TASHKENT, Uzbekistan, February 5. Uzbekistan and Malaysia have agreed to develop a preferential trade agreement as part of efforts to significantly increase bilateral trade and strengthen economic cooperation, Trend reports.
The decision was announced during the Uzbekistan-Malaysia Business Forum held in Kuala Lumpur, where President of Uzbekistan Shavkat Mirziyoyev and Prime Minister of Malaysia Anwar Ibrahim engaged in high-level discussions.
The forum brought together over 200 executives and representatives from leading companies, investment firms, and financial institutions from both countries. Malaysian businesses were represented by major corporations such as Petronas, Proton, Gentari, YTL Corporation, EXIM Bank of Malaysia, and many others.
During his speech, President Mirziyoyev emphasized that the forum marked the beginning of a two-year period of innovative development in Uzbekistan-Malaysia relations. Both sides identified priority areas for practical cooperation, including trade expansion, industrial partnerships, and investment initiatives.
Efforts to enhance transport and logistics connectivity were also highlighted, with nearly daily direct flights between the capitals of both nations facilitating increased business and tourism exchanges. The discussions focused on identifying new opportunities for growth in trade, investment, and joint projects.
A key outcome of the negotiations was the formation of a comprehensive industrial cooperation program. This includes strategic projects in the gas and chemical sectors, particularly in polymer production, green hydrogen, and ammonia manufacturing. The rapid development of Uzbekistan’s construction industry has also opened new avenues for collaboration in the production of innovative and environmentally friendly building materials.
Malaysia’s role as an advanced technology and innovation partner was emphasized, with agreements to expand long-term cooperation in the electronics and semiconductor industries. Both sides also discussed the potential for joint projects in artificial intelligence, digital technologies, and the establishment of data centers.
Healthcare emerged as another crucial area of cooperation, with plans to develop modern clinics and pharmaceutical production based on Malaysia’s expertise. Food security initiatives were also discussed, with a focus on smart agriculture, organic food production, and halal certification.
President Mirziyoyev extended an invitation to Malaysian companies and financial institutions to participate in Uzbekistan’s privatization program, particularly in telecommunications, energy, and banking. Additionally, new opportunities for cooperation in geology, education, transportation, and pilgrimage tourism were outlined.
A major milestone in the forum was the announcement of a special economic zone in Uzbekistan’s Tashkent region, which will be managed by a Malaysian company. This initiative aims to attract further investment and technology transfers.
Concluding the forum, President Mirziyoyev proposed holding the next Uzbekistan-Malaysia Business Forum in Uzbekistan in the fall of this year, reaffirming both countries’ commitment to deepening economic ties.
As regards relations between these nations, both nations are enhancing their collaboration in sectors such as economic and investment synergy, energy resources, educational initiatives, and tourism development. A significant number of Malaysian investors have commenced business operations in Uzbekistan. In 2012, after two decades of amicable relations between the two nations, the Malaysian and Uzbekistan Friendship Association (MAUFA) was established. The organization has also initiated collaborative projects in the realms of educational tourism, photo-tourism, student exchanges, mass media, and information and communication technology. In 2011, numerous collaborative initiatives were underway in Uzbekistan, especially within the oil and gas sector, as well as in the production of textiles, furniture, and electrical goods. Uzbekistan is eager to gain insights from Malaysia regarding the tourism sector.
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