Trade turnover between Uzbekistan and South Korea reached $1.8 billion in nine months

In Tashkent, representatives of ministries and departments of Uzbekistan met with leading South Korean investors, the correspondent of “Dunyo” news agency reports with reference to the Chamber of Commerce and Industry (CCI).

The meeting was organized in cooperation with the Chamber of Commerce and the Embassy of the Republic of Korea. Its main goal was to discuss and solve the problems reported by 100 Korean companies during the survey.

In his speech, the Chairman of the Chamber of Commerce and Industry Davron Vakhobov noted that the Republic of Korea is in the top 5 countries with the largest foreign trade turnover with Uzbekistan and today there are 930 enterprises with the participation of South Korean capital in our country, of which 380 are joint ventures and 550 are foreign enterprises operating on based on 100% South Korean capital. The main activities of these enterprises are: trade, transport and logistics, information technology, the provision of various services, construction and others.

As of January-September, the trade turnover between the two countries is $1.8 billion and increased by 5.1 percent compared to 2021. In particular, in the areas of transport, construction, textiles, food and chemical industries.

South Korean entrepreneurs noted that in recent years, economic reforms have been systematically implemented in Uzbekistan, including a number of legal and financial opportunities for attracting foreign investment, and measures are being taken to increase the investment attractiveness of the republic. Also, South Korean investors have stated some of the problems they face in their activities. Most of the problems were solved by the relevant ministries and departments during the event, instructions were given on some issues to solve them.