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Tashkent holds business forum with Vietnamese counterparts

03
Apr '08

A business forum between Uzbekistan and Vietnam was recently held in Tashkent at the International Business Center of the city.

The event was jointly 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 main objective of holding this meeting was to promote bilateral trade, economy and investment cooperation.

Participants at the meeting mainly included ministries, agencies and concerned companies of both the countries engaged in various industrial activities in oil, machinery, chemical, textile, transportation and other areas.

Accords finalized between the heads of the two countries will assist in the development of mutual cooperation in many arenas.

Detailed information was furnished to the Vietnamese entrepreneurs about the priority investment sectors in Uzbekistan. This gave the guests an insight to the prevalent processes of large scale privatization, economic reforms, and development of small businesses.

Vietnamese investors who have entered into a joint venture with Uzbekistan have mainly concentrated in areas of trade and silkworm breeding.

Bilateral trade volume between the two countries nearly doubled in 2007 compared to the year before reflecting a gradual and continuous rise in transaction of goods. The two parties also held discussions on further increasing their business and the number of joint ventures.

The representatives of Vietnamese companies like Petro Vietnam, and Asia Silk Corporation expressed their intention to expand their presence in the market of Uzbekistan.

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