequent commercial cooperation memorandums between the Qatari Ministry of Trade and Industry and the Uzbek Ministry of Investment, Industry and Trade.
In this regards the Qatari businessmen's support to this initiative were fruitfully contributing to implementation of the ambitions and visions of the two brotherly countries.
In this auspicious initiative, Fitco Detergents Factory took the inspiring step in the drive of investments between Qatar and Uzbekistan, where a delegation from the Fitco Factory headed by Dr. Khaled Mohammed Al Buainain, Chairman of the Board of Directors, held a joint meeting with the Uzbek Minister of Trade and Industry, during which they discussed ways to strengthen ties between local companies and factories with Uzbekistan's business houses and develop the import and export between two countries by developing flawless mechanisms for business transactions, that would enhance the local manufacturing movement and development and Exports.
In this context, Dr. Khaled Al Buainain expressed the possibility of the initial MoU were agreed upon with the Uzbek Minister of Trade and Industry, It observed that Qatari-Uzbek bilateral relations are
witnessing a remarkable development through mutual visits of the highest levels delegation, we as a Qatari manufacturer, will play vital role in order to accomplish this collaboration with a great success and to open horizons for a trade cooperation between the two countries.
Alongside the meeting, several other meetings were held with companies and business consultants from Uzbekistan, where it was agreed to implement export operations of Qatari expertise, establish franchisees and joint venture partnerships for the detergent manufacturing sector in the Uzbek market with Uzbek investments, and introduce the top-quality Qatari detergent product.
As a result of these meetings, it was agreed to launch the three Qatari brands (Bubbly, Bright White, and Class) to Uzbek market, which is considered a promising and new market for Qatari products, and thus to market this opportunity through intermediaries to other Uzbek companies that emulate this experience and help spread the Qatari product in the Uzbek market so that We reach three franchise agreements through three local Uzbek companies.
In this context, Dr. Khaled Al Buainain, Chairman of the Board of Directors of the Fitco Detergents Factory, said that it was agreed to export Qatari expertise in terms of product formulation, manufacturing, and the technical knowhow in exchange for a reasonable fee, which will help launch our national detergent industry efficiently.
He added that in Uzbek market the presence of the Qatari detergents' producer through this mechanism will enhance the reputation of local production, especially since it is considered the first of its kind in that region, and therefore we are keen to support this reputation at the international level.
As an initiative by the Fitco Detergents Factory to make this experiment a success, it was agreed that Fitco would contribute to a portion of the costs of some services and facilities from technical, administrative, operational and legal aspects.
Regarding the detergent market between the two countries, Dr. Al Buainain revealed Uzbek investment reports obtained from the Uzbek delegation that confirm the growing interest of companies operating in Uzbekistan in the detergent sector by positioning the Fitco factory as an ideal Qatari model for the Uzbek market, with the guarantee by Uzbek investors of Qatar's appealing investment destination for detergents in the region and as an export base towards global markets interested in these products.
Dr. Khaled Al Buainain confirmed that he noticed that investors in Uzbekistan were convinced of the Qatari performance, especially in light of the partnerships announced by Qatar in the recent period and the subsequent results of the Qatari success during the World Cup and Expo currently.
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