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22 April 2019

Business circles of Uzbekistan and Korea have signed agreements for $ 12 billion.

Bilateral relations between the Republic of Uzbekistan and the Republic of Korea are elevated to the rank of a special strategic partnership. Presidents Shavkat Mirziyoyev and Mun Zhe Ying signed a Joint Declaration on a Special Strategic Partnership between the Republic of Uzbekistan and the Republic of Korea.

Documents have been signed between governments and ministries regarding the promotion and mutual protection of investments, the exploration of space for peaceful purposes, cooperation in science, technology and innovation, the creation of the Uzbek-Korean center for cooperation in the health sector, and others.

Also, the Uzbek-Korean Business Forum, organized by the Ministry of Investment and Foreign Trade and the Chamber of Commerce and Industry of the Republic of Uzbekistan, was held as part of the state visit of President of the Republic of Korea Moon Jae Ying to Uzbekistan. More than 350 representatives of more than 150 companies and organizations of the Republic of Korea, as well as their partners from among Uzbek companies, took part in its work.

As a result of the business forum, agreements were reached and agreements on the implementation of 29 projects worth about $ 12 billion were signed. The agreements provide for the participation of the Korean side in various areas – geology, electrical engineering and mechanical engineering, construction materials, light industry, chemical and petrochemical industries, civil engineering, tourism infrastructure, banking and financial sector.