Use Uzbekistan As Distribution Point To Central Asia, Says Envoy

By Prem Kumar Panjamothy KUALA LUMPUR, Feb 23 (Bernama) -- Malaysian companies can use Uzbekistan as a distribition centre for their products in the Central Asian region due to its strategic geographical location and convenience. Its Ambassador to Malaysia, Shukur Sabitov, said enormous business opportunities were available to Malaysian companies in Uzbekistan. He said Malaysia was one of important trade and economic partners of Uzbekistan. "Malaysia, which has over US$2 billion investments in Uzbekistan since 1992, can join hands with us to further boost investment cooperation and participate in trade fairs and exhibitions to promote Uzbek goods to the markets of South-East Asia and Malaysian products to Central Asia," he told Bernama in an interview. He said trade with Malaysia was expected to grow this year with business-matching exercises and economic forums. "This year will also see major trade delegations from Malaysia to boost economic cooperation. Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, will make an official visit in the second half of the year. "During the same period, the 3rd Malaysia-Uzbekistan Joint Intergovernmental Committee on Trade meeting is scheduled to take place," he said. Bilateral trade totalled US$65 million (RM196.998 million) in 2011, a decline of 11 per cent from 2010. Malaysia exports totalled RM100.014 million in 2011, mainly palm-oil based products, milk products, cosmetics and detergents, electrical and electronic equipments. Uzbekistan exports included fertilisers, made-up textile articles, transport services and logistics. The landlocked country is one of the six independent Turkic states. It shares its borders with Kazakhstan to the west and to the north, Kyrgyzstan and Tajikistan to the east and Afghanistan and Turkmenistan to the south. Its economy relies mainly on commodity output, including cotton, gold, uranium, potassium and natural gas. Diplomatic relations with Malaysia was established in Feb 21, 1992, after Malaysia recognised the independence of the republic a month earlier. Before 1991, the Islamic state was part of the Soviet Union. -- BERNAMA