A delegation of South Korean companies led by Kim Joon-chul, the chairman of the Korea Electrical Manufacturers Association, is on a visit in Uzbekistan, Uzbek newspaper Pravda Vostoka reported on 31 May.

The aim of the visit is to develop trade and economic cooperation between Uzbek and Korean business circles, to establish mutually-beneficial contacts, and to discuss the prospects for bilateral cooperation.

The report said the delegation comprises heads and representatives of 14 leading Korean companies that are engaged in producing electrical products, in particular, representatives from the largest companies that produce transformers of various modifications, cabling and wiring products.

Uzbek-Korean trade was worth about US$615m in 2006, the paper said. Uzbekistan exports mainly cotton fibre and food products and supplies transport, tourist, insurance, communications and forwarding services to Korea. It imports car parts, chemical products, plastic and ferrous metals from Korea.

About 211 enterprises with the participation of South Korean investment function in Uzbekistan.

As part of the visit, a business seminar has been held to discuss opportunities of cooperation in the energy and electrotechnical fields. Representatives from ministries and agencies, associations and unions of the sector, trade and industry companies, and representatives from the small and medium-sized businesses of the country, which operate in the sphere of electrotechnical industry, participated in the business seminar.

The businesspeople from the two countries also met to discuss cooperation.