Saturday, 23, March, 2019

The 9th meeting of the Uzbek-Korean Trade and Economic Cooperation Committee was held on Monday at Tashkent’s International Business Center, which was attended by the Uzbekistan Deputy PM E. Ganiev, Uzbek Minister of Investments and Foreign Trade S. Umurzakov and Minister of Trade, Industry and Energy of the Republic of Korea Mr. Sung Yoon-mo. The meeting was co-organized by the Uzbek Ministries of Investments, Foreign Affairs and the embassies of the two countries.

The items on the agenda included the signing of deals on preferential trade and free trade zone, lifting barriers for supply of fruits, vegetables and textiles from Uzbekistan and creation of a new platform for multi-area investment cooperation between the two countries.

The South Korea delegation including officials of major companies arrived in Tashkent who were also to discuss preparations for the upcoming visit to Uzbekistan of the President of South Korea Mr. Moon Jae-in.

The Uzbek officials underscored the valuable long-term contribution of the Republic of Korea to Uzbekistan's socio-economic development through the financial and technical assistance programs by EDCF fund, Eximbank of Korea and KOICA.

Vivid evidence of the special relationship between the two countries are such projects as the Uzbek-Korean centers and the agricultural machinery, rare metals, textile and chemical technoparks, as well as the exchange of experience and knowledge, advanced training programs of Uzbek specialists. In addition, it was noted that the growth of two-way trade increased by 57 percent in 2018.

The Korean side stressed a strong commitment to further boost trade and investment cooperation between the two countries and noted that they can  financial and technical assistance for the development of health care and engineering projects, for setting up of research and design centers in the chemical industry, construction of roads, the introduction of modern standards and construction technologies and topographic-geodetic studies.

The parties determined that for quality preparation of the visit of the President of the Republic of Korea to Uzbekistan and to prepare bilateral accords for a number of projects, the possibility of organizing a visit of the Uzbek government delegation to Seoul is being reviewed.

An important outcome of the 9th meeting of the Uzbek-Korean Committee was the proposal to create a joint quarantine infrastructure in Uzbekistan with modern laboratories.

The miniutes of the meeting was signed following the meeting, as well as the opening ceremony of the Center for Assistance to Korean Companies at the Korean Trade Promotion Agency (KOTRA) in Tashkent was held.

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