Uzbekistan may become platform for Malaysia to enter CIS market
Baku, Azerbaijan, August 8
By Fakhri Vakilov - Trend:
Uzbekistan can be a bridge for Malaysian business circles to enter the markets of Central Asia and the CIS, said the head of government of the Malaysia Selangor Amirudin bin Shari during negotiations with the Ambassador of Uzbekistan Ravshan Usmanov, on August 7, 2019 in Malaysia, Trend reports citing the Foreign Ministry of Uzbekistan.
During the negotiations, issues of further development of bilateral mutually beneficial investment and trade-economic cooperation, as well as the state and prospects of cooperation in the field of tourism were discussed.
The Malaysian side was informed about the ongoing large-scale economic reforms in Uzbekistan, the possibility of obtaining multiple long-term visas for foreign investors, free economic zones, favorable conditions for doing business and tourism potential.
Shari, noting the huge potential of the two countries, emphasized the need to intensify trade relations and investment cooperation in leading industries.
He expressed confidence that Uzbekistan can act as a bridge for Malaysian business circles to enter the markets of Central Asia and the CIS, and the free economic zones created in the country can become especially attractive for Malaysian investors.
As a result of the meeting, the agreement were reached on organizing a visit of business circles of the state of Selangor on October 25-30 of this year to hold a joint business forum, meetings in the B2B format and considering the possibility of implementing joint promising investment projects and establishing trade cooperation.
Selangor is the most industrialized and densely populated state with the highest standard of living in the whole country.
At the end of 2018, state GDP amounted to about $60 billion (23.7 percent of Malaysia's GDP). Selangor is home to the largest seaport of Klang, which provides about 60 percent of Malaysia's trade.
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