Uzbek-Malaysian Business Forum Takes Place in Kuala Lumpur
Tuesday 27 September 2011
Tashkent, Uzbekistan (Jahon news agency) – An Uzbek-Malaysian Business Forum dedicated to discussion of further strengthening bilateral trade-economic and investment of cooperation, took place in Kuala Lumpur, Malaysia.
Representatives of Malaysian business associations and private companies, interested in establishing trade-economic and investment cooperation with Uzbekistan, participated at the forum. During this business meeting, the participants familiarized with main macroeconomic figures of Uzbekistan, the State Programme The Year for Small Businesses and Private Entrepreneurship, investment climate and tourism potential of Uzbekistan.
The Malaysian side was familiarized with perspectives and advantages of doing business at Navoi free industrial and economic zone, opportunities of cooperation in pharmaceutics, electrotechnical, chemical, automobile, oil and gas, light industries, education and tourism sectors.
The business forum results show that business circles in Malaysia are interested in developing trade and investment cooperation with Uzbekistan, expand participation of Malaysian capital in joint venture in oil and gas, chemical, fabrication of car components, textile sector, pharmaceutical industry, as well as tourism.
Trade between Uzbekistan and Malaysia has been growing in last five years. In 2010, it reached some US $72 million.
Currently, 20 enterprises with Malaysian funds operate in Uzbekistan; three of them have 100% Malaysian capital.
Six Malaysian enterprises accredited at the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan. They operate in sectors such as oil and gas, exploration, trade and mediation, consulting in ICT.