On September 8, the Deputy PM Sardor Umurzakov, had a videoconference with the First Deputy PM/Minister of International Trade and Industry of Malaysia, Mohamed Azmin Ali.
The parties noted their interest in further increasing the volume of the two-way trade through the enhancing the ties between the suppliers and customers of the two countries.
They also discussed plans for the establishment of the Halal Centre of Excellence in Uzbekistan through the cooperation of the Uzstandard Agency and the Department of Islamic Development Malaysia (JAKIM). This will enable the introduction and development of halal products on the basis of the Malaysian experience, and will make the markets of South-East Asia, the Middle East and others available for Uzbek exporters.
The parties noted significant potential for cooperation in the investment sphere, inter alia, in the chemical industry, education, IT and the food industry. The parties discussed the project on launching the production of caustic soda and liquid chlorine in the Hazorasp Special Economic Zone in Khorezm province, which is in an active phase now; the project drew approximately US $250 million of direct investment from the Malaysian company Serba Dinamik Group Berhad.
The sides also noted the high potential of cooperation in banking and financial spheres through establishing offices and branches of Malaysian banks in Uzbekistan and organizing inter-bank cooperation, with emphasis on the financing of export-oriented projects and support for small and medium-sized businesses in the country.
In addition, the sides highlighted significant opportunities for bilateral cooperation in the transport, logistics and tourism. In this context, the deputy PMs discussed measures for the organization of international air freight transport, the creation of a logistics air hub, and the opening of the “Aviation Academy” Training Centre for pilots in Uzbekistan.
To further develop bilateral relations in the cultural-humanitarian sphere, it is expected that the MARA University of Technology will cooperate with the Silk-Road International University of Tourism in Samarkand, and the Binary University of Management & Entrepreneurship will open its branch in the Khorezm province.