Uzbek-South Korean Business Forum Held

Дата публикации: Jul 09, 2012 7:22:52 AM

On 5 July, business forum of business circles of Uzbekistan and South Korea was held in Tashkent.

The heads and representatives of ministries, departments and companies of the two countries responsible for the development of such sectors like trade, investment, energy, engineering, construction and information technologies took part in the event.

Deputy Minister of Finance of the Republic of Uzbekistan Bahrom Ashrafkhanov, chairman of the Commerce and Industry of Uzbekistan Alisher Shaykhov and Deputy Director of Korea Public Procurement Service Min Hyung Jong speaking at the business forum stressed that cooperation between the two countries consistently develops.

The agreements reached during the meetings of heads of the two states serve as an important legal basis of this process. It was emphasized that this business forum provides new opportunities for further development of trade-economic and investment relations as well as improve the public procurement system.

The Republic of Korea is one of the largest investment partners of Uzbekistan. Trade-economic and investment cooperation have been steadily developing between the two countries. The countries have established the most-favoured-nation regime in the sphere of economy. Last year, the trade turnover between the two countries exceeded USD 1.5 billion.

More than 350 enterprises with participation of South Korean investment and representative offices of more than eighty companies of this country open in Uzbekistan. They operate in the spheres of engineering, commerce, chemical, food, light industry, metal processing, pharmaceuticals, tourism and services.

The activities of airline “Korean Air” in the Navoi international airport and its participation in the transcontinental intermodal hub deserves particular note. Weekly, 24 flights to the major economic and financial centers of Asia and Europe carried out. The representatives of South Korean businesses are actively involved in the development of Navoi free industrial economic zone and the implementation of a number of mutually beneficial projects.

The issues associated with the development of cooperation between enterprises of both countries, specialized in construction, information technologies, energy and water management were considered.

At the end of the business forum, cooperation exchange with the participation of a number of companies and enterprises of Uzbekistan and South Korea’s business communities was held, UzA informs.