UZBEK-VIETNAMESE BUSINESS FORUM HELD IN TASHKENT

TASHKENT, Apr 03, 2008 (AsiaPulse via COMTEX) -- -- An Uzbek-Vietnamese Business Forum was held on 28 March at the International Business Centre in Tashkent.

The event was organized by the Ministry of Foreign Economic Relations, Investments and Trade and the Chamber of Industry and Commerce of Uzbekistan, with the support of the Ministry of Industry and Trade of Vietnam.

The forum addressed issues concerning the expansion of the bilateral trade, economic and investment cooperation.

Among the participants were the heads of ministries and agencies, companies and concerns of both countries engaged in foreign trade and economic relations and operating in the banking and finance, oil and gas, construction, aircraft building, machine engineering, food, chemical, textile, transportation and transport and communication, and tourism sectors.

Deputy Minister of Foreign Economic Relations, Investments and Trade of Uzbekistan Akmal Kamalov noted that the agreements reached during the meetings of the heads of two states served as an important legal framework for the development of cooperation of the two countries in many spheres.

Vietnamese entrepreneurs were provided detailed information on the priority investment sectors of the Uzbek economy.

The guests familiarized with the processes of large-scale privatization, economic reforms, the development of small business and private entrepreneurship in the country.

The volume of bilateral trade between Uzbekistan and Vietnam, one of the world leaders in the production of tea, coffee and rice, grows steadily with every year.

In 2007, the volume of bilateral trade between the countries doubled compared to the 2006 level.

Joint ventures created in Uzbekistan in partnership with Vietnamese investors specialize primarily in trade, food production and silkworm breeding.

"Uzbekistan is a country with an immense economic and intellectual potential," said Deputy Minister of Industry and Trade of Vietnam Le Zyan Vin.

"Favourable investment climate created in Uzbekistan for foreign investors makes this country increasingly attractive for Vietnamese entrepreneurs. This factor will help further develop our relations."

Other issues discussed during the forum included trade-economic and investment cooperation, particularly the development of contacts in the oil and gas sector, machine engineering, construction, aircraft building, textile, food, tourism and light industries, and active involvement of Vietnamese companies in the privatization process in Uzbekistan.

The parties also discussed increasing the volume of bilateral trade between the two countries and increasing the number of joint ventures.

The representatives of a number of large Vietnamese companies, including Petro Vietnam, Milan Food, Asia Silk Corporation, and TCL International expressed their intention to expand their presence in the market of Uzbekistan.

(UzReport.com)

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index