Uzbekistan, South Korea hold first meeting on economic cooperation

Tashkent, Uzbekistan ( -- Uzbekistan and South Korea held the first meeting on economic cooperation between the two countries on 13 February.

The meeting was attended by Prime Minister of the Republic of Uzbekistan Abdulla Aripov and Deputy Prime Minister of the Republic of Korea, Minister of Strategy and Finance Kim Dong Yeon.

The event was also attended by the heads of ministries and departments, companies and concerns of the two countries responsible for such areas as foreign trade, investment, banking and financial sector, fuel and energy, oil and gas, machine building, transport and communications, construction, food, textile, agriculture and water management, science and education, information technology and telecommunications, medicine and tourism.

During the meeting, the parties discussed development of trade, economic and investment ties between the two countries, as well as the implementation of agreements reached at the highest level.

The parties are equally interested in filling new cooperation with bilateral cooperation, intensifying business contacts and supporting joint projects.

The meeting discussed creation of a training and practical textile technopark in cooperation with the Korean Institute of Advanced Technologies (KIAT), the Uzbek-South Korean business center, the opening of the House of Korean Culture and Art, and others.

Within the framework of the meeting, Uzbekistan and South Korea signed a memorandum of understanding on establishment of a modern multidisciplinary medical center.

In 2017, mutual trade between Uzbekistan and South Korea reached US$1.36 billion, which is 27% more than in 2016.

Currently, more than 70 South Korean companies operate in Uzbekistan. With the participation of South Korean investments, 440 enterprises were opened, the volume of their products exceeds US$5 billion.

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