Uzbek officials hold negotiations with the Deputy Prime Minister of Korea
07/07/2020 20:46
Uzbek officials hold negotiations with the Deputy Prime Minister of Korea
07/07/2020 20:46
Tashkent, Uzbekistan (UzDaily.com) -- On 6 July, talks were held in Seoul between the Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and the Deputy Prime Minister - Minister of Economy and Finance of the Republic of Korea Hong Nam Ki during which an analysis of the current economic cooperation between the two countries was carried out, and further tasks to expand bilateral cooperation were identified.
During the dialogue, the special strategic nature of relations between Korea and Uzbekistan was repeatedly emphasized, and it was also noted that the parties’ common priority was the full, high-quality and timely implementation of the agreements reached during the high-level mutual visits.
On behalf of the Government of the Republic of Uzbekistan, gratitude was expressed for the humanitarian support provided by the Government and large corporations of Korea in the form of provided test systems, medical equipment and inventory, as well as for highly qualified specialists sent to Uzbekistan to combat the spread of the pandemic, which for several months had been providing practical assistance to Uzbek doctors.
Particular appreciation was expressed for the decision of the Government of Korea to provide grant support for the implementation of the "Emergency Response Program for COVID-19" in Uzbekistan, which provides for technical assistance in the areas of healthcare and social support for the most vulnerable groups of the population.
The firm intentions of Uzbekistan to support the “New Northern Policy” carried out by the President of Korea and to provide comprehensive assistance to the implementation of promising projects under this initiative were voiced. This program, in particular, provides for the intensification of measures aimed at a significant increase in Korea’s trade turnover with Central Asian countries, as well as stimulating Korea’s investment cooperation with the states of the region with a focus on industries such as agriculture, automotive, healthcare, pharmaceuticals and ICT.
On a mutual basis, an initiative was supported to develop, together with the Ministry of Economy and Finance of Korea, a new 3-year program of financial and technical cooperation between Uzbekistan and Korea for 2021-2023 with an increase in its budget to US$1 billion.
The cooperation program for 2018-2020 is being completed, within the framework of which 6 projects for US$500 million are being implemented in the fields of healthcare, geodesy and cartography, ICT and education.
The Korean side also announced its readiness to support the implementation of new projects together with the Eximbank of Korea and the Economic Development and Cooperation Fund (EDCF) by accelerating the relevant procedures and processes, as well as promoting a number of new projects scheduled for implementation with the participation of the Korea International Cooperation Agency. Particular attention was paid to the successful implementation of a number of promising projects in priority sectors, including a project to develop the potato seed production potential with the assistance of the Ministry of Agriculture, Food and Rural Affairs of Korea, the creation of an Uzbek-Korean research center to introduce advanced construction technologies and standards, the construction of an integrated Center for training, education, personnel development and an innovative state preschool educational system and the introduction of a pilot model of Korean-Uzbek cooperation for innovations in the field of digital healthcare in Uzbekistan.
The tangible support of the Korean side in matters of bilateral cooperation in the framework of accession to the World Trade Organization was highlighted, in particular, due to the practical assistance of the Chairman of the Working Group on Uzbekistan’s WTO Accession - Extraordinary and Plenipotentiary Ambassador of Korea in Geneva, as well as close cooperation with the Korean Institute international economic policy regarding research on the impact of Uzbekistan’s accession to the WTO. It is noted that the entry of Uzbekistan into the Organization and its integration into the multilateral global trading system will open up new opportunities for further increase in the volume of mutual trade.
In addition, it was announced that the Government of Korea is ready to fully support the measures taken in Uzbekistan to reduce the negative consequences of the Aral Sea ecological disaster, in connection with which the issue of allocating funding to support the activities of the Multi-Partner Trust Fund for Human Security in the Aral Sea region will be considered.
Following the meeting, the parties agreed to intensify further cooperation in order to expand the portfolio of mutually beneficial agreements on the implementation of new investment projects and trade agreements, which will have a positive effect on the further development of relations between Uzbekistan and Korea. It was also agreed to hold the 3rd meeting of the deputy prime ministers of the two countries in September of this year.
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