Uzbekistan and Malaysia discuss trade-economic relations

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May 25, 2014

Uzbekistan and Malaysia discuss trade-economic relations

A roundtable dedicated to the relations between Uzbekistan and Malaysia and cooperation exchange were held in Tashkent on 7 May 2014. The events were organized within the visit of the Vice Prime Minister and Minister of Education of Malaysia Tan Sri Muhyiddin bin Yassin.

During the session, the sides considered issues of further deepening economic cooperation between Uzbekistan and Malaysia.

Foreign partners received information on investment climate in Uzbekistan, including in free industrial and economic zones Navoi and Angren.

The sides also discussed perspectives of cooperation in various areas of economy. The participants also familiarized with economic development and business climate in Malaysia.

Malaysia is one of reliable partners of Uzbekistan in Southern-Eastern Asia. Trade turnover between two states rose by 3.6% in 2013 to US$84.6 million.

In the first quarter of 2014, the figure reached US$18.77 million. Uzbekistan exports to Malaysia transport and tourism services, mineral fertilizers, ready textile garments, etc. Malaysia exports to Uzbekistan such products as electronics, palm oil, rubber and products from them. The sides have real opportunities to expand number of traded goods.

Currently, there are 17 enterprises with investments of Malaysia, of which 13 are joint ventures and four are 100% with Malaysian capital. They work in such areas as gas mining, production of electronics, chemical and textile goods, etc. Seven Malaysian firms are accredited in Uzbekistan.