Over 20 documents signed following Uzbek-South Korean talks

Over 20 documents signed following Uzbek-South Korean talks

Uzbekistan, Tashkent, Aug. 24 / Trend D.Azizov /

More than 20 documents were signed during South Korean President Lee Myung-bak's state visit to Uzbekistan. These documents are aimed at enriching the Uzbek-Korean Strategic Partnership with new contents and further strengthening of the legal framework of the mutual cooperation.

Myung-bak is on a state visit to Uzbekistan on Aug.23-24 upon President Islam Karimov's invitation.

The two leaders adopted a joint statement on Tuesday.

Then, the Uzbek-Korean intergovernmental agreements were signed in the presence of the presidents. The sides signed an agreement on the temporary employment of citizens of one state in another, as well as a Memorandum of Understanding and Partnership in the field of industrial and energy cooperation was signed between the Korean and Uzbek economic ministries.

The National Holding Company Uzbekneftegaz and South Korean companies signed four agreements on construction of the Ustyurt gas-chemical plant on the Surgil gas field base, costing $2.6 billion.

Further, exchange notes were signed between the two countries on amendments to the intergovernmental agreement on the establishment of air links between their respective territories and beyond, dated 6 June 1994.

The two governments also agreed on the allocation of grant aid to finance four projects totaling $ 10.5 million implemented by KOICA.

The Uzbek and Korean finance ministries, as well as health ministries, signed a Memorandum of Cooperation. Memorandums of Understanding were signed between the Uzbek State Statistics Committee and Korean Statistics Agency, Uzbek Intellectual Property Agency and Korean Intellectual Property Office, Uzbek Culture and Sports Ministry and Korean Culture, Sport and Tourism Ministry. The Uzbek State Committee for State Property Management and the Korean Stock Exchange (KSE) signed a general agreement on the modernization of the Uzbek securities market.

The Uzbek State Committee for Geology and Mineral Resources and Korean Shindong Resources Co. Ltd. signed an agreement to establish a joint venture "Uzbekistan-Korea Tungsten" for exploration and development of the Sautbay tungsten deposit in the Navoi region.

The parties also signed several agreements aimed to develop the Uzbek textile industry.

Some experts believe the total amount of signed agreements is estimated at $4 billion.

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