Baku, Azerbaijan, Feb. 13
By Nigar Guliyeva – Trend:
The first Uzbek-Korean trading house will open in Seoul this March, Uzbek media reported referring to Foreign Trade Minister Jamshid Khodjaev.
"We are ready to expand direct supplies of strategic goods, such as uranium concentrate, non-ferrous and rare-earth metals, as well as cable and wire products, cotton yarn, ready-made textiles, fruit and vegetable and other demanded products to the Republic of Korea," the minister said.
The minister added that Uzbekistan can purchase from Korea the high-tech equipment to meet the needs of the country's industry sector. In this regard, the Uzbek side intends to actively use the opportunities of the Uzbek-Korean trade house in Seoul, which will begin operating in March this year.
The sides agreed on opening of the Uzbek-Korean trade house and show room in Seoul, where Uzbek products will be presented, as part of the state visit of Uzbek President Shavkat Mirziyoyev to Korea last year.
The volume of bilateral trade between Uzbekistan and South Korea reached $ 1.2 billion a year. Recently, Korean companies take an active part in the development of the economy of Uzbekistan.
In recent years, new areas of partnership have been opened, a number of joint projects are being implemented in the oil and gas industry, energy, education, information technology, engineering, chemical industry and others.
Today more than 70 representative offices of Korean companies operate in Uzbekistan, 440 enterprises with Korean investments operate in almost all sectors of the economy, whose trade volumes exceeded $5 billion.