Uzbekistan, South Korea deepen co-op
South Korean President Park Geun-hye will pay a visit to
Uzbekistan next week, the
governmental source told Trend on June 9.
The visit is to take place within the official tour of the President of Korea to the partner countries in Central Asia, particularly to Uzbekistan, Kazakhstan and Turkmenistan.
The aim of the visit, starting on June 16, is the development of bilateral cooperation. Diplomatic relations between Uzbekistan and South Korea were established on January 29 in 1992.
South Korea is one of the largest investment partners of Uzbekistan. Legal base of bilateral cooperation is about 200 documents, regulating cooperation between states in various fields.
The set of documents, regarding the joint perspective projects in various fields of economy totaling $5 billion, was signed following the official visit of the Uzbek President Islam Karimov to S. Korea in 2012.
Large investment projects are being implemented in cooperation with Korean companies, including construction of Usturt GCC on the Surgil deposit (costis $3.9 billion), the development project of Sautbay tungsten deposit ($150 million), organization of textile complex in Tashkent district ($70 million) and several other projects.
The volume of the mutual trade was $2.12 billion in 2013, which is about the same as in 2012.
There are 418 factories with Korean shares, actively operating in Uzbekistan, including 70 of those companies with 100 percent Korean capital.