Malaysia, Uzbekistan Aim To Strengthen Ties In MSMEs And Franchise Development

KUALA LUMPUR, Jan 22 (Bernama) -- Malaysia and Uzbekistan are keen to strengthen efforts to explore new opportunities for cooperation in the development of the micro, small and medium enterprises (MSMEs) sector and franchising.

This was one of the key points discussed during the courtesy call by Uzbekistan’s Deputy Minister of Economy and Finance, Dr Umid Abidhadjaev, to Deputy Minister of Entrepreneur and Cooperatives Development Datuk Seri R. Ramanan today.

According to Ramanan, the productive meeting reflected Uzbekistan’s confidence in Malaysia’s economic resilience and the government's commitment to advancing the MSME and franchise sectors on a global scale.

“The main focus is to expand cooperation in innovation, MSME development, and further empower the MSME and franchise sectors for both countries in a more significant way,” he said in a statement today.

“This cooperation will not only bring economic benefits but also inject confidence, highlighting the Malaysia-Uzbekistan relationship as a strong and progressive example of diplomatic ties,” he said in a statement today.

Ramanan also described the meeting as more than just a diplomatic gesture, emphasising that it was an important step towards further developing the MSME and franchise sectors of both countries and penetrating their respective markets.

“With Malaysia’s rapid economic growth and Uzbekistan’s vast potential, this strategic partnership is poised to open new avenues for dynamic trade and investment,” he said.

Ramanan said the discussions also demonstrated the international community’s trust and confidence in Malaysia’s economic sustainability under the leadership of Prime Minister Datuk Seri Anwar Ibrahim.

He also expressed confidence that momentum for cooperation would continue to build following the success of Anwar’s official visit to Uzbekistan last May, as well as preparations for the historic visit by Uzbekistan President Shavkat Mirziyoyev to Malaysia from Feb 4 to 6.

“This visit is expected to serve as a catalyst for various strategic collaborations, covering trade, investment, and technology, while revitalising diplomatic relations that have been established since 1992, making both countries more dynamic and relevant partners on the global stage,” he said.

He said trade statistics reflect a rapidly growing bilateral economic relationship, with the two-way trade value reaching RM325.60 million (USD71.03 million) last year, making Uzbekistan Malaysia's second-largest trading partner in Central Asia, after Kazakhstan.

Also present during the visit were Entrepreneur and Cooperatives Development Ministry secretary-general Datuk Seri Khairul Dzaimee Daud and its deputy secretary-general (Policy and Monitoring) Noor Afifah Abdul Razak.

-- BERNAMA