Uzbekistan, Malaysia Expand Business Links To Tap ASEAN Markets

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 24. The Economic Assembly of Uzbekistan signed a memorandum of cooperation with the Malaysian Empowerment Business Council (MEBC) aimed at expanding exports to the ASEAN market, which has a population of over 680 million people, on Sep. 22.

This was reflected in the statement by Uzbekistan's Economic Assembly.

The agreement is expected to strengthen direct contacts between businesses in Uzbekistan and Malaysia and create opportunities for Uzbek companies to access markets across Southeast Asia.

The Malaysian market provides a potential gateway to the broader ASEAN market of more than 680 million people, according to information provided by the Uzbek side. The cooperation is expected to support the promotion of Uzbek-made products in Southeast Asian markets and facilitate new commercial partnerships.

“The memorandum creates a platform for direct business-to-business cooperation, opening new opportunities for Uzbek entrepreneurs to enter Southeast Asian markets and develop joint projects with Malaysian partners,” the Economic Assembly of Uzbekistan said.

The sides also identified Malaysia's experience in Islamic finance, the halal industry and digital technologies as areas of potential knowledge and business exchange.

The memorandum is expected to facilitate direct B2B contacts between private-sector companies, including through business meetings, investment discussions and the development of joint ventures.

Potential cooperation in these areas could provide Uzbek companies with access to Malaysian expertise and technologies while creating opportunities for Malaysian businesses to expand their presence in Uzbekistan and other Central Asian markets.

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