A regular meeting of the Uzbek-South Korean intergovernmental commission on trade and economic cooperation was held at the Center for International Cooperation in Tashkent.

Deputy Prime Minister of Uzbekistan Elyor Ganiyev, Minister of Trade, Industry and Energy of the Republic of Korea Sung Yun-mo and others noted that relations between our countries are developing in many areas thanks to effective cooperation in the implementation of a number of promising projects, UzA writes.

The event discussed the preparation for the visit of the President of the Republic of Korea Moon Jae-in to Uzbekistan. The need to enrich cooperation with new content, stimulate the dialogue of business circles, support the exchange of inter-territorial delegations was noted.

A visit by the South Korean president is expected this year.

At the meeting, special attention was paid to the implementation of projects under contracts signed between the governments of the two countries. “To this end, it is necessary to establish joint centers that will deal with their effective implementation” the message says.

The sides discussed the construction of high-speed railways in Uzbekistan, the production of environmentally friendly cars, tourism infrastructure and a smart city project, as well as the cultivation of export-oriented agricultural products.

There are representative offices of more than 70 companies, over 630 enterprises with the participation of South Korean investments in Uzbekistan. In 2018, more than 150 such enterprises were formed. The volume of trade turnover between the countries amounted to more than $2 billion. This is 57% more than in 2017.

As noted at the meeting, there is every opportunity to further strengthen trade and economic cooperation. Full implementation of the long-term contracts reached during the state visit of President Shavkat Mirziyoyev to the Republic of Korea in November 2017 will bring the volume of trade between Uzbekistan and South Korea to $5 billion.