The Uzbekistan-South Korea Business Forum was held last Thursday in Tashkent, where the two countries discussed prospects for further cooperation.
The South Korean delegation included business leaders, scientists and academics, while the Uzbek side consisted of government officials, academics and businessmen.
The two sides acknowledged that economic relations between Uzbekistan and South Korea are developing on the basis of the Joint Declaration on Strategic Partnership signed in 2006.
South Korea is one of Uzbekistan's biggest investment partners. Last year, trade between the two countries quadrupled, amounting to approximately $2 billion. The volume of Korean foreign direct investment in Uzbekistan reached $6 billion.
There are approximately 420 joint ventures in Uzbekistan, which is also home to offices of approximately 80 South Korean companies. A number of strategic projects are also being implemented, including the Ustyurt Gas Chemical Complex.
Ahn Yong Se, the executive director of the National Research Council of Economics, Humanities and Social Sciences of the Republic of Korea, said Uzbekistan is one of the key centers on the Silk Road connecting Asia and Europe and is viewed as a country with great potential in logistics and trade.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme