Uzbek-Singaporean Business Forum was held at the International Business Centre in Tashkent on 24 September. Ministry of Foreign Economic Relations, Investments and Trade, Chamber of Commerce and Industry of Uzbekistan and Singapore Business Federation organized the event.

Heads of ministries and departments, companies and concerns responsible for foreign trade and economic relations, finance, oil-and-gas sector, construction, mechanical engineering, food, chemical, light and textile industries, healthcare, information technologies, transport and tourism between the two countries participated in the forum initiated to develop Uzbek-Singaporean relations in trade, economic and investment cooperation.

Speaking at the meeting, First Deputy Minister of Foreign Economic Relations, Investments and Trade of Uzbekistan N.Najimov said that the agreements reached during the meetings of both countries’ leaders formed a solid legal basis for development of all-round collaboration, in particular, in trade and economic, humanitarian spheres.

"The state visit of President Islam Karimov to Singapore in January 2007 lifted the mutual relations between the two countries to a new level," Najimov noted.

Singapore is a reliable partner of Uzbekistan. The volume of trade turnover made up US$113.5 million in 2006, and nearly US$105.4 million in January-August 2007 alone. Some 20 joint ventures founded in cooperation with Singaporean partners are operating in Uzbekistan, several large Singaporean companies have opened their representative offices in the country.

"Uzbekistan has vast economic opportunities, rich culture and history," said Singaporean Ambassador to Uzbekistan Sim Cheok Lim.

"The favourable investment climate created in Uzbekistan for cooperation with foreign investors raises the interest of Singaporean businessmen. This factor serves to further development of cooperation between our countries. We are interested in further enhancement of bilateral trade, economic and humanitarian ties," Singaporean envoy added.