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Economy 10/02/2010 Uzbek-Korean trade turnover grows by 8.2% in 2009
Uzbek-Korean trade turnover grows by 8.2% in 2009
Tashkent, Uzbekistan (UzDaily.com) -- Trade turnover between Uzbekistan and the Republic of Korea rose by 8.2% year-on-year in 2009 to US$1.22 billion. The countries set the most favourable trade regime.

Uzbekistan exports cotton-fiber, cotton yarn, uranium concentrate, copper, transport, tourism services, and others.

The volume of Korean investments into economy of Uzbekistan exceeded US$5 billion, of which US$2 billion were utilized, Jahon news agency of the Foreign Ministry of Uzbekistan reported.

Currently, number of enterprises with Korean investments, working in Uzbekistan, reached 373, of which 72 are fully owned by Korean investors. About 85 Korean companies accredited at the Ministry for Foreign Economic Relations, Trade and Investment.

Several Korean companies are actively participating in development of textile industry in Uzbekistan. Daewoo International run three textile enterprises in Uzbekistan, Hinetex own textile plant in Namangan, Shengdong Enercom launch enterprise in Surkhandarya.

Uzbekistan started to cooperate with TMC on creation of hosiery enterprise. These enterprises process 24% of cotton yarn in total processed volume by Uzbeklegprom in 2009 and exported goods for US$77.24 million.

Korean companies also actively participate in Navoi free industrial and economic zone. Korean businesses plan to implement 19 projects worth US$187 million. The full-scale production on 16 projects will be launched in the second part of 2010.

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