Uzbekistan, Singapore strengthen cooperation

Deputy Prime Minister of the Republic of Uzbekistan, Minister of Investments and Foreign Trade Sardor Umurzakov held a videoconference with the Deputy Prime Minister of the Republic of Singapore, Minister for Finance Heng Swee Keat and Senior Minister of State for Trade and Industry Koh Poh Koon.

Participants discussed measures taken to counteract the spread of coronavirus and reduce the negative impact of the pandemic on the economy of the two countries.

The status of ongoing projects in Uzbekistan with participation of Singapore investments, as well as prospects for further expansion of partnership in information and communication technologies, education, healthcare, pharmaceuticals and transport infrastructure, were considered. A specific action plan was developed to accelerate the implementation of existing projects to attract new Singaporean companies to business in Uzbekistan.

The parties were greatly interested in the idea of creating Uzbekistan – Singapore Business Council for implementing joint projects to enhance investment cooperation and develop strategic areas of cooperation.

Mechanisms for supplying Uzbek fruits and vegetables by involving interested companies in development of trade agreements were comprehensively discussed. It was proposed to intensify activities on exploring the possibilities of concluding an agreement between Uzbekistan and Singapore on free trade, taking into account a significant increase in the volume of trade.

The experience of Singapore’s leading transport companies in accelerating the transportation of passengers and goods between the two countries, managing the flow of goods and improving the activities of airlines was also considered.

The parties within the framework of the Singapore Cooperation Program discussed the organization of training courses for heads of ministries and agencies, involvement of Singaporean experts as strategic advisers on development of E-Government system, as well as opening of a branch of the Singapore University of Social Sciences in Namangan region.

The Singaporean side expressed its desire to support Uzbekistan in the process of its accession into the WTO through the implementation of the institutional development program, to attract Singaporean specialists for exchanging experience in developing the principles of free trade.

The parties agreed to create a permanent working group for promoting the discussed areas of cooperation.

UzA