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NEWS

Uzbek, Malaysian business circles intend to expand cooperation

28 September 2011

www.trend.az of 9/28/2011 - Business circles in Uzbekistan and Malaysia confirmed their intent to strengthen bilateral trade and economic and investment cooperation at the Uzbek-Malaysian business forum in Kuala Lumpur, "Jahon" news agency at the Uzbek Foreign Ministry reported on Tuesday.

The forum was attended by business circle representatives of Uzbekistan, major Malaysian associations, and private companies.

According to a report, during the business forum the Uzbek side provided data on economic growth of the republic and measures undertaken within the state program,

"Year of small business and private entrepreneurship," for the development of the economy's business sector.

Malaysian businessmen were presented with prospects and benefits of doing business within "Navoi" FIEZ, opportunities for cooperation in the pharmaceutical, electrical, chemical, automobile, oil and gas, light industry, education, and tourism spheres. 

Representatives of the Malaysian side in their speeches at the business forum stressed the serious intention to develop trade, economic and investment cooperation with Uzbekistan, and enhancing participation of their capital in joint ventures in various spheres of the economy, the report said.

According to the Uzbek State Statistics Committee, the Uzbek-Malaysian trade turnover grew by 2.3 times in 2010 as compared to 2009, and amounted to $72.3 million, including exports totaling $37 million, while imports totaled $35.3 million.

At present, 20 facilities with participation of Malaysian investments operate in Uzbekistan, three of which are operating with one hundred percent Malaysian capital.