President of Uzbekistan receives South Korean PM
21/05/2016 09:09
President of Uzbekistan receives South Korean PM
21/05/2016 09:09
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Islam Karimov received Prime Minister of the Republic of Korea Hwang Kyo-ahn on 20 May, the press service of the President of Uzbekistan said.
Welcoming the guest, Uzbek leader said that the visit is a logical continuation of dialogue at the highest level. This visit of the South Korean’s Prime MInister will further expand bilateral economic and trade, investment, technological, financial, cultural and humanitarian cooperation.
At the meeting, the sides considered preparation and implementation of promising investment projects in the oil and gas sector, in the areas of transport infrastructure, information and communication technologies.
The sides discussed the possibility of establishing new production facilities in the chemical, food, pharmaceutical, engineering and other industries, participation of South Korean investors in the privatization of state enterprises and assets in Uzbekistan.
Hwang Kyo-ahn said that the Republic of Korea stands for the further expansion and strengthening of mutually beneficial and full-scale trade-economic, investment, technological and financial cooperation with the Republic of Uzbekistan.
Within the visit of Prime Minister of the Republic of Korea, opening ceremony of Ustyurt Gas Chemical Complex on the base Surgil field will be held. The project’s cost is US$4billion and it was realized in cooperation with a consortium of leading South Korean companies in the composition of the Korea Gas Corporation and Lotte Chemical involving Samsung Engineering, Hyundai Engineering and GS.
South Korea is one of the main trade partners of Uzbekistan. At the end of 2015, the trade turnover exceeded US$1.7 billion. Uzbekistan is also a major trading partner of South Korea among the countries of Central Asia. More than half of the turnover of the Republic of Korea with the countries of the region fell to share of Uzbekistan.
The volume of direct investments of South Korea in the Uzbek economy has exceeded US$7 billion. There are 449 enterprises with the participation of South Korean investments in Uzbekistan and about 79 companies of South Korea are accredited in the country.
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