Uzbekistan and South Korea develop bilateral cooperation

Photo: Uzbekistan and South Korea develop bilateral cooperation / Uzbekistan

Tashkent, Uzbekistan, June 9

By Demir Azizov- Trend:

The President of South Korea Park Geun-hye will visit Uzbekistan, the
governmental source told Trend on June 9.

According to him, the visit is planned within the official tour of the
President of Korea to the partner countries in Central Asia, particularly to
Uzbekistan, Kazakhstan and Turkmenistan.

The aim of the visit, starting on June 16, is the development of bilateral
cooperation. Diplomatic relations between Uzbekistan and South Korea were
established on January 29 in 1992.

South Korea is one of the largest investment partners of Uzbekistan. Legal
base of bilateral cooperation is about 200 documents, regulating cooperation
between states in various fields.

The set of documents, regarding the joint perspective projects in various
fields of economy totaling $5 billion, was signed as a result of the
official visit of the Uzbek President Islam Karimov to S. Korea in 2012.

Large investment projects are being implemented in cooperation with Korean
companies, including construction of Usturt GCC on the Surgil deposit (cost
is $3.9 billion), the development project of Sautbay tungsten deposit ($150
million), organization of textile complex in Tashkent district ($70 million)
and several other projects.

The volume of the mutual trade was $2.12 billion in 2013, which is about
the same as in 2012.

There are 418 factories with Korean shares, actively operating in
Uzbekistan, including 70 of those companies with 100 percent Korean capital.

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