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TASHKENT (TCA) — A business forum of Uzbekistan and South Korea was held in Tashkent on March 7 within the framework of the visit of a delegation led by the Honorary Consul of the Embassy of Uzbekistan in the Republic of Korea, CEO of Evergreen Motors Kim Chang-keon, the Jahon information agency reported. Continue reading
TASHKENT (TCA) — The first Uzbek-Korean meeting on economic cooperation was held in Tashkent on February 13. The Uzbek delegation was headed by Prime Minister Abdulla Aripov. Deputy Prime Minister and Minister of Strategy and Finance Kim Dong Yong headed the Korean delegation, which comprised some 60 representatives of the Ministry of Strategy and Finance, Ministry of Foreign Affairs, and Ministry of Trade, Industry and Energy of South Korea, the Jahon information agency reported. The parties discussed the implementation of projects under the framework agreement between the governments of Uzbekistan and the Republic of Korea in respect of loans of the Fund for economic cooperation and development for 2018-2020. The amount of the program is $500 million. The participants also considered a project to create a children's multidisciplinary medical center and the organization of a modern specialized medical center in Uzbekistan. The parties also discussed the timely implementation of the project to create a textile Technopark in Tashkent, together with the Korean Institute of Advanced Technologies (KIAT), the creation of the Uzbek-Korean business center, and the opening of the House of Korean culture and art in Uzbekistan. Relations between the two countries have risen to a qualitatively new level after the state visit of President of Uzbekistan Shavkat Mirziyoyev to South Korea in November 2017. South Korean companies are taking an active part in development of the economy of Uzbekistan. In recent years, new areas of partnership have been opened, and a number of joint projects are being implemented in the oil and gas industry, energy, education, information technologies, engineering, and chemical industry.
TASHKENT (TCA) — A number of important agreements aimed at expanding economic and trade cooperation have been reached before and during the ongoing state visit of Uzbekistan President Shavkat Mirziyoyev to the Republic of Korea, the Jahon information agency reports. The Ministry for Foreign Trade of Uzbekistan and the Ministry of Trade, Industry and Energy of the Republic of Korea discussed the possibility of establishing a free trade zone and reached agreement on the need to ensure preferential access to the markets of the two countries. In this regard, heads of the ministries adopted a decision on holding the first meeting of the joint working group until the end of this year. The meeting is set to contribute to the preparation of a bilateral Agreement on preferential trade between Uzbekistan and the Republic of Korea. The Export-Import Bank Korea Eximbank and the National Bank of Uzbekistan have signed a loan agreement worth $150 million. The agreement is expected to provide a credit line for financing small business and investment projects involving the acquisition of equipment, goods and services of Korean production. The credit line is set to cover projects in the areas of agriculture, food industry, medicine, production of construction materials, and automotive industry. Before the president’s visit to South Korea, on November 16-18, a delegation of Uzbekengilsanoat light-industry JSC held a number of meetings and negotiations in Seoul. Following meetings with heads of large Korean trading companies Posco Daewoo, Color of Paradise, Solsang International Corp, RATEL E&T co., Ltd, Korea Factory and trading networks Lotte Mart, the parties reached agreements (contracts and protocols of intentions) to export $70 million worth of textile products from Uzbekistan to Korea in 2017-2018. The Agency for development of the pharmaceutical industry under the Ministry of Health of Uzbekistan has reached an agreement on organization of production of highly effective Korean medicines in Uzbekistan. The Korean side will invest $25 million in direct investments. Agreements were reached with such leading Korean companies as Dalim BioTech, Yuhan Corporation and Erae. Special attention was paid to the organization of 7 new pharmaceutical free economic zones in Uzbekistan.
TASHKENT (TCA) — On November 23, President of Uzbekistan Shavkat Mirziyoyev, who is on a state visit in South Korea, and the President of the Republic of Korea Moon Jae-in signed a Joint Statement on comprehensive deepening of strategic partnership between the two countries, the press service of the Uzbek president said. Continue reading
TASHKENT (TCA) — On November 22-25, the President of Uzbekistan Shavkat Mirziyoyev will pay a state visit to the Republic of Korea at the invitation of President Moon Jae-in, the press service of the Uzbek president said. Continue reading
BISHKEK (TCA) — As China has built strong economic ties and growing influence in Central Asia, another East Asian economic giant — South Korea — is taking steps to increase its economic presence and trade in the resource-rich region. We are republishing this article on the issue by Gary Sands*, originally published by EurasiaNet.org: Continue reading
