Uzbekistan and Singapore plan to conclude a free trade agreement 

The parties discussed perspectives and mechanisms for strengthening political, trade-economic, investment, transport and cultural-humanitarian cooperation.

The negotiations examined the status of projects involving Singaporean investors in Uzbekistan, the prospects for further expansion of partnerships in ICT, education and health spheres, as well as in pharmaceuticals and transport infrastructure, the MIFT press service said. 

Given the considerable potential for trade expansion, it was proposed to intensify joint work to explore the possibility of a free trade agreement between Uzbekistan and Singapore.

In addition, the parties discussed the idea of establishing the Uzbekistan-Singapore Business Council, a platform for developing strategic areas of cooperation and orienting business circles of the two countries towards mutually beneficial cooperation and joint projects.

The representatives also considered ways to intensify passenger and cargo flights between the two countries, as well as to share the experience of leading Singaporean transport companies in managing cargo flows and improving airline performance.

In addition, the sides discussed prospects for institutional cooperation in the area of capacity-building and education, i.e. initiatives to establish advanced training courses for senior officials of the ministries and departments of Uzbekistan within the framework of the “Singapore Cooperation Program”, engaging Singaporean experts as strategic consultants for the development of the “e-government” system, as well as on the proposal to open a branch of the Singapore University of Social Sciences in the Namangan region.

The Singaporean side expressed its firm intention to support Uzbekistan in the process of its accession to the World Trade Organization through the implementation of institutional capacity-building programs, as well as engaging Singaporean experts to share experiences in the development of free trade principles.