BAKU, Azerbaijan, June 9
By Ilkin Seyfaddini - Trend:
Representatives of Uzbekistan and Singapore discussed prospects and mechanisms of bolstering political, trade-economic, investment, transport, cultural and humanitarian cooperation, Trend reports with reference to Ministry of Investments and Foreign Trade of Uzbekistan.
Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov held a videoconference with Minister of Finance of Singapore Heng Swee Keat and Senior State Minister of Trade and Industry Koh Poh Koon on July 8, 2020.
During the talks, the sides reviewed the status of projects implemented with the participation of Singaporean investors in Uzbekistan, as well as prospects for further expansion of partnership in information and communication technologies, education and healthcare, pharmaceuticals and transport infrastructure.
Given the considerable potential for boosting the trade turnover, it has been suggested to intensify joint work in exploring the possibilities of concluding a free trade agreement between Uzbekistan and Singapore.
In addition, the two sides discussed the idea of creating an Uzbek-Singaporean business council - a platform to elaborate strategic areas of cooperation and guide business circles of both nations to mutually advantageous cooperation and implementation of joint projects.
Possibilities have also been considered to intensify passenger and cargo air travel between the two countries, as well as to borrow the experience of leading Singaporean transport companies in managing cargo transportation flows and improving the performance of airlines.
The Singaporean side expressed firm intention to support Uzbekistan in its process of joining the World Trade Organization through the implementation of institutional capacity building programs, as well as the involvement of Singapore experts to share experience in development of free trade principles.
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