Malaysia and Uzbekistan to reorganize joint committee on trade into joint committee

Tashkent: Malaysia and Uzbekistan agreed to revitalize the work of the Intergovernmental Joint Committee on Trade and transform it into an Intergovernmental Joint Committee.

In a joint statement today, Prime Minister Datuk Seri Anwar Ibrahim and Uzbekistan President Shavkat Mirziyoyev said they will continue mutual visits by business representatives and participate in exhibitions and trade fairs held in both countries.

The two countries also agreed to organize regular and effective bilateral business activities, not only in mainstream goods and services sectors, but also in tourism, medical opportunities and other areas of mutual benefit.

“The two leaders emphasized the importance of prioritizing the expansion of mutually beneficial trade and economic cooperation between Uzbekistan and Malaysia,” the statement said.

Mr. Anwar and Mr. Mirziyoyev also acknowledged the significant increase in the volume of mutual trade in goods and services between the two countries over the past seven years and the need to identify untapped opportunities, poised for further expansion in the coming years. It was announced that there is.

“The two leaders also agreed to hold regular meetings between the responsible bodies of the two countries to discuss issues that would create favorable conditions for bilateral trade turnover, diversify the composition of goods exchange and increase trade volumes. We agreed that negotiations needed to be held.” said in a statement.

The two leaders will also continue their planned efforts towards further developing air transport connectivity and establishing new convenient logistics routes to ensure ease of doing business in both countries, in order to promote mutual trade. emphasized the need.

“In order to simplify import and export processes, the leaders noted the need to accelerate cooperation between the technical regulatory bodies overseeing product standards in both countries and to integrate information systems in the field of phytosanitary hygiene,” the statement said. “I did it,” he said.

Total trade between Malaysia and Uzbekistan in 2023 was RM451.1 million (US$94.03 million), with exports to Uzbekistan totaling RM449 million (US$93.6 million) and imports RM1.99 million (US$414,518). It became.

The two leaders also expressed satisfaction that there are progressive efforts between Uzbekistan and Malaysia towards building a mutually beneficial halal industry ecosystem.

“The Leaders underlined the opportunities for successful cooperation in different sectors of the economy, and in the energy sector, including renewable energy sources, chemicals, electronics and electrical engineering, pharmaceuticals and textiles, mining and metallurgical industries, agro-processing and food industries. , engineering and construction.

“The Malaysian side confirmed that the country is ready to encourage representatives of the business community to invest in the territory of Uzbekistan, and the Uzbek side will provide Malaysian investors with the necessary support to simplify business procedures in Uzbekistan. “Countries that have indicated their readiness to provide assistance,” the statement said.

The two leaders also agreed to facilitate investment procedures for both incoming and outgoing investors, thereby creating a conducive environment for healthy exchange of investment-related activities between Malaysia and Uzbekistan.

“In order to promote mutual industrial cooperation, the two leaders supported the proposal to establish an Uzbekistan-Malaysia Industrial Zone in Uzbekistan, including a safe route for goods, and considered a legal framework for cooperation in the protection of businessmen of both countries. I did,” he said. said in a statement.

Prior to this, Mr. Anwar paid a courtesy call on Mr. Mirziyoyev and met with the president.

During the one-hour meeting, the two leaders discussed Malaysia-Uzbekistan relations and also considered possible areas of cooperation.

Earlier, a special plane carrying Anwar from Kazakhstan landed at Tashkent International Airport at 2:15 p.m. local time.

Uzbekistan is the last stop on Mr. Anwar’s official visit to three Central Asian countries. He had previously visited the Kyrgyz Republic and Kazakhstan.