On June 8 this year, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan, S. Umurzakov, had a video conference with Deputy Prime Minister - Minister of Finance of the Republic of Singapore, Heng Swee Keat, and Senior Minister of State at the Ministry of Trade and Industry of the Republic of Singapore, Koh Poh Koon, to discuss measures combating the coronavirus pandemic and reducing its negative impact on the economies of the two countries, as well as prospects and mechanisms to strengthen political, trade, economic, investment, transport, cultural and humanitarian cooperation between Uzbekistan and Singapore.

Here, they considered the progress in projects involving Singaporean investors in Uzbekistan, as well as the prospects for further expansion of partnerships in information and communication technologies, education and healthcare, pharmaceuticals and transport infrastructure. They developed a specific plan to accelerate the existing projects and attract new Singaporean companies to business activity in Uzbekistan.

To intensify investment cooperation, the participants discussed the idea to establish Uzbek-Singapore Business Council, i.e. a platform for strategic cooperation and orientation of business circles of both countries to mutually beneficial interaction and implementation of joint projects.

They discussed in details the adjusting of supply of Uzbek fruits and vegetables to Singapore, including by involving interested companies of two countries to firm commercial contracts. Considering the significant potential for commercial growth, the participants proposed to intensify the study of opportunities to conclude a free trade agreement between Uzbekistan and Singapore.

There also was a consideration of intensification of passenger and cargo flights between the two countries, as well as transfer of experience of leading Singaporean transport companies in managing cargo transportation flows and improving airline performance.

The parties individually discussed the prospects of institutional cooperation within capacity building and training with a view to initiatives to create advanced training courses for senior officials of the ministries and departments of Uzbekistan under the Singapore Cooperation Program, to attract Singaporean experts as strategic consultants on the development of the e-government system, as well as to propose an establishment of a branch of the Singapore University of Social Sciences in Namangan region.

The Singaporean side also expressed its settled intention to support Uzbekistan in its accession to the World Trade Organization through institutional development programs, as well as attraction of Singaporean specialists to exchange experiences on the development of free commercial principles.

A video conference resulted in agreement on creation of a permanent joint working group to promote and implement the discussed areas of cooperation.