Uzbekistan, Malaysia mull issues of trade, economic and investment cooperation

Tashkent, Uzbekistan (UzDaily.com) -- The Embassy of Uzbekistan in Malaysia together with the Federation of Malaysian Manufacturers (FMM) held a round table in Penang, dedicated to the trade, economic, investment and tourism potential of our country.

The round table was attended by the leaders and representatives of the Ministry of International Trade and Industry, the Malaysian Foreign Trade Development Corporation (MATRADE), FMM and Penang State business circles.

The Malaysian side was thoroughly acquainted with the favorable business conditions created in Uzbekistan, measures taken to support the construction of hotels, ongoing large-scale economic reforms (including monetary policy, the introduction of private ownership of land), the activities of free economic zones, trade and economic potential of the country and Khorezm region, in particular, the FEZ "Hazorasp", as well as the upcoming international investment forums in Navoi and Djizzak regions s.

Imran Radzi, Deputy Director of the regional office of MATRADE in Penang, praised the reforms, directed to liberalize the economy and improve the business climate in the country conducted by President of Uzbekistan Shavkat Mirziyoyev and expressed interest in further strengthening cooperation with Uzbekistan by organizing export deliveries of fruits and vegetables to Malaysia and implementing investment projects in different sectors of the economy.

He especially noted that the Malaysian side has high hopes for the upcoming visit of Malaysian business circles in September 2019, led by MATRADE’s leadership to Uzbekistan, which will open up new business opportunities for Malaysia and will contribute to increased trade and the implementation of promising investment projects.

FMM branch manager Eoh Ui said that Penang companies view Uzbekistan as a strategic partner of Malaysia in Central Asia for the implementation of promising investment projects. The representative of FMM noted that today our country plays a key role in the development of the regional economy. In this context, strengthening mutually beneficial bilateral cooperation with the republic is important for Malaysian business circles, which will contribute to the further expansion of Malaysian business in Central Asia.

Following the event, an agreement was reached on organizing a visit of representatives of Penang business circles to the republic to study the possibility of establishing cooperation in organizing export supplies from Uzbekistan to Malaysia and implementing promising investment projects.