Uzbekistan, Singapore Explore New Avenues For Trade And Investment Expansion

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, June 21. Uzbekistan's Deputy Foreign Minister, Muzaffar Madrahimov, held a meeting with the Extraordinary and Plenipotentiary Ambassador of Singapore to Uzbekistan, Zulkifli Baharuddin, Trend reports, citing the Ministry of Foreign Affairs of Uzbekistan.

Throughout the deliberations, both parties conducted a comprehensive analysis of the existing dynamics of Uzbek-Singaporean relations and identified strategic pathways to enhance bilateral collaboration. The evaluation encompassed the advancement of accords established during elevated reciprocal engagements in 2023.

The two parties reaffirmed their dedication to amplifying political discourse, particularly through augmented collaboration within global institutions. They underscored the criticality of enhancing trade and investment synergies while expediting the execution of novel collaborative investment initiatives.

The assembly underscored the paramount importance of systematic visit exchanges and augmented inter-agency engagement to cultivate synergistic relationships across pivotal domains, including education, civil service capacity building, tourism, healthcare, and professional advancement.

In 2024, during a meeting held in Samarkand, Uzbekistan's Minister of Investment, Industry, and Trade, Laziz Kudratov, engaged in discussions with Singapore's Minister in the Prime Minister's Office and Second Minister of Finance and National Development, Indranee Rajah. The focus of the talks was on expanding trade, economic, and investment cooperation between the two nations. Over the past seven years, the bilateral trade turnover between Uzbekistan and Singapore has more than doubled, and the volume of Singaporean investments in Uzbekistan has reached nearly $1 billion.

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