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Uzbekistan to use South Korea’s experience in digital economy dev’t

ICT Materials 25 January 2021 18:11
Uzbekistan to use South Korea’s experience in digital economy dev’t

BAKU, Azerbaijan, Jan. 25

By Klavdiya Romakayeva - Trend:

Uzbekistan, South Korea reached agreements on the implementation of St. Korean experience in the development of the digital economy and digitalization of industry in Uzbekistan, Trend reports referring to the Minister of Investments and Foreign Trade of Uzbekistan.

The mentioned issue was announced during negotiations held between the Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and the Deputy Prime Minister, Minister of Economy and Finance of South Korea Hong Nam-ki.

During negotiations, the parties indicated their readiness to start the negotiation process on the issue of concluding an agreement on sustainable trade and economic partnership, which will contain key conditions and principles of cooperation in a wide range of areas, including issues of ensuring access of Uzbek and Korean goods to the markets of the two countries, mechanisms for eliminating imbalances in mutual trade, concrete measures of practical assistance to the Korean side in the accelerated industrialization of Uzbekistan, the development of infrastructure and the introduction of advanced Korean technologies in various fields.

Also, issues of cooperation in the financial and technical sphere were considered - proposals for the implementation of new projects with the involvement of grant funds from the Korean International Cooperation Agency (KOICA) were examined, and further steps were outlined for their approval, approval and practical implementation.

An important part of the negotiations was the agreements reached on the implementation of St. Korean experience in the development of the digital economy and digitalization of industry in Uzbekistan.

It was noted that in the near future, the signing of a Memorandum of Cooperation in the field of digitalization is expected, which will provide for the creation of a number of innovative industries, farms, "smart" cities, the introduction of a system digital health and human resource development.

In addition, the sides agreed to intensify bilateral cooperation within the framework of the process of Uzbekistan's accession to the World Trade Organization, including by expanding the practice of attracting experts from the Korean Institute of International Economic Policy, which have already begun conducting training for government officials of Uzbekistan.

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Follow the author on Twitter: @romakayeva

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