Azernews.Az

By Kamila Aliyeva

A joint Uzbek-Korean business forum and cooperative exchange with the participation of entrepreneurs of the two countries was held in Tashkent on March 7.

A delegation of business circles of South Korea was led by head of Evergreen Motors Group Kim Chang Keon.

The purpose of this event is to promote the establishment of trade relations between Uzbek and South Korean companies, to work out the issues of creating new joint ventures and implementing new investment projects.

The forum was attended by more than 150 representatives of major South Korean companies engaged in construction, food, trade, information and communication and business technologies, medicine, metallurgy, chemical industry, energy, engineering, automotive, ICT, logistics, pharmaceuticals, fruit and vegetable processing and production of finished products, as well as about 200 representatives of large enterprises and companies from various regions of Uzbekistan.

During the business meeting, issues of mutual cooperation on strengthening cooperation between entrepreneurs of the two countries were discussed.

Uzbekistan is Korea's main trade partner among the countries of Central Asia. Uzbekistan accounts for over half of Korea's trade with the countries of the region.

In January-October 2017, the trade turnover between Uzbekistan and South Korea has grown by 36 percent, thus reaching $1.1 billion.

The activity of South Korean investors plays an important role in the development of trade and economic ties between the two countries.

The volume of Korean investments attracted to the economy of Uzbekistan exceeds $7 billion. Currently, there are more than 460 enterprises in Uzbekistan with the participation of Korean capital (386 joint ventures and 75 enterprises with 100 percent Korean capital).

These enterprises successfully operate in the oil and gas, petrochemical and chemical, machine-building, electrical and textile industries, information and communication technologies, transport, logistics and tourism.

Representative offices of 75 companies of Korea are accredited in Uzbekistan. The main areas of their activity are oil and gas, petrochemical and chemical, mining, engineering, electrical engineering, textile, information and communication technologies, transport and logistics, tourism, production of building materials, as well as processing of agricultural products.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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