Korean-Uzbek business center opens in the Republic of Korea
15/11/2018 18:04
Korean-Uzbek business center opens in the Republic of Korea
15/11/2018 18:04
Tashkent, Uzbekistan (UzDaily.com) -- On 9 November 2018, an opening ceremony of the first Korean-Uzbek business center took place in Incheon, Republic of Korea.
The event included the signing ceremony of the Memorandum of Understanding between the Embassy of the Republic of Uzbekistan and the Korean Importers Association (KOIMA). This document envisages implementation of a number of measures to increase the supply of Uzbek products to the Korean market, jointly study the expansion of the range of goods exported from Uzbekistan, the organization of KOIMA trade missions to Uzbekistan, etc.
Over 400 people attended the opening ceremony of the business center, including the chairmen of the Korean Importers Association (KOIMA) Shin Myung-jin and Incheon Free Economic Zone Kim Jin Yong, general director of the Eurasia 21 parliamentary organization, Kim Sung Dong, more than 15 heads diplomatic missions, heads of about 50 large companies, representatives of the Ministry of Foreign Affairs, Ministry of Trade, Eximbank, Chamber of Commerce and Industry and Mass Media of Korea, public and political circles, as well as famous figures of culture and art.
The business center has a permanently operating showroom, where a wide assortment of products from Uzbek manufacturers are presented - textile, silk, chemical, wine and vodka, fruits and vegetables, as well as ceramics and wood products, handmade jewelry work.
It is expected that the opening of the Korean-Uzbek business center will contribute to a significant expansion of exports of products from Uzbekistan to South Korea, an increase in South Korean direct investment and the promotion of the tourist potential of the republic.
As the Chairperson of the KOIMA Shin Myung-jin said in his speech, this event reflects a mutual interest in expanding trade and economic cooperation between the two states. He also noted that the Uzbek-Korean relations, based on the principle of mutual respect and friendship, are successfully developing at the level of strategic partnership.
Shin Myung Jin stressed that the signed Memorandum will lay a solid foundation for further building up comprehensive trade relations, increasing the level of representation of Uzbek goods in Korea, as well as using KOIMA’s ability to distribute information on products made in Uzbekistan to major importers of Korea. At the same time, he separately drew attention to the importance of the effective use of the Korean-Uzbek business center as a platform for holding B2B meetings, presentations, seminars, “round tables”, as well as the conclusion of import-export contracts. According to the KOIMA chairman, the permanent “show room” will allow Korean companies to familiarize themselves directly with Uzbek products and discuss on-the-spot the conditions of supply to Korea.
Chairman of the Inchon FEZ Kim Jin Yong highly appreciated the initiative of the Uzbek side to open the specified business center, which is the first institution of foreign countries in the Inchon FEZ. He expressed readiness to continue to provide all possible assistance in supporting the activities of the business center, holding joint events aimed at promoting interaction in the areas of investment, trade and tourism.
In his speech, Kim Sung Dong, Director General of the Eurasia 21 parliamentary organization, particularly focused on those present in the business center conditions for the implementation of mutually beneficial joint projects between Uzbekistan and South Korea. In turn, he declared the readiness of the parliamentary organization "Eurasia 21" to support the activities of the business center in this direction. He called on representatives of South Korean companies to actively use the opportunities created by the business platform.
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