Uzbekistan and South Korea discuss trade and economic relations

Tashkent, Uzbekistan ( -- A business forum was held in Tashkent on 12 February with participation of business circles of Uzbekistan and South Korea.

The forum was held within the framework of the visit of the delegation led by the Deputy Prime Minister of the Republic of Korea, the Minister of Strategy and Finance of this country Kim Dong Yeon to Uzbekistan.

More than 60 representatives of the ministries of foreign affairs, trade, industry and energy, business circles of South Korea, heads of ministries and departments, companies and concerns of Uzbekistan, responsible for foreign trade, investment, energy, automotive, construction, chemical, light industry , medicine, education, transport and transport communications, information technology and tourism attended the event.

Chairman of the State Committee for Investments Azim Ahmedkhadjayev said that the country is serious about securing the rights of investors. He told the participants about the measures taken to liberalize the foreign exchange market.

He said that Uzbekistan is a stable country, both politically and economically. Akhmedkhajayev added that Uzbekistan’s external debt does not exceed 18% of GDP, and there is no domestic debt.

The volume of bilateral trade turnover between Uzbekistan and South Korea reached US$1.2 billion a year, Deputy Prime Minister of Uzbekistan Sukhrob Holmuradov said. "The volume of trade in the amount of US$1.2 billion a year has been achieved, but we can confidently say that we have all the opportunities for a significant increase in these indicators," he said.

During the forum, the South Korean side was acquainted with the investment climate in Uzbekistan and the ongoing reforms in the country.

During the dialogue, the sides thoroughly discussed the prospects for expanding mutually beneficial trade and economic cooperation between our countries.

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