On October 25, the Deputy PM/Minister of Investment and Foreign Trade Sardor Umrzakov and Deputy Prime Minister of the Republic of Korea/Minister of Economy and Finance Hong Nam Ki held online talks, the Uzbek Ministry of Investment and Foreign Trade said.
The talks focused on opportunities to expand investment cooperation, and noted that experts of relevant ministries and departments of the two countries have formed new mutually beneficial investment projects, which are currently being reviewed.
While, further measures are being planned to further expedite the implementation of ongoing projects In cooperation with the Eximbank of Korea, the Economic Development Fund and the Korean International Cooperation Agency. In order to implement promising projects in Uzbekistan without providing sovereign guarantees, the possibility of establishing cooperation with the Fund for Economic Development was also considered.
The parties discussed the preparation of a draft free trade agreement between Uzbekistan and Korea and expressed their intention to step up efforts to reach an agreement on the issues arising and prepare the document for signing in the near future.
Until the end of this year, the issues of holding meetings of the Council of Deputy Prime Ministers and the Uzbek-Korean Intergovernmental Committee on Trade and Economic Cooperation in Seoul, as well as holding a business forum with the participation of Uzbek and Korean business circles were discussed.
At the end of the talks, the two countries agreed to intensify joint activities in the areas discussed, with the involvement of relevant ministries and departments.