Saudi and Uzbekistan businessmen discussed cooperation opportunities in mining, chemicals, electronic techniques, and food industries in the Saudi-Uzbek Business Forum held on Wednesday in Tashkent, capital of the Republic of Uzbekistan.
Vafaev Shukhrat Abdusharifovich, Uzbekistan's Deputy Minister of Investment and Foreign Trade, presented in his speech Uzbekistan's investment landscape and investment opportunities in all economic sectors, reiterating the Uzbek keenness to attract and facilitate Saudi investments.
Chairman of the Chamber of Commerce and Industry of the Republic of Uzbekistan Ikramov Adkham Ilkhamovich pointed to the economic reform in the country inclusive of economic liberalization, bringing the appropriate climate for foreign investors, facilitating foreign trade and consolidating legal and rights bases in business.
The USD7.5 million volume of trade exchange between the two countries is below the level of expectation in light of the business opportunities and geographical proximity, said Abdulaziz AlMeshari, Secretary General of CSC.
He suggested in his speech at the forum to establish a mutual work mechanism for investment and trade cooperation and optimize bilateral agreements between the two countries. AlMeshari called on Uzbek businesspersons and entrepreneurs to build on the business opportunities and stimulate the environment in the Kingdom.
He also called on Saudi businesses in the small and medium enterprises sector to invest in Uzbekistan, hoping that the Uzbek government will create an environment for investment as well as ensure protection for the Saudi capital.
AlMeshari highlighted the aspects of cooperation including investment in Uzbek agriculture products and marketing in Saudi Arabia and other Gulf Cooperation Council (GCC) countries in addition to the joint tourism investment in Uzbekistan.