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Uzbekistan and Singapore plan to increase trade and industrial cooperation

On January 16 of this year, during the visit of the delegation of Uzbekistan to Singapore, Minister of Investment, Industry and Trade Laziz Kudratov held talks with the Minister of Trade and Industry of this country, Gan Kim Yong.

During the dialogue, the historical significance of the upcoming state visit of the President of the Republic of Uzbekistan to Singapore was noted.

“The events of these days will give a powerful impetus to the further deepening of the partnership between the two countries in all directions, opening a completely new chapter in the history of Uzbek-Singaporean relations,” said Gang Kim Yong.

It was noted that Uzbekistan has undergone drastic changes in the economic sphere in recent years. This allowed Singaporean companies to freely enter the Uzbek market and conduct active business activities. In this regard, it was noted that their success is a call to action for other investors.

Earlier in the day, a business forum was held, which was attended by over 200 representatives of the leading business circles of both countries. Within the framework of the event, a list of 23 bilateral agreements covering a wide range of priority areas for the development of cooperation between the two countries was signed. Such rich results indicate a significant interest of the Singapore business community in the implementation of investment projects in almost all industries.

– We want as many companies as possible to learn about Uzbekistan and its huge potential. We are ready to provide constant assistance in attracting new investors to your country. We can also be a bridge for Uzbek goods to enter the markets of Southeast Asia and the entire Asia-Pacific region,” said the Minister of Trade and Industry of Singapore.

Following the meeting, a signing ceremony was held. Thus, within the framework of the state visit, an intergovernmental Memorandum on the development of trade and economic cooperation between the Republic of Uzbekistan and the Republic of Singapore was signed. In addition, the issue of adopting a number of agreements securing the establishment of the Uzbek-Singapore Chamber of Commerce and attracting Singapore’s experience in the development of business incubators to Uzbekistan was agreed.


Source: miit.uz