Businesses of Uzbekistan and Malaysia hold talks in Tashkent

The meeting was aimed at discussing perspective directions of bilateral cooperation in construction of houses, roads, energy and trade spheres, the Chamber of Commerce and Industry of Uzbekistan said.

The Malaysian delegation included member of the board of directors of Bina Puri Holdings Berhard Tan Sri Ti Hok Seng, head of the project of this compant Tau Fuk Yen and director-general of Ba Urus Bina Sdn Bhd Hadji Bahari Abdulla.

At the meeting, the sides considered issues of developing trade-investment cooperation between business circles of Malaysia and Uzbekistan.

According to the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan, trade turnover between two nations made up US$79.656 million (+26%) in 2012, of which exports reached US$36.756 million (+21%) and imports – US$42.9 million (+30).

Trade turnover between Uzbekistan and Malaysia hit US$28.4 million in January-April 2013. Uzbekistan’s exports reached US$5.4 million and imports – US$23 million.

Uzbekistan mainly exports services (46.5%) and chemical goods (51.4%) to Malaysia and imports food products (49.8%), services (27.5%) and equipment (4.3%). Malaysia holds 34th place in Uzbekistan’s turnover.

The volume of Malaysian investments within the state investment programme since 2006 made up US$225.95 million.

Currently there are 22 enterprises with Malaysian investments in Uzbekistan, of which five are companies with 100% Malaysian capital. They work in such areas as oil and gas, textile industry, furniture, electronics, financial services, etc.