Uzbekistan and South Korea hold IPC meeting on trade and economic cooperation
Tashkent, Uzbekistan (UzDaily.com) -- A regular meeting of the Uzbek-South Korean intergovernmental commission (IPC) on trade and economic cooperation was held in Tashkent.
Deputy Prime Minister of Uzbekistan Elyor Ganiyev and Minister of Trade, Industry and Energy of the Republic of Korea Sung Yun Mo attended the meeting of the commission.
Representatives of Uzbekistan and South Korea discussed issues of trade and economic cooperation between the countries. The sides discussed issues of expanding investment cooperation.
The event discussed the preparation for the visit of the President of the Republic of Korea Moon Jae-Ina to Uzbekistan. The parties noted that countries need to enrich cooperation with new content.
The sides also considered the implementation of projects under contracts signed between the governments of the two countries. It was noted the need for the formation of joint centers that will deal with their effective implementation.
The delegations of Uzbekistan and South Korea discussed the construction of high-speed railways in Uzbekistan, the production of environmentally friendly cars, projects for the creation of tourism infrastructure, a smart city, and the cultivation of export-oriented agricultural products.
As part of the event, the opening of the Tashkent Business Development Center of Trade Development Agency of the Republic of Korea took place. The center will develop the economy and infrastructure in the country, as well as support business.
There are representative offices of more than 70 South Korean companies in Uzbekistan, over 630 enterprises with South Korean investments. In 2018, more than 150 enterprises with South Korean investments were formed.
The volume of trade between the two countries exceeded over US$2 billion in 2018, which is 57% more than in 2017.