Uzbekistan and Malaysia are interested in establishing cooperation between the chambers of commerce and industry of the two countries

In order to increase the economic potential of Uzbekistan, increase and diversify the volume of exports of Uzbek products to the Malaysian market, as well as develop bilateral trade and economic relations, Ambassador of Uzbekistan Ravshan Usmanov today met with the President of the National Chamber of Commerce and Industry of Malaysia – NCCIM) So Tien Lai, the correspondent of “Dunyo” news agency reports.

The National Chamber of Commerce and Industry of Malaysia was founded in 1962, includes 5 independent chambers and has more than 650 thousand members throughout the country.

During the talks, the President of the Malaysian Chamber, So Tian Lai, highly appreciated the socio-economic reforms being carried out in Uzbekistan and noted that trade and economic relations between the two countries have a higher potential, and therefore the development of cooperation between the parties will serve the development of the two countries.

At the meeting, the Malaysian side was provided with information on free economic zones (FEZs), small industrial zones (SIZs), opportunities created for foreign investors, small and medium-sized businesses, as well as reform processes in the textile sector, mining and chemical industries, which are leading sectors of the country’s economy. It was noted that Uzbekistan, due to its geographical location, acts as a unique hub for Malaysian manufacturers to enter the markets of Central Asia and the CIS countries.

As a result of the negotiations, an agreement was reached to hold an online meeting between the leadership of the Chamber of Commerce and Industry of Uzbekistan and the National Chamber of Commerce and Industry of Malaysia with the participation of the presidents of five independent chambers in the near future.

The Malaysian side proposed to sign a Memorandum of Cooperation between the parties during the planned online meeting.