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TASHKENT (TCA) — On February 13, the Embassy of Uzbekistan in Malaysia held negotiations with the President of SME International Trade Association of Malaysia (SMITA) Megane Soo to discuss implementation of investment projects in Uzbekistan’s Namangan region, the Jahon information agency reported.

SMITA’s main task is to support members of the Association in finding new partners abroad for establishing business contacts and trade relations and implementing joint projects.

Megane Soo praised reforms implemented in Uzbekistan for liberalizing the economy and improving the business climate and expressed great interest in further strengthening and expanding cooperation with the country, including by organizing joint ventures in leading sectors of the economy and exports to Malaysia.

According to the Ministry of Foreign Affairs of Uzbekistan, following the negotiations, an agreement was reached on organizing a visit of the Association members to Namangan region by the end of February. It is planned to discuss issues of implementation of specific investment projects for construction of a hotel and creation of a livestock complex.

On February 7-10, a delegation of the Kelantan State Economic Development Corporation (Malaysia) visited Uzbekistan.

According to the Embassy of Uzbekistan in Malaysia, the corporation is a financial institution for provision of loans on the principles of Islamic banking, as well as providing consulting services in this sphere.

The state of Kelantan is considered the cradle of Malaysian culture with a predominantly Muslim population and a center of agriculture and fish farming in Malaysia.

According to the Uzbek Ministry of Foreign Affairs, during the visit, the Malaysian delegation was received at the Chamber of Commerce and Industry of Uzbekistan. They discussed opening a representative office of the corporation in Tashkent for conducting trainings, courses and practical workshops on microcredit for medium and small business, as well as familiarization with basics of Islamic finance.

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