Uzbek-Korean Business Forum takes place in Tashkent
18/06/2014 12:59
Uzbek-Korean Business Forum takes place in Tashkent
18/06/2014 12:59
Tashkent, Uzbekistan (UzDaily.com) -- An Uzbek-Korean Business Forum and Cooperation Exchange were held in Tashkent on 17 June 2014. The events were held within the state visit of the President of the Republic of Korea Park Geun-hye to Uzbekistan.
Representatives of ministries and departments, companies and concerns of two countries participated in the event. Over 300 representatives of large South Korean companies attended the forum.
During the forum, the participants considered social-economic development of Uzbekistan and South Korea, perspectives of bilateral cooperation in various sectors of economy.
Korean delegation also familiarized with investment potential of Uzbekistan and opportunities of investment cooperation, as well as creation of conditions at Navoi free industrial zone and Angren special industrial zone.
The participants discussed issues of further developing trade-economic and investment cooperation, as well as interaction in energy, ICT, tourism, food, light, textile industries, science and education. The sides considered issues of training highly-skilled specialists.
The participants also discussed experience of the South Korean companies in Uzbekistan and perspectives of further partnership in various areas.
On the same day, Uzbekistan and South Korean companies participated in the cooperation exchange.
Within the events, representatives of Uzbekistan and South Korea signed several documents of cooperation for over US$2.4 billion.
In particular, Uzbekistan and South Korea signed a memorandum of understanding and cooperation in textile and light industry.
The memorandum of understanding on construction of pilot solar power station in Uzbekistan was also inked.
The memorandum of understanding on creation of innovative center of textile technologies in Tashkent, agreement on implementation of joint investment projects in textile and light industry, memorandum of understanding on expanding and modernizing of Daewoo Textile Ferghana and Daewoo Textile Bukhara were signed.
Uzbekistan and South Korea also signed a memorandum on creation of joint venture on software development and information systems, an agreement on holding calculation within the project on Sautbai tungsten field, a memorandum of understanding on organization of production of plastic products.
A general agreement on creation of Inha University in Tashkent was also inked.
South Korea is a long-term and reliable strategic partner of Uzbekistan. In 2013, bilateral trade turnover exceeded US$2.1 billion.
There are about 420 joint enterprises with participation of South Korean investors in Uzbekistan. About 80 South Korean firms have their offices in Uzbekistan.
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